Automotive gearbox market demand
The gearbox is one of the most important components in the automotive powertrain. Since the end of the last century, the annual sales growth of China's automatic transmission has been higher than that of passenger cars. Domestic cars did not have automatic transmissions more than 20 years ago. Today, the rate of loading automatic transmissions has exceeded 1/3. With the rapid development of the entire vehicle industry, China's automobile transmission industry is also growing, forming a number of companies such as Fast and Geely.
Many self-owned brand transmission enterprises adhere to independent innovation and have achieved certain achievements in the introduction of foreign advanced technologies. In the field of manual gearboxes, especially for heavy-duty vehicles and manual transmissions for mini vehicles, a large number of innovative products have emerged. In addition, multinational companies that solely funded or joint venture gearbox companies set up factories in China have made contributions to meeting the continued rapid growth of the Chinese automotive market. In 2016, the sales revenue of the Chinese automotive transmission industry reached 153.168 billion yuan.