Market Trends of Automotive Clutch Industry
This section covers the major market trends shaping the Automotive Clutch Market according to our research experts:
Increasing Adoption of Battery Electric Vehicles is Anticipated to Restrain the Growth
The automotive industry is experiencing a shift from conventional fuel vehicles to electric vehicles. Battery electric vehicles (BEVs) are not equipped with transmission systems. The electric motors in battery electric vehicles (BEVs) have a flat power curve, i.e., they can run efficiently at any rpm, thereby eliminating the need to shift gears.
The growth of the global EV market has been due to their relatively low maintenance cost and growing environmental concerns. It is also fuelled by the shift toward sustainable transportation, which is expected to help reduce fossil fuel dependency. The demand for EVs is ever increasing in countries like Japan and China, which are two of the biggest automotive hubs in the Asia-Pacific.
Reduction in the growth of the automotive clutch market can also be anticipated in North America and Europe, owing to the aforementioned factors related to EVs. In addition to the standard-bearing Tesla manufacturing electric vehicle, subsidies offered by governments is helping many other automotive companies to ramp up their electric vehicle portfolio.
The Asia-Pacific Region is Estimated to Grow Significantly During Forecast Period
Asia-Pacific is expected to dominate the car frequency friction market over the forecast time period owing to the bulk of car sales in the region and technical developments, such as dual-clutch transmission systems and automatic and manual transmission systems. Throughout emerging economies such as China and India, the rise of the automobile manufacturing industry is pushing the car bottleneck market. Other factors such as the introduction of cheaper manual transmission clutches and customer preference for a comfortable mode of transmission also contribute to the market growth.
Factors such as increasing market penetration of premium cars and deployment of convenient powertrain systems in vehicles are accelerating the demand for the automotive clutch market. China is expected to overtake the United States as the world's largest market for premium passenger cars, creating a huge potential for the growth of the automotive clutch market.
Moreover, the North American region also represents a modest share of sales in the world economy and is predicted to rise steadily over the expected period. This is attributed largely to increased car purchasing in the United States and Canada. Owing to the presence in Europe of a growing number of car manufacturers, the automotive clutch market is projected to rise more rapidly over the forecast period.
