LONDON--(BUSINESS WIRE)--The truck clutch market size is expected to grow by USD 4.17 billion during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Many leading OEMs are incorporating advanced materials, designs, and more gears while developing transmission systems. As a result, several trucks come equipped with such advanced high-speed transmission systems. For instance, Ford recently showcased a completely redesigned Explorer model at the North American International Auto Show in Detroit. The vehicle boasts a 10-speed transmission system and 318 horsepower. Similarly, Volvo increased the penetration of its ‘I-Shift’ in trucks and buses offered in APAC. The I-Shift is backed with advanced electronics to monitor various parameters to provide smoother shifts and to improve fuel efficiency. Such developments among OEMs will increase the sale of clutches and will drive the market’s growth.
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As per Technavio, the emergence of a triple-clutch transmission system will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Truck Clutch Market: Emergence of a Triple-Clutch Transmission System
Continuous R&D efforts on automatic transmission have led to the emergence of a triple-clutch transmission (TCT) system. The triple-clutch transmission system backed with advanced software, machinery, and designing algorithms can improve the engine’s efficiency and reduce wastage. TCTs can be deployed in mass segment vehicles and newer commercial vehicles are expected to come equipped with such advanced transmission systems. Thus, the adoption of TCTs in the mass commercial vehicle segment will positively impact the growth of the global truck clutch market during the forecast period.
“Factors such as the rising demand for all-electric powertrain in commercial vehicles and increased use of advanced materials in component designing will have a significant impact on the growth of the truck clutch market value during the forecast period,” says a senior analyst at Technavio.
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Truck Clutch Market: Segmentation Analysis
This market research report segments the truck clutch market by application (light-duty trucks and medium & heavy-duty trucks) and geography (North America, APAC, Europe, South America, and MEA).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA, respectively. The growth of the truck clutch market share in APAC can be attributed to several factors such as the rising demand for trucks from e-commerce logistics, growth of construction and mining industries, and improved and stabilized socio-economic conditions of countries across APAC.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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