Worldwide Automotive Clutch Plate Indsutry to 2028: Increased Vehicle Production and Sales Drives the Market Growth
DUBLIN, March 3, 2023 -- The "Automotive Clutch Plate Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Vehicle Type, By Demand Category, By Type, and By Region" report has been added to ResearchAndMarkets.com's offering.
The global automotive clutch plate market is anticipated to witness a growth of steady CAGR in the forecast period, 2024-2028.
Companies Mentioned:
- ZF Friedrichshafen AG
- BorgWarner Inc
- Valeo S.A
- Eaton Corporation Plc
- FCC Co. Ltd
- Clutch Auto Ltd.
- Schaeffler AG
- EXEDY Corporation
- NSK Ltd
- Aisin Seiki Co. Ltd
The growing automotive industry, high demand for automatic transmission vehicles, and ongoing advancements in clutch technology are the key factors driving the growth of the global automotive clutch plate market.
An automotive clutch is a type of mechanical device used to transfer energy from the engine and plays a crucial role in shifting gears in an automobile. It is used to prevent the formation of friction between gears from making the driving smooth for the driver. The automotive clutch engages and disengages the engine at different speeds using a gearbox.
The components used in the automotive clutch are flywheel, clutch disk, pilot bushing, crankshaft, throw-out bearing, and pressure plate. Clutches are used in both automatic and manual automobiles. An automatic transmission automobile consists of multiple clutches, while a manual transmission automobile consists of a single clutch.
Increased Vehicle Production and Sales Drives the Market Growth
Total vehicle production in the world in 2020 was 77.62 million. The rise in expenditure capacity of consumers and increasing preference of consumers for private vehicle ownership is driving the sales of automobiles across the globe. The surge in demand for continuous improvement in automobiles by making high-end investments for research and development activities is expected to boost vehicle sales.
Changing demand for vehicles from manual to semi-automatic to automatic transmission vehicles for enhanced driving experience is accelerating the global automotive clutch plate market growth. Rapid urbanization, industrialization, and improved road infrastructure are boosting the development of the logistics industry worldwide.
The flourishing e-commerce industry and the growth of construction, mining, and other prominent industries contribute to the high demand for commercial vehicles. Commercial vehicles are witnessing huge sales around the globe to fulfill the growing consumer needs. The launch of advanced and high-performing cars and the rapid shift towards automatic transmission vehicles are expected to propel the growth of the global automotive clutch plate market for the next five years.
Advancements in Technology Supports the Market Growth
Market players are making efforts and investments in research activities to find innovative solutions and upgrade the existing infrastructure for better performing and advanced clutch in automobiles. The high demand for advanced features and technology in passenger cars attracts customers.
The ever-growing demand for automatic transmission in vehicles due to the increased comfort, convenience, and ease of driving vehicles through heavy traffic conditions creates massive potential for the global automotive clutch plate market. The introduction of superior, advanced, and automatic vehicles by automobile manufacturers to lure youth into purchasing the vehicles is accelerating the adoption of automatic transmission in automobiles.
Rise In Adoption of Electric Vehicles Hinders the Market Growth
The automotive industry is witnessing the transformation from conventional fuel vehicles to electric vehicles due to growing environmental concerns of consumers and fluctuations in crude oil prices. Battery electric vehicles do not require transmission systems as they incorporate electric motors to run electric vehicles.
Favorable government policies and stringent emission norms support the sales and production of electric vehicles. The introduction of advanced high-performance electric vehicles and the development of charging infrastructure bolster the sales of electric vehicles, which is expected to restrain the growth of the global automotive clutch plate market for the forecast period.
Report Scope:
In this report, global automotive clutch plate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Automotive Clutch Plate Market, By Vehicle Type:
- Passenger Car
- LCV
- M&HCV
Automotive Clutch Plate Market, By Demand Category:
- OEM
- Aftermarket
Automotive Clutch Plate Market, By Type:
- Less than 9 inches
- 9.1 to 10 inches
- 10.1 to 11 inches
- More than 11 inches
Automotive Clutch Plate Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- Malaysia
- Thailand
- Indonesia
- Vietnam
- South Korea
- Europe & CIS
- Germany
- France
- United Kingdom
- Spain
- Italy
- Belgium
- Russia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- UAE
- Saudi Arabia
- Egypt
For more information about this report visit https://www.researchandmarkets.com/r/cf1yod
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