The latest report on Transmission Repair Market by Infinium Global Research gives complete coverage of the transmission repair market by vehicle type (passenger vehicle, and commercial vehicle), type of repair (transmission overhaul, and transmission general repair) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of transmission repair such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Rise in Ride Sharing is the Key Factor for the Growth of the Transmission Repair Industry
The mechanism that transmits the power developed by the engine of the automobile to the engine to the driving wheels is known as the transmission system. It is required to provide means of connection and disconnection of an engine with the rest of powertrain without shock and smoothly. The necessity for a transmission system to undergo periodic maintenance is high as the transmission is an essential component of a vehicle.
A simple lack of transmission fluid level can leave important parts unprotected by lubricant and allow internal components to warp and gaskets or seals to fail. Modern transmissions also contain a number of electronic modules and controls that could fail and cause transmission problems. Rebuilding an existing transmission will involve removing the damaged or broken transmission completely from the vehicle and then repairing or replacing any damaged parts.
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Increase in the Sales of Automobiles Worldwide are also Expected to Spur the Growth of the Industry
The rise in ride-sharing is the key factor for the growth of the transmission repair market. The wear and tear in vehicles used for ride-sharing are high as compared to the private vehicles that require periodic transmission repair. LYFT and UBER together reached 500 million miles of coverage from 460 million miles in the US, resulting in an increase in transmission repair. Additionally, the increasing environmental concerns about the emission of GHGs create a need for periodic maintenance.
Furthermore, periodic services for transmission increases the vehicle’s age and enhance the fuel efficiency that will fuel the growth of the market over the upcoming years. On the other hand, the use of different technologies such as computers, hydraulics for regulating the functioning of transmissions is anticipated to provide several growth opportunities for the key players in the transmission repair market. However, the higher cost in transmission repair hampers the growth of the transmission repair market. Furthermore, the rapid improvements in infrastructure along with the increase in the sales of automobiles worldwide are also expected to spur the growth of the market.
Geographically, the North America region is anticipated to dominate the global transmission repair market followed by the Asia Pacific. The Asia Pacific is projected to be the fastest-growing market during the forecast period due to the high sales of vehicles and fast developing infrastructure. The need for transmission repairs is very frequent owing to the increased emission norms driven by the rising environmental concerns in countries such as China and Japan. The growth of ride-sharing services in developed as well as developing markets is expected to boost the transmission repair market for passenger cars.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the transmission repair.
- Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.