New York, US, April 26, 2022 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Automotive Pressure Plates Market” information by Product Type, by Vehicle Type, by Distribution Channel and Region – Forecast to 2028” market size to grow at a compound annual growth rate of 5% by 2028.
Market Scope:
In all types of automotives, pressure plates are critical for clutch operation. It's a spring-loaded mechanism that works with the flywheel and clutch disc to engage or disengage. Pressure plate producers are responsible for ensuring that their products are highly resistant to stress circumstances such as excessive temperature. In addition, funds are being allocated to the research and development of pressure plates that will allow clutch systems to be reduced even further. Depending on the size of the clutch system, pressure plates are required for every vehicle. Because they are an integral part of the clutch system and are typically offered in big quantities.
Dominant Key Players on Automotive Pressure Plates Market Covered are:
- California Custom Clutch Corporation (US)
- Anand Group (India)
- K Auto Industries (India)
- Raicam Clutch Ltd (India)
- Makino Auto Industries (India)
- Hebei Tengda Auto Parts Ltd (China)
- RSM Autokast (India)
- Golden Precision Products Pvt Ltd (India)
- Sassone SRL (Italy)
- Apls Automotive (India)
- Setco Automotive Ltd (India)
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Market USP Exclusively Encompassed:
Market Drivers
The market for automotive pressure plates has been impacted by an increase in demand for electric and automated vehicles in recent years. According to this perspective, rising customer preferences for semi-automatic and fully automated transmission systems have contributed to the rapid growth of the automotive pressure plate market. There has been an increase in demand for automobiles in recent years. The market for automotive pressure plates has grown as a result of the growth. Additionally, in the worldwide context, there has been an increase in automotive production, which has fueled the expansion of the pressure plate market. In addition, the automobile industry will see a 30 percent increase in new car sales in the United States alone. Furthermore, there has been a surge in demand for high-capacity vehicles with excellent acceleration and traction. This will also contribute to the growth of the automotive pressure plate market.
The selling of automotive pressure plates is heavily reliant on the type of vehicle. Furthermore, the global population's disposable income has increased. As a result, demand for passenger vehicles and other types of autos for daily transportation has increased. As a result, the need for car pressure plates has increased. Furthermore, manual clutches are less expensive than automatic clutches. This will improve the demand for vehicle pressure plates in the future years.
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Market Restraints:
Automatic transmissions have grown in popularity around the world as people's tastes for driving conveniences have grown. Furthermore, automatic transmission clutches are more fuel-efficient than manual transmission clutches. Furthermore, worldwide pressure to reduce carbon emissions has increased demand for electric vehicles. Manual clutches, on the other hand, are rarely used in electric automobiles. The aforementioned reasons may stifle the automotive pressure plate market's growth pace.
The demand for automated clutch transmissions has been fueled by the convenience and comfort of driving. This will have a negative influence on the sales of automobile pressure plates. Furthermore, the automobile sector as a whole is experiencing a severe semi-conductor shortage, which has forced many large corporations to close operations before 2020. This influenced car sales, which in turn influenced demand in the automotive pressure plate industry.
Segmentation of Market Covered in the Research:
Coil spring and diaphragm pressure plates are the two types of automobile pressure plates.
The market is divided into single plate friction, multiple frictions, and cone clutches based on clutch type.
In the commercial sector, the market includes passenger automobiles, light commercial vehicles, and heavy commercial vehicles.
The automobile pressure plate market sells its goods either through the original equipment manufacturer or through the aftermarket.
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Regional Analysis
North America, Europe, Asia-Pacific, and other sections of the world have all been segmented according to geography. In the Asia-Pacific region, the automotive pressure belts market will rise rapidly. Growing demand from the middle class, which is expected to result in an increase in fleet vehicles, will be contributing factors. Because of the rising adoption of luxury vehicles in recent years, North America will be the second-largest region for automotive pressure plate market growth.
There has been an increase in demand for cost-effective manual clutches in the Middle East and Asia, which is projected to enhance demand in the automotive pressure plate market. Furthermore, for the past several years, demand for automobiles has been expanding in regions such as Europe and other parts of the world.
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COVID-19 Impact on the Global Automotive Pressure Plates Market
COVID-19 has had a number of negative effects on market operations, with enterprises shutting down or working at reduced capacity. The limited movement of components across national and international borders has had a significant impact on automotive demand.
Furthermore, there has been a restriction on travel, which has lowered demand for vehicles, affecting the growth of the automotive pressure plate industry. Additionally, market mobility has been restricted, limiting enterprises' ability to introduce new models. Automobiles are a large business that is heavily reliant on components made in other minor units. As a result of the severe lockdowns in several countries, there is a big gap in the supply chain, which has altered the automotive pressure plate market.
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