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The truck clutch market size is forecast to increase by USD 3.57 billion, at a CAGR of 4.5% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for newer-generation commercial vehicles with improved drivability and ride experience. Stringent regulations imposed by government bodies to reduce vehicle emissions are driving the adoption of sustainable technologies, such as dual-clutch transmissions and automated manual transmissions. However, the market faces challenges from technological constraints, resulting in vehicle recalls and the need for continuous innovation to meet evolving customer requirements. The emergence of triple-clutch transmission systems offers a potential solution to address these challenges, providing enhanced performance and fuel efficiency while maintaining compliance with emissions regulations. Product offerings from key players in the market continue to evolve to meet these demands, ensuring the market remains dynamic and competitive.
The market is poised for significant growth due to the increasing sales of vehicles for both commercial and personal use. With inflating living standards and rising disposable income, there is a growing demand for trucks, particularly in emerging economies. Manual transmissions continue to dominate the market due to their superior performance and durability. However, the market is also witnessing a shift towards automated manual transmissions and automatic transmissions, driven by the convenience and ease of use they offer. One of the potential pitfalls in the market is the high cost of clutches, particularly those made with advanced materials such as ceramic and organic.
These clutches offer superior performance and longer lifespan but come with a premium price tag. Additionally, the maintenance requirements of manual transmissions can be a deterrent for some buyers. Despite these challenges, the market is expected to grow steadily due to the increasing demand for trucks and the ongoing advancements in clutch technology.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The light-duty trucks segment is estimated to witness significant growth during the forecast period. The market encompasses the production and supply of clutches specifically designed for light-duty trucks. Durability is a crucial factor in the development of these clutches, as they are subjected to heavy use in transporting goods and materials. Clutch Industries, UniClutch, and other key players in the market prioritize the use of high-quality materials to ensure clutch longevity. Designs and components are engineered for maximum efficiency and torque capacity to meet the demands of various industries. Light-duty trucks are extensively used in construction and municipality applications, and their clutches must be able to withstand the rigors of these environments. Collaboration between component manufacturers and commercial vehicle OEMs has led to significant growth in the market.
The increasing adoption of light-duty trucks as the preferred mode of transport by several industries has also contributed to market expansion. The launch of new models and advancements in clutch technology continue to drive innovation and competition in the market.
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The light-duty trucks segment accounted for USD 7.86 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 45% 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.
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The market in Asia Pacific (APAC) is experiencing significant growth due to the region's improved socio-economic conditions and the expanding automotive industry. Key contributors to this market include China, Japan, and Australia. Emerging economies, such as China, Indonesia, India, and Thailand, are expected to account for a substantial portion of the market growth. The prime industries driving this growth are e-commerce logistics and construction and mining, which require the use of commercial vehicles like trucks. To meet the increasing demand for heavy-duty trucks, automotive transmission component manufacturers are enhancing their business structures. For instance, in January 2019, BorgWarner expanded its production facility in Kakkalur, India, to produce advanced engine timing and variable cam timing (VCT) systems.
However, this move aims to cater to the burgeoning demand for heavy-duty trucks in Southeast Asia's automotive market. Durability, designs, and materials are crucial factors in ensuring clutch longevity. Clutch Industries, UniClutch, and other key players focus on utilizing high-quality materials and innovative designs to enhance efficiency and torque capacity. These components are essential for the smooth operation of commercial vehicles, particularly trucks, which are subjected to heavy usage in industries like construction and mining. In conclusion, the market in APAC is poised for growth, with China, Japan, and Australia leading the way. Emerging economies are expected to contribute significantly to the market expansion.
To cater to the increasing demand for heavy-duty trucks, manufacturers are investing in advanced technologies and expanding their production capacities. The focus on durability, efficiency, and torque capacity will continue to be key factors in the design and development of clutch components for the truck industry.
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.
Demand for newer generation commercial vehicles is the key driver of the market. The market, encompassing industries such as trade, logistics, construction, mining, agriculture, and transportation, has witnessed substantial growth over the past two decades. This expansion has been driven by the increasing demand for safety, comfort, and efficiency in commercial vehicles, particularly in both developed and emerging automotive markets. Additionally, the rise in long-distance transportation and the implementation of stringent emission regulations have fueled consumer interest in fuel-efficient commercial vehicles. Consequently, the demand for hybrid drivetrains and automated manual transmissions has increased, with fleet operators and logistics providers prioritizing driver comfort and convenience. Breakthrough technological advancements, such as integration capabilities and regulatory shifts, continue to shape the commercial vehicle landscape.
