Pune, India., Dec. 12, 2023 (GLOBE NEWSWIRE) -- The global clutch friction plate market size was valued at USD 11.69 billion in 2022. The industry is expected to expand from USD 12.59 billion in 2023 to USD 24.63 billion by 2030, exhibiting a CAGR of 10.06% over the study period.
The expansion can be credited to the deployment of advanced transmission technologies such as continuously variable transmission (CVTs) or dual-clutch transmission (DCTs). Moreover, integrating these technologies with advanced clutch friction plates can help reduce energy losses, improve overall efficiency, and quick and smooth gear change.
Drivers & Restraints-
Surging Deployment of Electronic Clutch Control Solutions to Fuel Market Growth
An increase in the usage of electronic clutch control systems drives the clutch friction plate market growth. Parameters such as vehicle speed, road conditions, throttle position, and engine speed can be monitored with the help of electronic clutch systems that use sensors.
Despite an expanding scope for the adoption of the product, problems such as overheating and thermal degradation may hinder market growth.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023 to 2030 CAGR | 10.06% |
| 2030 Value Projection | USD 24.63 Billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 12.59 Billion |
| Historical Data for | 2019-2021 |
| No. of Pages | 200 |
Competitive Landscape-
Notable Companies Deploy Mergers and Acquisition Strategies to Gain Competitive Edge
The major players operating in the clutch friction plate market focus on key strategies such as product innovations, partnerships, and joint ventures. Moreover, several market players are increasingly deploying mergers and acquisition strategies to enhance their position.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/clutch-friction-plate-market-108587
Segments-
Wet Friction Plate Segment Helms Owing to its Several Advantages Offered
In terms of product type, the market is divided into dry friction plate and wet friction plate. The wet friction plate segment dominates the market and is anticipated to lead during the projected period. Numerous advantages and superior performance offered by wet friction plate after their immersion in specialized fuels drive market growth.
Aftermarket Segment Steers due to Enhanced Durability of Aftermarket Clutch Friction Plates
In terms of sales channel type, the market is categorized into aftermarket and OEM. The aftermarket segment is expected to dominate the market during the forecast period. The aftermarket clutch friction plates can be used in vehicles meant for specific applications, such as racing or modified vehicles, owing to their faster engagement, enhanced durability, and higher torque capacity than stock parts, bolstering segment growth.
Passenger Cars Segment Dominates due to Rising Commercial Deployment of Passenger Cars
With respect to vehicle type, the market is classified into commercial vehicles and passenger cars. The passenger cars segment holds the dominating position in the market. The growing commercial usage of passenger cars as taxis is bolstering the segment's growth.
Based on region, the market is classified into Europe, the Asia Pacific, North America, and the rest of the world.
| Segmentation | By Product Type
|
By Sales Channel Type
| |
By Vehicle Type
|
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Regional Insights-
Asia Pacific to Emerge as a Prominent Growth Hub due to Growing Penetration of High-end Cars
Asia Pacific clutch friction plate market dominated and was valued at USD 5.49 billion in 2022. The region is expected to hold its dominating position during the forecast period. The rising market penetration of high-end cars and growing foreign direct investment are anticipated to further drive regional expansion.
North America has the second-leading position in the market. The region’s growth is attributed to the increasing development of materials and novel technologies.
Report Coverage:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
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A list of prominent Clutch Friction Plate manufacturers operating in the global market:
- ZF Friedrichshafen AG (Germany)
- BorgWarner Inc. (U.S.)
- Valeo S.A. (France)
- Eaton Corporation Plc (Ireland)
- Schaeffler AG (Germany)
- NSK Ltd. (Japan)
- Aisin Seiki Co. Ltd. (Japan)
- Carlisle Industrial Brake & Friction (U.S.)
- FCC Co. Ltd. (Japan)
- ProTec Friction Group (U.S.)
COVID-19 Impact:
Fall in Auto Sales Impeded Market Growth Temporarily amid Pandemic
The pandemic and its social distancing regulations dropped auto sales in the second half of 2020. In addition, the pandemic observed a reduction in car needs owing to unemployment, lockdowns, and increased inclination of people toward saving, which led to a decline in consumer purchasing power. Despite this, mass vaccination programs were organized by several economies across the globe, which led to a surge in demand in the automotive market. Thus, the COVID-19 pandemic temporarily hampered market growth.
Notable Industry Development:
- May 2020 - ZF Friedrichshafen AG announced the acquisition of WABCO Holdings Inc. This deal helped customers benefit from an extensive product portfolio and advanced technology innovation.
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Porters Five Forces Analysis
- PEST Analysis
- Technological Development
- Impact of Covid-19
- Global Clutch Friction Plate Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Definitions
- Market Analysis, Insights and Forecast – By Product Type
- Dry Friction Plate
- Wet Friction Plate
- Market Analysis, Insights and Forecast – By Sales Channel Type
- OEM
- Aftermarket
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the world
- North America Clutch Friction Plate Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Product Type
- Dry Friction Plate
- Wet Friction Plate
- Market Analysis, Insights and Forecast – By Sales Channel Type
- OEM
- Aftermarket
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Analysis – By Country
- U.S.
- By Vehicle Type
- By Product Type
- By Sales Channel Type
- Canada
- By Vehicle Type
- By Product Type
- By Sales Channel Type
- Mexico
- By Vehicle Type
- By Product Type
- By Sales Channel Type
- U.S.
- Market Analysis, Insights and Forecast – By Product Type
- Europe Clutch Friction Plate Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Product Type
- Dry Friction Plate
- Wet Friction Plate
- Market Analysis, Insights and Forecast – By Sales Channel Type
- OEM
- Aftermarket
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Analysis – By Country
- The U.K
- By Vehicle Type
- By Product Type
- By Sales Channel Type
- Germany
- By Vehicle Type
- By Product Type
- By Sales Channel Type
- France
- By Vehicle Type
- By Product Type
- By Sales Channel Type
- Rest of Europe
- By Vehicle Type
- By Product Type
- By Sales Channel Type
- The U.K
- Market Analysis, Insights and Forecast – By Product Type
- Asia Pacific Clutch Friction Plate Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Product Type
- Dry Friction Plate
- Wet Friction Plate
- Market Analysis, Insights and Forecast – By Sales Channel Type
- OEM
- Aftermarket
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Analysis – By Country
- China
- By Vehicle Type
- By Product Type
- By Sales Channel Type
- India
- By Vehicle Type
- By Product Type
- By Sales Channel Type
- Japan
- By Vehicle Type
- By Product Type
- By Sales Channel Type
- South Korea
- By Vehicle Type
- By Product Type
- By Sales Channel Type
- Rest of Asia Pacific
- By Vehicle Type
- By Product Type
- By Sales Channel Type
- China
- Market Analysis, Insights and Forecast – By Product Type
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