LONDON--(BUSINESS WIRE)--Oct 7, 2019--

The commercial vehicle transmission market size is expected to post a CAGR over 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global commercial vehicle transmission market 2019-2023. (Graphic: Business Wire)

The rising adoption of electric commercial vehicles is one of the major reasons for the growth of the market. Vehicle manufacturers, government bodies, vehicle solution providers, such as battery manufacturers are increasingly focusing on improving the feasibility and affordability of electric vehicles. Such initiatives are expected to positively impact the adoption of electric vehicles, especially electric trucks. Unlike passenger cars, electric commercial vehicles require more power to haul cargo effectively. This will increase the demand for automatic transmission, thereby fueling the growth of the market during the forecast period.

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As per Technavio, the emergence of 3D printing in truck components will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Commercial Vehicle Transmission Market: Emergence of 3D Printing in Truck Components

3D printing or additive manufacturing (AM) has been gaining prominence in the production of truck components over the years. This technology is being used to manufacture engine, transmission, and other automotive parts with some vital 3D-printed components. The 3D printed components in transmission system would reduce the weight of the transmission by about 20%. Thus, the growing trend of 3D printing will drive the growth of the commercial vehicle transmission market during the forecast period.

“Apart from the emergence of 3D printing in truck components, other factors such as the development of 2-speed transmission for electric heavy-duty trucks, and the increasing popularity of 10-speed transmission in commercial vehicles will have a significant impact on the commercial vehicle transmission market growth during the forecast period, ” says a senior analyst at Technavio.

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Commercial Vehicle Transmission Market: Segmentation Analysis

This market research report segments the global commercial vehicle transmission market by type (automatic transmission, manual transmission, and automated manual transmission) and by region (North America, Europe, APAC, South America, and MEA).

The North American region led the market in 2018, followed by APAC, Europe, South America, and MEA respectively. The market dominance of North America can be attributed to factors such as the high demand for trucks, presence of well-laid road network and infrastructure, and increase in demand for commercial vehicles in the region.

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.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Technavio

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 consists of 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/20191007005313/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE MANUFACTURING MANUFACTURING AUTOMOTIVE

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 10/07/2019 04:00 AM/DISC: 10/07/2019 04:00 AM

http://www.businesswire.com/news/home/20191007005313/en