The Automotive Clutch Market is being driven by Rising disposable incomes and changing consumer preferences toward advanced vehicles
The Automotive Clutch Market is expected to grow at a CAGR of 5.78% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4.49 billion. The automotive clutch market is witnessing a notable trend towards the adoption of automated manual transmissions (AMTs) and dual-clutch transmissions (DCTs), driven by increasing consumer preference for vehicles equipped with advanced transmission technologies. AMTs and DCTs offer several business advantages, including enhanced fuel efficiency, smoother gear shifts, and heightened driving comfort. These transmissions cater to consumers seeking the convenience of automatic transmissions, alongside the fuel efficiency and performance benefits associated with manual transmissions. A key player in the global automotive clutch market, catering to this trend, is BorgWarner Inc. With a focus on providing innovative transmission solutions, including clutches, BorgWarner serves a diverse clientele, ranging from passenger to commercial vehicle manufacturers.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Channel (OEM, Aftermarket) Vehicle Type (Passenger vehicles, Commercial vehicles) Geography (APAC, North America, Europe, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Automotive Clutch Market Research Report
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The Automotive Clutch market caters to Manual Vehicles, specifically those equipped with Manual Transmission systems. It plays a crucial role in transferring rotational power from the Engine Shaft to Transmission Systems in Manual Vehicles. OEMs focus on increasing Production Capacity to meet Consumer Preference for both Manual Clutch and Fully Automatic Transmission systems. With the shift towards Electric Vehicles and Fossil Fuel Dependency reduction, Torque Convertors are being replaced in Automatic Transmission systems. Global Operations expand in Automotive Hubs, including Passenger Cars and Emerging Economies, with new Production Facilities.
The Automotive Clutch market is a significant segment of the global Automotive Parts and Equipment Market, which encompasses businesses producing components and accessories for various vehicle types, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, market size is determined by the consolidated revenue generated by manufacturers of automotive components and equipment. Factors fueling the expansion of the Automotive Parts and Equipment Market include the escalating demand for electronic control units (ECUs) and other electrical components due to the growing sales of EVs, motorcycles, and PCs.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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