Automotive Flywheel Market

Automotive Flywheel Market

Growth Factors of Automotive Flywheel Market

The Automotive Flywheel market size was valued at USD 14.13 billion in 2023, and the market is now projected to grow from USD 14.46 billion in 2024 to USD 16.78 billion by 2032, exhibiting a CAGR of 1.9 % during the forecast period of 2024-2032.

The COVID-19 pandemic innocently impacted the worldwide automotive flywheel market. Lockdowns, supply chain disturbances, and compact vehicle making led to a short-range drop in the demand for automotive flywheels. Yet, the rising implementation of electric vehicles and hybrid propulsion systems, coupled with increasing focus on fuel efficiency and emission reduction, would drive market recovery and progression in the post-pandemic period.

Automotive flywheel market development is categorized by growing fame of hybrid vehicles. Hybrid vehicles are fuel-efficient as they comprise an internal combustion engine with a battery and electric motor. This double power source arrangement allows them to attain expressively improved fuel efficiency than traditional vehicles. Many governments deal tax incentives, refunds, and subsidies for acquiring hybrid vehicles as part of their efforts to encourage cleaner transport. These motivations benefit to lesser the primary cost of hybrid vehicles and make them more economically pleasing to consumers which surges the market growth.

By composite materials in vehicle flywheel manufacturing deals numerous benefits over traditional materials. Combined flywheels use a blend of materials, such as carbon fibers surrounded in a resin matrix, to generate a robust yet lightweight structure. These materials are considerably lighter than iron and steel, decreasing the flywheel's complete weight. This weight reduction contributes to better-quality vehicle efficiency, faster engine response, and condensed turning inertia.

Comprehensive Analysis of Automotive Flywheel Market

The market can be segmented in various ways, depending on the focus of analysis such as by material, by type and by vehicle type. Based on material, the market is segmented into iron, steel, and others. Based on type, the market is classified into single mass and dual mass. Based on vehicle type, the market is categorized into commercial vehicles and passenger cars.

Asia Pacific region is dominating the turbocompressor market share due to prompt urbanization, increasing middle-class people, and growing disposable income. The shift toward hybrid and autonomous vehicles is also attaining thrust, with numerous governments and manufacturers aiming on sustainability and improvement. These features are booming regional development.

The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include chaeffler Technologies AG & Co. KG (Germany), Valeo (France), ZF Friedrichshafen AG (Germany), Aisin Seiki Corporation (Japan), AMS Automotive (U.S.), Suzuki (Japan), YOSHIWA KOGYO Co., Ltd. (Japan), Ace Manufacturing & Parts Co. (U.S.), Tilton Engineering (U.S.), Pioneer Automotive Industries (U.S.) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In July 2022, Schaeffler's Automotive Aftermarket division officially inaugurated its new global headquarters in Frankfurt’s Gateway Gardens district in Germany.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 1.9% from 2024 – 2032

Unit Value (USD Billion)

Segmentation By Material

Iron

Steel

Others

By Type

Single Mass

Dual Mass

By Vehicle Type

Passenger Cars

Commercial Vehicles

By Geography

North America (By Material, Type, Vehicle Type)

U.S. (By Vehicle Type)

Canada (By Vehicle Type)

Mexico (By Vehicle Type)

Europe (By Material, Type, Vehicle Type)

Germany (By Vehicle Type)

UK (By Vehicle Type)

France (By Vehicle Type)

Rest of Europe (By Vehicle Type)

Asia Pacific (By Material, Type, Vehicle Type)

China (By Vehicle Type)

Japan (By Vehicle Type)

India (By Vehicle Type)

South Korea (By Vehicle Type)

Rest of Asia Pacific (By Vehicle Type)

Rest of the World (By Material, Type, Vehicle Type)


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