Portland, OR, May 29, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Automotive Flywheel Market by Type (Single Mass and Dual Mass), Transmission Type (Manual, Semi-automatic and Automatic, and CVT), Vehicle Type (Passenger Vehicle and Commercial Vehicle), and Distribution Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the global automotive flywheel market generated $7.4 billion in 2022, and is anticipated to generate $10.7 billion by 2032, witnessing a CAGR of 3.8% from 2023 to 2032.
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Prime determinants of growth
The global automotive flywheel market is driven by factors such as growth in penetration of dual-clutch transmission (DCT) and continuous variable transmission (CVT), increased manufacturing and sales of cars, and an increase in demand for commercial vehicles However, the increase in the adoption of electric vehicles and the rise in the trend for repair rather than replacing the flywheel are the factors are expected to hamper the growth of the automotive flywheel market. In addition, continuous technological improvements and a surge in the electric vehicle business across the globe, and the development of lightweight vehicle components to enhance fuel efficiency are expected to offer remunerative opportunities for expansion of the automotive flywheel market during the forecast period.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $7.4 billion |
| Market Size in 2032 | $10.7 billion |
| CAGR | 3.8% |
| No. of Pages in Report | 296 |
| Segments covered | Type, Transmission Type, Vehicle Type, Distribution Channel, and Region. |
| Drivers | Growth in penetration of dual-clutch transmission (DCT) and continuous variable transmission (CVT) Increased manufacturing and sales of cars Increase in demand for commercial vehicles |
| Opportunities | Continuous technological improvements Development of lightweight vehicle components to enhance fuel efficiency |
| Restraints | Increase in the adoption of electric vehicles. Rise in the trend for repair rather than replacing the flywheel |
Covid-19 Scenario
- The outbreak of the COVID-19 pandemic had a negative impact on the global automotive flywheel market due to factors such as lockdowns, travel restrictions, and quarantines, which caused a significant slowdown in the automotive industry and manufacturing of automotive components globally.
- Moreover, due to the worldwide economic crisis and supply chain disruption brought on by the pandemic, the automotive flywheel industry experienced a number of difficulties. There was a significant drop in consumer demand for new cars because of the lockdowns and travel restrictions implemented by many nations to stop the virus's spread. As a result, many automakers folded in order to halt or scale back production, which decreased demand for flywheels.
- In addition, the pandemic compelled a lot of automakers to halt or reduce their manufacturing lines, which decreased demand for vehicle parts including flywheels. Many flywheel manufacturers experienced a reduction in sales as a result, which compelled some of them to review their business models and explore new markets or product lines.
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The single mass segment to maintain its lead position during the forecast period.
Based on type, the single mass segment held the highest market share in 2022, accounting for more than three-fifths of the global automotive market, and is estimated to maintain its leadership status throughout the forecast period. e This is due to the fact that a single-mass flywheels are less expensive to purchase and enable faster engine revving, they are appropriate for situations where there are frequent changes in engine speed and gear. This leads to the growth of the segment in the global market. However, the dual mass segment is projected to manifest the highest CAGR of 4.2% from 2023 to 2032. This is because dual-mass flywheels increase fuel efficiency. Hence, they widely utilized in commercial vehicles, notably those with diesel engines and manual transmissions. An increase in the penetration of commercial vehicles is anticipated to drive the growth of the dual-mass flywheel market.
The manual transmission segment to maintain its leadership status throughout the forecast period.
By transmission type, the manual transmission segment accounted for the largest share in 2022, contributing to nearly half of the global automotive flywheel market revenue. Manual transmissions are generally less expensive than automatic transmissions, making them a more affordable option for budget-conscious consumers. Manual transmissions typically have better fuel efficiency than automatic transmissions, as they allow for more precise control over the engine’s power output. However, the continuously variable transmission segment is expected to portray the largest CAGR of 4.4% from 2023 to 2032. The increasing adoption of hybrid vehicles, which often use CVT transmission due to their ability to provide smooth and effective action power transfer. The growth in these alternative powertrain vehicles has led to increasing demand for CVT transmissions, thereby boosting the flywheel market in the continuously variable transmission segment.
Asia-Pacific to maintain its dominance by 2032.
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global automotive flywheel market revenue, and is expected to witness the fastest CAGR of 4.3% from 2022 to 2032. The growth of the regional market is mainly attributed to the growth in the automotive industry and retail sectors. In addition, owing to a significant rise in per capita income and rapid urbanization in the region is driving the growth of the automotive flywheel market in Asia-Pacific.
Leading Market Players: -
- AISIN CORPORATION
- AMS Automotive
- EXEDY Globalparts Corp.
- Ford Motor Company
- Pioneer Automotive Industries
- Schaeffler Technologies AG & Co. KG
- Skyway Precision Inc.
- SPEC Clutch, Inc.
- VALEO SERVICE
- ZF Friedrichshafen AG.
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The report provides a detailed analysis of these key players in the global automotive flywheel market. These players have adopted different strategies such as new product launches, expansions, product developments, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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