Dublin, Jan. 26, 2022 (GLOBE NEWSWIRE) -- The "Commercial Vehicle Transfer Case - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Commercial Vehicle Transfer Case Market to Reach 12.4 Million Units by the Year 2026
Increasing demand for safety, fuel efficiency, ability to tow for light trucks and SUVs, and traction in severe weather conditions have been the major factors driving the transfer case market growth.
Growth is also being driven by increasing commercial vehicle production and the implementation of stringent fuel-efficiency standards and emission norms in several countries around the world. Rising commercial vehicle demand and improving affordability of innovative and advance system in developing countries such as China, Brazil, India and Mexico are expected to significantly contribute towards the vehicle transfer case market growth.
The most prominent trend in the market for transfer cases currently is the rising demand for lightweight cases. There has been a steady rise in demand for 4WD and AWD in premium sedans and SUVs, which emerged as one of the chief growth promoting factor for the market for transfer cases. Growing sales of PHEVs and HEVs promoted by improving charging infrastructure is also fueling market growth.
Amid the COVID-19 crisis, the global market for Commercial Vehicle Transfer Case estimated at 10.4 Million Units in the year 2020, is projected 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 projected to grow at a 3.3% CAGR to reach 9 Million Units by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the M&HCV segment is readjusted to a revised 2.2% CAGR 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 increasing inter-city and construction activities that involve transportation of materials and individuals contribute to growth in the LCV segment.
The U.S. Market is Estimated at 5.2 Million Units in 2021, While China is Forecast to Reach 2.1 Million Units by 2026
The Commercial Vehicle Transfer Case market in the U.S. is estimated at 5.2 Million Units in the year 2021. The country currently accounts for a 48.3% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of 2.1 Million Units in the year 2026 trailing a CAGR of 4.3% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2% and 2.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2% CAGR while Rest of European market (as defined in the study) will reach 2.2 Million Units by the end of the analysis period.
In North America, the growing number of manufacturing operations is anticipated to drive the demand for commercial vehicles, which is anticipated to drive the commercial vehicle transfer case market in the region.
Asia-Pacific is a major market for transfer cases owing to the adoption of stringent emission norms and the rapid buildout of charging infrastructure.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession
- 2020 Marked as a Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021
- How the Automotive Industry Is Impacted by the Pandemic & What's the New Normal?
- Supply Chain Disruptions and Weak Demand Send Production Activity Slumping: Automobile Production % YoY Change Across Select Countries: 2020 Vs 2019
- COVID-19 Outbreak Significantly Impacts the Global Commercial Vehicles Market
- CV Industry Likely to See Significant Changes in the Post-Pandemic Period
- An Introduction to Commercial Vehicle Transfer Case
- Types of Transfer Cases
- Global Market Prospects & Outlook
- Competition
- Recent Market Activity
2. FOCUS ON SELECT 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 & DRIVERS
- Production and Sales of Commercial Vehicles: A Key Determinant of Growth in the Global Transfer Case Market
- Healthy Outlook for All-Wheel Drive (AWD) & Four Wheel Drive (4WD) Vehicles Bodes Well for Market Growth
- Auto Manufacturers' Focus on Fuel Efficiency Drives Market
- Growing Need for Low Range Gears and Chain Drives in Vehicles to Drive Market Gains
- Chain Driven Vs Gear Driven Transfer Cases
- Increasing Demand for Electric and Hybrid Vehicles: Opportunity for Transfer Cases
- Growing Demand for Battery Electric Vehicles: A Key Market Restraint
- Auto OEMs Focus on Reducing Highway Fatalities: A Business Case for Transfer Case Market
- Regulations to Improve Safety and Fuel Economy of Vehicles to Enhance Drivetrain Electrification, Spurring Market Growth
- Demand Continues to Grow for Lightweight Transfer Cases
- Post Pandemic Focus on Lightweighting Will Create Massive Interest in Innovative Lightweight Transfer Case for CVs: Global Automotive Lightweight Materials Market (In US$ Billion) for the Years 2022, 2024 & 2026
- Emphasis on Safety & Traction in Extreme Weather & Surface Conditions to Propel Demand for Transfer Cases in Light Trucks
- Rise in Industrial Manufacturing Activity and Consequent Impact on Commercial Vehicles Demand to Influence Growth
- Key Challenges Facing Transfer Case Market
4. GLOBAL MARKET PERSPECTIVE
- World 15-Year Perspective for Commercial Vehicle Transfer Case by Geographic Region - Percentage Breakdown of Volume Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2012, 2021 & 2027
- World 15-Year Perspective for LCV by Geographic Region - Percentage Breakdown of Volume Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
- World 15-Year Perspective for M&HCV by Geographic Region - Percentage Breakdown of Volume Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/80s7g5
