What Fueled The Previous Growth In The Automotive Spur Gear Market?
The automotive spur gear market has seen considerable growth due to a variety of factors.
• There has been a significant expansion in the automotive spur gear market in the past years. This market is projected to rise from $31.63 billion in 2024 to $33.8 billion in 2025, boasting a compound annual growth rate (CAGR) of 6.9%.
Factors contributing to this growth during the historical period include increases in vehicle production, fuel efficiency standards, evolution in automotive design, advancements in materials, and international economic conditions.
What Can Be Expected from the Automotive Spur Gear Market Size?
The automotive spur gear market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the automotive spur gear market is predicted to experience substantial growth, reaching $41.85 billion in 2029 with a 5.5% compound annual growth rate (CAGR). Factors encouraging this growth over the forecast period include the rise in electric vehicle use, initiatives for reducing emissions, resilience in supply chain management, increased vehicle customization, and commitments to research and development. Prominent trends during the forecast period involve the incorporation of cutting-edge manufacturing technologies, prioritization of noise mitigation technologies, launch of highly durable and high-performing gears, adoption of advanced surface coating practices, focus on creating energy-efficient gear designs, and the innovation of gear solutions tailored for electric and hybrid vehicles.
What Are the Critical Driver Fuelling The Automotive Spur Gear Market's Growth?
The proliferation of electric vehicle (EV) sales is anticipated to significantly boost the automotive spur gear market's expansion. Electric vehicles, fitted with rechargeable batteries or hydrogen fuel cells offering electricity, rely heavily on automotive spur gears. These gears are integral to maintaining optimal power transmission, enriching efficiency, and offering precise control over speed and torque. These elements solidify the position of electric vehicles in the realm of eco-friendly transportation. For example, the International Energy Agency - a French intergovernmental body - reported that electric vehicle sales hit 10 million in 2022 and are projected to rise to 14 million in 2023. As such, the rising demand for electric vehicles bolsters the automotive spur gear market. The automotive spur gear market is projected to grow in response to the burgeoning demand for fuel efficiency. The term 'fuel efficiency' defines how effectively a vehicle uses fuel to travel a specific distance, demonstrating its capacity to maximize energy output while reducing fuel usage. Automotive spur gears heighten overall vehicle fuel efficiency by decreasing energy wastage and facilitating more efficient power transmission. For example, the Environmental Protection Agency (EPA), a US government body, estimated in August 2023 that the fuel efficiency of new 2022 models would be 26.4 mpg. Therefore, owing to the rising demand for fuel efficiency, the automotive spur gear market is also expected to grow.
How Is The Automotive Spur Gear Market segmented?
The automotive spur gear market covered in this report is segmented –
1) By Product: External Spur Gear, Internal Spur Gear
2) By Material: Steel, Nylon, Aluminum, Bronze, Phenolic, Cast iron, Bakelite, Plastics
3) By Vehicle Type: Passenger Vehicles, Commercial Vehicles
4) By Sales Channel: OEM (Original Equipment Manufacturer), After market
Subsegments:
1) By External Spur Gear: Straight Tooth External Spur Gear, Helical Tooth External Spur Gear
2) By Internal Spur Gear: Internal Spur Gear With Straight Teeth, Internal Spur Gear With Helical Teeth
Pre-Book The Automotive Spur Gear Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Shaping The Automotive Spur Gear Market?
The focus of many leading corporations in the automotive spur gear market is to develop innovative versions of automatic gear shifts in order to offer trustworthy services to their clients. Suzuki is at the forefront of this innovation with their revolutionary system that enables a manual gearbox to automatically shift gears without the need for the driver to engage the clutch or manipulate the gear lever. As an example, in May 2023, Suzuki Motor Corporation, a company renowned in the field of mobility manufacturing originating from Japan, introduced the New S-Presso AGS (Automatic Gear Shift). The implementation of this automatic gear shift system allows for a more comfortable, powerful, and energy-efficient driving experience courtesy of the S-PRESSO AGS, while simultaneously maintaining its distinctive design and sophistication. Moreover, it comes with a newly introduced 1.0L K10C engine and an engine auto stop-start system (EASS). This system automatically turns off the engine when the vehicle is not in motion, resulting in decreased unnecessary fuel usage, thereby endorsing a delightful drive and promoting cost-effectiveness.
Who Are the Key Players In The Automotive Spur Gear Market?
Major companies operating in the automotive spur gear market report are:
• Siemens AG
• ZF Friedrichshafen AG
• Eaton Corporation PLC
• Sumitomo Heavy Industries Ltd.
• NSK Limited
• Bosch Rexroth AG
• Linamar Corporation
• American Axle & Manufacturing Inc.
• The Timken Company
• MISUMI Corporation
• GKN Sinter Metals Engineering GmbH
• Tsubakimoto Chain Co.
• Univance Corporation
• Renold PLC
• BMT International SA
• Bharat Gears Limited
• Neugart GmbH
• Showa Corporation
• Boston Gear Inc.
• Wittenstein Group
• ABA PGT Inc.
• Cleveland Gear Company
• Precision Gears Inc.
• DESCH Antriebstechnik GmbH & Co. KG
• KHK Gears Co Ltd.
• B&R Motion Gears
• Samgong Gear Co. Ltd.
• DB Gears
• Mahindra Gears & Transmissions Pvt Ltd.
• Oerlikon Graziano SpA
What Is The Most Dominant Region In The Automotive Spur Gear Market?
Asia-Pacific was the largest region in the automotive spur gear market in 2024. The regions covered in the automotive spur gear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
