Report : South America 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)
HCV (Class VII to Class VIII) Segment to dominate South America Commercial Vehicle Transmission Oil Pump and Transmission System Market during 2020–2028
According to a new market research study on “South America 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$ 1195.19 million by 2028 from US$ 882.54 million in 2021. The market is estimated to grow at a CAGR of 4.4% from 2021 to 2028. The report provides trends prevailing in the South America commercial vehicle transmission oil pump and system market along with the drivers and restraints pertaining to the market growth. Strong government standards associated with carbon emission, elevating demand for automatic and semi-automatic transmission system, and burgeoning demand for electric transmission oil pump are the major factor driving the growth of the South America commercial vehicle transmission oil pump and system market. However, weaker penetration for fuel cell electric commercial vehicle hinder the growth of South America commercial vehicle transmission oil pump and system market.
In SAM, Brazil witnessed the highest number of COVID-19 confirmed cases, followed by Ecuador, Peru, Chile, and Argentina. Governments have been imposing travel restrictions, lockdowns, and trade bans to contain the spread of novel coronavirus that causes COVID-19. Thus, the COVID-19 pandemic is severely affecting the commercial vehicle transmission oil pump and transmission system market growth in the region. Response measures need to consider the sudden demand once the pandemic ends. However, recent relaxations in lockdown and the arrangement of large-scale vaccination drives would help the economies to bounce back, which would allow industries to regain their operations in the next few quarters.
The South America 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 Brazil, Argentina, and Rest of SAM. In 2020, the Brazil 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; SHW AG; and BorgWarner Inc. are among the leading companies in the South America 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.