Automotive Flywheel Market Scope:
Flywheels are wheels that are substantial and require a ton of power to be turned around. They consist of an extensive measurement wheel with spokes, alongside a heavyweight edge attached to it, and are primarily used to store kinetic energy for smoothing out nonstop energy sources.
The global automotive flywheel market is being driven by several key factors, including the increasing adoption of automated manual transmission, the growing penetration of dual clutch transmission and continuous variable transmission (CVT). Additionally, the rising production and sales of electric vehicles are also contributing to the growth of the flywheel market.
In the next five years, the global automotive flywheel market is expected to grow in value at a compound annual growth rate (CAGR) of over 5%. The market is divided into two flywheel types: single mass flywheel and dual mass flywheel. Over the next five years, the dual mass flywheel segment is projected to grow at the highest CAGR, as automotive OEMs aim to reduce vehicle weight and provide smaller and lighter engines.
Several major key players operate in the automotive flywheel market, including Valeo, ZF, Linamar, Schaeffler, ATTC, Waupaca, Skyway Precision, Mancor, EXEDY, Metaldyne, Grede, Ford, Iljin, Tupy, Skyway, and Pace.
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United States Automotive Flywheel Market:
- Increasing Electric Vehicle Sales:
Changing consumer preferences, increasing fuel prices and strict rule of government for green vehicles is boosting the demand for automatic vehicles in United States.
According to International Energy Association (IEA), in United States, states of California, Oregon and Washington together organised an extensive network of DC fast charging station to boost the electric vehicle market in United States.
The small electric vehicle market in United States is growing at a CAGR of over 24% in volume terms over next five years.
Rising sales of small electric vehicles is fettering the automotive flywheel market. Expanding research on developing advances like Kinetic Energy Recovery System (KERS) and nonstop vitality stockpiling in vehicles are a portion of the real patterns winning in the market. Growing small electric vehicle market in the country is driving the automotive flywheel market in the country.
Increasing Small Electric Passenger Car Sales, Drives the Global Automotive Flywheel Market:
The global small electric market is prominently dominated by the passenger car segment with a share of over 95%, in volume terms in 2016.
Passenger cars are primarily being focused upon by several automobile manufacturers as implementation of passenger electric vehicles is comparatively easier and a lot more economical than the same being implemented in commercial vehicles.
The passenger car segment is anticipated to maintain its dominance over the forecast period as well and acquire a volume share of over 95% owing to its vast preference over the commercial vehicles.
Moreover, passenger car segment dominates the automotive flywheel market and is expected to maintain its dominance over the next five years backed by growing small electric vehicle market. This will boost the demand of automotive flywheel.
Tighter Emission Norms:
According to recent report of World Bank Group, the level CO2 Emission since 2012 is increasing globally and is affecting the environment.
Source: World Bank Group
According to SIAM, Society of India Automobile Manufacturers, India’s first Auto Fuel Policy was released way back in August 2002 which laid down the Emission and Fuel Roadmap up to 2010. From April 2005, 4-wheeled vehicles moved to Bharat Stage III emission norms in around 13 cities. Moreover, in April 2017, the implementation of BS IV norms across the country was proposed in a phased manner and BS V emission norms in 2020/2021 and BS VI from 2024.
To support the governments initiatives for emission standards vehicle manufacturers are working continuously on the new technologies. Dual-mass flywheels are now becoming popular to meet the tighter emission norms. Dual-mass flywheels reduces the unwanted vibrations, reduces noise, improves the shifting comfort and prevents transmission damage. Dual-mass flywheels provide better fuel economy and protects the drivetrain. Moreover, it also reduces the total weight of the vehicle.
Dual-mass flywheel important applications are becoming popular among automobile manufacturers to reduce the weight of the vehicle and to maintain modern engine features in a vehicle which drives the global automotive flywheel market.
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