Automotive Clutch Market Growth
The global automotive
clutch market size is projected to reach USD 16 billion by 2027, according
to the latest report by Market Research Future (MRFR). It can expand at 5% CAGR
from 2023 to 2032. MRFR’s report on the automotive clutch market comprises growth
and revenue projections for the forecast period (2020-2027). The COVID-19
pandemic and its implications are explored in depth in the market report.
Market Scope
The global automotive
clutch market is driven by inclination towards automatic and semi-automatic
vehicles as well as plans for vehicle electrification. OEMs are expanding
production of clutches by establishing new facilities to cater to growing
demand of automobiles. Shift towards fuel efficient systems owing to
environment-friendly regulations and technological advances in battery electric
vehicle can bode well for the market.
Battery electric vehicles
are deemed to garner interest in the automotive clutch market. Low maintenance
costs and encouragement given to fuel economy as well as subsidies by
governments can propel market growth. Launch of premium cars and focus on
comfort of the driver will be lucrative for the market in the coming years.
This is evident by large number of car sales in the U.S. and Canada.
But the replacement of
manual clutches can pose a challenge to the market.
COVID-19 Impact
The COVID-19 pandemic has negatively
impacted the automotive clutch market owing to production facilities being shut
down. Relaxation of restrictions has favored the industry as automobile
companies resumed production. Huge demand for electric vehicles is likely to
create opportunities in the coming years.
Segmentation
BFSI Vertical to Dominate
Market Demand
By clutch type,
the market is segmented into hydraulic clutch, dog clutch, friction clutch, and
other. A dog clutch couples two shafts in order to transmit motion. One part
having teeth engages with slots in another. In a friction clutch, the drive is
transmitted by the friction between surfaces attached to the driving and driven
shafts.
Automated Transmission Systems to Dominate Market Share
By transmission
type, the market has been divided into automated and manual. Automated
transmission systems are likely to gain a large market share due to advances in
automation. Launch of dual clutch and hybrid dual clutch transmission systems
for latest vehicles can drive the segment growth.
Commercial
Vehicles to Lead in Automotive Clutch Market
Based on vehicle
type, the market has been bifurcated into the commercial vehicle and passenger
car. Commercial vehicles are likely to capture market share as logistic
companies aim to expand their fleets. This is evident by launch of concentric
pneumatic clutch actuators by the Eaton Group for spring clutches.
Regional Analysis
APAC to Capture Major
Market Share
Asia-Pacific is expected
to capture a large market share owing to technological breakthroughs in dual
clutch transmission systems and sales of automobiles. Investments in developing
economies of India and China by leading manufacturers to offset prices of
products as well as inclination towards electric vehicles can drive the market
demand.
Competitive Analysis
Valeo, Aisin Seiki, EXEDY,
BorgWarner Clutch Auto Limited, Schaeffer, Eaton Corporation, Magneti Marelli, FCC,
ZF Friedrichshafen, and others are key players in the global automotive clutch
market. Acquisitions and mergers are to be witnessed in the market as
automotive companies look to consolidate the industry.
Industry News
Great Walls Motor (GWM) Company
Limited has developed a 9-speed dual clutch transmission for electric vehicles.
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