Global Truck Transmission System Market 2019-2023 | Increased Use of Aluminum to Drive Growth | Technavio
LONDON--(BUSINESS WIRE)--Mar 14, 2019--The global truck transmission system market research report by Technavio predicts the market to post a CAGR of nearly 6% during the period 2019-2023.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190314005525/en/
The global truck transmission system market will post a CAGR of nearly 6% during the period 2019-2023. (Graphic: Business Wire)
Factors such as the increasing sale of trucks and growing penetration of automatic transmission system in trucks will contribute to truck transmission system market growth. Furthermore, the growing use of advanced technologies in transmission system in terms of design and development and the increased use of aluminum in truck transmission systems will boost market growth.
As per Technavio, the rising adoption of all-electric powertrains will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global truck transmission system market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
This report is available at a USD 1,000 discount for a limited time only:View market snapshot before purchasing
Global truck transmission system market: Rising adoption of all-electric powertrains
In developed automotive markets such as the US, Norway, Poland, and the Netherlands, the demand and sale of all-electric cars have been increasing rapidly. Increasing sales of electric cars is also being witnessed in developing automotive markets in APAC as well. This has led prominent players in the market to focus on developing all-electric powertrains for commercial vehicles such as pickup trucks, medium and heavy-duty trucks, and buses. In the last few years, OEMs of commercial cars are focusing on the development of all-electric trucks.
“The developments in the field of powertrain have been assisting in enhancing the overall performance and efficiency of trucks. This has resulted in vendors using innovative materials, advanced design, and increased number of gears to design and develop the electric truck transmission system,” says a senior research analyst at Technavio.
Global truck transmission system market: Segmentation analysis
This truck transmission system market analysis report segments the market by application (light-duty trucks and medium and heavy-duty trucks) and geography (APAC, Europe, MEA, North America, and South America).
The light-duty trucks segment held the largest truck transmission system market share in 2018. The high demand and production of light-duty trucks in North America has been driving the growth of this segment.
North America accounted for the highest share of the market in 2018. The use of advanced technologies to improve safety and vehicle dynamics has been promoting the adoption of automatic transmission systems in pickup trucks in the region.
Looking for more information on this market?Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base includes enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at [email protected].
View source version on businesswire.com:https://www.businesswire.com/news/home/20190314005525/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 03/14/2019 10:22 AM/DISC: 03/14/2019 10:22 AM