Published Date: 30-Jun-2023
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According to a new report, published by KBV research, The Global Automotive Flywheel Market size is expected to reach $9.5 billion by 2030, rising at a market growth of 3.7% CAGR during the forecast period.
The Dual Mass segment is showcasing a CAGR of 4.3% during (2023 - 2030). Dual-mass flywheels improve fuel efficiency by using engine power more effectively and efficiently. They are mainly used in commercial vehicles because of this, especially ones with diesel engines and manual transmissions. Therefore, the demand for dual-mass flywheels is expected to rise as commercial vehicles become more prevalent.
The Manual Transmission segment is leading the Global Automotive Flywheel Market by Transmission Type in 2022 thereby, achieving a market value of $4.7 billion by 2030. Manual transmissions are usually less costly than automatic transmissions, making them a more cost-effective choice for those with a tight budget. Manual transmissions often improve fuel efficiency by enabling more precise control over the engine's power output than automated transmissions. Since a manual transmission gives the driver more control over the vehicle's acceleration and braking, many car enthusiasts enjoy the driving experience it provides.
The Aftermarket segment has shown the growth rate of 5.3% during (2023 - 2030). The aftermarket supplier replaces obsolete parts in existing automobiles or fixes a broken portion of a vehicle. As a result, buyers increasingly turn to the aftermarket to replace automobile parts because they want to upgrade their vehicles with cutting-edge components to improve driving safety and experience. As a result, this segment's market is expanding due to these reasons.
The Passenger Vehicle segment is generating the highest revenue share in the Global Automotive Flywheel Market by Vehicle Type in 2022 thereby, achieving a market value of $6.5 billion by 2030. Governments of various nations are supporting the production and sales of EVs. Also, because of their additional benefits, consumers prefer buying EVs. The growing acceptance and popularity of electric vehicles have spurred the need for automotive flywheel in passenger vehicles segment.
The Asia Pacific market dominated the Global Automotive Flywheel Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3.7 billion by 2030. The Europe market is exhibiting a CAGR of 3% during (2023 - 2030). Additionally, The North America market would showcase a CAGR of 3.5% during (2023 - 2030).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Transmission Type
By Distribution Channel
By Vehicle Type
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