Automobile Transmission Manufacturing in the US - Market Research Report (2013-2028)
New York, United States
Last Updated: April 2023
NAICS 33635Revenue
$40.9bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
72,172
Businesses
371
Wages
$X.Xbn
Automobile Transmission Manufacturing in the US industry analysis
Automobile transmission manufacturers have dealt with difficult conditions in recent years. The outbreak of COVID-19 in 2020 caused the whole auto sector to plummet, as consumer spending quickly dried up and the need for transportation vanished under stay-at-home orders. The industry experienced growth as restrictions were lifted, but sky-high commodity prices pressured profit and increased the operating cost of an automobile. As supply caught up, commodity prices have steadily settled. Import penetration remained strong as the TWI continued to grow while foreign competitors were able to ramp production back up faster than their US counterparts. Altogether, industry revenue has been falling at a CAGR of 4.4% to $40.9 billion over the past five years, despite an increase of 1.2% in 2023 alone.Technological improvements will be the main focus of transmission manufacturers moving forward as automakers continue to compete to provide the best vehicles possible as the sector shifts. Both the government and consumers will continue to increase their focus on the environmental impact of automobiles, so transmission manufacturers must respond by providing the most fuel-efficient products possible. This includes producing multi-speed transmissions that shift smoothly, optimizing energy transfer from the engine to the wheels, in addition to improving their single-speed transmissions as compatibility with EVs becomes ever more important.As domestic travel continues to grow and consumers continue to gain confidence in the economy, demand for new cars will rise, creating room for transmission manufacturers to expand. Manufacturers will also steadily reduce their reliance on wage labor by increasing automation on the assembly line, improving efficiency. The TWI will slowly fall back down as time moves on, opening up more domestic demand for transmission manufacturers. Overall, industry revenue will grow at a CAGR of 2.1% to $45.4 billion over the five years to 2028.
Trends and Insights
- The pandemic caused the whole auto sector to struggle. Limited economic activity and the reduced need for transportation caused demand for new cars to plummet.
- Product offerings continue to evolve. Single-speed transmissions that connect with modern electric components grow in demand as manufacturers seek to improve the efficiency of their multi-speed transmissions.
- Proximity to automakers remains key to success. Limiting transportation costs as much as possible draws in customers while maximizing profit.
- The push to innovate defines competition. The race to maximize efficiency and adapt to EVs will drive manufacturers.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 4.4 % over the past five years, to reach an estimated $40.9bn in 2023.
Trends and Insights
The pandemic drags the whole auto sector back
- As COVID-19 took over in early 2020, measures were taken to combat the spread of the virus, including widespread lockdown orders. These brought general economic activity to a screeching halt while also drastically reducing the need for transportation, causing the auto sector to plummet.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Rising new car sales will create an opportunity
- As economic conditions continue to recover, domestic travel will continue to grow as the improving economy allows consumers to spend on leisure.
Biggest companies in the Automobile Transmission Manufacturing in the US
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
American Axle & Manufacturing Holdings, Inc. | 2,923.8 | 88.6 | 3.0 | |
Dana Inc. | 1,845.6 | 55.9 | 3.0 | |
Borgwarner Inc. | 1,054.7 | 58.4 | 5.5 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Car and light truck transmissions, Motor vehicle axels and parts and Parts for manual and automatic transmissions. Car and light truck transmissions is the largest segment of the Automobile Transmission Manufacturing in the US.
Trends and Insights
Transmissions account for the bulk of industry revenue
- Transmissions are the first major connection point between the engine and the rest of the drivetrain through a crankshaft. They use the rotational speed of an engine to turn the wheels.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Auto Parts Manufacturing in the US
Complementors
- Automobile Engine & Parts Manufacturing in the US
- Automobile Electronics Manufacturing in the US
- Automobile Steering & Suspension Manufacturing in the US
- Automobile Brakes Manufacturing in the US
- Automobile Interior Manufacturing in the US
- Automobile Metal Stamping in the US
International industries
- Global Auto Parts & Accessories Manufacturing
- Auto Parts Manufacturing in Canada
- Motor Vehicle Parts and Accessories Manufacturing in Australia
- Motor Vehicle Parts & Accessories Manufacturing in the UK
- Motor Vehicle Parts & Accessories Manufacturing in Ireland
Table of Contents
About this industry
Industry definition
Companies in this industry manufacture transmissions for motor vehicles (cars and light-, medium- and heavy-duty trucks), parts for transmissions and powertrain parts. Industry products include clutches, gears, differentials and axle bearings.
