Albany, NY -- (SBWIRE) -- 09/26/2018 -- The automotive flywheel market is growing at a consistent pace owing to incorporation of flywheels in transmission assembly of vehicles; however, the market for flywheels is anticipated to be hampered by the growing market for vehicles with automatic transmission systems. Automatic transmission systems encompass flex plate instead of flywheels which is used in vehicles for absorption of extra energy. The expanding electric vehicles market is likely to be another threat for the flywheel market due to its elimination from electric vehicles.
global automotive flywheel marketRising production of vehicles globally in the past few years has boosted the flywheel market significantly. Growing industrialization and growing service sectors have extensively driven the demand for commercial vehicles. Increasing production of vehicles is another major factor driving the automotive flywheel market. Increasing population, urbanization, and purchasing power of the population are the major factors boosting the production of vehicles. Increasing per capita income has empowered society to buy leisure items, which has led to the increasing demand for vehicles. Collective growth of passenger and commercial vehicles is likely to enhance the market for flywheels at a significant rate.
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Continuous improvement in the technology over a period of time to fulfill the rising demand in view of different factors such as safety, comfort, and aesthetics is likely to expand the market of flywheels for automotive. Thus, to enhance the comfort factor (by reducing the vibration produced within the transmission assembly), manufacturers have developed different technologies. Competition among flywheel manufacturers is anticipated to be a key factor for the thrust of the flywheel market as manufacturers keep developing flywheels with different features to differentiate their products and match the speed, weight, and transmission requirements of automotive manufacturers. Rising penetration of semi-automatic transmission systems globally such as DCT (Dual Clutch Transmission) and AMT (Automated Manual Transmission) in passenger as well as commercial vehicles is likely to drive the flywheel market through the forecast period.
Based on the type of flywheels, single mass flywheels hold the major share of the automotive flywheel market. Penetration of single mass flywheel is higher in vehicles owing to its low cost and simple design as compared to dual mass flywheels. However, the penetration of dual mass flywheel is rising in passenger and light commercial vehicles to improve the comfort factor of the vehicles by absorbing the produced vibration. Moreover, dual mass flywheels are incorporated in premium segment vehicles and are continuously penetrating the low cost vehicle models. Due to various advantages of single mass flywheel over dual mass flywheels such as ability to use it repetitively after resurfacing, lower cost, and light weight, single mass flywheel is preferred in many vehicles over dual mass flywheels.
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On the basis of the materials used for manufacturing of flywheels, maraging steel is highly preferred as it possesses high strength which enhances the durability of automotive flywheels. However, flywheels made of aluminum alloys are preferred for application in sports cars due to their light weight and high speed requirement. Cast iron segment is witnessing significant growth owing to cost advantages and better machinability. Moreover, cast iron is highly preferred for the manufacturing of flywheel for light commercial vehicles and heavy commercial vehicles. Based on different transmission systems, manual transmission segment and semi-automatic segment are likely to expand significantly over the forecast period. Manual transmission segment is growing continuously due to its high preference in Europe.
The global automotive flywheel market is witnessing rapid expansion. Asia Pacific holds a major share of the global market due to the presence of major manufacturing facilities concentrated in China, India, and Japan owing to the availability of low cost skilled labor, reduced import duties, and provision for setting up manufacturing plants in these countries at low investment cost. Lower investment for manufacturing enables manufacturers to reduce the cost of the product, which boosts the demand for their product, as compared to competitors.
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A few large players account for a major share of the flywheel market for vehicles, while the remaining share is distributed between small manufacturers. Key players in the flywheel market for automotive are expected to benefit from the formation of strategic alliances with global players in the flywheel market for vehicles. Major players operating in the global flywheel market for automotive include AISIN SEIKI Co.,Ltd., American Axle & Manufacturing, Inc., AMS Automotive, EXEDY Globalparts, JMT Auto Limited, Lavacast, LMB Euroseals (PTY) LTD, Tilton Engineering, Linamar Corporation, Platinum Driveline, Schaeffler AG, Skyway Precision, Inc., Valeo, and ZF Friedrichshafen AG. Valeo, AISIN SEIKI Co., Ltd., and ZF Friedrichshafen AG are leading companies and have a large product portfolio as compared to other flywheel manufacturers. Valeo has an extensive portfolio for automotive flywheels and is one of the leading manufacturers, holding a major share in the aftermarket sales channel.