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Bus Transmission System Market Share

Report ID: GMI9915
Published Date: Jun 2024
Report Format: PDF

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Bus Transmission System Market Share

ZF Friedrichshafen AG, Eaton Corporation, and Voith GmbH held significant market share of over 20% market share in 2023. These major players in the market are focusing on advancing their technological capabilities and expanding their product portfolios to meet the growing demand for efficient and environmentally friendly transportation solutions. They are investing in the development of hybrid and electric transmission systems, enhancing their global distribution networks, and entering strategic partnerships to strengthen their market positions.

Companies such as Eaton Corporation are expanding their global footprint through strategic acquisitions and collaborations. They are focusing on integrating smart technology into their transmission systems, such as telematics and IoT connectivity, to enhance operational efficiency and provide real-time data monitoring. This innovation not only optimizes performance but also reduces maintenance costs and downtime, offering a competitive edge in the highly dynamic bus transmission market?.

Bus Transmission System Market Companies

Major players operating in the bus transmission system (BTS) industry are:

Allison Transmission
BorgWarner Inc.
Cummins Inc.
Daimler AG (Mercedes-Benz Group AG)
Dana Incorporated
Eaton Corporation
Hyundai Mobis
Meritor, Inc.
Valeo SA
Voith GmbH
Weichai Holding Group Co., Ltd.
ZF Friedrichshafen AG

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of bus transmission system (BTS) reached USD 21.3 billion in 2023 and is set to witness over 5% CAGR from 2024 to 2032, due to the rising innovations and product introductions by leading companies.

The automatic transmission system segment in the bus transmission system industry accounted for over USD 12 billion in 2023, as these systems offer many advantages over traditional manual transmissions, such as improved fuel efficiency, reduced driver fatigue and smooth driving.

The front wheel drive segment in the bus transmission system (BTS) market is projected to grow at over 4.5% CAGR between 2024 and 2032, as these systems offer several benefits, such as better fuel efficiency, reduced weight, and increased interior space, which are particularly useful for urban buses.

Asia Pacific market accounted for over 40% share in 2023, owing to rapid urbanization, expanded public transport infrastructure, and infrastructure development in the region.