According to Market Research Future (MRFR), the global automotive flywheel market is expected to gain momentum in the upcoming years. It is poised, as per the report, to scale a decent CAGR over the forecast period 2018 to 2023. Flywheel plays a core application in the functioning of an automobile such as power transmission, heat sink for the dissipation of heat, noise reduction, etc. This, in turn, is expected to propel the expansion of the market over the next couple of years.
Rapid industrialization has led to a drastic rise in the demand for commercial vehicles. Similarly, urbanization has intensified the demand for passenger vehicles. Thus, rising demand for vehicles is likely to accelerate economic activities in the automotive sector. This, in turn, is anticipated to augment the automotive flywheel market through the assessment period.
Passenger experience is the key area of focus for the key players. It is expected to lead technological innovations in the automotive sector, thus, facilitating the expansion of the automotive flywheel market. In addition, the large-scale market presence of DCT (Dual Clutch Transmission) and AMT (Automated Manual Transmission) is also forecasted to favor the proliferation of the global market in the years to come.
Market Segmentation:
By material, the global automotive flywheel market has been segmented into cast iron, maraging steel, and aluminum alloys.
By type, the automotive flywheel market has been segmented into single mass flywheel and dual mass flywheel.
By transmission, the global automotive flywheel market has been segmented into manual transmission, semi-automatic transmission, and automatic transmission.
By vehicle type, the automotive flywheel market has been segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicle.
By sales channel, the global automotive flywheel market has been segmented into OEM and Aftermarket.
Regional Analysis:
The global automotive flywheel market, by region, has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Asia Pacific is anticipated to hold the highest share of market revenue in the forthcoming years. The development of the automotive flywheel market in the region is supported by the growth of the automotive sector coupled with rapid urbanization & industrialization. The rising purchasing power of the region is also likely to facilitate market growth. The boosted sales of automobiles in the region are expected to drive the proliferation of the automotive flywheel market.
Competitive Dashboard:
Major players operating in the global automotive flywheel market are Ford Motor Company (US), Schaeffler AG (Germany), AISIN SEIKI Co., Ltd (Japan), American Axle & Manufacturing, Inc. (US), Linamar Corporation (Canada), Valeo SA (France), LUTHRA INDUSTRIAL CORP (India), ZF Friedrichshafen AG (Germany), Skyway Precision, Inc. (US), and Iljin (Korea).
Industry News:
In March 2019, Schaeffler Technologies AG & Co. KG, a manufacturer of rolling element bearings for automotive, industries and aerospace, has introduced its program RACE designed to enhance the performance of Automotive OEM division and optimize its portfolio.
In February 2019, Toyota Motor Corp. (TMC), a Japanese multinational automotive manufacturer, has announced the unveiling of its new generation Toyota Hiace which is equipped with Dual Mass Flywheel (DMF).
In October 2018, American Axle & Manufacturing, Inc., the United States, showcased its fuel efficient and lightweight powertrain driveline, and metal forming technologies at the IZB International Suppliers Fair in Wolfsburg, Germany.
In June 2018, American Axle & Manufacturing, Inc., a global leader in the engineering design, and manufacturing of automotive components, has announced the expansion of its manufacturing facility in the industrial area of Viladecans, Spain, for the growth of its consumer base in Europe.
In February 2018, Canada based Linamar Corporation has announced the acquisition of MacDon and its Group of Companies.
