High demand for luxury vehicles and increase in efforts to enhance vehicle performance is expected to drive the demand of global automotive synchronizer market in the forecast period, 2023-2027.
According to TechSci Research report, “Automotive Synchronizer Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global automotive synchronizer market is anticipated to grow at a steady rate in the forecast period, 2023-2027. The increasing need for handling efficiency and safety in automobiles and the launch of newer automobile models with superior features are driving the demand of the global automotive synchronizer market. Automotive synchronizer helps maintain smooth vehicle traction, elevating the passengers' experience while driving the vehicles.
Automotive gear is a rotating part containing teeth that form a mesh with gear to generate torque. Gears are used in automobiles to change speed, torque, direction of power source and have witnessed the transformation from manual gear to automatic gear transmission. Improvements in the fuel efficiency and product durability of the vehicle and the advancement of the existing infrastructure to ensure smooth functioning of the engine and prevent engine losses are accelerating the market demand.
However, rapid changes in raw materials prices may restrain the growth of the global automotive synchronizer market in the forecast period.
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The global automotive synchronizer market is segmented by vehicle type, demand category, material, competitional landscape, and regional distribution.
Based on the vehicle type, the global automotive synchronizer market is divided into passenger car, light commercial vehicle, medium & heavy commercial vehicle, and OTR. The passenger car segment is expected to hold the largest market share for the forecast period, 2023-2027. The increasing need for private vehicle ownership and the rise in the purchasing power of consumers is influencing the sales of passenger cars across the globe. The surge in demand for fuel-efficient systems and enhanced driving experience makes the market players fulfill customer demand. Improvements in the economic conditions of developing countries like India, China, and Brazil and the change in living standards have accelerated the need for advanced technologies, making the manufacturers make advancements in components like synchronizers that affect vehicle performance.
Based on the demand category, the global automotive synchronizer market is bifurcated into OEM and replacement. The OEM segment is anticipated to dominate the global market share in the forecast period. The use of advanced technologies in the manufacturing process and the increase in the production of the passenger car segment are expected to fuel the demand of the OEM segment. The automotive parts and components manufactured by the OEMs are of high quality as they use quality raw material. They offer warranty guarantees on their products, which plays a crucial role in the sales of automotive components.
Based on the material, the global automotive synchronizer market is divided into steel, brass and other. The steel segment is expected to account for a significant market share for five years. Steel is the preferred choice among the manufacturers as they are hard, tough, and has high tensile strength. Steel has a very high strength-to-weight ratio and high resistance to wear and can improve its physical properties through heat treatment. It is a cost-effective option for manufacturers to attain desired quality according to the requirement.
Based on the regional analysis, the Asia-pacific region holds the largest market share and is expected to witness significant growth opportunities in the forecast period. The rise in the demand for fuel-efficient vehicles and passenger cars and the country's improving economic conditions are driving the market growth in the forecast period. Presence of significant market players in the region and the increasing vehicle production in countries like India ad China to satiate the high demand for personal and commercial vehicles is expected to create lucrative opportunities for the global automotive synchronizer market growth.
Major market players operating in global automotive synchronizer market are:
- Schaeffler Group
- Anand CY Myutec Automotive Private Limited
- Dana Graziano Srl
- Oerlikon Friction Systems GmbH
- Hoerbiger Holding AG
- Owari Seiki Co. Ltd.
- Diehl Metall Stiftung & Co. Kg
“Intense competition among the market players makes them make substantial investments in research and development activities to find innovative technologies and launch advanced products to stay ahead. Increasing vehicle production and high demand for improved vehicle performance with a lower carbon footprint fuel adopting measures that influence market demand. The rise in demand for automatic transmission in vehicles and the use of lightweight materials in the manufacturing process is expected to propel the global automotive synchronizer market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Automotive Synchronizer Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027”, has evaluated the future growth potential of global automotive synchronizer and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global automotive synchronizer market.