North America Dual Clutch Transmissions Market Growth Opportunities and Forecast by 2028

The North America dual clutch transmission market is expected to reach US$ 4,738.70 million by 2028 from an estimated value of US$ 2,711.65 million in 2021; it is likely to grow at a CAGR of 8.3% from 2021 to 2028.

The demand for dual clutch transmission is increasing at a prime rate for SUVs. The rising demand for SUVs globally is boosting the growth of the dual clutch transmission market. The popularity of SUVs continues to grow in almost every market in the world. As the global marketplace declines following trade tensions and a slowdown in the Chinese market, car manufacturers look for new ways to expand their market. The shifting interest of customers from sedans or hatchbacks to SUVs started around seven years ago and is still growing strong. The increasing preference of consumers for SUVs is forcing vehicle manufacturers to focus on integrating advanced dual clutch transmission in vehicles. This corresponds with a drop in consumer spending capabilities. The US was the second-biggest SUV market, and, unlike China, all manufacturers showed sales increases in 2019. General Motors (GM) kept the lead but squandered market share to Toyota, Nissan, Ford, and Honda. FCA, the second-largest SUV manufacturer, overtook shares, owing to the new Jeep Wrangler and Compass. VW Group, Hyundai-Kia, Mazda, Subaru, and BMW Group were among the other major SUV market shareholders. Toyota RAV4 was the best-selling SUV in the US. Furthermore, advanced techniques such as dual clutch transmission systems are used by automotive OEMs to minimize fuel consumption and CO2 emissions while preserving performance. Hence, the increasing concern about fuel economy and CO2 emission will propel market growth.

North America is among the worst-hit regions by the COVID-19 pandemic. The continuous growth of infected individuals has led the North American governments to impose lockdown across borders. The majority of the manufacturing plants were shut down, municipalities were functioning slowly compared to the past, and the automotive industries were halted. The COVID-19 outbreak negatively impacted the automotive industry in the region. Assembly plant closures are adding to the intense pressure on an increasingly distressed North America supply base in the US. Companies are at risk of defaulting on covenants, potentially requiring banks to step in.

Further, according to the Accenture website data, sales forecast for the US estimated a decline of 9% annually as consumers are not buying new vehicles due to the pandemic. Thus, limited supply of vehicle parts, shutdowns of manufacturing plants, supply chain disruption, and drop in new vehicle sales have negatively impacted the North America dual clutch transmission market. However, in 2021, with the relaxation of lockdown restrictions and the beginning of vaccination processes, automotive production has started again, which will help create a favorable scenario for the North America dual clutch transmission market growth.

NORTH AMERICA DUAL CLUTCH TRANSMISSION MARKET SEGMENTATION

By Vehicle Type

• Passenger Car
• Commercial Vehicle

By Propulsion Type

• Internal Combustion Engine (ICE)
• Hybrid

By Vehicle Segment

• A/B
• C
• D
• E and Above
• SUV

By Forward Gears

• 6 and Below
• 7
• 8 and Above

By Country

• US
• Canada
• Mexico

Company Profiles

• Magna International Inc.
• Schaeffler Technologies AG & Co. KG
• BorgWarner Inc.
• Daimler AG
• Volkswagen AG
• ZF Friedrichshafen AG
• OC Oerlikon Management AG
• Ricardo
• Renault Group
• Hyundai Transys

North America Dual Clutch Transmissions Report Scope