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Graph and download economic data for Motor Vehicle Retail Sales: Heavy Weight Trucks (HTRUCKSSAAR) from Jan 1967 to Aug 2025 about heavy weight, trucks, retail trade, vehicles, new, sales, retail, and USA.
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The truck transmission system market share is expected to increase by 6484.46 thousand units from 2021 to 2026, at a CAGR of 7.24%.
This truck transmission system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers truck transmission system market segmentations by volume (light-duty trucks and medium and heavy-duty trucks) and geography (North America, APAC, Europe, South America, and MEA). The truck transmission system market report also offers information on several market vendors, including Aisin Corp., Allison Transmission Holdings Inc., American Axle and Manufacturing Inc., BorgWarner Inc., Eaton Corp. Plc, Grupo KUO SAB de CV, Magna International Inc., thyssenkrupp AG, Voith GmbH and Co. KGaA, and ZF Friedrichshafen AG among others.
What will the Truck Transmission System Market Size be During the Forecast Period?
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Truck Transmission System Market: Key Drivers, Trends, and Challenges
The increase in sales of pickup trucks is notably driving the truck transmission system market growth, although factors such as advanced transmission system design leading to vehicle malfunction and recalls may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the truck transmission system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Truck Transmission System Market Driver
The increase in sales of pickup trucks is one of the key drivers supporting the truck transmission system market growth. The reopening of the economy, improving customer sentiments, stimulus checks, and tax refunds contribute to increased demand. The average price of a used pickup truck is now hovering around $19,094 compared to $12,548 last year. But things might be better if you want a used car instead. There is so much demand for used vehicles, especially full-size pickup trucks. Moreover, some buyers are traveling hundreds of miles to get what they want, regardless of the price. Two factors tied to the coronavirus pandemic are driving the trend. Therefore, the growing sales of pickup trucks will drive the global truck transmission system market.
Key Truck Transmission System Market Trend
The increased use of high-speed transmission in trucks is one key trends contributing to the truck transmission system market growth. The prominent Tier-1 suppliers are launching the latest available products and technologies for tracking applications. For instance, ZF Friedrichshafen AG has announced introduced an 8-speed automatic transmission for use in commercial vehicles in 2020. The new advanced automatic transmission is designed for use in Class 5 to Class 8 trucks, weighing up to 57,000 lbs. This advanced automatic transmission system, also known as powerline automatic transmission, is lighter, quieter, and offers superior performance compared with conventional 6-speed transmissions. Apart from trucks, this new 8-speed automatic transmission can be used in buses, recreational vehicles (RV), and other commercial vehicles. Such factors are increasing the demand for high-speed transmission in trucks and thereby, driving the market growth.
Key Truck Transmission System Market Challenge
Advanced transmission system design leading to vehicle malfunction and recalls is one of the factors hindering the truck transmission system market growth. For instance, Daimler AG’s Navistar brand has recalled nearly 21,000 trucks equipped with a faulty transmission. This faulty transmission led to the failure of an internal component in the clutch assembly, leading to vehicle instability while moving. The recall affected nine different international truck models. Such recalls raise not only concerns over the reliability of the transmission system but also pressurize different stakeholders operating in the value chain to undertake liability-sharing to share the cost burden. This is because the average cost of automated manual transmission falls in the range of $2,500 to $4,000 for the automaker. As they are expensive, their maintenance and repair costs are also higher, which can incur additional costs. Such additional costs are hindering market growth.
This truck transmission system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
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Facebook
TwitterIn the United States, the average Class 8 truck was sold at a price of about ******* U.S. dollars in 2018. Class 8 trucks are heavy-duty trucks with a gross vehicle weight rating of greater than ****** pounds.