Global Clutch Friction Plate Market is valued approximately USD XX billion in 2020 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2021-2027. A clutch friction plate is used in vehicles to allow the transmission input shaft and engine to run at the same speed when rotating. The friction that is created between the engine and the transmission, provides the force required to move the vehicle. Growing Automobile industry and rising advancements in automatic transmission technology are key drivers for the growth of Clutch Friction Plate market. According to India Brand Equity Forum in September 2021, the Indian government released notification for a Production Linked Incentive (PLI) for automobile and auto components worth USD 3.49 billion. This scheme is expected to bring investments of over USD 5.74 billion by 2026. As per database management company Statista it is projected that the global automotive industry will generate about USD 3.8 trillion from auto sales by 2030. Also, with the increasing commercial and passenger vehicle industry, the adoption & demand for Clutch Friction Plate is likely to increase the market growth during the forecast period. However, supply chain disruption due to covid 19 pandemic impedes the growth of the market over the forecast period of 2021-2027.
The key regions considered for the global Clutch Friction Plate market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to presence of leading market player and well-established automotive industry in the region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027. Factors such increasing automobile industry in the region would create lucrative growth prospects for the Clutch Friction Plate market across Asia-Pacific region.
Major market player included in this report are:
Schaeffler Technologies AG & Co. KG
Honeywell International Inc.
TMD Friction Services GmbH
TRW Automotive Holdings Corp
Aisin Seiki Co. Ltd.
arlisle Industrial Brake & Friction
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Dry Friction Plate
Wet Friction Plate
By Sales Channel:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of the Global Clutch Friction Plate Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers