Truck Clutch Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

The truck clutch market share is expected to increase to USD 5.40 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.5%.

This truck clutch market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers truck clutch market segmentation by application (light-duty trucks and medium and heavy-duty trucks) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The truck clutch market report also offers information on several market vendors, including AB SKF, BorgWarner Inc., Eaton Corp. Plc, EXEDY Corp., H.R. Clutch, Phoenix Friction Products, Schaeffler AG, Setco Automotive Ltd., The Gear Centre Group, Tremec, Valeo SA, Wuhu Hefeng clutch Co. Ltd., and ZF Friedrichshafen AG among others.

What will the Truck Clutch Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Truck Clutch Market Size for the Forecast Period and Other Important Statistics

 

Truck Clutch Market: Key Drivers, Trends, and Challenges

The demand for newer generation commercial vehicles is notably driving the truck clutch market growth, although factors such as the technological constraints resulting in vehicle recalls may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the truck clutch industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Truck Clutch Market Driver

• One of the key factors driving growth in the truck clutch market is the demand for newer generation commercial vehicles.
• Globally, activities such as trade, logistics, construction, mining, agriculture, transportation, and mining have increased significantly over the last two decades. Such activities have fueled demand for safety, comfort, and convenience functionalities in commercial vehicles in both developed and developing automotive markets, leading to strong year-over-year sales.
• The introduction of stringent emission norms has stoked consumer demand for fuel-efficient commercial vehicles. This has raised the demand for all segments of commercial vehicles and encouraged the adoption of hybrid drivetrains.
• To satiate the growing demand for driver comfort and convenience from fleet operators and logistics service providers, automated manual transmissions are being increasingly deployed in trucks, especially medium-duty trucks.
• The increasing sales of trucks with automated manual transmission systems are expected to drive the revenue of the global truck clutch market.

Key Truck Clutch Market Trend

• The emergence of triple-clutch transmission system is a truck clutch market trend that is expected to have a positive impact in the coming years.
• At present, the dual-clutch automatic transmission system is used for automotive applications.
• DCT offers improved performance, efficiency, and driving comfort. Even so, consistent R&D efforts on automatic transmission have led to the development of the triple-clutch automatic transmission. 
• Prominent automakers, along with Tier-1 suppliers, are working on making the triple-clutch transmission system commercially viable.
• The triple-clutch automatic transmission system involves advanced software, machinery, and designing an algorithm that can keep the engines revving at maximum efficiency and results in minimum wastage.
• Newer commercial vehicle models are expected to be equipped with TCT, which will enhance the adoption of such effective drivetrains in the mass commercial vehicle segment of the global automotive industry.

Key Truck Clutch Market Challenge

• The technological constraints resulting in vehicle recalls will be a major challenge for the truck clutch market during the forecast period.
• The integration of automatic transmission systems in trucks involves advanced algorithms that contribute to the design and development of such complex systems.
• The use of multiple clutches, synchromesh gear sets, and lightweight yet rigid materials have added to the cost and complexity of truck transmission systems. These developments have enhanced the drivability factor of trucks, but they have also raised concerns in terms of the vulnerability of such transmission systems.
• Trucks sold in developed automotive markets such as the US use advanced electronics and sensors that aid precision-based gear shifting. Therefore, any issue or malfunction of even a single transmission system component can lead to high repair costs and even vehicle recalls.
• Since the average cost of automated transmissions falls in the $2,500-$4,000 range for the automaker, their R and D, production, maintenance, and high repair costs are add-on expenses, which make a significant negative impact on the financial stability of involved parties and limit the scope of growth for the market in focus.

This truck clutch market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global truck clutch market as a part of the global auto parts and equipment market within the global auto components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the truck clutch market during the forecast period.

Who are the Major Truck Clutch Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• AB SKF
• BorgWarner Inc.
• Eaton Corp. Plc
• EXEDY Corp.
• H.R. Clutch
• Phoenix Friction Products
• Schaeffler AG
• Setco Automotive Ltd.
• The Gear Centre Group
• Tremec
• Valeo SA
• Wuhu Hefeng clutch Co. Ltd.
• ZF Friedrichshafen AG

 

This statistical study of the truck clutch market encompasses successful business strategies deployed by the key vendors. The truck clutch market is concentrated and the vendors are deploying growth strategies such as acquisitions and strategic alliances by leveraging their technological capabilities to compete in the market.

Product Insights and News

• AB SKF - AB SKF is a public company headquartered in Sweden. It is a global company generating $9,129.46 million in revenues and has around 42,602 employees. Its revenue from the global truck clutch market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. 
• 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. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The truck clutch market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Truck Clutch Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the truck clutch market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Truck Clutch Market?

For more insights on the market share of various regions Request for a FREE sample now!

55% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for truck clutch in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The improved and stabilized socioeconomic conditions of countries across APAC have helped the region to become the fastest-growing market for the automotive industry. China, Japan, and Australia are the major contributors to the truck clutch market in APAC. This will facilitate the truck clutch market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic had a negative impact on the regional truck clutch market. The governments of countries such as China, Japan, South Korea, and India imposed COVID-19-related restrictions and nationwide lockdowns to curb the spread of the disease. The regional automotive industry witnessed a slowdown, and the number of new commercial vehicle registrations declined. However, the automotive industry in the region witnessed signs of recovery in June 2020. The growth can be attributed to the growing housing market in China and the popularity of pickup trucks among consumers. Such factors have continued to drive the demand for truck clutches in the region.

What are the Revenue-generating Application Segments in the Truck Clutch Market?

To gain further insights on the market contribution of various segments Request for a FREE sample

The truck clutch market share growth by the light-duty trucks segment will be significant during the forecast period. The increasing demand for light-duty trucks has seen strong collaboration between component manufacturers and commercial vehicle OEMs. The business has grown significantly in terms of launches of new models of light-duty trucks and more adoption of light-duty trucks as the preferred mode of transport by several industries. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the truck clutch market size and actionable market insights on post COVID-19 impact on each segment.

 

Truck Clutch Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 6.5%
Market growth 2022-2026	$ 5.40 billion
Market structure	Concentrated
YoY growth (%)	5.42
Regional analysis	APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution	APAC at 55%
Key consumer countries	US, China, India, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	AB SKF, BorgWarner Inc., Eaton Corp. Plc, EXEDY Corp., H.R. Clutch, Phoenix Friction Products, Schaeffler AG, Setco Automotive Ltd., The Gear Centre Group, Tremec, Valeo SA, Wuhu Hefeng clutch Co. Ltd., and ZF Friedrichshafen AG
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.

Request for a FREE sample

What are the Key Data Covered in this Truck Clutch Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive truck clutch market growth during the next five years
• Precise estimation of the truck clutch market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the truck clutch industry across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of truck clutch market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch