Commercial Vehicle Transmission Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025
Technavio has been monitoring the commercial vehicle transmission market and it is expected to grow by 5.73 mn units, accelerating at a CAGR of almost 5% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Commercial Vehicle Transmission Market: Key Trends to impact market growth
Rising adoption of electric commercial vehicles is an important driver that will augment the growth of the commercial vehicle transmission market. Vehicle manufacturers are very keen on working toward improving the reliability and adoption of electric vehicles. Electric commercial vehicles require more power to be effective for hauling cargo. With the growth in battery technologies to cater to the power and performance needs of electric commercial vehicles, the adoption has started rising across the regions. Vehicle manufacturers, government bodies, and electric vehicle solution providers, such as battery manufacturers, have been continuously working on improving the feasibility and affordability of electric vehicles. Such initiatives are expected to positively impact the adoption of electric commercial vehicles, mainly electric trucks. This will further help in the growth of the commercial vehicle transmission market. This research report provides a detailed impact analysis of all the trends that are likely to influence the growth of the market in focus.
Commercial Vehicle Transmission Market: Top Drivers to Boost Demand
Increasing adoption of AMT in medium- and heavy-duty trucks is one of the primary factors driving the growth of the commercial vehicle transmission market. The global commercial vehicles market is witnessing a rapid transformation toward the adoption of technological improvements in the transmission system The report provides a detailed study of all the factors that are likely to boost the market. This analysis will enable clients to leverage growth opportunities to their advantage and set their business.
41% of the market growth will originate from North America owing to factors such as low fuel prices and increasing traffic congestion. The US, Mexico, and Canada are the key markets for commercial vehicle transmission market in North America. However, market growth in this region will be slower than the growth of the market in other regions over the forecast period.
Vendor Analysis: Aisin Corp, Allison Transmission Holdings Inc. and BorgWarner Inc. are key growth contributors
The market is fragmented. The research report provides insights into the top market player and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. 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 are some of the major market participants.
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Commercial Vehicle Transmission Market: Key Highlights of the Report for 2021-2025