Commercial Vehicle Transmission Oil Pump and Transmission System Market to Grow at a CAGR of 6.1% to reach US$ 44,394.08 Million from 2020 to 2028

Commercial Vehicle Transmission Oil Pump and Transmission System Market Forecast to 2028 - COVID-19 Impact and Global 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) and Geography

Publication Month : Aug 2021

  • Report Code : TIPRE00023859
  • Category : Automotive and Transportation
  • Status : Published
  • No. of Pages : 132
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The commercial vehicle transmission oil pump and transmission system market is expected to grow from US$ 29,302.0 million in 2021 to US$ 44,394.08 million by 2028; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028.

The transmission system ensures a smooth and comfortable drive by transferring the maximum amount of power from an engine to the wheels via the 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.

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 are adopting 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 global commercial vehicle transmission oil pump and transmission system market.      

Impact of COVID-19 Pandemic on Commercial Vehicle Transmission Oil Pump and Transmission System Market

The recent COVID-19 pandemic has severely impacted the growth of the commercial vehicle transmission oil pump and transmission system market. The pandemic created numerous challenges for the automobile sector stakeholders. The players operating in the automotive industry have undertaken several initiatives to overcome the supply chain disruptions caused by the pandemic. The imposition of lockdown by respective governments has resulted in slower production of automobiles, which, in turn, has hindered the production of commercial vehicle transmission oil pumps and transmission systems. However, with the introduction of the COVID-19 vaccine in the APAC, the impact on the supply chain is currently minimal due to the resumption of automobile companies’ operations in various countries of APAC. Thus, the region is set to lead the post-pandemic growth of the commercial vehicle transmission oil pump and transmission system market.

 

Lucrative Regions for Commercial Vehicle Transmission Oil Pump and Transmission System Market

Lucrative Regions for Commercial Vehicle Transmission Oil Pump and Transmission System Market
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Market Insight

Surge in Demand for Electric Transmission Oil Pumps

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. The automotive companies have developed an idling stop system which automatically stops the engine when the vehicle is brought to a stop at signals and then activates as the car sets off again. The Idling Stop is active when the engine is sufficiently warm and when the vehicle speed has gone over 20km/h. After stepping on the brake and stopping the vehicle, the idling stop is activated after around 1 second, hence a vehicle with idling stop improves fuel economy by turning off the engine. 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 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, a surge in demand for electric transmission oil pumps will drive the market.

Offering Segment Insights

In terms of offering, the global commercial vehicle transmission oil pump and transmission system market is bifurcated into transmission oil pump and transmission system.

The transmission oil pump segment is expected to grow at a significant rate in the coming years, owing to the increasing number of commercial vehicle fleets on-road and the rising penetration of automatic transmission-based vehicles across the world. A transmission oil pump provides various benefits in shifting gear and engine control strategies such as automatic transmission gear shift, changing engine speeds, and maintaining fuel efficiency. The pump is designed to attain the highest oil pump efficiency and help to curb CO2 emissions and reduce the carbon footprint from the environment.

The transmission oil pump is one of the most vital parts of the vehicle as it controls the overall displacement process of the vehicle. Displacement is the volume of fluid moved by the pump during each cycle. The transmission oil pump forces automatic transmission fluid (ATF) to supply fluid or oil to the hydraulic actuator with the valve body of the vehicle. In addition, the pump allows other components in the transmission to function properly. 

Oil Pump Product Type Segment Insights

Based on oil pump product type, the global commercial vehicle transmission oil pump and transmission system market is further bifurcated into fixed displacement pump and variable displacement pump.

A fixed displacement pump delivers a constant volume of oil for a given shaft speed. These pumps are well suited to a wide range of functions where the amount of pressure required to perform work is the same every time. For instance, if a pump is 30 cc, it will push 30 ml of hydraulic fluid through the system for a single rotation. The pressure and flow rate do not change, no matter how the pump operates or what occurs elsewhere in the system. Since industrial hydraulic systems generally use constant-speed electric motors as prime movers, fixed displacement pumps are ideal for heavy-duty construction and high dirt tolerance in civil and marine projects. Hence, fixed displacement pumps are perfect for single jobs that need to be repeated indefinitely over long periods.

