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Automotive Flywheel Market Segmented By vehicle type such as Passenger vehicle, Light commercial vehicle and Heavy commercial vehicle with sale channels such as OEM and Aftermarket
The automotive industry has significantly shifted towards light weighing and enhancing performance over past few decades. Companies has been continuously giving efforts to improve both non-functional and functional components of an vehicle, one such component is flywheel. Flywheels is an integral part of all engines of automobiles, without which the engine seize to work.
In an automotive engine operating on either four stroke or two stroke the power is produced only in power stroke and all the other stages require external power, and for this reason flywheel is used. Flywheels are designed in such a way that it can have a high moment of inertia so that it can absorb and store extra energy during power stroke. This stored energy is provided back to crank shaft for the other three stroke, namely suction, compression and exhaust strokes.
Other than this it also removes the fluctuation in output power of the engine so that the vehicle runs smoothly. Recently the manufacturers are more focused towards decreasing the weight of the engine as well as increasing the efficiency, this is done to reduce the carbon emission of the vehicle for which lighter material flywheel with high moment of inertia is required. So the market for flywheel is been witnessing hefty investments in R&D to manufacture more efficient, lighter flywheel with higher energy storage capacity.
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It is the R&D carried out on flywheel material which has significantly increased the efficiency of the engine in the recent years. Also, growth in the automobile sector is an important driving factor associated with the automotive flywheel market. Also, the increasing demand for vehicles with reduced fuel consumption, lighter weight and higher efficiency is anticipated to drive automotive flywheel market. Apart from this, the demand for flywheel is anticipated to witness a direct-correlation with the growth of automotive production and sales.
However, increasing adoption of electric vehicle restraint to the growth of the global automotive flywheel market. The rising trend for repair rather than replacing is a major restraint in the aftermarket.
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Europe, with large number of automotive component technology leaders based out the region is anticipated to remain the innovation hub in the global automotive flywheel market. With the healthy growth of automotive sales in EU5 countries, the market is also expected to witness significant growth in the demand.
North America also has a large number of automotive OEMs based out in the region, primarily U.S. Thus making U.S. a prime market for automotive flywheel. However, in terms of demand Asia Pacific will lead the overall market as the region accounts for a major share of the global automotive production. India, China and ASEAN region are anticipated to remain the major growth contributor in the market. The market in the Middle East & Africa region will witness significant demand for automotive flywheel from the aftermarket and demand from OEMs is anticipated to remain relatively low.
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Some of the examples of the market participants operating across the value chain of the global Automotive Flywheel Market are:
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