Global Automotive Clutch Market Set to Reach $19.9 Billion by 2032, Driven by Demand for Manual Transmissions and Stringent Emission Regulations
Dublin, April 26, 2024 (GLOBE NEWSWIRE) -- The "Automotive Clutch Market Report by Vehicle Type, Transmission Type, Clutch Type, Clutch Disk/Plate Size, Distribution Channel, Material Type, and Region 2024-2032" report has been added to * ResearchAndMarkets.com's* offering.
The global automotive clutch market has witnessed a substantial growth, reaching a valuation of $13.1 billion in 2023. With a forecasted Compound Annual Growth Rate (CAGR) of 4.8% over the period from 2023 to 2032, the market is poised to reach $19.9 billion. Fueling this growth are several key factors including the escalating demand for both passenger and commercial vehicles, the prevalent use of manual transmissions, and increasingly stringent emission and fuel economy standards globally.
Technological advancements have significantly contributed to market expansion, particularly with the development of dual-clutch transmissions (DCT) and automated manual transmissions (AMT). These novel solutions merge the benefits of both manual and automatic systems, enhancing performance and efficiency. Additionally, the segway into electric vehicles (EVs) has revealed new applications for clutches in powertrain systems, further stimulating market growth.
*Market Segmentation Insights*
The automotive clutch market exhibits a diverse range of segments, from vehicle and transmission types to clutch disk/plate sizes and materials. Passenger vehicles continue to reign as the dominant segment, primarily due to their widespread use and the escalating number of personal vehicles. In terms of transmission, manual variants hold a commanding market share, although alternative transmission types are rapidly advancing. Noteworthy too is the prevalence of friction clutches, which account for a significant market share. When segmented by distribution channel, it is observed that OEMs possess a larger market presence when compared to aftermarket sales.
*Market Dynamics*
Key market drivers include the persistent quest for enhanced fuel efficiency and reduced vehicle emissions. These factors have prompted innovations in clutch technologies that bolster fuel economy and comply with rigorous regulatory standards. As consumers and regulatory bodies increasingly prioritize environmental sustainability, automakers are responding by incorporating more efficient clutch systems in their designs.
*Regional Market Performance*
The Asia Pacific region stands out with the largest share of the global market, a status attributed to the rising disposable incomes, urbanization, and the growing demands for mobility in its populous nations. Moreover, considerable growth in the automotive sector across several Asian countries is reinforcing the region's market dominance.
*Competitive Landscape and Industry Developments*
The automotive clutch market is marked by healthy competition and constant innovation by key industry players. These companies are investing in research and development to refine the friction materials used in clutches, augmenting performance and extending their lifespan. Additionally, industry advancements such as self-adjusting clutch technologies and systems designed for hybrid and electric vehicles are examples of how the market continues to evolve.
*Conclusion*
In conclusion, the global automotive clutch market presents substantial growth prospects, driven by evolving vehicle technologies, an expanding automotive sector, and environmental compliance. Through continued innovation and adaptation to market demands, this sector shows strong potential for sustained expansion heading into the next decade.
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 140
Forecast Period 2023 - 2032
Estimated Market Value (US$) in 2023 US$13.1 Billion
Forecasted Market Value (US$) by 2032 US$19.9 Billion
Compound Annual Growth Rate 4.8%
Regions Covered Global
*Companies Featured*
· Aisin Seiki Co. Ltd.
· Magneti Marelli S.p.A.
· Schaeffler Group AG & Co. ZF Friedrichshafen AG
· BorgWarner Inc.
· Valeo
· Eaton Corporation Inc.
· WABCO Holdings Inc.
· EXEDY Corporation
· F.C.C. Co. Ltd.
· NSK Ltd.
· AMS Automotive LLC
· APLS Automotive Industries Pvt. Ltd.
· JATCO Ltd.
· Allison Transmission Inc.
· FTE automotive GmbH
For more information about this report visit https://www.researchandmarkets.com/r/4mb5yn
*About ResearchAndMarkets.com*
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*Attachment*
· Automotive Clutch Market
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