Market Research Future (MRFR) has projected in its latest report that the global Continuous variable transmission Market Revenue is set to grow at a moderate pace during the forecast period. The growth of the automotive sector is passively poised to encourage the expansion of the market over the next couple of years.
The replacement of planetary set in the automotive transmission by continuous variable transmission with two variable pulleys and metal belt/chain running between them has propelled the demand in the market. The trend is anticipated to perpetuate over the assessment period.
Continuous variable transmission optimizes fuel efficiency and enhances vehicle performance, which is expected to drive market growth in the foreseeable future. The factor responsible for encouraging Continuous variable transmission Market Revenue proliferation is enhanced driving experience with respect to improved acceleration and auto gear shifting.
Reduction of carbon emissions is the key area of focus for the Continuous variable transmission Market Revenue leaders. The adoption of continuous variable transmission technology has facilitated the compliance of stringent laws regarding the containment of carbon footprints. This, in turn, is projected to catapult the market on an upward trajectory.
By type, the global Continuous variable transmission Market Revenue has been segmented into hydrostatic, torodial, cone, variable geometry, and variable diameter.
By fuel, the Continuous variable transmission Market Revenue is segmented into gasoline, diesel, and hybrid.
By region, the global Continuous variable transmission Market Revenue has been segmented into Asia Pacific, North America, Europe, and the Rest of the World. North America is likely to have control over the most significant share of the market towards the end of the review period. The boom witnessed in the automotive sector in the region has aided the adoption of the technology there. Also, carbon emission regulations coupled with intense research & development activities are poised to fuel the expansion of the Continuous variable transmission Market Revenue in the region.
Europe is likely to retain the second spot in the global market. The presence of developed economies and the technologically advanced automotive sector has fuelled demand in the Continuous variable transmission Market Revenue in the region. Additionally, the stringent legislations regarding carbon emissions in Europe have further propelled the Continuous variable transmission Market Revenue expansion.
Asia Pacific encompasses emerging markets such as India and China which are likely to catalyze market proliferation in the region. Furthermore, the growth of the automotive sector in the region is also likely to aid the proliferation of Continuous variable transmission Market Revenue. The Rest of the World accounts for the least share. However, it exhibits potential for market penetration due to the prevailing gap between demand and supply.
Some of the key players profiled in the report by MRFR are BorgWarner, ZF Friedrichshafen AG, Aisin Seiki, Efficient Drivetrains, Jatco, Punch Powertrain, Toyota Motors, Folsom Technologies International, Hunan Jianglu & Rongda, and Hyundai Motor.
In August 2018, Ponsse, a leader in forestry vehicles and machinery, has released the new Bison forwarder. It is the first ever model from Ponsse to have a CVT transmission.