Commercial Vehicle Transmission Oil Pump and Transmission System Market Scope 2031
The commercial vehicle transmission oil pump and transmission system market size is projected to reach US$ 51,443.23 million by 2031 from US$ 32,793.17 million in 2023. The market is expected to register a CAGR of 5.8% during 2023–2031. The increasing demand for the electric transmission oil pumps with increased sale of the commercial vehicles across the globe is driving the trend in the market.
Commercial Vehicle Transmission Oil Pump and Transmission System Market Analysis
The commercial vehicle transmission oil pump and transmission system market is expected to witness significant growth in the coming years attributing to increasing demand for commercial vehicles from developing nations and growing trend of AMT transmission in commercial vehicles. Innovations and technological advancements are key stones of the US economy. The country retains technology supremacy in the various component of automobiles. This presents a significant opportunity for the commercial vehicle transmission oil pumps and transmission systems manufacturers to produce advanced technology commercial vehicles.
Commercial Vehicle Transmission Oil Pump and Transmission System Market Overview
Automotive is one of the key sectors driving the economy of Middle East with an increasing number of vehicles production. Saudi Arabia has one of the world’s largest vehicle population ratio. Saudi Arabia, the UAE, and Kuwait lead the gulf countries in terms of automobile on the road. The per capita income of these countries is high. Hence, the region is one of the ideal markets for the automotive sector due to the strong purchasing power of consumers
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Commercial Vehicle Transmission Oil Pump and Transmission System Market: Strategic Insights
Commercial Vehicle Transmission Oil Pump and Transmission System Market
-
CAGR (2023 - 2031)
5.8%
-
Market Size 2023
US$ 32,793.17 million
-
Market Size 2031
US$ 51,443.23 million
Market Dynamics
GROWTH DRIVERS
- Increasing Demand for Automatic and Semi-Automatic Transmission System
FUTURE TRENDS
- Transmission System for Electric Commercial Vehicle
OPPORTUNITIES
- The increasing demand for the electric transmission oil pumps with increased sale of the commercial vehicles across the globe
Key Players
- Allison Transmission Holding INC
- BorgWarner Inc
- Qijiang Gear Transmission Co Ltd
- Daimler AG
- Eaton Group
- Mack Trucks
- Scania
- Sinotruk Hong Kong Limited
- Shaanxi Fast Auto Drive Co Ltd
- Volvo AG
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Offering
- Transmission Oil Pump and Transmission System
Oil Pump Product Type
- Fixed Displacement Pump and Variable Displacement Pump
Oil Pump Type
- Vane Type
- Gear Type
- Rotor Type
Transmission System Type
- Manual Transmission
- Automatic Transmission
- Automated Manual Transmission
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Commercial Vehicle Transmission Oil Pump and Transmission System Market: Strategic Insights
-
CAGR (2023 - 2031)5.8% -
Market Size 2023
US$ 32,793.17 million -
Market Size 2031
US$ 51,443.23 million
Market Dynamics
- Increasing Demand for Automatic and Semi-Automatic Transmission System
- Transmission System for Electric Commercial Vehicle
- The increasing demand for the electric transmission oil pumps with increased sale of the commercial vehicles across the globe
Key Players
- Allison Transmission Holding INC
- BorgWarner Inc
- Qijiang Gear Transmission Co Ltd
- Daimler AG
- Eaton Group
- Mack Trucks
- Scania
- Sinotruk Hong Kong Limited
- Shaanxi Fast Auto Drive Co Ltd
- Volvo AG
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Transmission Oil Pump and Transmission System
- Fixed Displacement Pump and Variable Displacement Pump
- Vane Type
- Gear Type
- Rotor Type
- Manual Transmission
- Automatic Transmission
- Automated Manual Transmission
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Commercial Vehicle Transmission Oil Pump and Transmission System Market Drivers and Opportunities
Increasing Demand for Automatic and Semi-Automatic Transmission System
Transmission system ensures a smooth and comfortable drive by transferring the maximum amount of power from an engine to the wheels via gearbox. The majority of low- and mid-range vehicles now use semi-automatic and automatic transmission systems. The mobility and fuel efficiency of a car can be considerably influenced by an automated transmission system, depending on the electrical technology utilized in the transmission and the design of the transmission system. Automatic gearboxes or dual pedal technology is available in various configurations, such as Automatic Transmission (AT), Automated-Manual Transmission (AMT), Continuously Variable Transmission (CVT), Dual-Clutch Transmission (DCT), Direct Shift Gearbox (DSG), and Tiptronic Transmission. The shift from manual to automatic transmissions is driven by an increased desire for comfort and safety. Automatic gearboxes are comfortable, safe, environment friendly, and cost effective. They also provide a superior driving experience. A driver does not need to handle the clutch with an automatic transmission, which is quite convenient, especially in urban stop-and-go traffic. Autonomous parking assistants, for example, make daily living accessible and are a precursor to utterly automated driving.
