Dublin, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The "Global Automotive Flywheel Market Size, Share & Industry Trends Analysis Report By Type (Single Mass and Dual Mass), By Transmission Type, By Distribution Channel (OEM and Aftermarket), By Vehicle Type, By Regional Outlook and Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global Automotive Flywheel Market is poised for remarkable growth, projected to achieve a significant value of $9.5 billion by 2030.
The market is expected to experience a steady Compound Annual Growth Rate (CAGR) of 3.7% during the forecast period. The utilization of commercial vehicles in developing countries, spurred by stringent safety regulations and high local content requirements, has contributed to a 30% market share in 2022.
Robust research and development efforts in countries like the US, India, and China, where vehicle manufacturing is a cornerstone of economic growth, have led to the production of millions of vehicles globally. For instance, in 2022 alone, China produced 23,836,083 vehicles, India produced 4,439,039 vehicles, and the United States manufactured 1,751,736 vehicles, according to the OICA.
Moreover, the rise of international automakers like General Motors, Hyundai, Kia, Renault, and Volvo, which are expanding their manufacturing capacities in emerging economies through partnerships with local manufacturers, is anticipated to drive market growth. Factors influencing the market include the increasing adoption of continuous variable transmission (CVT) and dual-clutch transmission (DCT), ongoing technological advancements, and the relatively lower energy density and higher component costs.
Modern vehicles typically utilize two types of transmission systems: dual-clutch transmission (DCT) and continuously variable transmission (CVT). DCT, an automatic transmission with two clutches, enables smoother and quicker gear shifts by engaging and disengaging clutches during gear changes.
The automotive industry has witnessed consistent improvements in kinetic energy recovery systems, leading to enhanced flywheel designs and materials. Prominent market players are expected to seize numerous growth opportunities due to technological advancements in kinetic energy recovery technologies throughout the forecast period.
However, the adoption of flywheel energy storage systems (FESS) faces certain challenges. While FESS provides higher power output in Watts (W) compared to batteries, it has limitations in storing as much energy in Watt-Hours (Wh) for longer periods. The specialized components required for FESS operation at high speeds with balanced mechanical performance, such as magnetic bearings, contribute to higher capital costs. Consequently, FESS adoption for long-term energy storage might be limited by these cost factors.
Scope of the Study
The market study encompasses the following segments:
- Type: Single Mass, Dual Mass
- Transmission Type: Manual Transmission, Semi-Automatic & Automatic Transmission, Continuously Variable Transmission
- Distribution Channel: OEM, Aftermarket
- Vehicle Type: Passenger Vehicle, Commercial Vehicle
Key Market Players
List of Companies Profiled in the Report:
- Ford Motor Company
- Schaeffler AG
- Valeo SA
- ZF Friedrichshafen AG
- Aisin Corporation (Toyota Motor Corporation)
- EXEDY Globalparts Corporation (EXEDY Corporation)
- AMS Automotive LLC
- Pioneer Automotive Industries LLC (Lodi Group)
- Skyway Precision, Inc.
- SPEC Clutch, Inc.
Unique Offerings
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For more information about this report visit https://www.researchandmarkets.com/r/j0200w
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