Commercial Vehicle Transfer Case Market - Global Forecast and Industry Analysis Through 2021 by Technavio

Technavio has published a new report on the global commercial vehicle transfer case market from 2017-2021. (Graphic: Business Wire)

LONDON--()--The global commercial vehicle transfer case market is expected to reach a revenue of 12.26 million by 2021, according to Technavio’s latest report.

In this report, Technavio covers the market outlook and growth prospects of the global commercial vehicle transfer case market for 2017-2021. The market is segmented based on application, which includes LCVs and M&HCVs.

The global commercial vehicle transfer case market is a derived market, and so its growth or decline depends on the number of vehicles sold. The type of transfer case to be equipped is determined after considering the overall length of the commercial vehicle and the configuration of the drivetrain. All commercial vehicles mainly have RWD configuration as it is effective for hauling heavy loads. AWD and 4WD commercial vehicles require an additional axle connecting the transfer case to the front wheel set to transfer torque to front wheel as per the requirements.

Technavio’s automotive research analysts categorize the global commercial vehicle transfer case market into the following segments by regions:

  • Americas
  • APAC
  • EMEA

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Americas: largest commercial vehicle transfer case market

“The rise in the number of manufacturing operations being undertaken within the country is expected to increase the demand for commercial vehicles, thereby driving the market for commercial vehicle transfer case in the Americas. For instance, Walmart is planning to shift production and procurement related operations from China to the US by 2023. This is expected to generate about 5,000 employment opportunities in the US by 2023,” says Siddharth Jaiswal, a lead analyst at Technavio for research on automotive components.

The commercial vehicle market in the Americas is undergoing acute stagnation due to the lack of sufficient freight orders in 2016. The market witnessed a decline of about 20% in 2016 as compared with 2015.

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Commercial vehicle transfer case market in APAC

“India is striving to become one of the top manufacturing hubs by 2021. The manufacturing industry in India is poised to contribute about 30% to the GDP by 2021. The progressing rates of industrialization and urbanization in India will drive the sales of MCVs and HCVs during the forecast period,” adds Siddharth.

Progressing urbanization rates in India will drive levels of national consumption and thereby cause a subsequent increase in the market for commercial vehicles used to facilitate the transport of goods during the forecast period. Also, the increasing pace of construction in urban and semi-urban areas as a part of urbanization will have a positive influence on the sales of commercial vehicles used for the transportation of construction materials till 2021.

Commercial vehicle transfer case market in EMEA

The automotive market in Europe accounted for the maximum share of the market in EMEA in 2016. Markets in the European countries, namely the UK, Spain, and Italy, had modest growth in 2016 but did not contribute significantly to the European commercial vehicle market due to the decline of growth of commercial vehicle market in Germany and France, which constituted Europe’s main commercial vehicle markets.

The commercial vehicles market in the EU had a growth of about 15% in 2016 with the MCV segment accounting for maximum growth. Coach and bus sales remained stable since 2015. Rising preference for roadways for transporting freight is driving the market for MCVs and HCVs.

The top vendors in the global commercial vehicle transfer case market highlighted in the report are:

  • American Axle & Manufacturing
  • GKN
  • ZF Friedrichshafen

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

The global commercial vehicle transfer case market is expected to reach a revenue of 12.26 million during the forecast period, 2017-2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com