Market Synopsis
As per the research by MarketResearch Future Reports (MRFR), the global transmission repair market haswitnessed exponential growth. The market is estimated to expand at a CAGR of 4%during the review period. The improvements in infrastructure are one of themost significant elements driving the global transmission repair market 2020. Aworldwide rise in the sales of automobiles is estimated to propel the marketadditionally. Besides, there has been growing investment in the growth ofpublic transmission facilities and is also likely to expand the market.Besides, the increasing investment by the manufacturers for manufacturinglarger automobiles equipped with developed transmission systems. Theinabilities of transmission results in a non-functional vehicle, which islikely to propel the transmissionrepair market size in the forthcoming period. Moreover, size of the marketis increasing number of miles covered by automotive throughout its life, whichhas resulted in increased average age of vehicles. However, the threats facedby the transmission repair experts like hot transmission fluids, among others,are likely to hinder the growth of the market.
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Moreover, the outbreak ofCOVID-19 has resulted in the changing dynamics of the market. Several regionshave been affected, which has affected the trajectory of the market. It maytake some time to recover from the damage caused by the pandemic. We willprovide COVID-19 impact analysis with report.
Market Segmentation
The global transmission repairmarket can be segregated on the basis of repair type, components, vehicle type,and region.
On the basis of repair type, theglobal transmission repair market can be classified into transmission overhauland transmission general repair.
On the basis of components, theglobal transmission repair market can be classified into o-ring, gaskets andseals, transmission filter, clutch plate, gear, and oil pump.
On the basis of vehicle type, theglobal transmission repair market can be classified into the passenger car,heavy commercial vehicle, and light commercial vehicle.
On the basis of region, theglobal transmission repair market can be classified into North America, Europe,Asia Pacific and the Rest of the World.
Regional Analysis
The regional analysis of NorthAmerica, Europe, Asia Pacific, and the Rest of the World has been conducted. Asper the analysis by MRFR, the North American region is estimated to lead theglobal transmission repair market during the forecast period. Owing to thepresence of established players in the region, North America is likely topropel at a fast pace. Additionally, it is likely to benefit from theincreasing dependency on prion automobiles for traveling. Besides, the regionconsists of developed nations like the US and Canada, which represents a robustpublic transportation infrastructure.
On the other hand, the APACregion is estimated to expand at the highest CAGR due to the booming automobileindustry in the region. It is also due to the increasing demand forfuel-efficiency. Moreover, the growing emission has given an alarm andincreased the environmental concerns, precisely in China and Japan.
Furthermore, strict rules andregulations have been announced, which will propel the regional market.However, the outbreak of COVID-19 has caused the markets to come at a halt. Thedynamics of the market are changed, and it will take time to recover from thedamage caused.
Key Players
The forefront players of theglobal transmission repair market are ZF Friedrichshafen AG (Germany) ZFFriedrichshafen AG (Germany), Allison Transmission (U.S.), BorgWarner Inc.(U.S.), AAMCO (U.S.), Schaeffler Technologies AG & Co. (Germany),Continental AG (Germany), Driven Brands Inc. (U.S.), Jiffy Lube (U.S.), AisinSeiki Co., Ltd. (Japan), and few others.
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