Oil Pump Type Segment Insights

Automobile OEMs across the world are looking to improve their overall vehicle and engine efficiency in terms of fuel economy and power output. Efficiency improvement is possible by cutting down the engine parasitic loads. One such parasitic load is a transmission oil pump, which lubricates the engine parts. The transmission oil pump is the heart of an engine lubrication system, and its important functions include cooling and lubricating the moving parts of the engine by delivering adequate oil flow based on the engine demand. Hence, the transmission oil pump is vital in any commercial vehicle. Vane type, gear type, and rotor type are the three main types of transmission oil pumps.

Transmission System Type Segment Insights

Commercial vehicles come in varied options based on drivetrains such as front-wheel drive and four-wheel drive. Also, the commercial vehicles are available in transmission system type such as automatic or manual gear type vehicles. The transmission system is a metal case that houses a series of gears, which is also known as a gearbox. Based on transmission system type, the global commercial vehicle transmission oil pump and transmission system market is segmented into manual transmission, automatic transmission, and automated manual transmission system.

Vehicle Type Segment Insights

There are eight classes of commercial motor vehicles, and they are divided into three general categories –medium-duty commercial vehicle (MCV) and heavy-duty commercial vehicle (HCV). Commercial motor vehicles or trucks that operate on highways can be classified based on their gross vehicle weight rating (GVWR). The GVWR is a safety standard used to prevent the overloading of trucks. It is the maximum safe operating weight of a vehicle, and it includes the net weight of a vehicle, passengers, drivers, fuel, and cargo. The GVWR of a truck does not change after a manufacturer determines it for a vehicle.

Powertrain Type Segment Insights

The automotive powertrain of any vehicle defines its safety, performance, and comfort. A powertrain comprises all components that produce power for the vehicle and transfer it simultaneously to the wheels, thereby enabling vehicle movement. The overall performance of the vehicle and its efficiency depends on the properties of the powertrain system. The powertrain type can be segmented into three different sections – internal combustion engine, electric, and hybrid.

Commercial Vehicle Transmission Oil Pump and Transmission System Market, by Powertrain Type (% Share)

Commercial Vehicle Transmission Oil Pump and Transmission System Market, by Powertrain Type (% Share)
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Commercial Vehicle Transmission Oil Pump and Transmission System Market: Strategic Insights

commercial-vehicle-transmission-oil-pump-and-transmission-systems-market
Market Size Value inUS$ 29,302.0 Million in 2021
Market Size Value byUS$ 44,394.08 Million by 2028
Growth rateCAGR of 6.1% from 2021-2028
Forecast Period2021-2028
Base Year2021
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The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors. In March 2021, Eaton Group acquired Tripp Lite, which is a leading supplier of power quality products and connectivity solutions including single-phase uninterruptible power supply systems, rack power distribution units, surge protectors, and enclosures for data centers, industrial, medical, and communications markets in North and South America.

The commercial vehicle transmission oil pump and transmission system market is segmented based on offering, oil pump product type, oil pump type, transmission system type, vehicle type, powertrain type, and geography. Based on offering, the market is bifurcated into transmission oil pump and transmission system. In terms of oil pump product type, the market is segmented into fixed displacement pump and variable displacement pump. Based on oil pump type, the market is categorized into vane type, gear type, and rotor type. In terms of transmission system type, the market is categorized into manual transmission, automatic transmission, and automated manual transmission. Based on vehicle type, the market is segmented into LCV (Class I and Class II), MCV (Class III and Class VI), and HCV (Class VII to Class VIII). Based on powertrain type, the market is segmented into internal combustion engine, electric, and hybrid. Geographically, the commercial vehicle transmission oil pump and transmission system market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, India, Japan, South Korea, and Rest of APAC), Middle East & Africa (Saudi Arabia, South Africa, the UAE, and Rest of MEA), and South America (Brazil, Argentina, and Rest of SAM).

Commercial Vehicle Transmission Oil Pump and Transmission System Market – Company Profiles

  • Allison Transmission Holding INC
  • BorgWarner Inc.
  • Qijiang Gear Transmission Co., Ltd.
  • 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
  • Zhejiang Wanliyang Co., Ltd.
  • Hyundai Transys
  • Scherzinger Pumpen GmbH & Co. KG
  • Fuxin Del Auto Parts Co., Ltd.
  • SLPT
  • Vitesco Technologies
  • SHW AG
  • Mahle GmbH
  • Concentric AB
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Offering , Oil Pump Product Type , Oil Pump Type , Transmission System Type , Vehicle Type , and Powertrain Type and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Which region is holding the largest market share worldwide?

