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Global Truck Transmission System Market 2019-2023 | 6% CAGR Projection Over the Next Five Years | Technavio

December 3, 2019 GMT
Global Truck Transmission System Market 2019-2023 | 6% CAGR Projection Over the Next Five Years | Technavio
Global Truck Transmission System Market 2019-2023 | 6% CAGR Projection Over the Next Five Years | Technavio

LONDON--(BUSINESS WIRE)--Dec 3, 2019--

The truck transmission system market size is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global truck transmission system market 2019-2023. (Graphic: Business Wire)

The increased use of aluminum in truck transmission systems will be one of the major factors behind the truck transmission system market growth. Commercial vehicles are increasingly deploying energy-efficient materials such as aluminum in the manufacture of automotive components. The deployment of such materials helps improve vehicle dynamics and contributes to environmental sustainability by minimizing carbon emissions. Aluminum is increasingly being used in light truck transmission systems and driveline housing. Aluminum-made transmission systems and driveline housing exhibit superior heat dissipation effects along with good machinability. Moreover, the use of aluminum helps to make the system lightweight and increases its durability and performance.

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As per Technavio, the increased use of high-speed transmission in 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 important trends and market drivers that will affect market growth over 2019-2023.

Truck Transmission System Market: Increased Use of High-Speed Transmission in Trucks

The global truck industry is witnessing developments in the field of powertrain, which in turn enhances the overall performance and efficiency of trucks. Vendors are using innovative materials, advanced designs and an increased number of gears for the design and development of the transmission system. As a result, upcoming trucks are equipped with high-speed transmission. For instance, ZF Friedrichshafen AG has announced plans to introduce an 8-speed automatic transmission for use in commercial vehicles by 2020. This advanced automatic transmission system is lighter, quieter, and offers superior performance compared to conventional 6-speed transmissions. Thus, the increased use of high-speed transmission in trucks will drive market growth during the forecast period.

“Other factors such as the rapid adoption of all-electric powertrains, and the emergence of triple-clutch transmission system will have a significant impact on the growth of the truck transmission system market value during the forecast period,” says a senior analyst at Technavio.

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Truck Transmission System Market: Segmentation Analysis

This market research report segments the truck transmission system market by application (light-duty trucks, and medium and heavy-duty trucks) and geography (North America, APAC, Europe, South America, and MEA).

The North American region led the truck transmission system market in 2018, followed by APAC, Europe, South America, and MEA respectively. The growth of the truck transmission system market share in North America can be attributed to several factors such as the increase in consumer preference for large utility vehicles, and the continuous focus on international trade and regional trade activities in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

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Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

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.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191203005804/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

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UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: AFTERMARKET AUTOMOTIVE

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 12/03/2019 01:00 PM/DISC: 12/03/2019 01:00 PM

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