United States/WA: Automotive flywheel Market Will Boom In Near Future
Report Pages:[130 Pages]
Key Companies operating in the Global Automotive Flywheel Market are Schaeffler Group, Waupaca Foundry, Inc., Linamar Corporation, Skyway Precision Inc., ZF Friedrichshafen AG, Metaldyne Performance Group Inc., Valeo, Mancor Industries, and EXEDY Corporation.
Global Automotive Flywheel Market assemblies have various different jobs. First, they help turn mechanical energy into electrical energy by reducing friction between moving parts. The second job is to convert the electrical energy into mechanical energy, which is then used to turn the flywheel. The third job is to store this mechanical energy so that it can be later used to turn the flywheel. Lastly, the automotive flywheel helps to control the rate at which an engine runs, and its purpose is to provide an environment that allows the engine to maximize its potential.
Increasing demand for commercial vehicles is expected to drive growth of the global automotive flywheel market. According to the Organisation Internationale des Constructeurs d’Automobiles (OICA), commercial vehicle sales reached 27 million units in 2019, increasing from 20 million units in 2011 globally. According to the India Brand Equity Foundation (IBEF), India’s domestic automobile sales reached 21.55 million units in FY20, registering a CAGR of 1.29%. Growing commercial vehicle sales has increased the demand for automotive flywheels worldwide. Hence, such factors are expected to drive growth of the global automotive flywheel market. Furthermore, growing awareness regarding aesthetics, safety, comfort, and continuous improvement in technology is expected to propel the global automotive flywheel market growth in the near future. Besides, growing penetration of semi-automatic transmission systems worldwide is expected to boost the global automotive flywheel market growth in the near future.
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However, rising consumer preference for electric vehicles is expected to restrain growth of the global automotive flywheel market. Besides, technological developments in kinetic energy recovery systems can provide significant growth opportunities to major market players in the near future. Among regions, Europe is expected to witness significant growth in the global automotive flywheel market. This is owing to increasing sales of automotive vehicles across the region. Furthermore, North America is expected to register a robust growth rate, owing to the presence of OEMs across the region. Asia Pacific is expected to witness massive demand for automotive flywheels, owing to increasing aftermarket demand in emerging economies such as India, Japan, and China.
Automotive flywheel market taxonomy
On the basis of application, the global automotive flywheel market is segmented into:
- Passenger cars
- Light commercial vehicles
- Medium & heavy commercial vehicles
On the basis of flywheel type, the global automotive flywheel market is segmented into:
- Single flywheel
- Multilevel flywheel
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