North America is holding the largest market share in 2020 and expected to grow at 5.2% CAGR. The growth of North America market is attributed to the region’s government policies for its automotive sector coupled with the one of the largest transportation infrastructures across the world. As per the International Organization of Motor Vehicle Manufacturers (OICA), the US is the largest country worldwide to manufacture commercial vehicle. In 2020, the country manufactured 8,156,769 units of new commercial vehicle.

Which product is expected to dominate the market in the forecast period?

Transmission system is expected to dominate the commercial vehicle transmission oil pump and transmission system market. The Transmission system segment led the commercial vehicle transmission oil pump and transmission systems market with the highest market share in 2020. The transmission system in a vehicle helps transmit mechanical power from the car engine to give kinetic energy to the wheels. It is an interconnected system of gears, shafts, and other electrical gadgets that form a bridge to transfer power and energy from the engine to the wheels. The complete setup of the system helps maintain the cruising speed of a car without disturbing the car’s performance.

What are reasons behind commercial vehicle transmission oil pump and transmission system market growth?

The market is expected to grow because of technological improvements and the evolution of transmission systems to suit performance needs across various vehicle types, such as HCVs and passenger vehicles. Advanced techniques, such as Automated Manual Transmission (AMT), are used by automotive OEMs to minimize fuel consumption and CO2 emissions while preserving performance. Moreover, the growth of CO2 restrictions continues to be the fundamental driver of automobile technology advancements. The need for greenhouse gas-neutral powertrains drives the development of electrified systems and the search for feasible options for alternative, low-carbon fuels. Thus, stringent government standards associated with carbon emissions will drive the market growth for commercial vehicle transmission oil pump and transmission system market.

What is the growth rate of commercial vehicle transmission oil pump and transmission system market globally?

The global commercial vehicle transmission oil pump and transmission system market was valued at US$ 28,654.99 million in 2020 and is expected to reach US$ 44,394.08 million by 2028; it is estimated to register a CAGR of 6.1% during the forecast period. Furthermore, the rapid technological advancements in automotive transmission systems by manufacture are anticipated to boost the growth of the market further.

What are market opportunities for Commercial Vehicle Transmission Oil Pump and Transmission System?

Transmission System in Electric Commercial Vehicle is expected to provide the market a lucrative opportunity to grow in the forecast years. Transmission system for electric vehicles is utilized to transfer mechanical power from an electric traction motor to the wheels. Most of the electric cars are equipped with single-speed transmissions, which are sufficient for efficient operation in today's world.

Which are the key market participants operating in the commercial vehicle transmission oil pump and transmission system market?

The key companies operating in the commercial vehicle transmission oil pump and transmission system market include Allison Transmission Holdings INC; BorgWarner INC; Chongqing Hanjiang Gear Transmission Co., Ltd; Daimler AG; Eaton Corporation; HYUNDAI TRANSYS; Mack Trucks; Scania; Sinotruk (Hong Kong) Limited; Jinan Transmission Division; Datong Gear Co., Ltd; Shaanxi Fast Auto Gear Co., Ltd; Volvo; Voith GmbH; ZF Friedrichshafen; Zhejiang wanliyang Co., Ltd; Scherzinger Pumpen GmbH & Co. KG; Fuxin Del Auto Parts Co., Ltd.; SLPT; Vitesco Technologies; SHW; and MAHLE GMBH.

The List of Companies - Commercial Vehicle Transmission Oil Pump and Transmission System Market

  1. Allison Transmission Holding INC
  2. BorgWarner Inc.
  3. Qijiang Gear Transmission Co., Ltd.
  4. Daimler AG
  5. Eaton Group
  6. Mack Trucks
  7. Scania
  8. Sinotruk (Hong Kong) Limited
  9. Shaanxi Fast Auto Drive Co. Ltd.
  10. Volvo AG
  11. Voith GmbH & Co. KGaA
  12. ZF Friedrichshafen AG
  13. Zhejiang Wanliyang Co., Ltd.
  14. Hyundai Transys
  15. Scherzinger Pumpen GmbH & Co. KG
  16. Fuxin Del Auto Parts Co., Ltd.
  17. SLPT
  18. Vitesco Technologies
  19. SHW AG
  20. Mahle GmbH
  21. Concentric AB

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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