Transmission System for Electric Commercial Vehicle
Transmission for electric vehicles is utilized to transfer mechanical power from an electric traction motor to the wheels. Most of the electric cars are equipped with single-speed transmissions, which are sufficient for efficient operation in today's world. However, several vehicle types benefit from the usage of a multi-speed transmission. Furthermore, many of the major manufacturers in the EV transmission market are developing multi-speed transmission sailing operations and load shifting capabilities for electric vehicles to launch them shortly. To follow government rules regarding emission limits and future fuel usage, the development of electric vehicles is gaining traction at a rapid pace. Apart from the traction motor, the transmission or gearbox in the drive system is another critical component in an electric vehicle's power performance. Electric vehicles require enough power to overcome road load when driving.
Commercial Vehicle Transmission Oil Pump and Transmission System Market Report Segmentation Analysis
Key segments that contributed to the derivation of the commercial vehicle transmission oil pump and transmission system market analysis are offering, oil pump product type, transmission system type, vehicle type, powertrain type and geography.
- Based on offering, the market is divided into transmission oil pump and transmission system. Among this transmission system has a larger share in 2023, owing to increasing advancement of the transmission systems.
- Depending upon the oil pump product type, the market is divided into fixed displacement pump and variable displacement pump. Among these, fixed displacement pump has a larger share in 2023.
- Based on oil pump type, the market is divided into vane type, gear type, and rotor type.
- Depending upon the transmission system type, the market is divided into manual transmission, automatic transmission, and automated manual transmission. Among these, automatic transmission has a largest share in 2023.
- Based on vehicle type, the market is divided into MCV and HCV. Based on MCV, the market is divided into class III and class VI. Depending upon the HCV, the market is divided into Class VII to Class VIII. Among these, HCV has largest share in 2023.
- Depending upon the powertrain type, the global market is divided into internal combustion engine, electric, and hybrid. Among these, internal combustion engine has a largest share in 2023. This is owing to increasing commercial vehicles sale across the globe.
Commercial Vehicle Transmission Oil Pump and Transmission System Market Share Analysis by Geography
The geographic scope of the commercial vehicle transmission oil pump and transmission system market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The governments of various countries in Asia Pacific are focusing on the manufacturing of automobiles in their respective countries. For instance, through Made in China 2025, the government of China is supporting local companies to compete with foreign automakers. Furthermore, initiatives by the government of India, such as Automotive Mission Plan 2016-26, are supporting the country’s growing automotive manufacturing industry. Therefore, theses government initiatives would boost the growth of the automotive sector in the region, which would subsequently drive the commercial vehicle transmission oil pump and transmission system market during the forecast period.
Commercial Vehicle Transmission Oil Pump and Transmission System Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 32,793.17 million |
Market Size by 2031 | US$ 51,443.23 million |
Global CAGR (2023 - 2031) | 5.8% |
Historical Data | 2021-2022 |
Forecast period | 2023-2031 |
Segments Covered |
By Offering
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Commercial Vehicle Transmission Oil Pump and Transmission System Market News and Recent Developments
The commercial vehicle transmission oil pump and transmission system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Commercial Vehicle Transmission Oil Pump and Transmission System Market are listed below:
- Nidec Power Train Systems Corporation (the “Company”) announced today that it has successfully developed a new electric oil pump for automotive CVT (continuously variable transmission) systems. This latest product is used to supply oil pressure to the CVT system of a vehicle in the idling-stop mode, and support a car’s engine-driven mechanical oil pump. In an active attempt to reduce their vehicles’ CO2 emissions, individual car manufacturers are shifting toward producing electric and hybrid vehicles and other eco-friendly cars installed with an idling-stop function (Source: Company Website, August 2023)
Commercial Vehicle Transmission Oil Pump and Transmission System Market Report Coverage and Deliverables
The “Commercial Vehicle Transmission Oil Pump and Transmission System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Commercial vehicle transmission oil pump and transmission system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Commercial vehicle transmission oil pump and transmission system market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Commercial vehicle transmission oil pump and transmission system market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Commercial Vehicle Transmission Oil Pump and Transmission System market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Offering , Oil Pump Product Type , Oil Pump Type , Transmission System Type , Vehicle Type , and Powertrain Type and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Asia Pacific is expected to dominate the commercial vehicle transmission oil pump and transmission system market in 2023.
The increasing demand for automatic and semi-automatic transmission system drives the market growth.
The increasing demand for the electric transmission oil pumps with increased sale of the commercial vehicles across the globe drives the market growth
Allison Transmission Holding INC, BorgWarner Inc., Qijiang Gear Transmission Co., Ltd., Daimler AG, Eaton Group, Mack Trucks, ScaniaSinotruk (Hong Kong) Limited, Shaanxi Fast Auto Drive Co. Ltd., Volvo AG are among the major companies operating in the commercial vehicle transmission oil pump and transmission system market.
The commercial vehicle transmission oil pump and transmission system market size is projected to reach US$ 51,443.23 million by 2031 from US$ 32,793.17 million in 2023.
The market is expected to register a CAGR of 5.8% during 2023–2031.