Global Truck Clutch Market Will Grow at a CAGR of 6% During 2019-2023 | Technavio
LONDON--(BUSINESS WIRE)--Apr 15, 2019--Technavio has announced the release of their research report on the global truck clutch market for the forecast period 2019-2023. This global truck clutch market analysis report segments the market by application (light-duty trucks and medium and heavy-duty trucks) and geography (APAC, Europe, MEA, North America, and South America).
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The global truck clutch market will post a CAGR of more than 6% during the period 2019-2023. (Graphic: Business Wire)
Global truck clutch market size will grow by almost USD 4.17 billion during 2019-2022, at a CAGR of more than 6%. The continuous R&D efforts on automatic transmission have led to the emergence of triple-clutch transmission (TCT) system. The triple-clutch transmission system backed with advanced software, machinery and designing algorithm can improve the engine’s efficiency and reduce wastage. TCTs can be deployed in mass segment vehicles and newer commercial vehicles are expected to come equipped with such advanced transmission systems. The adoption of TCTs in mass commercial vehicle segment will positively impact the growth of the global truck clutch market during the forecast period.
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Increased penetration of high-speed transmission in trucks
Many leading OEMs are incorporating advanced materials, designs and more gears for developing transmission systems. Several trucks come equipped with such advanced high-speed transmission systems. Recently, Ford showcased a completely redesigned Explorer model at the North American International Auto Show in Detroit. The vehicle boasts a 10-speed transmission system and 318 horsepower.
Similarly, Volvo increased the penetration of its ‘I-Shift’ in trucks and buses offered in APAC. The I-Shift is backed with advanced electronics to monitor various parameters to provide smoother shifts and to improve fuel efficiency. Such developments among OEMs will increase the sales of clutches and will drive the market’s growth.
“The APAC will witness a faster growth during the forecast period. E-commerce logistics, construction, and mining are some of the prime industries driving the growth of commercial vehicles in the region. High population and increasing sales of commercial sales in Western Europe will increase the demand for truck clutches. The growing demand for trucks has encouraged many OEMs to set up new manufacturing units in the region. Many such factors are expected to boost the global truck clutch market during the forecast period,” says an analyst at Technavio.
Eicher Pro 3016 was recently launched in India. It is incorporated with an Intelligent Shift Control Actuator that automatically performs clutch operations. This system requires less maintenance and ensures maximum uptime. Several manufacturers are releasing hybrid trucks with increased fuel-efficiency and advanced drivetrains. For instance, Finnish truck maker Sisu recently launched the first hybrid truck in Europe. The company has aimed to increase the production of such hybrid trucks. Such developments among truck makers will enhance the market’s growth globally.
View snapshot of the report for a more detailed overview of the market and the segmentation covered in this report
This global truck clutch market industry research report provides an in-depth analysis of the primary drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several truck clutch manufacturers including -
- AISIN SEIKI Co., Ltd
- BorgWarner Inc.
- EXEDY Corporation
- Schaeffler AG
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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. Technavio’s report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.
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INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 04/15/2019 11:18 AM/DISC: 04/15/2019 11:18 AM