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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.
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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
Key Truck Clutch Market Trend
Key Truck Clutch Market Challenge
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.
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.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
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.
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.
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.
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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.
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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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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