Clutch Friction Plate Market Overview
According to latest study, clutch friction plate market is set to witness steady growth during 2021-2031. Demand for clutch system components will witness steady recovery in short term, with optimistic outlook in the long run.
Surge demand from automotive industry, thereby augmenting the need of clutch friction plate over the forecast period.
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What is Driving Demand for Clutch Friction Plate?
In automobiles, a friction clutch plate allows the input shaft of the gearbox and the engine to rotate at the same speed. The force required to drive the vehicle is provided by the friction formed between the engine and the transmission.
The friction plate is sandwiched between the engine flywheel and a steel pressure plate bolted to the flywheel when the clutch is engaged. If the pressure between the flywheel and the pressure plate is insufficient, the friction plate will slip, causing the vehicle to malfunction.
Over the next few decades, the global clutch friction plate market is likely to be driven by an increase in the number of automobiles on the road, as well as continued advancements in existing power transmission technology such as automatic transmission and automatic manual transmission.
Furthermore, increased concern about clutch plate and transmission assembly maintenance and servicing is predicted to drive sales of clutch assembly components, which is expected to enhance the aftermarket segment over the forecast period.
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Clutch Friction Plate Demand to Continue Growing with Increasing Number of Automotive Vehicle Flooding the Market
As more alternatives enter the market, the sale of crucial vehicle components such as friction plates is expected to increase dramatically. The clutch friction plate, which is a crucial component of the clutch system, is mass-produced and sold in enormous quantities.
The numerous market players are involved in extensive research for creating compact and well-designed clutch system that are equipped with an enhanced friction plate to improve the driving experience of automobile driver.
The clutch system market has gained traction as a result of increased demand for clutch friction plates in emerging countries’ automotive industry.
Furthermore, due to the difficulties of performing maintenance, repair, and replacement by the vehicle owner, the automotive aftermarket industry is predicted to grow in income in the coming years. According to this scenario, the replacement of clutch friction plates in automobiles could result in greater sales.
Asia Pacific Clutch Friction Plate Sales Outlook
Asia Pacific is regarded as one of the world’s most important regions. China and Japan are estimated to account for a substantial portion of the global market during the assessment period 2021-2031.
The expansion of the clutch friction plate is directly tied to the demand for passenger and commercial vehicles. The fact that China and Japan have enormous production capacities and fleet sizes within their countries will promote friction plate sales. Furthermore, electric automobiles and self-driving vehicles will change the current concept of mobility in the marketplace.
Manufacturers of clutch friction plate in Asia Pacific are attempting to conquer the clutch system market in North America and APAC in the near future in order to expand their market position.
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Europe Clutch Friction Plate Market Outlook
The COVID-19 problem has impacted a number of European countries, resulting in a drop in economic activity. However, Europe is home to a number of clutch system manufacturers, making it a key producer of automobile components and systems.
Due to high rate of adoption of clutch system components in OEM/aftermarket and the growth of the automotive industry in the region. Europe holds a significant share of the global market for automobiles.
As a result, the production of passenger and commercial vehicles with clutch friction plate has increased. Especially in Germany, the United Kingdom, France, and Italy. These characteristics are expected to increase the area’s market growth prospects.
Who are the Key Manufacturers and Suppliers of Clutch Friction Plate?
Some of the leading manufacturers and supplier of clutch friction plate includes
- Schaeffler Technologies AG & Co. KG
- Brembo S.p.A.
- BorgWarner Inc.
- Honeywell International Inc.
- TMD Friction Services GmbH
- TRW Automotive Holdings Corp
- Aisin Seiki Co. Ltd.
- arlisle Industrial Brake & Friction
- Champion Technologies
- Clutch Auto Ltd.
- Cook Bonding & Manu and others.
Many leading manufacturers and supplier have longstanding contracts with end-users to supply clutch system. Further, manufacturers are focused on establishing their manufacturing facilities in the countries from Asia Pacific such as India, China, Thailand, and Taiwan to cater increasing demand in the region.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.