Global Automotive Gearbox Market to Reach $186.7 Billion by 2030
The global market for Automotive Gearbox estimated at US$128.1 Billion in the year 2023, is expected to reach US$186.7 Billion by 2030, growing at a CAGR of 5.5% over the analysis period 2023-2030. 3–5 Gears Gearbox, one of the segments analyzed in the report, is expected to record a 5.3% CAGR and reach US$55.5 Billion by the end of the analysis period. Growth in the 6–8 Gears Gearbox segment is estimated at 5.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $33.8 Billion, While China is Forecast to Grow at 8.1% CAGR
The Automotive Gearbox market in the U.S. is estimated at US$33.8 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$40.7 Billion by the year 2030 trailing a CAGR of 8.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 4.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$25.8 Billion by the year 2030.
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