Automotive Clutch Market to Witness Robust Growth in Coming Years

With the mushrooming sales of automobiles, especially in the Asia-Pacific (APAC) region, the demand for automotive clutch is rising sharply. According to the Organisation Internationale des Constructeurs d’Automobiles, automobile production increased to a record level of 97.4 million units across the world in 2017 after exhibiting 8 years of continuous surge. Furthermore, as per the India Brand Equity Foundation (IBEF), automobile manufacturing in the country rose at a CAGR of 2.36% from FY16 to FY20, with the country witnessing the production of 26.36 million vehicles in FY20.

As the automotive clutch is an important component of an automobile, the rising sales of automobiles are pushing up its requirement. This automotive component basically enables the transmission of power from the engine to the gearbox and controls the functioning and speed of a vehicle, thereby providing a smooth and comfortable driving experience. In addition, it mitigates the effects of torsional vibration and prevents transmission overload, which is extremely necessary in order to maintain the proper functioning of an automobile.

Besides, the increasing concerns being raised over vehicle safety in several countries are also driving the demand for automotive clutches, which is, in turn, fueling the expansion of the global automotive clutch market. Moreover, the market is predicted to exhibit huge expansion from 2019 to 2030 (forecast period). Automotive clutches are required in three-wheelers, two-wheelers, passenger cars, medium and heavy commercial vehicles (M&HCV), and light commercial vehicles (LCV). Out of these, the incorporation of automotive clutches was found to be the highest in passenger cars and this trend is predicted to continue in the upcoming years as well.

Geographically, the sales of automotive clutches are currently the highest in the Asia-Pacific (APAC) region, as per the observations of the market research firm, P&S Intelligence. This is because of the surging manufacturing of automobiles in the region. Additionally, the rising urbanization rate and the growing disposable income of people are also boosting the sales of automobiles, which is, in turn, propelling the demand for automotive clutches in the region.

Thus, it can be concluded that the demand for automotive clutches will shoot up in the coming years, mainly because of the rising manufacturing and sales of automobiles all over the world.