The demand for light-duty pickup trucks in both developed and developing automotive markets is increasing, which, in turn, will result in the increasing sales year-over-year. Pickup trucks are equipped with manual and automated manual transmission systems, thereby driving the market in terms of units and revenue. The demand and sales of pickup trucks are increasing in countries in APAC such as China and Southeast Asian countries. China is expected to be a major contributor to the global pickup trucks market by 2023. Therefore, the growing sales of pickup trucks will drive the global truck transmission system market. Our analysts have predicted that the truck transmission system market will register a CAGR of close to 6% by 2023.
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Growing penetration rate of automatic transmission system
Automatic transmission and automated manual transmission are not limited to passenger vehicles. They are finding rapid penetration in commercial vehicles as well, which include buses, coaches, and heavy-duty trucks. With the growing focus on the comfort and convenience of drivers by fleet operators and logistics service providers, the demand for automated manual transmission is increasing, especially in medium-duty trucks.
Advanced transmission system design leading to vehicle malfunction and recalls
Automatic transmission systems used in trucks are complex in design and involve advanced algorithm for the design and development. The use of multiple clutches, synchromesh gear sets, and lightweight, rigid materials increases the cost and complexity of the transmission system being used for truck applications. This acts as a challenge for vendors, as it raises concerns related to costs and reliability through liability sharing.
For the detailed list of factors that will drive and challenge the growth of the truck transmission system market during the 2019-2023, view our report.
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the markets competitive landscape and offering information on the products offered by companies.
Table of Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
– 2.1 Preface
– 2.2 Preface
– 2.3 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
– Market ecosystem
– Market characteristics
– Market segmentation analysis
PART 04: MARKET SIZING
– Market definition
– Market sizing 2018
– Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
– Bargaining power of buyers
– Bargaining power of suppliers
– Threat of new entrants
– Threat of substitutes
– Threat of rivalry
– Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
– Market segmentation by application
– Comparison by application
– Light-duty trucks – Market size and forecast 2018-2023
– Medium and heavy-duty trucks – Market size and forecast 2018-2023
– Market opportunity by application
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