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The Automated Manual Transmission (AMT) in commercial vehicles market size is forecast to increase by USD 1.24 billion at a CAGR of 5.1% between 2023 and 2028. The AMT market in the commercial vehicles sector is experiencing significant growth, driven by the increasing number of new launches in this segment. This trend is fueled by the benefits of AMTs, such as improved fuel efficiency and easier driving experience, particularly in heavy traffic conditions. However, the high initial and maintenance costs associated with AMTs remain a challenge for market expansion. Furthermore, the emergence of advanced technologies like 3D printing in truck components is expected to disrupt the commercial vehicle industry, potentially reducing production costs and increasing customization options for manufacturers. In summary, the AMT market in commercial vehicles is witnessing growth, but the high costs and the impact of emerging technologies present significant challenges that need to be addressed for sustainable market expansion.
The market is experiencing significant growth due to the increasing focus on fuel efficiency and eco-friendliness in the logistics and transportation sectors. Electronic Control Units and Sensor Technologies play a crucial role in enhancing fuel efficiency and reducing driver fatigue. The regulatory landscape, including emission regulations, is also driving the adoption of AMTs in commercial vehicles. E-commerce and fleet management are major applications for commercial vehicle AMTs, with the need for efficient and cost-effective transportation solutions. Smart Technologies and connectivity features are also gaining popularity, as consumer behavior continues to shift towards more convenient and technologically advanced solutions. Political and social factors, such as infrastructure investments and geopolitical tensions, can impact the market's growth. The market is expected to witness demand for electric and hybrid commercial vehicles, with safety systems and driver-assistance systems becoming increasingly important. The regulatory landscape, consumer behavior, and technological advancements will continue to influence the market's development. Overall, the Commercial Vehicle AMT market is a dynamic and evolving industry that is poised for continued growth.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The OEM segment is estimated to witness significant growth during the forecast period. The market is witnessing significant growth due to the increasing focus on fuel efficiency, driver fatigue reduction, and logistics optimization in transportation. Electronic Control Units (ECUs) and sensor technologies are being integrated into commercial vehicles to enhance operational efficiency and adhere to emission regulations.
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The OEM segment was the largest segment and valued at USD 3.44 billion in 2018. Eco-friendly and next-generation systems, such as electrification, automation, connectivity, and alternative energy sources, are gaining consumer preferences for cleaner transportation. Fleet management and smart technologies are essential for reducing operational costs through software algorithms and real-time data analysis. Hence, such factors are fuelling the growth of this segment during the forecast period.
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Europe is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The commercial vehicles market holds significant long-term potential due to the increasing demand for transportation solutions that cater to various industries. This sector is expected to experience steady growth as a result of factors such as expanding economies, urbanization, and infrastructure development. The market is driven by the need for efficient and cost-effective transportation solutions, particularly in sectors like logistics, construction, and agriculture. Companies are investing in research and development to introduce innovative products that cater to evolving customer needs. Hence, such factors are fuelling the growth of the market in Europe during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increase in new launches of AMT in commercial vehicles is notably driving market growth. The market has experienced significant growth in the adoption of Advanced Manual Transmissions (AMTs) due to various factors. Consumers are increasingly seeking eco-friendly and efficient transportation solutions, leading to a rise in demand for vehicles equipped with AMTs.
Moreover, these systems offer the advantages of both manual and automatic transmissions, including improved fuel efficiency, reduced driver fatigue, and enhanced operational efficiency. Logistics and transportation industries are embracing smart technologies such as Electronic Control Units and sensor technologies to optimize fleet management and reduce their carbon footprint. Thus, such factors are driving the growth of the market during the forecast period.
Emergence of 3D printing in truck components is the key trend in the market. In the commercial vehicles market, the focus on fuel efficiency, driver fatigue reduction, and logistics optimization has led to significant advancements in transportation technology. Electronic Control Units (ECUs) and sensor technologies are being integrated into commercial vehicles to enhance operational efficiency and reduce carbon footprint.
Moreover, emission regulations continue to drive the adoption of eco-friendly, next-generation systems, including electrification through electric and hybrid vehicles, and alternative energy sources. Consumer behavior and social factors are also influencing the market, with a growing preference for sustainable practices and connectivity features. Thus, such trends will shape the growth of the market during the forecast period.
High initial and maintenance costs of AMTs is the major challenge that affects the growth of the market. The market is experiencing significant growth due to the increasing demand for cleaner, more efficient transportation solutions. Fuel efficiency and eco-friendly practices are key consumer preferences in the logistics and transportation sectors, leading to the adoption of advanced technologies such as AMTs.
Moreover, Electronic Control Units and sensor technologies are integral components of AMT systems, enabling improved operational efficiency and emission regulations compliance. Moreover, the integration of smart technologies, connectivity features, and software algorithms in commercial vehicles is driving the market forward. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AB Volvo: The company offers automated manual transmission solutions such as I-Shift automated manual transmission, the Mack mDRIVE Automated Manual Transmission and others.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Commercial Vehicle Automated Manual Transmission (AMT) market is witnessing significant growth due to the increasing focus on fuel efficiency, eco-friendliness, and advanced technologies. Logistics and transportation industries are embracing AMTs to reduce operational costs and improve operational efficiency. Electronic Control Units (ECUs) and sensor technologies are integral to AMTs, ensuring seamless gear shifting and improved fuel economy. Emission regulations are driving the adoption of cleaner transportation solutions, leading to the electrification of commercial vehicles through electric and hybrid models. Consumer behavior and preferences are shifting towards sustainable practices, creating a demand for eco-friendly commercial vehicles. Fleet management and smart technologies are enabling real-time monitoring, predictive maintenance, and connectivity features, reducing carbon footprint and enhancing safety. Political and social factors, including geopolitical tensions and infrastructure investments, are influencing the technological adoption and digitalization of commercial vehicle AMTs. Next-generation systems, such as automation and software algorithms, are transforming the commercial vehicle landscape, offering significant operational efficiency and environmental impact benefits. E-commerce and the need for efficient last-mile delivery are further fueling the growth of the commercial vehicle AMT market. Safety systems and driver-assistance technologies are essential features, ensuring the well-being of drivers and reducing driver fatigue. In conclusion, the commercial vehicle AMT market is poised for growth, driven by fuel efficiency, eco-friendliness, advanced technologies, and consumer preferences. The market is expected to witness continued innovation, focusing on emissions regulations, alternative energy sources, and connectivity.
Market Scope |
|
Report Coverage |
Details |
Page number |
205 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.1% |
Market growth 2024-2028 |
USD 1.24 billion |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
4.46 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 47% |
Key countries |
US, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AB Volvo, BorgWarner Inc., Chery Automobile Co. Ltd., Dana Inc., Eaton Corp plc, Hyundai Heavy Industries Group, Mercedes Benz Group AG, Robert Bosch GmbH, Scania AB, Schaeffler AG, Shaanxi Fast Auto Drive Group Co., Ltd, Volkswagen AG, and ZF Friedrichshafen AG |
Market dynamics |
Parent market analysis, market report , market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Type
9 Market Segmentation by Vehicle Type
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
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