Global Automotive Pinion Gear Market Anticipated to Surge at a CAGR of 4.5% Through 2025
New research report offers a comprehensive analysis of the “Automotive Pinion Gear Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025” The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.
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Global Automotive Pinion Gear Market: Snapshot
Automotive pinion gears are the driving gears in the drive train and are used for the transmission of the motion in the automobiles. The major parts in which the pinion gears are used are steering system, transmission system, and differential of the vehicle. The primary function of a pinion gear is to transfer the motion to the bigger gear in the assembly. Automotive pinion gears are generally made up of alloys of Steel, Aluminum, Magnesium, Manganese, Zinc, Chromium, Nickel and Cobalt.
Increasing production of vehicles with automatic transmission system, and four wheel drives is boosting the pinion gears market due to its application in these systems in higher quantity. The vehicles used for the off road rides and vehicles used by the armed forces are mostly four wheel drive which uses more number of differential than the two wheel drive vehicles which utilizes bevel pinion gears, hence is responsible for the growth of the pinion gears market. The increasing demand for the vehicles with automatic transmission system due to its better fuel economy and ease in driving even in heavy traffic conditions is contributing to enhance the automotive pinion gear market. Mentioned factors are likely to boost the automotive pinion gear market during the forecast period.
Based on Gear Type, Helical Pinions Constitute the Leading Segment
For the purpose of the study, the global automotive pinion gear market has been segmented in terms of gear type, vehicle type, application, and geography. Based on gear type, the global market is bifurcated into bevel and helical pinion gears. Of these, helical pinion gears accounted for the leading share in the global market in 2016. The rising use of helical pinion gears in transmission and steering systems has enabled the segment emerge at the market’s fore.
In terms of application, transmission system, differential, and steering systems constitute the key categories. On the basis of vehicle, the global automotive pinion gear market is classified into passenger vehicles and commercial vehicles. Of these, the passenger vehicles segment encompasses sedans, hatchbacks, and multi-utility vehicles. Likewise, the commercial vehicles segment comprises heavy duty and light duty vehicles.
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Presence of Several Manufacturing Facilities and Rapid Urbanization Catapult Asia Pacific at Market’s fore
Automotive pinion gear market has been segmented into five key regions in the region segment as North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. The analysis based on the region is done on the basis of the production trend, political reforms, regulation changes and society demand. Asia Pacific has emerged as the major market for the automotive pinion gears followed by the Europe. Asia Pacific is expected to remain the largest market during the forecast period due to the high number of manufacturing facilities, increasing urbanization and purchasing power of the society and increasing production of the vehicle in the China and other region of the Asia.
Automotive pinion gear market is a fragmented market and is distributed among many small and medium scale manufacturers. Some of the prominent players of the automotive pinion gears market are Bharat gears, SHOWA Corporation, Renold Plc, B & R Motion Gears, Samgong Gears, Mahindra Gears, Eaton, Precipart, Gear Motions, BMT International SA and others.
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