The new report by Expert Market Research titled, ‘Global Automotive Clutch Market Price, Report and Forecast 2023-2028’, gives an in-depth analysis of the global automotive clutch market, assessing the market based on its segments like applications, manufacturing process and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 10.4 billion
- Forecast CAGR (2023-2028): 6%
- Forecast Market Size (2028): USD 15 billion
The global automotive clutch market is projected to expand significantly over the forecast period owing to advances in automobile technology and the demand for electric cars. The global industry is expected to benefit from the rising trend and evolving customer demand for manual to semi-automatic or fully automatic transmission systems. Furthermore, rising customer disposable income has fueled car purchases and is projected to accelerate demand in the automobile industry.
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The availability of improved clutches, such as the Dual Clutch Transmission (DCT) system, further aids the growth of the industry. Original equipment manufacturers (OEMs) are expanding their manufacturing capacities by implementing advanced technologies to satisfy customer demand, which further aiding the growth of the market. The automated clutch market is expected to achieve the highest growth rate due to the rising demand from emerging economies.
Industry Definition and Major Segments
The clutch is a vehicle component that links two or more spinning shafts. The clutch in a transmission car governs the linkage between the engine shaft and the shafts that drive the wheels. Clutches require a mode of actuation to sever the transfer of torque. It is an essential aspect of the car’s operating machinery because the motor produces electricity and has components that rotate continuously, but the wheels do not. The role and purpose of a clutch are to transfer torque from a spinning driving motor to the transmission.
By vehicle type, the market is divided into:
- Passenger Vehicles
- Commercial Vehicles
By transmission type, the market is divided into:
- Manual Transmission
- Automatic Transmission
- Automated Manual Transmission (AMT)
- Others
By Clutch type, the market is divided into:
- Friction Clutch
- Dog Clutch
- Hydraulic Clutch
- Others
Based on clutch disk/plate size, the industry can be segmented into:
- Below 9 Inches
- 9 Inches to 10 Inches
- 10 Inches to 11 Inches
- 11 Inches and Above
- Others
By distribution channel, the market is categorised into:
- Aftermarket
- OEM
By Clutch type, the market is divided into:
- Ceramic
- Organic
- Others
By region, the industry is categorised into:
- North America
- Europe
- The Asia Pacific
- Latin America
- The Middle East and Africa
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Market Trends
There is an increasing need for high-performance systems in the motorsport industry to provide total power density, boosting the market growth for automotive clutch market. Though, the latest outbreak of COVID-19 will limit the growth of the automotive transmission industry. Lockdowns in major economies culminated in closing industrial plants and a halt in the production and import of car products. Furthermore, the poor fuel efficiency of vehicles with automated clutch systems is expected to hinder the growth of the industry slightly. The demand is also projected to be driven by the availability of low-cost manual transmission clutches versus torque converters with automatic transmission. Customer preference for more convenient modes of travel and the demand for passenger cars in developing markets are projected to boost consumer demand over the forecast period.
North America is projected to be the most dominant regional automotive clutch market over the forecast period owing to the rising demand for electric cars. Furthermore, over the projected period, strong vehicle demand in emerging economies such as China and India are expected to fuel growth across the Asia Pacific market. Electric vehicle demand is growing in Asia-Pacific countries such as Japan and China, two of the region’s largest automotive hubs. The Indian automotive clutch market is expected to rise due to improving economic conditions in the country, increasing disposable income, and a preference for automatic transmissions, especially AMT technology. Further pushing the market would be stricter emission norms and fuel-efficiency requirements in Bharat Stage VI, which will see lighter and more fuel-efficient clutch models produced. The clutch market in Mexico is expected to rise in response to increasing domestic demand for personal vehicles. Due to difficult economic conditions, Latin America is projected to have a low growth rate; however, Brazil is expected to be an increasing potential market.
Key Market Players
The major players in the market are Magneti Marelli, Schaeffler Grou, ZF Friedrichshafen, Aisin Seiki, Valeo, BorgWarner, among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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