Report : Asia Pacific Commercial Vehicle Transmission Oil Pump and Transmission System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offering (Transmission Oil Pump and Transmission System), Oil Pump Product Type (Fixed Displacement Pump and Variable Displacement Pump), Oil Pump Type (Vane Type, Gear Type, and Rotor Type), Transmission System Type (Manual Transmission, Automatic Transmission, and Automated Manual Transmission), Vehicle Type [MCV (Class III and Class VI) and HCV (Class VII to Class VIII)], and Powertrain Type (Internal Combustion Engine, Electric, and Hybrid)

Gear Type Segment to dominate Asia Pacific Commercial Vehicle Transmission Oil Pump and Transmission System Market during 2020–2028

 According to a new market research study on “Asia Pacific Commercial Vehicle Transmission Oil Pump and Transmission System Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Offering, Oil Pump Product Type, Oil Pump Type, Transmission System Type, Vehicle Type, and Powertrain Type,” is expected to reach US$ 22,529.99 million by 2028 from US$ 13,918.39 million in 2021. The market is estimated to grow at a CAGR of 7.1% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific commercial vehicle transmission oil pump and system market along with the drivers and restraints pertaining to the market growth. Heighten use of transmission system for electric commercial vehicle, stretching demand for electric transmission oil pump, and boosting demand for automatic and semi-automatic transmission system are the major factor driving the growth of the Asia Pacific commercial vehicle transmission oil pump and system market. However, slow penetration for fuel cell electric commercial vehicle hinder the growth of Asia Pacific commercial vehicle transmission oil pump and system market.

Due to the increasing number of COVID-19 confirmed cases in India and other countries across Asia Pacific, the region is greatly affected by the COVID-19 pandemic. The region homes the largest population across the world, which is imposing greater risk to a large number of individuals. Further, China is a world leader in many global brands. According to the Organization for Economic Co-operation and Development (OECD), the pandemic affected major economies of the region, such as China, India, South Korea, and Vietnam, and these countries experienced a decline in industrial growth during the first two quarters of 2020. In 2020, the COVID-19 outbreak functioned as a major drag on the automotive parts and components business, as supply chains were disrupted by trade restrictions and consumption fell because of government-imposed lockdowns across the world. India witnessed a decline in the automobile sector in terms of demand due to subsequent lockdowns to control the spread of the novel coronavirus virus. The disruption in the supply chain and the closing of manufacturing industries hampered the sales of automobiles and their components. However, with the introduction of the COVID-19 vaccine in the region, the impact on the supply chain side of the market is currently minimal due to the resumption of automobile companies’ operations in various countries of Asia Pacific. The region is set to lead the post-pandemic growth in the commercial vehicle transmission oil pump and transmission system market.

The Asia Pacific commercial vehicle transmission oil pump and transmission system market is segmented on the bases of offering, oil pump product type, oil pump type, transmission system type, vehicle type, powertrain type, and country. Based on offering, the market is bifurcated into transmission oil pump and transmission system. In 2020, transmission system segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Based on oil pump product type, the market is bifurcated into fixed displacement pump and variable displacement pump. In 2020, fixed displacement pump segment held the largest share in the market and variable displacement pump is expected to be the fastest growing segment during the forecast period. Based on oil pump type, the market is segmented into vane type, gear type, and rotor type. In 2020, gear type segment held the largest share in the market and vane type is expected to be the fastest growing segment during the forecast period. Based on transmission system type, the market is segmented into manual transmission, automatic transmission, and automated manual transmission. In 2020, manual transmission segment held the largest share in the market and automated manual transmission is expected to be the fastest growing segment during the forecast period. Based on vehicle type, the market is segmented into MCV (Class III and Class VI) and HCV (Class VII to Class VIII). In 2020, HCV (Class VII to Class VIII) segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Based on powertrain type, the commercial vehicle transmission oil pump and system market is segmented into internal combustion engine, electric, and hybrid. In 2020, internal combustion engine segment held the largest share in the market and electric is expected to be the fastest growing segment during the forecast period. Similarly, based on country, the market is segmented into the China, Japan, India, South Korea, Australia, and Rest of APAC. In 2020, the China held the largest share in the market and it is also expected to be the fastest growing country during the forecast period.

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.; SLPT; Vitesco Technologies; Qijiang Gear Transmission Co., Ltd; Fuxin Del Auto Parts Co., Ltd.; and Zhejiang Wanliyang Co., Ltd. are among the leading companies in the Asia Pacific commercial vehicle transmission oil pump and transmission system market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

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