Commercial Vehicle Transmission Market Analysis Highlights the Impact of COVID-19 (2020-2024) | Rising Adoption of Electric Commercial Vehicles to Boost Market Growth | Technavio

LONDON--(BUSINESS WIRE)--Sep 8, 2020--

The commercial vehicle transmission market is expected to grow by 0.36 million units during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

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Technavio has announced its latest market research report titled Global Commercial Vehicle Transmission Market 2020-2024 (Graphic: Business Wire)

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Vehicle manufacturers, government bodies, and electric vehicle solution providers across the world are continuously working on improving the feasibility and affordability of electric vehicles. Such efforts are increasing the adoption of electric vehicles, including electric commercial vehicles. Prominent automakers such as Volvo, Ford Motor, and General Motors have already started introducing electric commercial vehicles such as electric trucks and electric buses. Besides, the market is witnessing an increased demand for electric commercial vehicles from fleet management companies and logistics service providers. Electric vehicles are equipped with automatic transmission. Therefore, the increased adoption of electric commercial vehicles will drive the growth of the global commercial vehicle transmission market during the forecast period.

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As per Technavio, the increasing adoption of AMT in medium and heavy-duty trucks will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Commercial Vehicle Transmission Market: Increasing Adoption of AMT in Medium and Heavy-duty Trucks

The growing need to reduce fatigue during long-distance driving has led several fleet management companies to shift from MT to AMT. Also, the use of AMT in light and heavy-duty trucks improves fuel efficiency, which results in reduced vehicular emissions. The growing demand for AMT is encouraging several automobile manufacturers to introduce AMT in their offerings. For instance, in August 2019, Daimler Trucks North America reported that 90% of its Freightliner Cascadia truck models in North America were equipped with AMT. Such increasing adoption of AMT in medium and heavy-duty trucks is expected to fuel the growth of the global commercial vehicle transmission market during the forecast period.

“Increasing preference for captive consumption and the emergence of 3D printing in truck components will further boost 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 commercial vehicle transmission market by Type (Automatic transmission, Manual transmission, and Automated manual transmission) and Geography (North America, APAC, Europe, South America, and MEA).

The North America region led the commercial vehicle transmission market in 2019, followed by APAC, Europe, South America, and MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the penetration of global automotive OEMs in emerging markets such as India, China, and Indonesia.

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Some of the key topics covered in the report include:

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 17,000 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.

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CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:[email protected]



SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 09/08/2020 12:30 PM/DISC: 09/08/2020 12:30 PM

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