Global Continuously Variable Transmission Market – Industry Trends and Forecast to 2029

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Continuously Variable Transmission Market Analysis and Size

The global continuously variable transmission market is expected to witness significant growth during the forecast period due to the growing demand for vehicles overall the globe. But, the competition in the automotive sector has forced the market players of the companies in the automotive variable oil pump market to invest in R&D to rise an edge over the other market players. Since the market is ruled by top-tier market players and the new entrants are facing stiff competition, it is very challenging for start-ups to onboard investors. Thus, R&D is evolving as a winning strategy to innovate in continuously variable transmission market. Furthermore, growing investments by governments to introduce advanced technology strengthens the global market.

Data Bridge Market Research analyses that the continuously variable transmission market was valued at USD 19.80 billion in 2021 and is expected to reach USD 31.56 billion by 2029, registering a CAGR of 6.00 % during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.     

Continuously Variable Transmission Market Scope and Segmentation

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Market Definition

Continuously variable transmission (CVT) is a type of automatic transmission system which effortlessly changes through continuous range of different ratios of gear and allowing the engine to run for a range of vehicle speeds at its maximum effective revolutions per minute (RPM). CVT replaces the gears with two variable-diameter pulleys shaped like a pair of opposing cones and a chain running or metal belt between them. 

Continuously Variable Transmission Market Dynamics

Drivers

• Increasing demand for better fuel efficiency

Gasoline is a fossil fuel that is not a renewable energy source and is expected to exhaust in upcoming years. So, recently the demand for the fuel-efficient vehicles has increased due to rise in the price of diesel and petrol. According to the U.S. Energy Information Administration (EIA), the consumption of motor diesel and gasoline has been controlled to a large extent in terms of million barrels per day. Thus, the automobile producers are manufacturing fuel-efficient vehicles to deal with the augmented demand from consumers which are expected to drive the growth of the continuously variable transmission market.

• Growing demand for eco-friendly vehicle

The rolling inclination of consumers towards the eco-friendly vehicles on the back of the rising awareness regarding environmental pollution is expected to drive the market growth during the above mentioned period. These systems are fuel-efficient, have competent transmission option, which generates lower emissions. The increasing demand for performance and improvement in fuel economy are expected to drive the growth rate of the continuously variable transmission system market.

Furthermore, rising sales of commercial  and passenger cars, the growing purchasing power of consumers and increasing demand for passenger vehicle are some major factors expected to drive the growth of the continuously variable transmission market. 

Opportunities

• Technological advancement

The growing technological advancement in the continuously variable transmission system will offer numerous growth opportunities within the market in upcoming year. For Instance, ZF Friedrichshafen AG developed CVT under ECCOM series for off-highway vehicle with power 400 HP to 620 HP and under TERRAMATIC series for tractors of 400HP. Therefore, the automatic transmission makes the vehicle more fuel efficient, which is crucial in creating immense opportunities for the continuously variable transmission system market.

Moreover, increase in collaborations and emerging new global markets will also act as market drivers and further increase the beneficial opportunities for market growth. The surging technological advancement will boost new market opportunities for the continuously variable transmission system market.

Restraints/ Challenges

• High Cost associated with this system

The high price of transmission fluids is a major factor restraining the growth of the automotive variable oil pump market. Also the technological advancements can also upsurge the overall cost of this product. The high installation cost of this continuously variable transmission system is among the main factors restraining the growth of continuously variable transmission market and further challenging the market growth rate.   

Moreover, the lack of power handling as compared to conventional transmission will act as market restraint and may hamper the growth of the continuously variable transmission market during the forecast period.   

This continuously variable transmission market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the continuously variable transmission market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Covid-19 Impact on Continuously Variable Transmission Market

The outbreak of COVID-19 pandemic has continued to impact the growth of the automotive and many other sector across the globe. This pandemic has hampered a majority of businesses overall the globe due to imposed lockdown, which caused the people to stay at home. The imposed lockdown led to a decrease in the sales of vehicle, consequently, contracting the global continuously variable transmission market. However, the global continuously variable transmission market is anticipated to expand from 2021, due to economic measures, the government has taken some steps to recover from financial losses which has caused by imposed shutdown of business activities during the COVID-19 pandemic.

Global Continuously Variable Transmission Market Scope

The continuously variable transmission market is segmented on the basis of type, vehicle type, product, fuel and capacity. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Hydrostatic
• Toroidal
• Cone
• Variable Geometry
• Variable Diameter

Vehicle Type

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Others

 Product

• Chain-Driven Transmission
• Belt-and-Pulley Transmission

 Fuel

• Gasoline
• Diesel
• Hybrid

 Capacity

• Up to 1.5 L
• 1.5 L to 3.0 L
• Above 3.0 L

Continuously Variable Transmission Market Regional Analysis/Insights

The continuously variable transmission market is analysed and market size insights and trends are provided by country, type, vehicle type, product, fuel and capacity as referenced above.

The countries covered in the continuously variable transmission market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the continuously variable transmission market in terms of revenue and market share. This is because of increasing sales of commercial vehicles and passenger cars and growing purchasing power of consumers in this region.

North America is expected to be the fastest developing regions during the forecast period of 2022-2029 due to the availability of inexpensive labour and raw material along with growing number of local manufacturers.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Continuously Variable Transmission Market Share Analysis

The continuously variable transmission market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to continuously variable transmission market.

Some of the major players operating in the continuously variable transmission market are:

• ZF Friedrichshafen AG (Germany)
• Robert Bosch GmbH (Germany)
• JATCO Ltd (Japan)
• IAV (Ireland)
• TEAM Industries (U.S.)
• Endurance Technologies Limited (India)
• NIDEC-SHIMPO CORPORATION (Japan)
• Magna International Inc, (Canada)
• Toyota Motor Corporation (Japan)
• Gaokin Industry Co., Ltd. (China)
• BorgWarner Inc. (U.S.)
• AISIN CORPORATION (Japan)
•  Hyundai Motor Company (South Korea)
• Fallbrook Intellectual Property Company LLC (U.S.)

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