Market Research Future (MRFR) has projected in its latest report that the global continuous variable transmission market 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 proliferation is enhanced driving experience with respect to improved acceleration and auto gear shifting.
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Punch Powertrain, Toyota Motors, BorgWarner, Jatco, Aisin Seiki, Efficient Drivetrains, ZF Friedrichshafen AG, Hunan Jianglu & Rongda, Folsom Technologies International, and Hyundai Motor are some of the names influencing the global continuous variable transmission market Size using their strategic mechanisms. MRFR analysts recorded moves made in the past few years to get a complete picture of the market and understand how the flow of the market will benefit from these changes. Most of these techniques include procedures like merger, innovation, research funding, tie-up, acquisition, and others.
The global continuous variable transmission market Size study includes a segmentation comprising type and fuel. This study also relies much on data that have been filtered using scientific methods and standard parameters.
By type, the global report on the continuous variable transmission market Size includes hydrostatic, cone, torodial, variable diameter, and variable geometry.
By fuel, the market study of the continuous variable transmission market Size includes gasoline, diesel, and hybrid—the rise in intake of hybrid cars due to eco-friendly approaches to spur the market growth.
North America and Europe, with better rules to maintain the environmental norms, are expected to boost the continuous variable transmission market Size growth. These two regions also have several prominent automotive brands, which influence the market growth by spurring the intake of the product. In North America, better investment supports the easy incorporation of latest technologies, and enhance infrastructure is expected to provide thrust to the market. Asia Pacific will also register strong growth due to the burgeoning automotive sector.
In May 2020, Punch Powertrain announced that it had produced the 3 millionth Continuously Variable Transmission (CVT) in its production facility situated in Nanjing, China. The company had started operating in 1991 and since then, its top-notch CVT technology became a part of over 100 different car models across the world. These models are a part of 36 global car brands. At present, the company has a huge market in China and other Asian countries. Punch Powertrain’s CVT portfolio also indicates that the company has enjoyed a reputation for developing robust and cost-efficient transmission solutions. These can be tailored to fit the market needs.
In August 2020, Subaru of America, Inc. announced the pricing for the 2021 Forester compact SUV, one of the popular models the company has in its arsenal. The fifth-generation Forester is getting lauded for capability, most space, features, and safety technology and is by far the best among the lot. The 2021 Forester will come in five trim levels Premium, Sport, Base, Limited, and Touring. All Forester models have a 2.5-liter SUBARU BOXER® engine along with a Lineartronic® CVT and an excellent Subaru Symmetrical All-Wheel Drive.
During the COVID-19 pandemic, the global automotive sector witnessed a heavy slump in production due to various issues, which indirectly affected the global continuous variable transmission market Size. However, the market is gaining its foothold as countries have relaxed lockdowns and production has started.
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