The global automotive clutch market is expected to witness significant growth over the forecast period owing to advancements in automotive technology coupled with surging demand for electric vehicles. Growing trend and evolving consumer preference towards manual to semi-automatic or fully-automatic transmission systems are expected to favorably impact the global automotive clutch market growth. Additionally, increasing consumer disposable income has driven vehicle sales, which is also expected to fuel market growth.
Availability of low-cost manual transmission clutches against torque converters with automatic transmission is also expected to drive the automotive clutch market. Furthermore, customer inclination towards more convenient modes of transmission and growing demand for passenger cars in emerging economies is also expected to drive the spur the market demand over the forecast period. In addition, OEMs focus on expanding production capacity by introducing new production facilities in order to meet growing demand, which is also expected to propel market growth. However, replacement of manual clutch by torque convertor in automatic transmission systems may pose to be a challenge to the automotive clutch market. Additionally, low fuel efficiency of vehicles equipped with automatic transmission systems is expected to be a major challenge to the automotive clutch market.
North America is expected to emerge as the most dominant regional market over the forecast period, which can be attributed to growing demand for electric vehicles. Furthermore, high vehicle demand in emerging economies such as China and India are expected to drive growth across Asia Pacific market over the forecast period. Key market participants include ZF Friedrichshafen, Valeo, Schaeffler, NSK Ltd, F.C.C. Co. Ltd, Exedy Corporation, Eaton Corporation PLC, Clutch Auto Limited, Borgwarner Inc, and Aisin Seiki Co. Ltd., Torotrak, Fiat and Magneti Marelli.
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