Automotive Clutch Market Current Trends, SWOT Analysis, Strategies, Industry Challenges
The global automotive clutch market size is projected to reach USD 16 billion by 2027, according to the latest report by Market Research Future (MRFR). It can expand at 5% CAGR from 2020 to 2027. MRFR’s report on the automotive clutch market comprises growth and revenue projections for the forecast period (2020-2027). The COVID-19 pandemic and its implications are explored in depth in the market report.
Market Scope
The global automotive clutch market is driven by inclination towards automatic and semi-automatic vehicles as well as plans for vehicle electrification. OEMs are expanding production of clutches by establishing new facilities to cater to growing demand of automobiles. Shift towards fuel efficient systems owing to environment-friendly regulations and technological advances in battery electric vehicle can bode well for the market.
Battery electric vehicles are deemed to garner interest in the automotive clutch market. Low maintenance costs and encouragement given to fuel economy as well as subsidies by governments can propel market growth. Launch of premium cars and focus on comfort of the driver will be lucrative for the market in the coming years. This is evident by large number of car sales in the U.S. and Canada.
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But the replacement of manual clutches can pose a challenge to the market.
COVID-19 Impact
The COVID-19 pandemic has negatively impacted the automotive clutch market owing to production facilities being shut down. Relaxation of restrictions has favored the industry as automobile companies resumed production. Huge demand for electric vehicles is likely to create opportunities in the coming years.
Segmentation
BFSI Vertical to Dominate Market Demand
By clutch type, the market is segmented into hydraulic clutch, dog clutch, friction clutch, and other. A dog clutch couples two shafts in order to transmit motion. One part having teeth engages with slots in another. In a friction clutch, the drive is transmitted by the friction between surfaces attached to the driving and driven shafts.
Automated Transmission Systems to Dominate Market Share
By transmission type, the market has been divided into automated and manual. Automated transmission systems are likely to gain a large market share due to advances in automation. Launch of dual clutch and hybrid dual clutch transmission systems for latest vehicles can drive the segment growth.
Commercial Vehicles to Lead in Automotive Clutch Market
Based on vehicle type, the market has been bifurcated into the commercial vehicle and passenger car. Commercial vehicles are likely to capture market share as logistic companies aim to expand their fleets. This is evident by launch of concentric pneumatic clutch actuators by the Eaton Group for spring clutches.
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Regional Analysis
APAC to Capture Major Market Share
Asia-Pacific is expected to capture a large market share owing to technological breakthroughs in dual clutch transmission systems and sales of automobiles. Investments in developing economies of India and China by leading manufacturers to offset prices of products as well as inclination towards electric vehicles can drive the market demand.
Competitive Analysis
Valeo, Aisin Seiki, EXEDY, BorgWarner Clutch Auto Limited, Schaeffer, Eaton Corporation, Magneti Marelli, FCC, ZF Friedrichshafen, and others are key players in the global automotive clutch market. Acquisitions and mergers are to be witnessed in the market as automotive companies look to consolidate the industry.
Industry News
Great Walls Motor (GWM) Company Limited has developed a 9-speed dual clutch transmission for electric vehicles.
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