Asia-Pacific is the leading automotive manufacturing region and has witnessed an increase in the adoption of low, mid, and high-end vehicles. Asia-Pacific is the most promising market for automotive flywheel manufacturers as most of the emerging countries such as China, India, and Japan are a part of this region. The increase in the number of automotive manufacturing plants and the rise in sales of automobiles have significantly contributed to the growth of the Asian market. Leading automobile manufacturers are working on the development of automotive low-weight flywheel systems to offer enhanced performance, better traction control, and higher safety of vehicles, which is anticipated to boost the growth of the automotive flywheel market in Asia-Pacific.
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.
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.
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The semi-automatic and automatic transmission provides a more convenient driving experience for consumers, as they eliminate the need for shifting gears manually. This convenience factor has led to an increase in demand for these types of transmissions, which is expected to drive the growth of the segment during the forecast period. In addition, many semi-automatic and automatic transmissions are designed to improve fuel efficiency, which is an important factor for consumers concerned about the environment and rise in fuel costs. In addition, advancements in transmission technology have led to improved performance and reliability of semi-automatic and automatic transmissions, making them more attractive to consumers.
Moreover, luxury vehicles often come equipped with semi-automatic or automatic transmissions, as they provide a smoother and more comfortable driving experience. The increase in demand for luxury vehicles has contributed to the growth of the semi-automatic and automatic transmission segment. With the rise in globalization of the automotive industry, the demand for semi-automatic and automatic transmissions has grown as these transmissions are more common in some parts of the world than other types of transmission. As the automaker seeks to compete in global markets, they may choose to offer their types of transmission to meet the demands of consumers in different regions. This factor is anticipated to fuel the growth of the market.
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.
Key players operating in the global automotive flywheel market are AISIN CORPORATION, EXEDY Globalparts Corp., Ford Motor Company, Pioneer Automotive Industries, Schaeffler Technologies AG & Co. KG, Skyway Precision Inc., SPEC Clutch, Inc., VALEO SERVICE, and ZF Friedrichshafen AG.
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