The global automotive clutch plate market is projected to grow at a significant rate during the forecast period, 2023-2027
The market growth can be attributed to the growing automotive industry and continuous advancements in clutch technology.
An automotive clutch is a mechanical device that transfers energy from the engine and is essential in shifting gears in a vehicle. It is used to keep the driver’s driving smooth by preventing the formation of friction between gears. Using a gearbox, the automotive clutch engages and disengages the engine at various speeds.
The automotive clutch includes the flywheel, clutch disc, pilot bushing, crankshaft, throw-out bearing, and pressure plate. Clutches are used in both automatic and manual transmission vehicles. An automatic transmission vehicle has multiple clutches, whereas a manual transmission vehicle has a single clutch.
Increasing consumer spending power is leading to a shift in consumer preference for private vehicle ownership, which is driving global automobile sales. Besides, increased demand for continuous improvement in automobiles through high-end investments in R&D activities is expected to boost vehicle sales. The shift in demand for vehicles from manual to semi-automatic to automatic transmission vehicles for improved driving experience is propelling the global automotive clutch plate market forward.
Rapid urbanization, industrialization, and improved road infrastructure are propelling the global logistics industry forward. Booming e-commerce industry and expansion of construction, mining, and other significant sectors are contributing to the high demand for commercial vehicles. Commercial vehicles are selling in record numbers around the world to meet rising consumer demand.
The introduction of advanced and high-performance vehicles and the rapid shift toward automatic transmission vehicles are expected to drive the global automotive clutch plate market over the next five years. Furthermore, the introduction of superior, advanced, and automatic vehicles by automobile manufacturers to lure youth into purchasing the vehicles is accelerating the adoption of automatic transmission in automobiles.
Because of rising consumer environmental concerns and fluctuations in crude oil prices, the automotive industry is transitioning from conventional fuel vehicles to electric vehicles. Battery electric vehicles do not require transmission systems because electric motors power them.
Post time: Jan-17-2023
