LONDON – The global automotive transmission electronics market is expected to grow at a CAGR of nearly 10% during 2018-2022, says Technavio.
A key factor driving growth is the increasing penetration of shift-by-wire technology, says the firm. A shift-by-wire system uses an actuator for transmission. With the increase in the adoption of automatic transmission systems, the shift-by-wire market is expected to grow significantly during the forecast period.
Power-split HVTS has gained popularity over the years and is increasingly being used in fully hybrid vehicles, says Technavio. The growing adoption of power-split CVT systems is likely to impact growth of the automotive transmission electronics market.
“Apart from the growing adoption of power-split CVT systems, the advances of technologies for integrating transmission systems with other electric powertrain components, such as electric motors, power electronics, and controllers, is a key factor that is expected to positively impact the global automotive transmission electronics market,” said a senior analyst at Technavio.
The Americas led the market in 2017, with a market share of close to 41%, followed by EMEA and APAC. Although the APAC region held the smallest share of the market in 2017, it is expected to register the highest incremental growth during the forecast period.