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The Automotive Clutch Market size is forecast to increase by USD 4.49 billion, at a CAGR of 5.78% between 2023 and 2028. The accelerated growth of the market is due to various factors, including rising disposable incomes and changing consumer preferences toward advanced vehicles, the rising demand for clutch repair and replacement services, and the increasing demand for lightweight and compact clutch design. The report provides market size, historical data spanning from 2018-2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising disposable incomes and changing consumer preferences toward advanced vehicles are the key factors driving market growth. Advanced transmission technologies inculcated offer benefits such as improved fuel efficiency, smoother gear shifts, and enhanced driving comfort, aligning with the preferences of discerning consumers seeking superior performance and convenience. Moreover, changing consumer preferences toward advanced vehicles reflect a broader shift in the automotive industry toward electrification, connectivity, and autonomous driving.
Further, in response to the changing consumer preferences and increasing disposable incomes, automotive manufacturers and suppliers are investing in research and development to innovate and enhance technologies. This includes the development of lightweight and compact designs, integration of advanced materials, and implementation of smart transmission control systems to meet the evolving demands of the market. Thus, such factors will drive the market during the forecast period.
Increasing demand for automated manual transmissions (AMTs) and dual-clutch transmissions (DCTs) is the primary trend shaping market. AMTs and DCTs offer several advantages over traditional manual transmissions, including improved fuel efficiency, smoother gear shifts, and enhanced driving comfort. As consumers seek vehicles with advanced transmission technologies that provide the convenience of automatic transmissions while retaining the fuel efficiency and performance benefits of manual transmissions, the adoption of AMTs and DCTs continues to rise.
Moreover, one prominent market player catering to the growing demand for AMTs and DCTs is BorgWarner Inc., specializing in providing advanced transmission solutions, including for a wide range of vehicles such as passengers and commercial vehicles. Therefore, the growing advantages, such as improved fuel efficiency, smooth gear shifts, and others offered by AMTs and DCTs, can drive the expansion of the market during the forecast period.
Stringent regulatory requirements to meet durability and reliability standards is a challenge that affects market growth. Governments worldwide impose regulations to ensure that automotive components meet rigorous durability and reliability standards to enhance vehicle safety, performance, and longevity. For example, in the European Union (EU), such systems must comply with regulations outlined in the European Commission's directives on vehicle safety and emissions. Similarly, in the United States, the National Highway Traffic Safety Administration (NHTSA) establishes safety standards for automotive components through Federal Motor Vehicle Safety Standards (FMVSS).
Consequently, complying with these regulatory requirements necessitates extensive testing, documentation, and certification processes, which can be time-consuming and costly for manufacturers. Additionally, differing regulatory frameworks across regions create complexities for manufacturers operating in multiple markets, requiring them to adapt their products and processes to meet varied standards effectively. Therefore, the above-mentioned factors are expected to hamper the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The OEM segment is estimated to witness significant growth during the forecast period. In the market, original equipment manufacturers (OEMs) distribute their products through various channels to reach customers worldwide. OEMs primarily supply directly to vehicle manufacturers for installation in new vehicles during the production process. This OEM channel accounts for a significant portion of sales, as automakers rely on high-quality clutch systems to ensure the performance and reliability of their vehicles.
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The OEM segment was the largest segment and was valued at USD 7.92 billion in 2018. A prominent player offering in the OEM segment is ZF Friedrichshafen AG, a leading supplier that delivers innovative solutions to OEMs globally, emphasizing performance and efficiency. Similarly, Schaeffler AG, renowned for its precision-engineered components, offers a comprehensive range. Through strategic partnerships and robust distribution networks, these OEMs play a pivotal role in supplying to meet the demands of the global market. Therefore, the market will witness growth during the forecast period.
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APAC is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The region holds significant influence in the market due to its burgeoning automotive industry, rapid urbanization, and increasing demand for passenger and commercial vehicles. Countries such as China, Japan, India, and South Korea are key contributors in terms of the automotive industry to the APAC market.
Moreover, China, as the world's largest automotive market, drives substantial demand, particularly with its robust manufacturing sector and growing vehicle production. Additionally, the commercial vehicle sector in APAC countries, including India and Southeast Asian nations, contributes to the demand for heavy-duty for trucks, buses, and other commercial vehicles. Thus, such factors are expected to further drive the growth of the APAC market during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The market is experiencing significant evolution driven by global market growth and the adoption of convenient transmission modes. Manual, semi-automatic, and fully automatic transmission systems cater to diverse preferences, especially in emerging economies. Original Equipment Manufacturers (OEMs) are expanding production capacity with new facilities to meet market demand. Despite the rise of electric vehicles (EVs) and the dominance of torque converters in automatic transmission systems, the automotive clutch industry remains pivotal.
The transition towards EVs brings notable changes, including the prominence of electric motors with flat power curves, impacting RPM and maintenance costs. Environmental concerns drive the shift towards sustainable transportation, reducing fossil fuel dependency with government subsidies incentivizing automotive companies. Understanding these dynamics is crucial for navigating the ever-evolving automotive clutch market landscape.
Automotive Clutch Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.78% |
Market Growth 2024-2028 |
USD 4.49 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.25 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 35% |
Key countries |
US, China, Japan, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AISIN CORP., BorgWarner Inc., Burg Germany GmbH, Eaton Corp. Plc, EXEDY Corp., FCC Clutch India Pvt. Ltd., GMP Friction Products, NSK Ltd., Schaeffler AG, SEPAC Inc., The Rowland Co., Valeo SA, Wabtec Corp., WPT Power Corp., ZF Friedrichshafen AG, Honda Motor Co. Ltd., Hyundai Motor Co., Mercedes Benz Group AG, Nissan Motor Co. Ltd., and Toyota Motor Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Channel
7 Market Segmentation by Vehicle Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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