PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485833
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485833
Automotive Flywheel Market size was valued at USD 7,231.21 Million in 2023, expanding at a CAGR of 3.6% from 2024 to 2032.
The global automotive flywheel market refers to the industry involved in the manufacturing and distribution of flywheels used in vehicles, which store rotational energy to stabilize engine speed and reduce vibrations. The increasing demand for fuel-efficient vehicles, advancements in dual-mass flywheel technology to enhance vehicle performance, and the growing adoption of electric vehicles requiring efficient energy storage solutions are driving the market growth. However, restraints include the availability of alternative technologies like electric motors replacing conventional flywheels, along with challenges related to material selection for lightweight yet durable flywheel designs. Market opportunities are evident in the development of hybrid vehicle technologies necessitating effective energy management solutions, and the expanding aftermarket segment for replacement flywheels due to vehicle fleet expansion and maintenance needs.
Automotive Flywheel Market- Market Dynamics
Rising Vehicle Production Propels the Growth of the Automotive Flywheel Market
The surge in global vehicle production continues to fuel the growth of the automotive flywheel market. This trend is evidenced by the substantial increase in vehicle manufacturing volumes across key regions, driven by rising consumer demand and economic recovery post-pandemic. According to recent data from the International Organization of Motor Vehicle Manufacturers (OICA), global automobile production reached over 95 million units in 2023, marking a significant increase compared to previous years. Furthermore, major automotive manufacturers like Toyota, Volkswagen, and General Motors have announced plans to expand production capacities to meet growing market demand. Additionally, government initiatives promoting domestic automotive manufacturing, such as incentives for electric vehicle production, further contribute to this growth trajectory. As vehicle production scales up, the demand for automotive flywheels rises proportionately, underscoring the crucial role of this market in supporting the automotive industry's expansion.
Automotive Flywheel Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 3.6% over the forecast period (2024-2032)
Based on Material Type segmentation, Steel was predicted to show maximum market share in the year 2023
Based on Technology segmentation, Dual mass flywheel was the leading type in 2023
Based on Transmission Type segmentation, Automatic Transmission was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Automotive Flywheel Market is segmented based on Material Type, Technology, Transmission Type, Application, and Region.
The market is divided into four categories based on Material Type: Cast Iron, Steel, Aluminum, and Composite. Steel holds the largest share due to its durability and heat resistance. Aluminum is growing owing to its lightweight properties, while composite materials are gaining traction for their high strength-to-weight ratio.
The market is divided into four categories based on Technology: Conventional Flywheels, Dual Mass Flywheels (DMFs), Lightweight Flywheels, and Composite Flywheels. Dual mass flywheels (DMFs) dominate the market due to their ability to reduce vibrations. Lightweight flywheels are gaining traction for improved performance, while composite flywheels show promise for their strength-to-weight ratio.
Automotive Flywheel Market- Geographical Insights
North America and Europe dominate the market, attributed to their well-established automotive industries and strong technological advancements. In North America, the market benefits from the presence of key automotive manufacturers and a growing demand for lightweight and fuel-efficient vehicles. Europe, on the other hand, emphasizes stringent emission regulations driving the adoption of advanced flywheel technologies. Asia Pacific emerged as a lucrative region, propelled by the rapid expansion of the automotive sector in countries like China and India. These regions witness substantial investments in research and development, focusing on enhancing vehicle performance and reducing emissions, further driving the demand for automotive flywheels.
Companies such as Schaeffler AG, Valeo SA, and EXEDY Corporation are prominent players, known for their innovative flywheel solutions catering to various vehicle types. These companies focus on research and development to introduce lightweight and durable flywheel designs that improve vehicle efficiency and performance. Strategic partnerships, collaborations, and acquisitions are common strategies adopted by these players to strengthen their market position and expand their product portfolios. For instance, Schaeffler AG, a leading automotive component supplier, acquired the flywheel business of LuK GmbH & Co. KG to enhance its portfolio of powertrain technologies. Valeo SA, another major player, has collaborated with vehicle manufacturers such as Ford and Hyundai to develop innovative flywheel systems aimed at improving fuel efficiency and reducing emissions.
In August 2022, Valeo launched a 260 mm Dual Mass Flywheel (DMF) for the Mahindra XUV500 Diesel. The flywheel's 260 mm diameter is a key feature that helps the vehicle's transmission system run smoothly.
In September 2022, Valeo was recognized with the PACE award for its Pendulum Dual Mass Flywheel Gen. 2, which effectively minimizes Noise, Vibration, And Harshness (NVH) in hybrid vehicles during start and stop operations.
GLOBAL AUTOMOTIVE FLYWHEEL MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
AMS Automotive
EXEDY Corporation
Hirschvogel Automotive Group
LMB Euroseals
LuK GmbH & Co. KG (a Schaeffler Group brand)
Mancor Industries
Pioneer Automotive Industries
Schaeffler AG
Skyway Precision, Inc.
Valeo SA
ZF Friedrichshafen AG
Zoom International Inc.
Others