This research report titled ‘Global Transmission Oil Pump Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Emerging countries like China, Brazil, and India have been witnessing a rise in demand for automatic cars. The penetration rate for these vehicles is expected to be 57% by 2020. Automatic transmission vehicles need transmission oil pumps for their optimal working, which makes this increased demand a direct driver for the market. Other important drivers are the growing traffic congestion, which makes driving cars very difficult and an increased preference for automatics by inexperienced drivers.
The US is the second largest automotive industry in the world and has the highest penetration for automatic transmission vehicles. It accounted for approximately 95% market share for automatic transmissions in 2015. The increasing penetration of automatic transmission will contribute to the growth of the transmission oil pump market.
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Based on application, the report categorizes the global transmission oil pump market into the following segments:
- Passenger cars
- LCV segment
- M&HCV segment
In terms of unit sales, passenger cars dominate this market, occupying 90% of the total market space and accounting for sales of 35.2 million cars in 2015. Region wise, the Americas leads the market in total sales, having procured 17.9 million units of transmission oil pumps. The US and Canada are the major contributors for this, with the passenger car segment having over 95% penetration of automatic transmission vehicles.
“APAC is the second biggest region in the market, with China in the lead. China is forecast to witness the highest growth with a forecast market size of almost 17 million units by 2020. The high adoption rate in the region can be attributed to the stringent emission norms in the country. Japan and India are the next biggest influencers for this market. The increase in e-commerce and government investments into the development of smart cities will drive the high adoption rates in these markets,” says Praveen Kumar, one of the lead analysts at Technavio for powertrain research.
Light Commercial Vehicle (LCV) segment
The penetration of commercial automatic transmission vehicles is forecast to reach 98% by 2020. The US alone accounted for 2.5 million units of LCVs equipped with automatic transmission, which is expected to increase to 2.8 million units by 2020. In developing countries like India and China, there is a high growth potential for the LCV segment due to the establishment of plants for production of automatic transmission LCVs.
EMEA is slightly behind the other regions as this region provides consumers with an abundance of choices in LCVs. The best-selling LCVs in the region are Volkswagen Transporter and Ford Transit which comes equipped with the most common 6-speed manual. The region also has strict regulations which requires all new vans to stick to the stringent CO2 emission standards. With the introduction of new models, this market will slowly pick up momentum.
Medium and heavy commercial vehicle (M&HCV) segment
Globally, Japan has the highest penetration of automatic transmission M&HCVs, which are popularly used in food trucks, school buses, and municipality trucks. In terms of total units of transmission oil pumps, the US leads the globe, accounting for 410 million units in 2015. China and India are significant contributors as well, with maximum potential for growth. EMEA is expected to almost double the volume of it sales by the end of the forecast period, with a CAGR of 6%.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Magna International
- Bosch Rexroth
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