$40.9bn
$X.Xbn
72,172
371
$X.Xbn
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.
Industry revenue has declined at a CAGR of 4.4 % over the past five years, to reach an estimated $40.9bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($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 |
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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.
Transmissions account for the bulk of industry revenue
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.
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NAICS 33635 - Automobile Transmission Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
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.
Learn about an industry's products and services, markets and trends in international trade.
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...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Proximity to automakers remains key to success. Limiting transportation costs as much as possible draws in customers while maximizing profit.
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.
The push to innovate defines competition. The race to maximize efficiency and adapt to EVs will drive manufacturers.
Learn about the performance of the top companies in the industry.
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...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
New car sales drive industry success. The sales of complete drivetrains generate the greatest portion of revenue.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit set to recover. Manufacturers are getting back up to speed following the struggles brought on by the pandemic, including high commodity prices.
Including values and annual change:
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The market size of the Automobile Transmission Manufacturing in the US industry in United States is $40.9bn in 2024.
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.
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.
Over the next five years, the Automobile Transmission Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Automobile Transmission Manufacturing market in United States are American Axle & Manufacturing Holdings, Inc., Dana Inc. and Borgwarner Inc.
Car and light truck transmissions and Motor vehicle axels and parts are part of the Automobile Transmission Manufacturing in the US industry.
The company holding the most market share in United States is American Axle & Manufacturing Holdings, Inc..
The level of competition is moderate and steady in the Automobile Transmission Manufacturing in the US industry in United States.