2014-02-05 14:43:02 - Global Continuously Variable Transmission Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global CVT market (Continuously Variable Transmission) is to grow at a CAGR of 7.92 percent over the period 2012-2016. One of the key factors contributing to this market growth is the presence of stringent fuel efficiency standards. The Global Continuously Variable Transmission market has also been witnessing the emergence of next-generation CVT. However, the adoption of the ultra-quick shift concept could pose a challenge to the growth of this market.
One of the main trends witnessed in the Global Continuously Variable Transmission market is the increasing demand for electric vehicles. The Continuously Variable Transmission for electric vehicles is used for extending the lives of the cars´ expensive and heavy batteries.
One of the main factors driving the market is the development
of lightweight automotive materials. Automobile and auto component manufacturers continually work on reducing the total weight of vehicles. To this end, they continually experiment with various lightweight automotive materials that can be used to manufacture vehicles or vehicle components.
One of the main challenges is the high cost of alternative fuel vehicles. Hybrid vehicles, electric vehicles, and fuel cell vehicles cost more than oil-driven vehicles, which makes them unaffordable for a majority of consumers. The high cost of these vehicles curtails the adoption of alternative fuel powertrains, which in turn has a negative effect on the Global CVT market.
The key vendors dominating this space include BorgWarner Inc., Fuji Heavy Industries Ltd., JATCO Ltd., and ZF Friedrichshafen AG.
The other vendors mentioned in this report are IAV Automotive Engineering Inc., LuK GmbH & Co. KG, and Ricardo plc.
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