Automotive Clutch Plate Market Size 2028: Projected Growth and Opportunities | Techsci Research

According to TechSci Research report, “Automotive Clutch Plate Market- Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F,” the global automotive clutch plate market is anticipated to witness a growth rate of 6.24% to reach USD7,708.45 million by 2028. A clutch is a mechanical device that disconnects the output shaft from the revolving input shaft. The clutch provides a mechanical linkage between the engine and transmission in a vehicle. Its objective is to keep a smooth ride for the driver by preventing the buildup of gear-to-gear friction. The automotive clutch includes the flywheel, clutch disc, pilot bushing, crankshaft, throw-out bearing, and pressure plate. There are four types of clutches, including dry clutches, wet clutches, centrifugal clutches, and cone clutches. Clutches are utilized in both automatic and manual transmission vehicles.

The number of vehicles produced worldwide in 2021 reached 80.5 million, an increase of 3.39% over 2020. Automobile sales are being driven in many regions amid rising consumer spending power and rising customer preference towards owning a private vehicle. Additionally, production of commercial vehicles increased by 6.80% in 2021 over 2020. Furthermore, the United States had seen a 3.92% growth in vehicle manufacturing, bringing the total to almost 9.2 million units. Even though the lockdown was prolonged in China in 2021, automobile production rose by 3.40% that year. The growing e-commerce sector, as well as the expansion of the building and mining sectors and other significant industries, also contribute to the increasing demand for commercial vehicles. To meet the expanding needs of consumers, commercial vehicles are being sold exponentially worldwide. Owing to above factors, the global automotive clutch plate market is anticipated to expand in the coming years.

Many market players are investing in research and development activities to explore innovative solutions and enhance current infrastructure for better performing and advanced clutches in automobiles. The demand for automatic transmissions in vehicles is constantly increasing because of more comfort, convenience, and simple to drive vehicle in congested areas. This creates a significant market opportunity for automobile clutch plates worldwide.

The Asia-Pacific region leads the global automotive clutch plate market, followed by North America and Europe & CIS, with the highest number of motor vehicles on the road. Due to its massive vehicle fleet and production capacity, China is expected to maintain its market dominance during the forecast period. Additionally, the increasing use of cutting-edge technology like dual-clutch transmissions (DCT) is significantly boosting this market's growth on a global scale.

On the basis of vehicle type, passenger car segment dominates the market with majority of share followed by LCV segment and M&HCV segment. Based on type, less than 9 inches and 9.1 to 10 inches segment together captures more than 70% of total market share in 2022. Based on demand category, due to increasing demand for used car market aftermarket segment dominates the overall global automotive clutch plate market.

Browse more than 173 market data Figures spread through 219 Pages and an in-depth TOC on "Automotive clutch plate market" - https://www.techsciresearch.com/report/automotive-clutch-plate-market/8276.html

The global automotive clutch plate market can be segmented by vehicle type, demand category, type, regional distribution, and company. Based on the vehicle type, the global automotive clutch plate market is divided into passenger car, LCV and M&HCV. Based on the demand category, the global automotive clutch plate market is divided into OEM and aftermarket. Based on type, the global automotive clutch plate market is divided into less than 9 inches, 9.1 to 10 inches, 10.1 to 11 inches, and more than 11 inches. Based on regional analysis, the global automotive clutch plate market is divided into North America, Asia-Pacific, Europe & CIS, South America, Middle East, and Africa.

Some of the major companies operating in the global automotive clutch plate market include:

• ZF Friedrichshafen AG
• BorgWarner Inc
• Valeo S.A
• Eaton Corporation Plc
• FCC Co. Ltd
• Schaeffler AG
• JATCO Ltd
• EXEDY Corporation
• NSK Ltd
• Aisin Corporation

These are the key players developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers with tech firms, new product developments, and marketing activities to increase customer outreach.

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“The Asia-Pacific region had seen the highest volume of motor vehicle sales, propelling it to lead the global automotive clutch plate market followed by North America and Europe & CIS. With the innovation in the technology new type of material and product are being introduced in the market, thus opening a huge potential for the global automotive clutch plate market. ” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Automotive Clutch Plate Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Vehicle Type (Passenger Car, LCV, M&HCV), By Demand Category (OEM, Aftermarket), By Type (Less than 9 inches, 9.1 to 10 inches, 10.1 to 11 inches, More than 11 inches), and By Region,” has evaluated the future growth potential of global automotive clutch plate market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Automotive Clutch Plate Market.

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