The global dual clutch transmission market is expected to be driven by various benefits such as increased performance and driving experience. Transmission system is an essential part of any automobile, which is evolving from manual to an automated mechanism for improving fuel economy and power requirements. An increasing number of automobiles globally is expected to be the key growth factor for the dual clutch transmission market over the forecast period.
Increasing awareness of low carbon footprint technologies is also expected to fuel market growth over the next six years. High cost and lack of awareness may restrain market growth over the forecast period. Additionally, increasing demand for electric vehicles and low penetration of dual clutch transmission systems in high volume markets is also expected to hinder market growth over the next six years. Rising demand for hybrid vehicles may provide new growth opportunities.
The dual clutch transmission market can be segmented on the basis of vehicle type and lubrication system. Wet and dry are the two types of lubrication systems used in dual clutch transmission technology. Wet dual clutch technology is majorly used in higher automobile segment for enhanced performance. Dry dual clutch technology is used in lower automobile segments and is expected to considerably grow over the forecast period owing to its economic benefits and low maintenance. Vehicle type consists of passenger cars, heavy commercial vehicles (HCV), and light commercial vehicles (LVC).
Europe is estimated to be the key regional segment over the forecast period. Asia Pacific being the largest automobile manufacturer is expected to grow at a considerable rate over the next six years. India, China, and Japan are expected to be the key growth countries owing to rising population and improving regulatory standards.
Few key participants in the dual clutch transmission market areas Aisin Seiki Co., ZF Friedrichshafen AG, Getrag Corporate Group, Jatco Ltd., Magna International Inc., Continental AG and Allison Transmission.
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The automotive & transportation industry is amongst the most exposed verticals to the ongoing COVID-19 outbreak and is currently amidst unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. The industry's concern has moved on from being centered on supply chain disruption from China to the overall slump in demand for automotive products. The demand for commercial vehicles is expected to plummet with the shutdown of all non-essential services. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. Meanwhile, liquidity shortfall and cash crunch have already impacted the sales of fleet operators, which is further expected to widen over the next few months. We are continuously monitoring the COVID-19 pandemic, and assessing its impact on the growth of the automotive & transportation industry. The report will account for Covid19 as a key market contributor.