The Increase in the Vehicle Miles Travelled is Expected to Drive the Transmission Repair Market

1. The Increase in the Vehicle Miles Travelled is Expected to Drive the Transmission Repair Market The report "Transmission Repair Market by Component (Gasket & Seal, Fluid, O-ring, Transmission Filter, Gear, Clutch Plate, Pressure Plate, Oil Pump), Repair type (Transmission General Repair, Overhaul), Vehicle Type, and Region - Global Forecast to 2022", The transmission repair market is projected to grow at a CAGR of 3.25% during the forecast period, from USD 199.16 Billion in 2017 to USD 233.70 Billion by 2022. In terms of volume, the transmission repair market is estimated to reach 7.89 Billion units by 2022. The major factors driving the growth of the transmission repair market are larger vehicle parc, increasing average vehicle age & miles traveled, improved infrastructure, and increased vehicle sales worldwide. Browse 132 market data Tables and 57 Figures spread through 173 Pages and in-depth TOC on "Transmission Repair Market by Component (Gasket & Seal, Fluid, O-ring, Transmission Filter, Gear, Clutch Plate, Pressure Plate, Oil Pump), Repair type (Transmission General Repair, Overhaul), Vehicle Type, and Region - Global Forecast to 2022" https://www.marketsandmarkets.com/Market-Reports/transmission-repair-market-139093827.html Early buyers will receive 10% customization on reports. Transmission General Repair - To show high growth potential By repair type, transmission general repair is expected to dominate the transmission repair market. The market for transmission general repair is expected to grow at the highest CAGR in the next five years. The growth of this segment can be attributed to the increase in the adoption rate of preventive/periodic maintenance services for vehicles to keep the transmission at full efficiency. Preventive/periodic services for transmission increase the vehicle age and enhance fuel efficiency. Growth of ride sharing is expected to drive the market for transmission repair Ride sharing is a key factor in the growth of the transmission repair market. The growth of ride sharing market is directly proportional to the vehicle parc and average miles driven, which, in turn, drive the growth of the transmission repair market. For instance, in December 2016, Lyft and Uber together reached 500 million miles of coverage from 460 million miles in the US. The growth of ride sharing contributes to the increase in average vehicle miles traveled, which propels the growth of the transmission repair market. The transmission repair market is projected to grow at a CAGR of 3.25% during the forecast period, from USD 199.16 Billion in 2017 to USD 233.70 Billion by 2022. Rising demand for commercial vehicles, larger vehicle parc, increasing vehicle sales, and the increasing average vehicle miles traveled every year have fueled the growth of the transmission repair market globally.

2. While the emerging markets such as China, India, and Mexico are witnessing an increase in sales volume of passenger cars, developed markets such as the US, UK, Canada, and Germany among others are witnessing a growth of commercial vehicles. The growth is not only focused on new car sales but also in the aftermarket, which is expected to generate huge revenues and margins for transmission repair. On the basis of repair type, the transmission repair market is segmented into transmission general repair and transmission overhaul. The growth of the transmission general repair market can be attributed to the increasing adoption of preventive/periodic maintenance services for transmission in vehicles. Preventive/periodic maintenance not only increases the average vehicle age but also enhances fuel efficiency. The growth of the transmission overhaul market can be attributed to factors such as a worldwide increase in vehicle sales, improved infrastructure, and increased average vehicle miles traveled. The transmission repair market has been segmented by vehicle type into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger car segment is estimated to hold the largest share, in terms of value and volume, of the transmission repair market in 2017. The increasing average vehicle miles traveled and increased sales of passenger cars in developing countries such as China, India, Russia, Brazil, and Mexico are expected to drive the growth of the transmission repair market in this vehicle segment. On the basis of component, the fluids segment is estimated to be the fastest growing market, in terms of value. The adoption of preventive/periodic maintenance services for transmission is expected to drive the market for fluids during the forecast period. The average fluid consumption is 5 to 7 quarts. The OE companies are focusing on high-quality oil for increasing transmission efficiency and also to reduce the frequent change of oil in the transmission. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=139093827 North America: Largest region for transmission repair market North America is estimated to be the largest market, by value, for transmission repair in 2017. The market growth in North America can be attributed to the increased sales of passenger cars and light commercial vehicles in the region. In addition, the growth of ride sharing, larger vehicle parc, and increased average vehicle miles traveled are expected to boost the market for transmission repair in the region. Asia Pacific is expected to be the fastest growing market during the forecast period due to high sales of vehicles and fast developing infrastructure. The report covers all the major players in the transmission repair market that include companies such as Allison (US), ZF (Germany), BorgWarner (US), Schaeffler (Germany), and Continental AG (Germany) among others. Request Sample: https://www.marketsandmarkets.com/requestsample.asp?id=139093827

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