Motor vehicle transmission and power train parts sales in the US have shown a general upward trend from 2013 to 2023, with a significant dip in 2020 due to external disruptions. The sales value stood at $43.794 billion in 2023, marking a 1.15% year-on-year growth. Over the last two years (2022-2023), the average annual growth rate was 1.23%, while the five years preceding 2023 saw a modest CAGR of 1.23%. Despite intermittent fluctuations, the forecasted data suggests a steady rise with an average growth rate of 0.93% annually, reaching $46.278 billion by 2028.
Key future trends to watch for include the impact of electric vehicle (EV) adoption, advancements in autonomous driving technologies, and potential supply chain disruptions. These factors are likely to shape the demand dynamics and growth trajectory in the coming years.
