Industry Overview
In its research report, Market Research Future (MRFR), emphasizes that over the review period, the Global Automotive Flywheel Market 2020 is projected to rise exponentially, securing a significant market valuation and a healthy CAGR.
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Drivers and Restraints
The Global Flywheel Market for automobiles has experienced remarkable growth. In the last few years, increasing vehicle demand globally has significantly boosted the flywheel market. Demand for commercial vehicles is driven extensively by rising industrialization and service sectors. The expansion of the Automotive Flywheel Market Size is responsible for increasing demand for different factors such as aesthetics safety, comfort, and continuous improvement in technology. The manufacturers have developed various technologies for enhancing the comfort factors, i.e. reducing the vibration generated inside the transmission assembly. In addition, a rise in vehicle production and sales raises the need for flywheel adoption in many applications.
Growing penetration of semi-automatic transmission systems globally, such as AMT (Automated Manual Transmission) and DCT (Dual Clutch Transmission in the segments of commercial and passenger vehicles, is likely to drive the flywheel market during the forecast period. Rising customer preference for comfort in the automotive sector is due to increased purchasing power of people. Technological innovation such as weight reduction by the use of multiple materials would be an significant factor driving the demand for flywheels. However, rising electric vehicle adoption restrains global market growth.
Segmental Analysis
The global Automotive Flywheel Market Share is segmented based on the transmission, type, material, sales channel and region. Based on the material, the market has been segmented into maraging steel, cast iron, and aluminum alloys. Based on the type, the market has been bifurcated into single mass flywheel and dual mass flywheel. Based on the transmission, the market has been segmented into semi-automatic transmission, manual transmission, and automatic transmission . Based on the vehicle type, the market has been segmented into light commercial vehicles, passenger vehicles, and heavy commercial vehicle. Based on the sales channel, the market has been divided into OEM and Aftermarket.
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Regional research
The global business regional overview was performed in four major regions namely Asia Pacific, North America , Europe and the rest of the world.
Asia Pacific is expected to capture the largest Automotive Flywheel Market share of sales among all countries, and is estimated to lead over the forecast period. Due to the involvement of nations such as Japan, China and India, where vehicle sales have risen as a result of increased urbanization and rising car purchases, the flywheel demand in this area has also been further affected. Constant technological advancement to lessen the weight of flywheels will further assist in the expansion of the APAC market. It is projected that the European market is driven by customer preference for the car flywheel market. The North American market is slated to gain the second-highest market share of sales and continue to prosper throughout the review era.
Competitive Analysis
The Automotive Flywheel Market players operating in the global market as identified by MRFR are AISIN SEIKI Co., Ltd (Japan), Schaeffler AG (Germany), American Axle Manufacturing, Inc. (US), Linamar Corportation (Canada), Valeo SA (France), ZF Friedrichshafen AG (Germany), Ford Motor Company (US), LUTHRA INDUSTRIAL CORP (India), Skyway Precision, Inc. (US), and Iljin (Korea). There is fierce competition among the flywheel manufacturers, which plays an important role in the expansion of the flywheel market as manufacturers are constantly paying attention to evolving different characteristics to make their products unique and match the automotive manufacturers' weight, transmission and speed requirements.
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