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The global automotive clutch industry is aided by the thriving automobile industry. The growing demand for electric vehicles owing to the rising environmental concerns is further supporting the industry growth. As clutches form an indispensable part of most of the vehicles, the expansion of the automobile sector and increased demand for cars are the major drivers for the automotive clutch industry. The rapid industrialisation and urbanisation are aiding the growth of the automobile sector. The increased advancement in technology is further driving the demand for automation in various sectors. The emerging nations, owing to rapid urbanisation and rising disposable incomes, are expected to provide various growth opportunities to the market. Some of the leading players in the global automotive clutch industry include ZF Friedrichshafen and Schaeffler Group (OTCMKTS: SCFLF).
The growing demand for high performance systems that can deliver maximum power density in motor sport industry is also aiding the market growth. In April 2020, Schaeffler announced that its wholly owned subsidiary, Compact Dynamics, has been selected as the exclusive supplier of the hybrid system for FIA World Rally Championship (WRC) starting from 2022 season to 2024, owing to the company’s high-performance hybrid systems. Further, with the rising consumer demand for enhanced products range, the leading companies in the automotive clutch industry are increasingly collaborating, which is expected to boost the market growth. In March 2020, ZF Friedrichshafen and the Wolong Electric Group Co., Ltd. officially signed off on their joint venture, Wolong ZF Automotive E-Motors Co. Ltd., to develop and produce electric motors and electric components for various vehicle applications at the Chinese Shangyu location, among others. This will allow ZF Friedrichshafen to enhance its penetration in the Chinese market, thus, enhancing its market position globally. Such developments are expected to aid the growth of the global automotive clutch industry over the next five years.
Market Breakup by Vehicle Type, Transmission Type, Clutch Type, Clutch Disk/Plate Size, Material Type, Distribution Channel and Regions:
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The major players in the global automotive clutch market are Magneti Marelli, Schaeffler Group, and ZF Friedrichshafen, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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