DUBLIN, September 28, 2021--(BUSINESS WIRE)--The "Global Commercial Vehicle Transmission Oil Pump and Transmission System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering, Oil Pump Product Type, Oil Pump Type, Transmission System Type, Vehicle Type, and Powertrain Type" report has been added to ResearchAndMarkets.com's offering.
The global commercial vehicle transmission oil pump and transmission system market is expected to grow from US$ 29,302.0 million in 2021 to US$ 44,394.08 million by 2028; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028.
Rapid technological advancements in automotive transmission systems by manufacturers are anticipated to boost the growth of the market. Furthermore, the market is expected to be driven by the increasing usage of continuously variable transmission (CVT) and dual-clutch transmission (DCT) technologies in manual and automatic systems due to the shift in demand for fuel-efficient products with higher performance. Many automakers are now offering intelligent manual transmission (IMT), which allows drivers to shift ratios without depressing the clutch. Owing to the rapid increase in demand for automatic cars, particularly in emerging nations such as China, India, Brazil, and Russia, the global electrical commercial transmission oil pumps and transmission system market is predicted to grow significantly. The surge in per capita disposable income and consumer spending is responsible for this massive demand. Furthermore, the market expansion is accelerated by technical developments and increased R&D activity. However, the presence of competitors providing less expensive products is a key stumbling block to the market expansion.
Various associations governing commercial vehicle transmission oil pump and transmission system market include the Society of Indian Automobile Manufacturers (SIAM), China Association of Automobile Manufacturers (CAAM), Environmental Protection Agency (EPA), International Council on Clean Transportation (ICCT), and European Automobile Manufacturers Association (EAMA)
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Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Increasing Demand for Automatic and Semi-Automatic Transmission System
Stringent Government Standards Associated with Carbon Emission
Penetration for Fuel Cell Electric Commercial Vehicle
Transmission System for Electric Commercial Vehicle
Surge in Demand for Electric Transmission Oil Pump
Allison Transmission Holding INC
Qijiang Gear Transmission Co., Ltd.
Sinotruk (Hong Kong) Limited
Shaanxi Fast Auto Drive Co. Ltd.
Voith GmbH & Co. KGaA
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