Asia-Pacific accounted for the largest share of the global automotive gears market in 2015. The region generates high demand for vehicles with advanced features. OEMs are subsequently increasing production capacity and expanding technical centers to meet the demand for these vehicles. The automotive industry in Asia-Pacific has witnessed a year-on-year increase in sales. The region is the leading producer of automobiles in the world.
North America is estimated to constitute the second-largest automotive gears market, by value, in 2015. The region is dominated by domestic OEMs such as Ford, General Motors and Fiat-Chrysler. The U.S. alone has 32 manufacturing facilities dedicated to vehicle production. The large customer base and high disposable income of end-users have fueled the demand for vehicles in the country, which has resulted in increased manufacturing activities by local automotive OEMs. The growing North American automotive market represents several opportunities for manufacturers of automotive gears and other automotive parts.
The European region has been segmented into Germany, France, the U.K., and Italy. Europe is estimated to account for the third-largest share in the global automotive gears market in 2015. The European automotive gears market is projected to grow at a promising CAGR during the forecast period.
The report analyzes all major players in the automotive gears market, including Robert Bosch GmbH (Germany), GKN plc (U.K.), Showa Corporation (Japan), Bharat Gears (India), and ZF TRW (U.S.), along with numerous local players.