Continuously Variable Transmissions CVT Market Size, Share, Growth, and Industry Analysis, By Type (Belt-Chain Drive CVT & Planetary CVT), By Application (Below 1.5 L, 1.5 L 3 L & Above 3 L) and Regional Forecast to 2032

Updated On: 04 November 2024

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CONTINUOUSLY VARIABLE TRANSMISSIONS CVT MARKET REPORT OVERVIEW:

The Continuously Variable Transmissions CVT Market Size is Projected to be worth US$ 21817.79 Million in 2024. The market is likely to surpass US$ 32300 Million by 2032 at a CAGR of 4% During the Forecast period [2024-2032].

Continuously Variable Transmission, or CVT, is an improved, fully automatic transmission that does not have any gears but relies on a planetary gear design technology that allows for adjustment of the transmission ratio. While conventional automatic transmissions utilise a set number of gears, a CVT utilises two pulleys connected with a belt or chain, which gives you a near limitless amount of gear ratios in a particular range. This thus enables efficient engine performance as well as fuel economy since the engine can run at its sweet spot for diverse driving situations.

COVID-19 Impact: Market Growth Restrained due to Disruptions of Manufacturing and Supplies

The Global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Some of the challenges that the CVT market experienced during the COVID-19 outbreak were severe disruptions of manufacturing and supplies because of lockdowns and restrictions. A cutdown in automobile production around the world and a decline in customer purchasing power due to the financial crisis resulted in low sales volumes and profit losses amongst manufacturers. Also, timely supply of components and raw materials was also affected, which caused more troubles to production timetables.

LATEST TRENDS

"Electrical and Hybrid Transaxles to Propel the Market Growth"

The newer trends in the CVT market include enhanced application of innovative technologies that can easily supplement CVT, including the electrical and hybrid transaxles well suited for CVTs to deliver a smooth and efficient driving pattern with improved fuel economy. The demand for better-rated CVTs with increased durability and constant friction reduction is also rising with the aim of enhancing overall fuel efficiency and decreasing the lifecycle cost. Also, progress in materials and design permits creating new and even more compact and lighter types of CVTs that improve the general vehicle performance.

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CONTINUOUSLY VARIABLE TRANSMISSIONS CVT MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Belt-Chain Drive CVT & Planetary CVT for Rear Silver Paste

• Belt-Chain Drive CVT:Incorporates a belt or chain between two pulley assemblies with variable diameter in a method that may alter gear ratio at all times. This type is prevalent in scooters, compact cars, and other small automobiles because of its low cost and simplicity. Deceleration is smooth, and the fuel use is reasonable; besides, the car requires slightly more complex maintenance than a mid-cycle model.

• Planetary CVT:It makes use of a set of planetary gears to enable users to have a consistent variation of the gear ratio. Primarily used in commercial vehicles and luxury cars, as they offer good performance as well as durability. Even smaller and able to deliver greater power levels, with better material characteristics for use in higher power applications.

By Downstream Industry

Based on application the market can be categorized into Below 1.5 L, 1.5 L 3 L & Above 3 L

• Below 1. 5 L:Majorly fitted on small cars, scooters, and diesel compartments or any other small and compact automobile. Developing lower cost and improved fuel efficiency with reduced complexity in CVT structures.

• 5 L- 3 L:Usually found in compact and midsize sedans and some compact and midsize crossovers. It provides the best compromise of performance, fuel efficiency, and comfort, which may include the enhanced CVT systems.

• Above 3 L:Common in big cars, luxury and high-performance cars, and those cars built using the more advanced and sophisticated auto technologies. Introspected newer, improved, and sturdier forms of CVT technologies that can support higher power outputs and greater performance.

DRIVING FACTORS

"Fuel Efficiency and Emissions Regulations to Expand the Market"

One of the key driving factors of Continuously Variable Transmissions CVT Market growth is the Fuel Efficiency and Emissions Regulations. The trends towards the utilisation of fuel-efficient continuously variable transmission gadgets and globally developed policies on emissions are major driving forces in the CVT market. These requirements can be met with the help of CVTs due to their ability to optimise characteristics of the engine and decrease fuel consumption, which makes CVTs interesting for manufacturers interested in obeying eco requirements.