What's included in this industry?
Car and light truck transmissionsMotor vehicle axels and partsParts for manual and automatic transmissionsAll other drive train componentsHeavy truck and bus transmissionsMotor vehicle transmission manufacturingRebuilt transmissions and drive train componentsSteering and suspension partsCompanies
American Axle & Manufacturing Holdings, Inc.Dana Inc.Borgwarner Inc.Purchase this report to view all 4 major companies in this industry.
Related Terms
ORIGINAL EQUIPMENT MANUFACTURER (OEM)BIG THREEDRIVETRAINTRANSAXLECONTINUOUSLY VARIABLE TRANSMISSION (CVT)DUAL CLUTCH TRANSMISSION (DCT)TORQUE CONVERTERIndustry Code
NAICS 33635 - Automobile Transmission Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The pandemic caused the whole auto sector to struggle. Limited economic activity and the reduced need for transportation caused demand for new cars to plummet.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Product offerings continue to evolve. Single-speed transmissions that connect with modern electric components grow in demand as manufacturers seek to improve the efficiency o...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Proximity to automakers remains key to success. Limiting transportation costs as much as possible draws in customers while maximizing profit.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each state in 2023
- Number and share of revenue each state accounts for in 2023
- Number and share of wages each state accounts for in 2023
- Number and share of employees in each state in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
The push to innovate defines competition. The race to maximize efficiency and adapt to EVs will drive manufacturers.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Securing business with leading automakers sets manufacturers up for success. Providing top-of-the-line and in-demand transmission systems helps manufacturers secure these luc...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of American Axle & Manufacturing Holdings, Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Dana Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Borgwarner Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for American Axle & Manufacturing Holdings, Inc., and factors influencing its performance in the industry
- Description and key data for Dana Inc., and factors influencing its performance in the industry
- Description and key data for Borgwarner Inc., and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
New car sales drive industry success. The sales of complete drivetrains generate the greatest portion of revenue.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit set to recover. Manufacturers are getting back up to speed following the struggles brought on by the pandemic, including high commodity prices.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Industry Multiples (2016-2021)
- Industry Tax Structure (2016-2021)
- Income Statement (2016-2021)
- Balance Sheet (2016-2021)
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Automobile Transmission Manufacturing in the US industry in United States in 2024?
The market size of the Automobile Transmission Manufacturing in the US industry in United States is $40.9bn in 2024.
How many businesses are there in the Automobile Transmission Manufacturing in the US industry in 2023?
There are 371 businesses in the Automobile Transmission Manufacturing in the US industry in United States, which has declined at a CAGR of 0.2 % between 2018 and 2023.
Has the Automobile Transmission Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Automobile Transmission Manufacturing in the US industry in United States has been declining at a CAGR of 4.4 % between 2018 and 2023.
What is the forecast growth of the Automobile Transmission Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Automobile Transmission Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Automobile Transmission Manufacturing in the US market in United States?
The biggest companies operating in the Automobile Transmission Manufacturing market in United States are American Axle & Manufacturing Holdings, Inc., Dana Inc. and Borgwarner Inc.
What does the Automobile Transmission Manufacturing in the US in United States include?
Car and light truck transmissions and Motor vehicle axels and parts are part of the Automobile Transmission Manufacturing in the US industry.
Which companies have the highest market share in the Automobile Transmission Manufacturing in the US in United States?
The company holding the most market share in United States is American Axle & Manufacturing Holdings, Inc..
How competitive is the Automobile Transmission Manufacturing in the US industry in United States?
The level of competition is moderate and steady in the Automobile Transmission Manufacturing in the US industry in United States.
