DUBLIN, January 20, 2022 /PRNewswire/ — The “Commercial Vehicle Transfer Case – Global Market Trajectory and Analysis” report has been added to from ResearchAndMarkets.com offer.
Global commercial vehicle transfer case market to reach 12.4 million units by 2026
Growing demand for safety, fuel efficiency, towing capacity for light trucks and SUVs, and traction in extreme weather conditions have been the major factors driving the transfer case market growth .
Growth is also driven by increased commercial vehicle production and the implementation of stringent fuel efficiency and emissions standards in several countries around the world. Increasing demand for commercial vehicles and improving affordability of innovative and advanced systems in developing countries such as China, Brazil, India and Mexico are expected to contribute significantly to the growth of the vehicle transfer case market.
The most significant trend in the transfer case market right now is the growing demand for lightweight cases. There has been a steady increase in the demand for 4WD and AWD in premium sedans and SUVs, which has emerged as one of the major growth factors in the transfer case market. Growth in PHEV and HEV sales driven by improved charging infrastructure is also fueling the market growth.
Amid COVID-19 Crisis, the Global Commercial Vehicle Transfer Case Market esteemed at 10.4 Million Units in 2020, is expected to reach a revised size of 12.4 Million Units by 2026, growing at a CAGR of 3% over the analysis period. .
LCV, one of the segments analyzed in the report, is expected to grow at a CAGR of 3.3% to reach 9 million units by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the M&HCV segment is readjusted to a revised CAGR of 2.2% for the next 7-year period.
This segment currently accounts for a 31% share of the global commercial vehicle transfer case market. Factors such as increase in intercity and construction activities involving the transportation of materials and people are contributing to the growth of the LCV segment.
The US market is estimated at 5.2 million units in 2021, while China is expected to reach 2.1 million units by 2026
The commercial vehicle transfer case market in the United States is estimated at 5.2 million units in 2021. The country currently accounts for a 48.3% share of the global market. Chinathe world’s second largest economy, is expected to reach an estimated market size of 2.1 million units in 2026, growing at a CAGR of 4.3% over the analysis period.
Other notable geographic markets include Japan and Canada, each predicting growth of 2% and 2.4% respectively over the analysis period. In Europe, Germany is expected to grow at a CAGR of approximately 2% while the rest of the European market (as defined in the study) will reach 2.2 million units by the end of the analysis period.
In North AmericaThe increasing number of manufacturing operations is expected to boost the demand for commercial vehicles, which is expected to boost the commercial vehicle transfer case market in the region.
Asia Pacific is a major market for transfer cases due to the adoption of strict emission standards and the rapid construction of charging infrastructure.
Main topics covered:
1. MARKET OVERVIEW
- Impact of the COVID-19 pandemic and the impending global recession
- 2020 marked as a year of disruption and transformation
- As the race between the virus and vaccines heats up, where is the global economy going in 2021
- How is the automotive industry affected by the pandemic and what is the new normal?
- Supply chain disruptions and weak demand lead to a drop in production activity: percent annual change in automotive production in selected countries: 2020 vs. 2019
- The COVID-19 outbreak is having a significant impact on the global commercial vehicle market
- The CV industry is likely to see significant changes in the post-pandemic period
- An introduction to the commercial vehicle transfer case
- Types of transfer cases
- Global Market Outlook and Prospects
- Recent market activity
2. FOCUS ON CERTAIN PLAYERS (Total 32 Featured)
- BorgWarner Inc.
- Cardone Industries, Inc.
- Dana Limited
- Dorman Products
- GKN Automotive Limited
- Hyundai Transys Lear Automotive India Private Limited
- Magna International Inc.
- Meritor, Inc.
- Powertrain Industries
- Schaeffler Technologies AG & Co. KG
- Univance Corporation
- ZF Friedrichshafen AG
3. MARKET TRENDS AND DRIVERS
- Production and Sales of Commercial Vehicles: A Key Driver of Global Transfer Case Market Growth
- Good outlook for all-wheel-drive (AWD) and four-wheel-drive (4WD) vehicles bodes well for market growth
- Automakers’ focus on the fuel-efficient engine market
- Growing need for low-end gears and chain drives in vehicles to drive market gains
- Chain or gear drive transfer cases
- Growing demand for electric and hybrid vehicles: opportunity for transfer cases
- Growing Demand for Battery Electric Vehicles: A Key Market Constraint
- Automotive OEMs Focus on Reducing Road Fatalities: A Business Case for the Transfer Case Market
- Regulations to improve vehicle safety and fuel economy to enhance drivetrain electrification, driving the market growth
- Demand continues to grow for lightweight transfer cases
- Post-pandemic focus on lightweighting will drive massive interest in innovative lightweight transfer cases for CV: Global Automotive Lightweight Materials Market (USD Billion) in the years 2022, 2024, and 2026
- Focus on safety and traction in extreme weather and surface conditions to drive demand for transfer cases in light trucks
- Increase in industrial manufacturing activity and consequent impact on demand for commercial vehicles to influence growth
- Key Challenges Facing the Transfer Case Market
4. GLOBAL MARKET OUTLOOK
- Global 15-Year Outlook for Commercial Vehicle Transfer Case by Geography – Percentage Breakdown of Sales Volume for United States, Canada, Japan, China, Europe, Asia Pacific, Latin America, Middle East and African markets for the years 2012, 2021 and 2027
- Global 15-Year Outlook for Light Commercial Vehicles by Geography – Percentage Breakdown of Volume Sales for United States, Canada, Japan, China, Europe, Asia Pacific, Latin America, Middle East and Africa for the years 2012, 2021 and 2027
- Global 15-Year Outlook for M&HCV by Geography – Percentage Breakdown of Sales Volume for United States, Canada, Japan, China, Europe, Asia Pacific, Latin America, Middle East and Africa for the years 2012, 2021 and 2027
III. REGIONAL MARKET ANALYSIS
For more information on this report, visit https://www.researchandmarkets.com/r/oze0zt
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SOURCE Research and Markets