ID: MRFR/AM/8744-HCR | February 2021 | Region: Global | 100 pages
It is estimated that by the year 2028, the automotive pressure plates market growth will reach a CAGR of 5 %.
Pressure plates are very essential for operating clutch systems in all types of automobiles. It is a spring-loaded device that can be either be engaged or disengaged with the flywheel and clutch disc. The manufacturers of pressure plates have the responsibility for ensuring that the products are highly resistant to stress conditions like extreme temperature. In addition to this, investments are being focused on the research and development of pressure plates that further downsize the clutch systems.
In recent years, there has been an increase in demand for automobiles. This has increased automotive pressure plates market growth. Pressure plates are required for every automobile depending on the size of clutch systems. As they form an important part of the clutch system and are usually sold on a large scale.
COVID-19 has impacted market operations severally as companies have either shut down or working on reduced capacities. The demand for automobiles has been severely impacted due to the restricted mobility of components amongst national and international boundaries.
In addition to this, there has been a restriction on travel which has reduced the demand for vehicles thereby impacting automotive pressure plates market growth. Also, there have been restrictions in market mobility which has reduced companies’ capacities in introducing new models. Automobiles is a vast industry that is highly dependent on components that are manufactured in other small units. Since many countries are under severe lockdowns hence, there is a large gap in the supply chain that has changed the automotive pressure plates market outlook.
The automotive pressure plates market is a competitive market containing many players like
India has a highly competitive market for automotive pressure plates than other regions of the world.
There has been indirect development in the pressure plates market. For instance, aluminum alloy flywheels and special plasma-sprayed pressure plates have been introduced for racing vehicles. For some racing cars, special steel is inserted and screwed in respective pressure plates for ensuring frictions. Also, research and development have been taking place for compact pressure plates that will downsize the clutch systems.
Drivers- In recent years, there has been increasing demand for electrical and automated vehicles which has impacted the automotive pressure plates market outlook. In this view, increasing customer preferences for both semi-automatic and fully transmission systems have contributed to high automotive pressure plates market growth. Also, in the global context, there has been a rise in the production of automobiles which has fuelled the market growth for pressure plates. Also, automotive industry will witness new car sales by 30% in the US market alone.Besides, there have been increased demands for high-power vehicles coupled with acceleration and traction competencies. This will also be a driving factor for increasing automotive pressure plates market size.
Opportunities- Automotive pressure plate sale is highly dependent on automobile vehicles. Besides, there has been increasing disposable income of the global population. This has enhanced the demand for both passenger cars and other types of automobiles for daily comminution. Due to this, there has been increasing demand for automobile pressure plates. Also, the cost for manual clutches is relatively low than automatic ones. This will boost the automotive pressure plates market growth in the upcoming years.
Restraints- The popularity of automatic transmission has been increasing globally due to high preferences for driving comforts. Also, the clutches of automatic transmission systems are high fuel-efficient than the manual ones. Additionally, pressure on the reduction of carbon emission has increased the demand for electric vehicles globally. However, the application of manual clutches is low in electric vehicles. The aforementioned factors might hamper the growth rate of the automotive pressure plates market.
Challenges- Convenience and comfort for driving have fuelled the demand for automatic clutch transmissions. This will impact the sales of automotive pressure plates negatively. In addition to this, the overall automotive industry is facing a huge crisis of semi-conductors due to which many big companies had to shut down factories in 2020. This impacted the sales of vehicles which further influences the demand in the automotive pressure plates market.
Besides, the fuel economy has further impacted the standards of vehicles. In many regions of North America, there have conflicting fuel standards due to the decisions taken by the government each year. This impacts the sale of vehicles which further has a direct effect on the automotive pressure plates market.
Cumulative growth analysis
The increasing demand for automobiles is rising for few years which is expected to boost the demand for automobile pressure plates. The industry has been witnessing high demand for electric vehicles along with shifting preferences to semi- or fully automatic transmission systems. This has further increased requirements for clutch systems which will further create higher opportunities for the growth of the automotive pressure plates market. Since pressure plates are an important part of clutch systems, hence key players have been focusing on the development of compact clutches.
Besides, the automotive pressure plates market is fuelling growth due to its usage in varied industries specially located in emerging economies. The pressure belts used in automotive are generally demanded on large scale thus, providing higher opportunities for the manufacturers.
Value Chain analysis
The pressure plates apply stress for transferring the torque to the transmission. Thus, when it is coupled with components like clutch disc and flywheel, it assists power flow from the engine to the transmission. It contains varied other elements like clutch plates, springs, coverings, and release fingers. The pressure plates are available in two types that is spring and diaphragm, however, the use of the latter is high.
The features and functions of pressure plates are being used in several industries that have increased the demand for this product. Besides, fuel efficiency standards are often regularized by the government for managing the use of natural resources. For instance, the regulations in Canada mandate vehicles to be equipped with 51 miles per gallon. Hence, a more compact clutchis being designed for meeting regulations and reducing the use of fuel.
The automotive pressure plates market is segmented depending on the type of product, vehicle, clutch, and sales channel. The segment overview provides a view of sectors through which strategies can be approached for broadening the opportunities.
As per region, four segmentations have been done including North America, Europe, Asia – Pacific, and other parts of the world. The growth of the automotive pressure belts market will be high in the Asia- Pacific regions. Contributing factors will be growing demand in the middle-class population due to which an increase in fleet vehicles is estimated. The second-largest region for automotive pressure plates market growth will be North America due to the high adoption of luxury vehicles from the last few years.
In the Middle East Asian region, there has been a growing demand for cost-effective manual clutches which is expected to boost demand in the automotive pressure plates market. Besides, in regions like Europe and other parts of the world, the demand for automobiles has been on the increasing trend for few years.
Automotive pressure plates report includes overall analysis including market overview, pandemic analysis, market dynamics, value chain analysis, segment overview, regional analysis, competitive landscape, and recent development. The report is prepared with various secondary and primary sources.
|Market Size||2030: Significant Value|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Vehicle Type, Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||California Custom Clutch Corporation (US), Raicam Clutch Ltd (Italy), Makino Auto Industries Private Limited (India), SASSONE SRL (Italy), ANAND Group (India), Apls Automotive Industries Private Limited (India), MACAS Automotive (India), Hebei Tengda Auto Parts Co., Ltd. (China), S. K. Auto Industries (India), Setco Automotive Ltd (India), GOLDEN Precision Products Private Limited (India), and RSM Autokast Ltd. (India)|
|Key Market Opportunities||research and development of compact automotive pressure plates|
|Key Market Drivers||Increasing use of the automotive pressure plates|
Frequently Asked Questions (FAQ) :
Global automotive pressure plates market is projected to grow at approximately 5% CAGR during the assessment period (2020-2026).
Rising production and sales of vehicles are the major factors driving the growth of automotive pressure plates market.
The Asia Pacific region holds the largest share in the global automotive pressure plates market, followed by North America and Europe, respectively.
Raicam Clutch Ltd (Italy), California Custom Clutch Corporation (US), Makino Auto Industries Private Limited (India), ANAND Group (India), SASSONE SRL (Italy), Apls Automotive Industries Private Limited (India), Hebei Tengda Auto Parts Co., Ltd. (China), MACAS Automotive (India), S. K. Auto Industries (India), GOLDEN Precision Products Private Limited (India), Setco Automotive Ltd (India), and RSM Autokast Ltd. (India), are some of the top players operating in the global automotive pressure plates market.
Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global automotive pressure plates market adopt to gain a larger competitive advantage.