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The global commercial vehicle transmission market share is expected to increase by USD 5.73 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.78%.
This global commercial vehicle transmission market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers global commercial vehicle transmission market segmentation by type (automatic transmission, manual transmission, and automated manual transmission) and geography (North America, APAC, Europe, South America, and MEA). The global commercial vehicle transmission market report also offers information on several market vendors, including Aisin Corp, Allison Transmission Holdings Inc., BorgWarner Inc., Daimler AG, Dana Inc., Eaton Corporation Plc, Grupo KUO SAB de CV, Magna International Inc., Ricardo Plc, and ZF Friedrichshafen AG among others.
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Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing adoption of amt in medium- and heavy-duty trucks is notably driving the global commercial vehicle transmission market growth, although factors such as fluctuating cost of raw materials may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the global commercial vehicle transmission industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Commercial Vehicle Transmission Market Driver
The increasing adoption of AMT in medium- and heavy-duty trucks is one of the key factors driving the growth of the global commercial vehicle transmission market. The use of AMT in heavy-duty vehicles offers fuel economy benefits, which results in reduced vehicular emission levels. However, MT is still dominant in medium- and heavy-duty trucks in developing economies in APAC due to the high price sensitivity in the region. In addition, poor road infrastructure in certain APAC countries makes the use of AMT or AT in heavy-duty vehicles unfeasible. Therefore, the penetration of AMT is still lesser in APAC when compared with other regions. European and North American countries are the major contributors to the adoption of AMT/AT in medium- and heavy-duty trucks. In addition to new companies, existing manufacturers, such as Volvo and Daimler, have reported an increase in the adoption of AMT in trucks. Such increasing adoption of AMT in medium- and heavy-duty trucks has positively impacted the global commercial vehicle transmission market. Moreover, the increasing adoption of AMT in medium- and heavy-duty trucks is expected to drive the global commercial vehicle transmission market, in terms of revenue, during the forecast period.
Key Commercial Vehicle Transmission Market Trend
The emergence of 3D printing in truck components will fuel the global commercial vehicle transmission market growth. Additive manufacturing (AM) is often referred to as 3D printing as it works in a similar way to a laser printer. However, 3D printing is used in both rapid prototyping and AM. The technique builds a solid object from a series of layers, each one printed directly on top of the previous one. In AM, objects of any shape or geometry are produced using digital model data from a 3D model or electronic data sources such as an additive manufacturing file (AMF). Hence, unlike the conventional machining process, where the material is removed from stock, AM builds a 3D object from a computer-aided design (CAD) model or AMF file by successively adding material layer by layer. Moreover, Daimler started to 3D print plastic and aluminum spare parts for trucks in the European market in late 2016. These 3D printed aluminum parts have 100% density and greater purity than conventional die-cast aluminum parts. As aluminum is increasingly used in transmission components, 3D printed aluminum is expected to be adopted in commercial vehicle transmission during the forecast period.
Key Commercial Vehicle Transmission Market Challenge
The fluctuating cost of raw materials is a major challenge for the global commercial vehicle transmission market growth. Raw materials play a significant role in the pricing of commercial vehicle transmission. The major raw materials that are used in commercial vehicle transmission are steel, hardened steel, cast iron, and aluminum. Fluctuations in the cost of raw materials are directly correlated to the price of transmissions, which are manufactured across the world. The cost of these raw materials keeps fluctuating based on various macroeconomic factors such as inflation, labor cost, and regulatory policy changes. Such factors of supply-demand imbalance are expected to keep the cost of raw materials volatile during the forecast period. Fluctuations in the cost of raw materials make manufacturing industries, including commercial vehicle transmission manufacturers, uncertain about their raw material procurement plans. This is expected to be a challenge for the growth of the global commercial vehicle transmission market during the forecast period.
This global commercial vehicle transmission market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
The global commercial vehicle transmission market is a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the global commercial vehicle transmission market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the global commercial vehicle transmission market encompasses successful business strategies deployed by the key vendors. The global commercial vehicle transmission market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The global commercial vehicle transmission market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the global commercial vehicle transmission market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global automotive components and accessories market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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41% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for global commercial vehicle transmission market in North America. Market growth in this region will be slower than the growth of the market in regions.
The increasing adoption of AMT in medium- and heavy-duty trucks will facilitate the global commercial vehicle transmission market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The automotive market in North America is mature, and its growth in the region is highly dependent on the GDP of the US. However, US GDP is likely to witness slow growth during the forecast period due to the US-China trade war and the ongoing COVID-19 outbreak, which will put pressure on the sales of new commercial vehicles. However, in 2021, the initiation of large-scale vaccination drives has lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Such factors are expected to drive the market during the forecast period.
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The global commercial vehicle transmission market share growth by the automatic transmission segment will be significant during the forecast period. The high adoption of automatic transmission systems is witnessed in North America as SUVs are considered light-duty trucks in this region. Almost all SUVs are equipped with an automatic transmission system. Therefore, more than 85% of light-duty vehicles sold in North America, mainly in the US, are equipped with automatic transmission. Low fuel prices and increasing traffic congestion are the major factors that are driving the adoption of automatic transmission in North America. Such factors will increase the market in focus during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the global commercial vehicle transmission market size and actionable market insights on post COVID-19 impact on each segment.
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Global Commercial Vehicle Transmission Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.78% |
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Market growth 2021-2025 |
$ 5.73 million |
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Market structure |
Fragmented |
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YoY growth (%) |
4.13 |
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Regional analysis |
North America, APAC, Europe, South America, and MEA |
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Performing market contribution |
North America at 41% |
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Key consumer countries |
US, China, Mexico, Japan, and Canada |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Aisin Corp, Allison Transmission Holdings Inc., BorgWarner Inc., Daimler AG, Dana Inc., Eaton Corporation Plc, Grupo KUO SAB de CV, Magna International Inc., Ricardo Plc, and ZF Friedrichshafen AG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our 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 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 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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