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The AMT in commercial vehicles market size is forecast to increase by USD 1.24 billion at a CAGR of 5.1% between 2023 and 2028. The AMT market in the commercial vehicles sector is experiencing significant growth, driven by the increasing number of new launches in this segment. This trend is fueled by the benefits of AMTs, such as improved fuel efficiency and easier driving experience, particularly in heavy traffic conditions. However, the high initial and maintenance costs associated with AMTs remain a challenge for market expansion. Furthermore, the emergence of advanced technologies like 3D printing in truck components is expected to disrupt the commercial vehicle industry, potentially reducing production costs and increasing customization options for manufacturers. In summary, the AMT market in commercial vehicles is witnessing growth, but the high costs and the impact of emerging technologies present significant challenges that need to be addressed for sustainable market expansion.
The commercial vehicle market in North America is witnessing significant advancements in the realm of automated mileage tracking. This technology, also known as Automated Mileage Tracking System (AMT), plays a pivotal role in enhancing operational efficiency, reducing costs, and ensuring regulatory compliance in various sectors, including logistics and transportation. Electronic Control Units (ECUs) and sensor technologies form the backbone of AMT. These systems enable real-time monitoring of vehicle performance and fuel consumption, providing valuable insights for fleet management. The data collected is crucial for optimizing routes, reducing fuel costs, and maintaining vehicle health.
Moreover, e-commerce and fleet management are major applications for commercial vehicle AMTs, with the need for efficient and cost-effective transportation solutions. Smart Technologies and connectivity features are also gaining popularity, as consumer behavior continues to shift towards more convenient and technologically advanced solutions. Political and social factors, such as infrastructure investments and geopolitical tensions, can impact the market's growth. The market is expected to witness demand for electric and hybrid commercial vehicles, with safety systems and driver-assistance systems becoming increasingly important. Driver-assistance systems, such as automatic emergency braking and lane departure warnings, are gaining popularity. AMT integrates seamlessly with these systems, providing real-time data and analytics for improved safety and operational efficiency.
Similarly, geopolitical tensions and infrastructure investments can impact the commercial vehicle market, including the adoption of AMT. Political instability in certain regions may disrupt supply chains, necessitating more efficient logistics solutions. Infrastructure investments, particularly in the area of charging infrastructure for electric and hybrid commercial vehicles, can influence the market dynamics. Historical data and projected data reveal a steady growth trend for AMT in the commercial vehicle market. As the technology continues to evolve, it is expected to offer even more benefits, such as improved driver behavior analysis and predictive maintenance capabilities. In conclusion, AMT is a critical technology shaping the future of commercial vehicle operations in North America. Its ability to enhance efficiency, reduce costs, and ensure regulatory compliance makes it an essential tool for logistics, transportation, and e-commerce industries. As the market continues to evolve, the role of AMT in optimizing fleet management and promoting sustainable transportation solutions will only grow.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The OEM segment is estimated to witness significant growth during the forecast period. Commercial vehicle Original Equipment Manufacturers (OEMs) play a pivotal role in integrating Advanced Motor Technology (AMT) systems into their vehicles, catering to the unique needs and preferences of customers globally. Notable OEMs include AB Volvo Group and Scania AB, who are spearheading innovation and technological advancements in the AMT market for commercial vehicles. The market is witnessing significant growth due to the increasing focus on fuel efficiency, driver fatigue reduction, and logistics optimization in transportation. Electronic Control Units (ECUs) and sensor technologies are being integrated into commercial vehicles to enhance operational efficiency and adhere to emission regulations. As consumer preferences lean towards eco-friendly and technologically advanced solutions, the demand for AMT systems in commercial vehicles is expected to surge.
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The OEM segment was valued at USD 3.43 billion in 2018 and showed a gradual increase during the forecast period.
Europe is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In Europe, the commercial vehicles market holds significant long-term potential due to the increasing demand for transportation solutions that cater to various industries. This sector is expected to experience steady growth as a result of factors such as expanding economies, urbanization, and infrastructure development. The market is driven by the need for efficient and cost-effective transportation solutions, particularly in sectors like logistics, construction, and agriculture. Companies are investing in research and development to introduce innovative products that cater to evolving customer needs. Hence, such factors are fuelling the growth of the market in Europe during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
An increase in new launches of AMT in commercial vehicles is the key driver of the market. The commercial vehicle market in the United States has experienced significant growth in the adoption of Advanced Manual Transmission (AMT) systems. This trend is driven by various factors, including increasing e-commerce activities, fleet management needs, and emission regulations. Eco-friendly and fuel-efficient vehicles are in high demand, and AMTs offer a balance between manual and automatic transmissions, providing improved fuel efficiency, reduced driver fatigue, and enhanced vehicle performance. Smart technologies and connectivity features are becoming essential for commercial vehicles, and AMTs are incorporating these advancements to meet consumer expectations. Evolving consumer preferences, technological advancements, and regulatory requirements are reshaping the AMT market in the US.