"Advancements in Automotive Technology to Advance the Market"

Ongoing advancements and incorporations of new age auto technologies like hybrid and electric powertrains are fuelling the demand for CVT. CVTs are ideal for these technologies because they give smooth power output and eradicate efficiency, which is characteristic of most modern hi-tech automobiles.

RESTRAINING FACTOR

"High Production Costs to Pose Potential Impediments on this Market"

The high level of sophistication in the construction of these imperative CVTs, especially the planetary ones, implies higher costs of production relative to the conventional automatic transmission systems. They can hence restrain their use in the low-price ranges of the automotive market and present a hurdle to broad use.

OPPORTUNITY

"Growing Demand for Hybrid and Electric Vehicles to Create Opportunity for the Market"

It is for this reason that the rising use of hybrid and electric vehicles is deemed a significant opportunity for the CVT market. These have characteristics that make them ideal for the power delivery on such vehicles, mainly in their silky nature. The automotive industry is already moving towards electrification, and thus future demand for CVTs in these sophisticated powertrains should increase. 

CHALLENGE

"Technological Complexity and Reliability Concerns to Pose Challenge on the Market"

One of the main drawbacks of sophisticated technology is CVT, especially in terms of controlling its performance and wearing characteristics when confronted with different driving situations. However, keeping up quality and reliability in the long run as well as controlling the complexity of the CVT systems pose challenges to the manufacturers.

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CONTINUOUSLY VARIABLE TRANSMISSIONS CVT MARKET REGIONAL INSIGHTS

• North America

North America has emerged as the most dominant region in the Continuously Variable Transmissions CVT Market share. Ongoing production of major automakers and great concern with emissions and sophisticated powertrain technologies. Mid-sized and luxury automobile manufacturers have shifted towards using CVTs to meet demands from countries with emission legislation and consumers’ increasing preference for fuel efficiency. In U.S. on top of the automotive market with long-term investments in new technologies and supporting consumers’ tendency toward efficient vehicles. 
High demand in hybrids and fuel-efficient automobiles due to emission control standards majorly rubberised by continuous variable- transmissions (CVTs) widespread among different types of vehicles.

• Europe

Emission requirements are high on most vehicles, and environmental conservation is given utmost priority, hence the use of efficient transmission systems. CVTs are used on both small and high-end cars, which is in line with Europe’s shift towards efficiency and less emission.

• Asia

One of the largest production centres with a well-developed automotive market and increasing demand for fuel-efficient and hybrid vehicles. The high use of CVTs in almost all categories of automobiles, from compact cars to hybrids, reflects the regions identification of affordability and efficiency.

KEY INDUSTRY PLAYERS

"Key Players Transforming the Continuously Variable Transmissions CVT Market through Advancements in Research"

Some of the market’s primary tycoons contribute to the determination of the CVT market through their procurement of advancements in research, which leads to enhanced CVT technology. Several automakers and transmission specialists are steering the developments of various CVT layouts, improving performance, fuel economy, and durability. Their mergers and acquisitions also influence the market’s dynamics by advancing in technology and extent in coverage. Also, these players can establish standards and trends in the automotive market by incorporating sophisticated types of CVTs across various car models and thus promote the general market diffusion of such technologies.

LIST OF MARKET PLAYERS PROFILED

• Wanliyang (China)
• JATCO (Japan)
• Subaru Corporation (Japan)
• Torotrak (U.K.)
• Company five (U.S.)

INDUSTRIAL DEVELOPMENT

2024: On its aspect, one that should be pointed out in Jatco Ltd. is CVT-X. This new generation CVT is intended for medium- to large FWD vehicles, as Katayama explained earlier. It brings better output torque, fuel economy, and NVH aspects. One of the vehicles that has applied this technology is the Nissan Qashqai through the CVT-X.

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global Continuously Variable Transmissions CVT Market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.