According to the report, the global automotive dual mass flywheel market is projected to surpass US$ 8 Bn by 2030, expanding at a CAGR of ~3% during the forecast period, owing to the rise in the global demand for vehicles. Asia Pacific and Europe are key markets for the automotive dual mass flywheel. The high production of manual transmission vehicles is likely to propel the market for automotive dual mass flywheel, owing to high penetration of dual mass flywheels in manual transmission vehicles, as compared to that in automatic transmission equipped vehicles.
Expansion of Automotive Dual Mass Flywheel Market
Almost all vehicles contain flywheels in order to avoid energy fluctuation in the crankshaft of the vehicle. Therefore, a rise in the production of vehicles is anticipated to boost the automotive flywheel market. Additionally, increase in preference for dual mass flywheels over conventional flywheel among manufacturers is likely to boost the market for automotive dual mass flywheel. The increase in disposable income and low interest rate vehicle loans have fueled the demand for vehicles, which in turn has prompted manufacturers to raise production by expanding their manufacturing capacities.
The flywheel is a cost-effective solution to store extra kinetic energy produced in the engine of the vehicle, which releases the stored energy when required. The automotive dual mass flywheel is a circular structure with ring gear or springs integrated in it, which also helps dampen the vibration generated by the transmission system. The flywheel is mounted at the end of the crankshaft in order to absorb the excess energy. Along with the absorption of energy, it also reduces the vibrations produced in the engine compartment.
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Automotive dual mass flywheels are made of diverse metals such as cast iron, maraging steel, and aluminum alloy in order to withstand drastic temperature and high strain situations as amount of heat generated is significantly high in the drivetrain and engine assembly.
Regional Analysis of Automotive Dual Mass Flywheel Market
In terms of region, the global automotive dual mass flywheel market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific held a leading share of the global automotive dual mass flywheel market in 2019, owing to high volume production of vehicles in China, India, and Japan. Asia Pacific is anticipated to hold a dominant share given the large consumer base in the region.
Furthermore, several automakers have outsourced their production to China and India due to low manufacturing charges, which in turn is further expected to boost the automotive dual mass flywheel market in Asia Pacific. Asia Pacific is followed by Europe, in terms of share of the global automotive dual mass flywheel market. In terms of volume, the market in Latin America is projected to expand significantly owing to the entry of foreign manufacturers in Mexico and Brazil, which in turn is estimated to boost the demand for automotive dual mass flywheel.
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Prominent players operating in the global automotive dual mass flywheel market include AISIN SEIKI Co., Ltd., American Axle & Manufacturing, Inc., AMS Automotive, AmTech International, EXEDY Globalparts, JMT Auto Limited, Lavacast, Linamar Corporation, LMB, Euroseals (PTY) LTD, Platinum Driveline, Schaeffler AG, Skyway Precision, Inc, Tilton Engineering, Valeo SA, and ZF Friedrichshafen AG.