The North America Automotive Flywheel Market would witness market growth of 3.5% CAGR during the forecast period (2023-2030).
The primary drivers of the market's development include the expansion of dual-clutch transmission (DCT) and continuous variable transmission (CVT) use, rising automobile production & sales, and increasing demand for commercial vehicles. In addition, the development of lightweight vehicle components to increase fuel efficiency, ongoing advances in technology, and a boom in electric vehicle manufacturing are other factors anticipated to present the potential for expansion for the market throughout the forecast period.
The demand for fuel-efficient vehicles has grown even more as gasoline costs around the region have risen. Using lightweight materials like aluminium parts and plastic casing, automobile manufacturers have decreased the weight of vehicle components, including engine components like flywheels and parts of transmission systems. Heavy steel automobile parts can be replaced by lighter ones made of high-strength steel, aluminium, or glass fibre-reinforced polymer composites, significantly reducing the vehicle's weight. As a result, there is a growing need for more lightweight automotive flywheel systems.
One of the world's biggest automobile marketplaces is in the United States. As per the International Trade Association, 14.5 million light vehicles were sold in the United States in 2020. Numerous manufacturers also have U.S.-based engine and transmission factories and carry out R&D, design, and testing in addition to their auto assembly facilities. In 2019, the U.S. automobile sector received $143.3 billion in foreign direct investment. In addition, vehicles made in Mexico are exported in 90 percent of cases, with 76 percent going to the United States. These factors have led to steady growth in the region's automotive industry and a consequent increase in the demand for the market.
The US market dominated the North America Automotive Flywheel Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,820.6 Million by 2030. The Canada market is poised to grow at a CAGR of 5.8% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 4.9% during (2023 - 2030).
Based on Type, the market is segmented into Single Mass and Dual Mass. Based on Transmission Type, the market is segmented into Manual Transmission, Semi-Automatic & Automatic Transmission and Continuously Variable Transmission. Based on Distribution Channel, the market is segmented into OEM and Aftermarket. Based on Vehicle Type, the market is segmented into Passenger Vehicle and Commercial Vehicle. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Automotive Flywheel Market is Projected to reach USD 9.5 Billion by 2030, at a CAGR of 3.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ford Motor Company, Schaeffler AG, Valeo SA, ZF Friedrichshafen AG, Aisin Corporation (Toyota Motor Corporation), EXEDY Globalparts Corporation (EXEDY Corporation), AMS Automotive LLC, Pioneer Automotive Industries LLC (Lodi Group), Skyway Precision, Inc. and SPEC Clutch, Inc.
By Type
By Transmission Type
By Distribution Channel
By Vehicle Type
By Country
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