As the demand for eco-friendly and efficient commercial vehicles continues to rise, the market for AMTs is expected to grow steadfastly. Fleet managers are increasingly turning to AMTs due to their cost-effectiveness and ease of use. The integration of smart technologies and connectivity features in AMTs enables real-time vehicle monitoring, predictive maintenance, and improved driver safety, making them an attractive option for fleet management companies. The future of commercial vehicles lies in advanced transmission systems, and AMTs are leading the charge towards a more sustainable and efficient transportation industry.
The emergence of 3D printing in truck components is the upcoming trend in the market. Additive manufacturing (AM), also known as 3D printing, is a cutting-edge technology that constructs three-dimensional objects by adding material layer by layer, based on digital model data from a CAD model or AMF file. This method contrasts traditional manufacturing processes, which involve removing material from a stock. In the commercial vehicle industry, AM is gaining significant attention due to its potential for cleaner transportation and increased efficiency. Advanced technologies such as electrification and automation are driving the adoption of AM in commercial vehicles. The integration of AM in commercial vehicles is expected to lead to the production of complex components with intricate geometries, reducing the need for multiple parts and simplifying the manufacturing process. This not only leads to cost savings but also contributes to a more sustainable and eco-friendly manufacturing process. The use of AM in commercial vehicles is a growing trend and is expected to continue to gain momentum in the future.
High initial and maintenance costs of AMTs is a key challenge affecting the market growth. The integration of Automated Manual Transmission (AMT) technology in commercial vehicles has become a topic of significant interest in the US market. However, the adoption of this technology faces challenges due to various factors. One of the major obstacles is the substantial initial investment required to implement AMT systems. The cost of an AMT system can vary depending on the vehicle make, model, and specifications. For instance, the cost can range between USD1,000 and USD5,000. For example, the Ford Transit and Ram ProMaster, both available with AMT, are priced around USD2,500 and USD3,500, respectively. Moreover, the operational costs of maintaining an AMT system can be higher than those of a conventional manual transmission.
These costs include software algorithms updates and potential repairs. Consumer behavior and societal trends, such as a growing concern for carbon footprint reduction, may influence the demand for AMTs in the future. Political factors, including government regulations, can also impact the market's growth. To mitigate the initial investment and operational costs, manufacturers and fleet operators can explore financing options and maintenance plans. By considering these factors, businesses can make informed decisions about adopting AMT technology in their commercial vehicle fleets.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AB Volvo: The company offers automated manual transmission solutions such as I-Shift automated manual transmission, the Mack mDRIVE Automated Manual Transmission and others.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The commercial vehicle market is witnessing significant advancements in Advanced Technology (AMT) as the transportation industry strives for cleaner, more efficient, and connected solutions. Fuel efficiency and eco-friendly practices are top priorities, leading to the integration of electronic control units, sensor technologies, and software algorithms. Emission regulations are driving the adoption of next-generation systems, including electrification through electric and hybrid vehicles, and automation through driver-assistance systems. Logistics and fleet management are being revolutionized by smart technologies, connectivity features, and real-time data analysis. Consumer behavior and social factors are influencing the shift towards sustainable practices and alternative energy sources.
Moreover, political factors, such as geopolitical tensions and infrastructure investments, also play a role in the technological adoption and digitalization of the commercial vehicle market. Operational efficiency and environmental impact are key concerns for commercial vehicle operators. Advanced technologies, including automation, safety systems, and emissions regulations, are essential to reducing operational costs and carbon footprint. The long-term potential of AMT in the commercial vehicle market is vast, with the integration of cleaner transportation solutions, efficient next-generation systems, and consumer preferences shaping the future of the industry.
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Market Scope |
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Report Coverage |
Details |
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Page number |
205 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.1% |
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Market growth 2024-2028 |
USD 1.24 billion |
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Market structure |
Concentrated |
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YoY growth 2023-2024(%) |
4.46 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 47% |
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Key countries |
US, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AB Volvo, BorgWarner Inc., Chery Automobile Co. Ltd., Dana Inc., Eaton Corp plc, Hyundai Heavy Industries Group, Mercedes Benz Group AG, Robert Bosch GmbH, Scania AB, Schaeffler AG, Shaanxi Fast Auto Drive Group Co., Ltd, Volkswagen AG, and ZF Friedrichshafen AG |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Type
9 Market Segmentation by Vehicle Type
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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