Europe Commercial Vehicle Transmission Oil Pump and Transmission System Market
No. of Pages: 207 | Report Code: TIPRE00025228 | Category: Automotive and Transportation
No. of Pages: 207 | Report Code: TIPRE00025228 | Category: Automotive and Transportation
Europe comprises economies such as Germany, France, the UK, and Italy. The western part of Europe is characterized for its high standards of living, with high GDP. The automotive industry, directly and indirectly, contributed ~7% to the GDP of the region. The automotive sector supports the growth of the economy by assisting the supply chain that results in the creation of a diversified array of business opportunities and services. Europe comprises several major automotive manufacturing assembly and production plants. There are ~298 vehicle assembly plants across the region. In 2020, as per the OICA data, the production of commercial vehicles was 14.6 million units in Europe. In recent years, the automotive industry has been flourishing in Central and Eastern Europe (CEE). The rising numbers of truck and bus manufacturers are establishing their state-of-the-art and modern production sites in CEE countries owing to the competitive advantage of the CEE region over the Western European countries. Owing to increased economic development and political consolidation, the region is gaining high attention from investors, as they consider the region as one joined-up sourcing, manufacturing, and logistics hub. OEMs and the major automotive suppliers such as Daimler, Volkswagen AG, TRATON Group, Volvo, and Iveco have established their presence in the region. This is pertaining to the presence of an innovative and developed supply chain environment, while CEE provides some of the best environments for the automotive industry in the world. Thus, the growing automotive sector in CEE supports the growth of the commercial vehicle transmission oil pump and transmission system market, as the requirement of the transmission systems and transmission oil pumps are directly associated with commercial vehicle production.
The impact of the COVID-19 outbreak pandemic differs from country to country across Europe as selected countries such as Italy, France, Germany, and the UK had recorded an increase in the number of COVID-19 confirmed cases and subsequently imposed strict and long lockdown periods or social isolation. However, Western European countries such as Germany, France, and the UK have seen comparatively modest growth in industrial activities due to the strong healthcare system. To protect citizens from the infection of novel coronavirus that causes COVID-19, the European government has made tremendous investments in incorporating technologies in its healthcare systems to help identify the signs of COVID-19 and diagnose the same.
Strategic insights for the Europe Commercial Vehicle Transmission Oil Pump and Transmission System provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 5709.32 Million |
| Market Size by 2028 | US$ 8205.89 Million |
| Global CAGR (2021 - 2028) | 5.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Offering
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Commercial Vehicle Transmission Oil Pump and Transmission System refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The commercial vehicle transmission oil pump and transmission system market in Europe is expected to grow from US$ 5709.32 million in 2021 to US$ 8205.89 million by 2028; it is estimated to grow at a CAGR of 5.3% from 2021 to 2028. Hybrid vehicles, electric vehicles, and idling stop systems as well as other recent advancements in fuel economy can experience incompatibility with traditional mechanical oil pumps. Therefore, the advancements demand electric oil pumps. The automobile industry is striving toward lowering fuel usage by reducing the amount of time an engine is running: idling stop systems evolve into coasting stop systems (engine shutting down during deceleration), and subsequently sailing stop systems (turning off the engine when the car is benefitting from inertia after acceleration). Another rising trend is the extension of electric oil pump applications to include clutch disengagement, cooling, and lubrication. These pumps are also being used frequently in large hybrid vehicles, which is propelling the demand for larger pump models. In addition, higher fuel economy rules are driving the growth of the commercial vehicle transmission oil pump and transmission system market. Market players are expecting to expand their electric oil pump lineup in the future to include compact and large models for continuously variable transmissions, dual-clutch gearboxes, EV traction motor cooling, and a variety of other applications. For instance, Bosch developed electric oil pumps to address essential market demands in the electric vehicles market. In eAxle and automated transmissions, Bosch pumps optimize lubrication, cooling, and actuation functions. Three modular power classes and an application-specific hydraulic part meet market expectations. The design approach ensures that hydraulic elements, motors, and control electronics are all integrated. Smart functions can be combined based on the needs of the customer. Therefore, Surge in demand for electric transmission oil pump will drive the market growth.
In terms of offering, transmission system segment held a larger market share of the commercial vehicle transmission oil pump and transmission system market in 2020. Based on oil pump product type, fixed displacement pump segment held a larger market share in 2020. Based on oil pump type, gear type segment held a larger market share in 2020. Based on transmission system type, manual transmission segment held a larger market share in 2020. Based on vehicle type, HCV (Class VII to Class VIII) segment held a larger market share in 2020. Similarly Based on powertrain type, internal combustion engine segment held the largest share in the market.
A few major primary and secondary sources referred to for preparing this report on the commercial vehicle transmission oil pump and transmission system market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Allison Transmission Holding INC; Daimler AG; Eaton Group; Mack Trucks; Scania; Sinotruk (Hong Kong) Limited; Shaanxi Fast Auto Drive Co. Ltd.; Volvo AG; Voith GmbH & Co. KGaA; ZF Friedrichshafen AG; Hyundai Transys; Mahle GmbH; Concentric AB; Scherzinger Pumpen GmbH & Co. KG; SHW AG; BorgWarner Inc.; Vitesco Technologies; and SLPT among others.
The Europe Commercial Vehicle Transmission Oil Pump and Transmission System Market is valued at US$ 5709.32 Million in 2021, it is projected to reach US$ 8205.89 Million by 2028.
As per our report Europe Commercial Vehicle Transmission Oil Pump and Transmission System Market, the market size is valued at US$ 5709.32 Million in 2021, projecting it to reach US$ 8205.89 Million by 2028. This translates to a CAGR of approximately 5.3% during the forecast period.
The Europe Commercial Vehicle Transmission Oil Pump and Transmission System Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Commercial Vehicle Transmission Oil Pump and Transmission System Market report:
The Europe Commercial Vehicle Transmission Oil Pump and Transmission System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Commercial Vehicle Transmission Oil Pump and Transmission System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Commercial Vehicle Transmission Oil Pump and Transmission System Market value chain can benefit from the information contained in a comprehensive market report.
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