Clutch Friction Plate Market to Grow at 4.27% CAGR Through 2029

Growing emphasis on vehicle safety standards, increased demand for robust and impact-resistant solutions, surge in automotive production and sales, particularly in emerging economies, ongoing trend towards lightweight materials and advanced manufacturing processes are the factors driving market in the forecast period.

 

According to TechSci Research report, “Clutch Friction Plate Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, Global Clutch Friction Plate Market was valued at USD 8.89 Billion in 2023 and is expected to reach USD 11.71 Billion by 2029 with a CAGR of 4.27% during the forecast period. 

The aftermarket segment is considered to be vital in the clutch friction plate market. Every now and then clutch friction plates wear out due to the normal usage of vehicles even if they are new. This results into continuous market for the aftermarket clutch friction plates to be used in maintaining the performance of the vehicles and also to also revitalize older models of the automobiles. In 2023, following this strategy, BorgWarner introduced a new series of clutch friction plates for aftermarket that is suitable for a large number of old car models. This expansion is suggestive of the increasing need for replacement parts in the aftermarket segment due to the need to repair rather than rebuy vehicles. The launch of these new products by BorgWarner points to the dominance of the aftermarket segment in the driving force of the market because the owners of vehicles and repair shops look for better replacement parts for aging vehicles.

The global clutch friction plate market is witnessing a consumer shift towards vehicles equipped with automatic transmissions, driven by factors such as convenience and the increasing prevalence of automatics in entry-level and mid-range vehicles. This shift poses a challenge for the clutch friction plate market, as the demand for manual transmissions diminishes. Manufacturers must strategize to adapt to this changing consumer preference. This may involve diversifying product offerings to include friction plates for automatic transmissions or focusing on niche markets where manual transmissions remain popular. Successfully addressing this challenge requires a keen understanding of consumer trends and the ability to pivot product strategies accordingly.

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Global Clutch Friction Plate Market is segmented by Type, Sales Channel, Application and Region.

Based on application, Passenger cars are the dominant segment in the clutch friction plate market due to several key factors. The sheer volume of passenger vehicles produced and sold globally far exceeds that of commercial or specialized vehicles. With millions of passenger cars on the road, there is a consistent and substantial demand for clutch friction plates, which are critical components in manual transmission systems. Passenger cars, traditionally featuring manual transmissions, have driven significant demand for clutch friction plates. Although automatic transmissions are gaining popularity, a large number of vehicles still use manual gearboxes, particularly in certain regions and among driving enthusiasts. This persistent use of manual transmissions ensures a steady need for clutch friction plates in the passenger car segment.

Growing automotive industry, especially in emerging markets like Asia-Pacific and South America, has further bolstered demand. As vehicle ownership increases in these regions, so does the need for clutch components. The expansion of automotive production in these areas directly contributes to the rising demand for passenger car clutch friction plates. Technological advancements and innovations in passenger cars also play a role. Manufacturers continually develop new models with improved performance and efficiency, often requiring upgraded or specialized clutch friction plates to match these advancements. This drives ongoing demand for high-quality and reliable clutch components.

Major companies operating in Global Clutch Friction Plate Market are:

• AISIN CORPORATION
• BorgWarner Inc.
• Schaeffler Automotive Aftermarket GmbH & Co. KG
• Valeo SA
• ZF Friedrichshafen AG
• Eaton Corporation plc
• EXEDY Corporation
• Mitsubishi Electric Europe B. V.
• HALDEX AB
• Setco Automotive Limited

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The global demand for clutch friction plates is rising, especially in emerging markets like Asia-Pacific, South America, and the Middle East, driven by increased vehicle production. Manufacturers must adapt by establishing new facilities and partnerships to meet regional needs and seize expansion opportunities. Addressing these market demands will support local automotive industries and align with global market trends.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“Clutch Friction Plate Market – Global Industry Size, Share, Trends Opportunity, and Forecast, Segmented By Type (Single Plate, Multi Plate), By Sales Channel (OEM and Aftermarket), By Application (Passenger Cars, Commercial Vehicles), By Region, Competition, 2019-2029F”, has evaluated the future growth potential of Global Clutch Friction Plate Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Clutch Friction Plate Market.

 

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