Middle East and Africa Commercial Vehicle Transmission Oil Pump and Transmission System Market
No. of Pages: 180 | Report Code: TIPRE00025230 | Category: Automotive and Transportation
No. of Pages: 180 | Report Code: TIPRE00025230 | Category: Automotive and Transportation
The commercial vehicle transmission oil pump and transmission system market in MEA comprises Saudi Arabia, the UAE, South Africa, and the Rest of MEA. The automotive sector in these countries is growing at a steady pace. The governments of several countries in the region have realized the importance of the automotive industry and are taking initiatives to support the growth of the automotive manufacturing industry in the region. For instance, the Government of South Africa launched South African Automotive Master plan (SAAM) that aims to broaden and deepen the local value chains. Additionally, the automotive manufacturers in South Africa are focusing on strengthening their position in the country. For instance, in 2018, Mahindra SA opened its vehicle assembly facility in Durban, South Africa. In January 2020, Toyota announced that it would invest ~US$ 266.21 million in its parts distribution and manufacturing projects in South Africa. Similarly, in 2021, Saudi Arabia Government planned to set the infrastructure for automotive manufacturing in Jubail Industrial City and Ras Al-Khair Industrial City providing over 90% of the raw materials used in direct automobile manufacturing. Therefore, the government initiatives for the development of the automotive sector and the increasing focus of the companies toward strengthening their presence in the region are expected to support the growth of the commercial vehicle transmission oil pump and transmission system market in MEA during the forecast period.
Major countries in the MEA facing the economic impact of the COVID-19 pandemic are Turkey, South Africa, Morocco, the UAE, Saudi Arabia, Kuwait, and Egypt. The region is registering a swift decline in manufacturing activities due to the shutdown of industries and a halt in technological innovations across the MEA. Irrespective of the previous projections regarding the steady growth of the commercial vehicle transmission oil pump and transmission system market in the MEA due to escalating demand for automobiles, the growth of the market seems in negative due to the pandemic. In Saudi Arabia and the UAE, the imposition of travel restrictions and disruption in supply chains are limiting the growth of the commercial vehicle transmission oil pump and transmission system market to a certain extent. The impact of the COVID-19 pandemic on this market has been huge demerit. However, the market in MEA is expected to see heavy growth after the introduction of the COVID-19 vaccine.
Strategic insights for the Middle East and Africa 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$ 1212.52 Million |
| Market Size by 2028 | US$ 1686.97 Million |
| Global CAGR (2021 - 2028) | 4.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Offering
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East and Africa 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 Middle East & Africa is expected to grow from US$ 1212.52 million in 2021 to US$ 1686.97 million by 2028; it is estimated to grow at a CAGR of 4.8% from 2021 to 2028. Transmission system ensures a smooth and comfortable drive by transferring the maximum amount of power from an engine to the wheels via gearbox. The majority of low- and mid-range vehicles now use semi-automatic and automatic transmission systems. The mobility and fuel efficiency of a car can be considerably influenced by an automated transmission system, depending on the electrical technology utilized in the transmission and the design of the transmission system. Automatic gearboxes or dual pedal technology is available in various configurations, such as Automatic Transmission (AT), Automated-Manual Transmission (AMT), Continuously Variable Transmission (CVT), Dual-Clutch Transmission (DCT), Direct Shift Gearbox (DSG), and Tiptronic Transmission. The shift from manual to automatic transmissions is driven by an increased desire for comfort and safety. Automatic gearboxes are comfortable, safe, environment friendly, and cost effective. They also provide a superior driving experience. A driver does not need to handle the clutch with an automatic transmission, which is quite convenient, especially in urban stop-and-go traffic. Autonomous parking assistants, for example, make daily living accessible and are a precursor to utterly automated driving. Furthermore, automotive component makers are working hard to deliver cost-effective alternatives without sacrificing vehicle performance. To address the rising demand for transmission systems across the automotive sector, they adopt various business expansion methods. For instance, Aisin Seiki Co., Ltd. is concentrating its development and manufacturing skills on Toyota Motor Corp.'s manual transmission products under the Aisin AI brand. Thus, the high adoption rate of semi-automatic and automatic transmission systems in commercial vehicles is a significant factor driving the growth of the commercial vehicle transmission oil pump and transmission systems market.
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 Middle East & Africa 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; and Scherzinger Pumpen GmbH & Co. KG among others.
The Middle East and Africa Commercial Vehicle Transmission Oil Pump and Transmission System Market is valued at US$ 1212.52 Million in 2021, it is projected to reach US$ 1686.97 Million by 2028.
As per our report Middle East and Africa Commercial Vehicle Transmission Oil Pump and Transmission System Market, the market size is valued at US$ 1212.52 Million in 2021, projecting it to reach US$ 1686.97 Million by 2028. This translates to a CAGR of approximately 4.8% during the forecast period.
The Middle East and Africa 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 Middle East and Africa Commercial Vehicle Transmission Oil Pump and Transmission System Market report:
The Middle East and Africa 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 Middle East and Africa 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 Middle East and Africa 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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