Transmission is a set of gears within a casing that allows controlled application of the power using different gear
ratios. The switching of gears can be done manually by the driver of the vehicle or automatically, depending on
the type of transmission used in the vehicle. In India, manual transmission is used for CVs and tractors, while
automatic transmission is used for SUVs.

The current market size of transmission for CVs, SUVs, and tractors is ~Rs. 280 billion, which is expected to
reach ~Rs. 385 billion by fiscal 2024.

Market share of transmission by vehicle segment (fiscal 2020: Rs 280 billion)

 

= Commercial vehicles = Tractors =SUV = Offroad vehicles
Source: CRISIL Research
Rear axle

Rear axle lies between the wheels and the differential gear that transmits power from the differential to the wheels.
The differential gear and rear axle are enclosed in a single housing that is connected to the drive shaft. Auto-
component manufacturers use the process of forging/ castings, post which heat treatment and machining is done
for the finished product. The current market size of rear axle for CVs, SUVs and off-road vehicles is Rs 73.8
billion, which is expected to reach ~Rs 90.3 billion by fiscal 2024.

Market share of rear axle by vehicle segment (fiscal 2020: Rs 73.8 billion)

 

= Commercial vehicles =SUV_ = Off road vehicles
Source: CRISIL Research

Key players in powertrain and transmission manufacturing and machining across segments

FOR a a ew eee mere re EMO a

 

 

 

 

 

 

 

 

 

 

 

ass ees Pe INC ee CU ore ol tne

Avtec Lid.

Endurance Ltd. v

Jaya Hind industries Ltd. v V V V I
‘Sundaram Clayton V v V [

Alicon cast Alloy v v |

Ashok Iron works v Vv
Continental Engines N | V
DCM engineering Products v V V | Vv
| Hinduja Foundaries V v Vv | v
Nelcast v v
Kirloskar Ferrous Industries V V V V

 

 

 

 

 

 

129
