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Global Automotive Clutch Market to Reach 14.1 Billion by 2024, Spurred by Thriving Automobile Industry

According to the latest report by IMARC Group, titled “Automotive Clutch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global automotive clutch market size reached US$ US$ 9.8 Billion in 2018. An automotive clutch is a device that is utilized for the engagement and disengagement of power transmission from the driving shaft to the driven shaft. The function of the clutch is to connect the two rotating shafts present in vehicles, lock them together and spin at the same speed or to decouple them and spin at different speeds. The manufacturing of a clutch requires the use of numerous friction materials, which offer strength and resistance while ensuring a smooth engagement of gears. Some of the major components present in the assembly of the device are clutch disc, flywheel, and pressure plate and release system. Automotive clutches are crucial in preventing transmission overload and significantly reduce the impact of torsional vibration in an automobile, thereby offering an overall smooth experience to the drivers.

Global Automotive Clutch Market

Global Automotive Clutch Market Trends:

The market is primarily driven by the thriving automotive industry. Rapid urbanization, improving living standards and the inflating purchasing power of consumers have resulted in the bourgeoning sales of automobiles. Since automotive clutches form an indispensable part of automobiles’ mechanisms, significant growth in the industry is consequently providing an impetus to the market growth.  Moreover, the growing preference for electric vehicles (EVs) and semi-automatic or fully automatic transmission systems in automobiles is expected to create a positive outlook for the market. Furthermore, enhanced research and development (R&D) activities by the manufacturers to improve the efficiency of the advanced models are expected to impact the market favorably. For instance, dual-clutch transmission is gaining widespread preference as it enables quicker and smoother gear transition. On account of the aforementioned factors, the market is expected to reach a value of US$ 14.1 Billion by 2024, growing at a CAGR of 6.3% during 2019-2024.

Market Summary:

  • On the basis of the vehicle type, the market has been bifurcated into passenger and commercial vehicles.
  • Based on the transmission type, the market has been categorized into manual transmission, automatic transmission, automated manual transmission (AMT) and others.
  • On the basis of the clutch type, the market has been divided into friction, dog, hydraulic and other types of clutches.
  • Based on the clutch disk/plate size, the market has been classified into below 9 inches, 9 inches to 10 inches, 10 inches to 11 inches and 11 inches and above.
  • On the basis of the distribution channel, the market has been bifurcated into aftermarket and original equipment manufacturer (OEM).
  • Based on the material type, the market has been categorized into ceramic, organic and others.
  • On the basis of the region, the market has been segregated into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has also been examined with the detailed profiles of the key players. Some of the major players operating in the market include 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., and FTE automotive GmbH.

 

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