- Automotive Flywheel Market held a market is expected to grow at 5% CAGR during the forecast period 2023.
- Competition amongst flywheel manufacturers is a key factor responsible for the growth of the flywheel market.
- Asia-Pacific is estimated to hold the highest revenue market share throughout the forecast period.
Automotive Flywheel Market held a market is expected to grow at 5% CAGR during the forecast period. The report summarizes market review of the key segments in the market such as by Material, by Type, by Transmission, Vehicle Type, Sales Channel, Region, Forecast 2023.
The prominent players in the global automotive flywheel market include Schaeffler AG (Germany), American Axle & Manufacturing, Inc. (US), AISIN SEIKI Co., Ltd (Japan), Linamar Corporation (Canada), ZF Friedrichshafen AG (Germany), Valeo SA (France), LUTHRA INDUSTRIAL CORP (India), Skyway Precision, Inc. (US), Ford Motor Company (US), and Iljin (Korea).
The global automotive flywheel market has seen remarkable growth. The rising production of vehicles globally in the past few years has boosted the flywheel market significantly. The demand for commercial vehicles is extensively driven by growing industrialization and growing service sectors. Rising demand for different factors such as comfort, aesthetics & safety, and continuous improvement in technology are responsible for the expansion of the automotive flywheel market. For enhancement of comfort factors, i.e. the reduction of the vibration produced within the transmission assembly, the manufacturers have developed different technologies.
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Competition amongst flywheel manufacturers is a key factor responsible for the growth of the flywheel market as manufacturers constantly focus on developing different features to differentiate their products and match the weight, speed and transmission requirements of automotive manufacturers. Rising penetration of semi-automatic transmission systems globally such as AMT (Automated Manual Transmission) and DCT (Dual Clutch Transmission in the commercial and passenger vehicles segments is likely to drive the flywheel market during the forecast period.
Market Research Analysis:
In terms of region, the global market for the automotive flywheel is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is estimated to hold the highest revenue market share in 2017 and dominate during the forecast period. Presence of China, India, Japan, where the sales of automobiles has continuously been increasing due to the increased urbanization and growing purchase of consumers, has further driven the market for flywheels in this region.
Geographically, the global automotive flywheel market has been segmented into four major regions namely North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is estimated to hold the highest revenue market share throughout the forecast period owing to growing urbanization and growing purchasing power of consumers. Moreover, increased production and sales of automobiles is expected to further boost the demand for flywheels in this region.