Medium & Heavy Commercial Vehicles Transmission Market to Grow with a CAGR of 5.96% Globally through to 2028
Increasing Global Demand for Commercial
Vehicles, Technological Advancements in Transmission Systems and Growth in
Electric and Hybrid Commercial Vehicles are factors driving the Global Medium
& Heavy Commercial Vehicles Transmission market in the forecast period
2024-2028.
According to TechSci Research report, “Global Medium
& Heavy Commercial Vehicles Transmission Market - Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Medium
& Heavy Commercial Vehicles Transmission Market stood at USD 11 billion in
2022 and is anticipated to grow with a CAGR of 5.96% in the forecast period,
2024-2028. The
Global Medium & Heavy Commercial Vehicles (MHCV) Transmission Market is a
dynamic and rapidly evolving sector within the automotive industry. It plays a
pivotal role in ensuring the efficient and reliable operation of medium and
heavy-duty commercial vehicles, such as trucks, buses, and specialized vehicles
used in logistics and construction. This market is influenced by a multitude of
factors, including regulatory requirements, technological advancements,
shifting consumer preferences, and global economic dynamics. One of the central
trends shaping the MHCV Transmission Market is the ongoing transition towards
cleaner and more sustainable transportation solutions. With a growing emphasis
on reducing carbon emissions and improving fuel efficiency, there is a notable
shift towards electrification, with electric and hybrid commercial vehicles
becoming increasingly prevalent. This trend has led to the development of
specialized transmission systems tailored to the unique needs of electric
powertrains, as well as the integration of advanced electronic controls and
connectivity solutions. Moreover, automatic transmissions have gained
prominence, offering convenience and fuel efficiency advantages in both urban
and long-haul applications. The market is also witnessing the rise of automated
manual transmissions (AMTs), which strike a balance between the simplicity of
manual transmissions and the ease of operation of fully automatic ones.
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The Global Medium & Heavy Commercial Vehicles
(MHCV) Transmission Market is a vital and dynamic sector within the broader
automotive industry. It serves as the critical link between engines and wheels
in medium and heavy-duty commercial vehicles, playing a fundamental role in
ensuring the efficient and reliable operation of trucks, buses, and specialized
vehicles used in diverse applications, including logistics, construction, and
public transportation. This market is shaped by a multitude of factors, ranging
from stringent regulatory requirements and technological advancements to evolving
consumer preferences and global economic dynamics. One of the overarching
trends that has been reshaping the MHCV Transmission Market in recent years is
the relentless drive towards cleaner and more sustainable transportation
solutions. As concerns over environmental sustainability and air quality continue
to mount, governments and industries worldwide are increasingly prioritizing
measures to reduce carbon emissions and improve fuel efficiency in commercial
vehicle fleets. This has led to a notable shift towards the electrification of
commercial vehicles, with electric and hybrid options gaining significant
traction.
In response to this trend, transmission manufacturers
have been developing specialized transmission systems tailored to the unique
needs of electric and hybrid powertrains. Unlike traditional internal
combustion engines (ICE), electric vehicles (EVs) often use single-speed
transmissions due to the wide torque range of electric motors. These
transmissions are simpler in design but require precise engineering to optimize
efficiency and performance. Hybrid commercial vehicles, which combine internal
combustion engines with electric propulsion, necessitate sophisticated
transmission systems capable of seamlessly managing power from both sources.
The integration of electronic controls, sensors, and advanced software has
become increasingly crucial in achieving the seamless transition between
electric and combustion power, maximizing energy efficiency and reducing
emissions.
Furthermore, this trend towards electrification goes
hand-in-hand with a broader movement towards sustainability and corporate
social responsibility. Commercial vehicle operators are not only looking to
reduce their environmental footprint but also to gain a competitive edge by
aligning their operations with green initiatives. As a result, the MHCV
Transmission Market is witnessing a surge in demand for electric and hybrid
transmission solutions that offer not only environmental benefits but also cost
savings over the long term through reduced fuel consumption and maintenance
requirements.
Automatic transmissions offer several advantages,
particularly in urban and congested driving conditions. They are easier for
drivers to operate, reducing fatigue and attracting a broader pool of drivers
with varying skill levels. Automatic transmissions also tend to deliver better
fuel efficiency, especially when paired with advanced electronic control units
(ECUs) that optimize gear shifting for maximum efficiency. Additionally, they
offer a smoother and more comfortable driving experience, which is particularly
valued in passenger transport applications.
Moreover, the advancement of automatic transmission
technology has made these systems more cost-competitive with manual
counterparts. Economies of scale, improved manufacturing processes, and
increased consumer demand have contributed to narrowing the price gap. As a
result, the MHCV Transmission Market is experiencing a notable shift towards
automatic transmissions, even in traditionally manual-dominated segments.
Manufacturers are responding to this trend by investing in the development of
advanced automatic transmission systems that can meet the market's growing
demand for convenience and fuel efficiency.
AMTs are known for their ability to improve fuel
efficiency compared to traditional manual transmissions, particularly in
applications where precise gear changes are critical, such as urban driving and
stop-and-go traffic. They also reduce driver fatigue and simplify the driving
experience by automating gear shifts, making them attractive to a wide range of
drivers, including those with limited manual transmission experience.
Manufacturers are continually refining AMT technology,
incorporating features like predictive shifting, which uses data from sensors
and GPS to anticipate the optimal time for gear changes. This predictive
capability not only enhances fuel economy but also contributes to a smoother
and more efficient driving experience, further solidifying the position of AMTs
as a prominent trend in the MHCV Transmission Market.
Connected MHCVs gather real-time data on various
aspects of vehicle operation, including engine and transmission performance,
fuel efficiency, and driver behavior. This data is then transmitted to
centralized systems for analysis and decision-making. The integration of
connectivity and telematics enables predictive maintenance, allowing fleet
operators to schedule maintenance tasks proactively to minimize downtime. It
also enables remote diagnostics and over-the-air updates to improve
transmission performance and efficiency.
Major companies operating in Global Medium &
Heavy Commercial Vehicles Transmission Market are:
- Allison Transmission, Inc.
- ZF Friedrichshafen AG
- Aisin Corporation
- Continental AG
- Magna International Inc
- BorgWarner Inc.
- Jatco Ltd.
- Schaeffler Group
- Eaton Corporation plc
- Vitesco Technologies Group AG
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“The Global
Medium & Heavy Commercial Vehicles Transmission Market is undergoing a
profound transformation. Key trends include a shift toward electrification,
with electric and hybrid commercial vehicles on the rise, driving the
development of specialized transmission systems. Automatic transmissions are
gaining dominance, enhancing driver comfort and fuel efficiency, even in
traditionally manual-dominated segments. Automated manual transmissions (AMTs)
are also emerging as a notable trend, offering a middle-ground solution. Additionally,
the integration of connectivity and telematics is optimizing vehicle
performance and enabling predictive maintenance. These trends reflect the
industry's response to stricter emissions regulations, sustainability goals,
and the demand for cleaner and more efficient transportation solutions.
Manufacturers are investing in innovative transmission technologies to meet
evolving market demands, ushering in a new era in the MHCV Transmission Market.”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Medium
& Heavy Commercial Vehicles Transmission Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast, Segmented By Type (Automatic, Manual,
Dual Clutch), By Fuel Type (Petrol, Diesel, CNG), By Gear Type (5-6, 7-8,
9-10), By Region, By Competition, 2018-2028”, has evaluated the
future growth potential of Global Medium & Heavy Commercial Vehicles Transmission
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Medium & Heavy Commercial
Vehicles Transmission Market.
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