Automotive Transmission Market Regional Analysis:
APAC Market Insights
Asia Pacific region is anticipated to hold over 34.1% market share by 2035, driven by large production volume of control parts for automobiles, rising income levels, and growing EV popularity in the region. For instance, in 2020, the overall production value of the automatic transmission system with many of its parts in Japan amounted to over USD 19 billion. Apart from that, rising income levels and the societal status of the Indian people are also expected to drive the market in the region. The popularity of EVs in the subcontinent is also booming, as it is projected that EVs will account for a third of the total vehicles on the road in India by 2030.