Global Dual Clutch Transmission Market (2021 to 2028) - COVID-19 Impact and Analysis - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Dual Clutch Transmission Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Vehicle Type (Passenger Cars and Commercial Vehicle), Propulsion (ICE and Hybrid), Vehicle Segment (A/B, C, D, E and Above, and SUV), and Forward Gears (6, 7, and 8 and Above)" report has been added to ResearchAndMarkets.com's offering.

The global dual clutch transmission market is expected to grow from US$ 12,576.10 million in 2021 to US$ 20,372.75 million by 2028; it is estimated to grow at a CAGR of 7.1% during 2021-2028.

A transmission system is considered one of the essential parts of any automobile, which is developing from manual to automated mechanism for boosting the fuel economy and power requirements of the vehicles. The significant advantages of dual clutch transmission (DCT) include less power loss, faster transmission, and greater fuel economy than other transmission types available in the market. The former technology is limited to be used in sports cars, race cars, and subsequently in passenger vehicles. The technology is subjected to robust research by established automakers to develop DCT systems such as DSG in Volkswagen and PDK from Porsche.

The increasing interest of consumers toward vehicle specifications and on-road performance is pushing the manufacturers to keep their vehicles interesting. Owing to the constant growth in consumer demand, coupled with a reduction in the cost of technology, the industry is witnessing an increasing penetration from sports cars to passenger vehicles. Furthermore, governments across different regions are increasingly focusing on integrating fuel-efficient technologies into their vehicles so that they can meet tight climate deadlines and obligations. The presence of major manufacturers also contributes to the increasing product demand.

The automotive dual clutch transmission market has been analyzed based on vehicle, propulsion, vehicle segment, forward gears, and country. Based on vehicle, the market is segmented into passenger cars and commercial vehicles. In terms of propulsion, the market is segmented into internal combustion engine (ICE) and hybrid. Based on vehicle segment, the market is segmented into A/B, C, D, E and above, and SUV. Based on forward gears, the market is segmented into 6, 7, and 8 and above. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for a significant share in the global market.

North America is expected to hold a significant share of the market, owing to the region's government policies for its automotive sector, coupled with one of the largest transportation infrastructures across the world. As per the International Organization of Motor Vehicle Manufacturers (OICA), the US is the largest manufacturer of commercial vehicles worldwide. In 2020, the country manufactured 8,156,769 units of new commercial vehicles. Further, the commercial vehicle transmission system in APAC is expected to grow at a notable rate as the region is witnessing rapid industrialization and urbanization, causing infrastructure development and rising demand for commercial vehicles.

As per the OICA report, China is the second-largest country in the world to manufacture commercial vehicles. In 2020, the country manufactured 208,747 new commercial vehicles and is expected to dominate the market in the coming years. The market growth in Europe is attributed to the significant use of dual clutch transmission in the automobile industry. Also, the MEA and SAM are contributing significantly to the global dual clutch transmission market growth.

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Market Dynamics

Drivers

• Growing Sales of SUVs Worldwide
• Increasing Concerns About Fuel Economy and CO2 Emission

Restraints

• Growing Adoption of Electric Vehicles and its High Costs

Opportunities

• Increasing Demand for Hybrids and DCTS in HCVs

Future Trends

• Mounting Demand of Class A/B Vehicles

Companies Mentioned

• Magna International Inc.
• Schaeffler Technologies AG & Co. KG
• BorgWarner Inc.
• Daimler AG
• Volkswagen AG
• ZF Friedrichshafen AG
• OC Oerlikon Management AG
• Ricardo
• Renault Group
• Hyundai Transys

For more information about this report visit https://www.researchandmarkets.com/r/otv79z