Inflating living standards and the growing preference for personal use of commercial vehicles further bolster market growth.
The emergence of the triple-clutch transmission system is the upcoming trend in the market. The market is witnessing significant advancements with the emergence of breakthrough technologies, such as triple-clutch automatic transmission systems. While dual-clutch automatic transmissions have gained popularity for their improved performance, efficiency, and driving comfort in commercial and personal vehicles, the triple-clutch system represents the next frontier. Prominent automakers and Tier-1 suppliers are investing heavily in the development and commercialization of this technology. For instance, General Motors and Ford Motor Company are betting on the new generation 11-speed triple-clutch transmission system, which promises superior performance over dual-clutch automatics. The integration of advanced software, machinery, and algorithm design enables the triple-clutch system to keep engines running at maximum efficiency, resulting in minimal wastage.
However, potential pitfalls, such as complex design and manufacturing challenges, may hinder widespread adoption. Regulatory shifts towards stricter emissions standards and inflating living standards are expected to fuel demand for more efficient and high-performing clutch systems in the commercial and personal use sectors. Both manual transmissions and automatic transmissions, including triple-clutch systems, will continue to play crucial roles in the truck market.
Technological constraints resulting in vehicle recalls is a key challenge affecting the market growth. The integration of advanced automatic transmission systems in trucks has brought about significant breakthroughs in drivability and performance. However, this technological advancement comes with potential pitfalls, including increased complexity and cost due to the use of multiple clutches, synchromesh gear sets, and lightweight materials. These factors have raised concerns regarding the vulnerability of such systems, as any malfunction can result in substantial costs for both component manufacturers and OEM truck producers, given the liability-sharing business model. In developed automotive markets, such as the US, trucks are equipped with advanced electronics and sensors that facilitate precision-based gear shifting. Commercial and personal use trucks in emerging markets are also adopting these technologies, driven by inflating living standards and the desire for improved driving experiences.
Despite these advancements, manual transmissions continue to hold a significant market share, particularly in certain applications and regions. Regulatory shifts, such as emissions standards, are also influencing the market, driving innovation and the adoption of new technologies.
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.
AB SKF - The company offers clutch support bearings, which are angular contact ball bearings and are designed to carry high axial loads from a double clutch system.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key 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 market is witnessing significant growth due to the increasing commercial use of trucks and the demand for improved performance and durability. The market is driven by various factors, including inflating living standards, stringent regulations, and the integration of sustainable technologies. The clutch industry is focusing on the development of innovative clutch systems to enhance torque capacity, drivability, and clutch longevity. Manual transmissions continue to dominate the market, but there is a growing trend towards dual-clutch transmissions and automated manual transmissions. The shift towards electric vehicles and alternative powertrains, such as mild hybrid solutions and electric powertrains, is also impacting the market.
Regulatory shifts, including strict rules from government bodies regarding vehicle emissions, are pushing the industry to develop more efficient and sustainable clutch systems. Companies are focusing on the use of advanced all-wheel drive and four-wheel drive systems, as well as lightweight materials and thermal performance to improve vehicle efficiency. The market is witnessing breakthrough technological advancements, such as simulated clutch systems and advanced clutch mechanisms, which offer improved ride experience and internal engine modes. The use of organic materials and ultrahigh efficiency motors is also gaining popularity in the market. Overall, The market is expected to grow steadily over the next few years, driven by these factors and the increasing demand for commercial and personal use trucks.
Market Scope |
|
Report Coverage |
Details |
Page number |
152 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market Growth 2024-2028 |
USD 3.57 billion |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
4.23 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 45% |
Key countries |
China, US, Germany, India, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AB SKF, BorgWarner Inc., Eaton Corp. Plc, EXEDY Corp., H.R. Clutch, Phoenix Friction Products, Schaeffler AG, Setco Auto Systems Pvt Ltd, The Gear Centre Group, Tremec Corp., Valeo SA, Wuhu Hefeng clutch Co. Ltd., ZF Friedrichshafen AG, and Zhejiang Tieliu Clutch Co. Ltd. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, 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 market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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