The Automotive Pressure Plate Market is expected to reach US$ 37,752.2 Mn by 2032, at 3.9% CAGR (2022-2032).The market for automotive pressure plates is primarily driven by the growing demand for smooth and fluent performance by engines, and technological improvements in automotive sectors with cutting-edge technologies around the globe.
Automotive pressure plates are one of the crucial components of vehicle transmission system. The market for automotive pressure plates has developed due to the rise in demand for passenger vehicles over the past few years. One of the key factors contributing to the global expansion of the automotive pressure plate market is growing vehicle production.
Attributes
Details
Market Size (2021)
US$ 24,784.0 Million
Market Size 2022
US$ 25,750.6 Million
Market Size 2032
US$ 37,752.2 Million
Value CAGR (2022 to 2032)
3.9%
Every vehicle with a manual transmission requires pressure plates. One of the driving factors of the global automotive pressure plate market during the forecast period of 2022-2032 is expected to be the advancement and improved vehicle manufacturing over the comfort and performance demand by end users. A positive outlook for the market is expected as a result of the development of innovative and enhanced clutch systems like the Dual Clutch Transmission (DCT) system, which was driven by the growing need for fuel-efficient automobile systems.
However, according to projections, the global car fleet on the road will create new chances for pressure plate sales in the aftermarket. The demand for pressure plates is expected to grow during the forecast period as a result of routine maintenance tasks and breakdowns. Additionally, manual clutches are less expensive than automatic clutches. This is expected to further fuel market growth for automotive pressure plates throughout the forecasted period.
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Historic Market Outlook for Automotive Pressure Plate
The analysis of the Automotive Pressure Plate Market estimates its value at US$ 25,750.6 Mn in 2022 and reveals a historical growth rate of less than 0.6% CAGR for the period of 2017 to 2021.
The global expansion of the automotive industry and many other industries has been hampered by the COVID-19 pandemic crisis. As a result of the imposed lockdown that forced people to stay at home, this outbreak has negatively impacted the majority of businesses around the world. The enforced lockdown affected vehicle sales, which in turn caused the worldwide automotive pressure plate market to drop.
However, it is anticipated that the global market for automotive pressure plates will grow beginning in 2021 due to end users' preferences for using personal vehicles more frequently than public transportation, which fuels the global automotive market. As a result of this, FMI’s automotive pressure plate market demand projection predicts a CAGR of 3.9% by 2032.
What are the Various Factors Driving the Automotive Pressure Plate Market?
The increase in car sales is directly correlated with the increase in demand for automotive components like pressure plates. The automobile industry will see a 30% increase in new car sales on the American market. High-power cars with excellent traction and acceleration capabilities are particularly in demand. As a result, it is expected that the rising demand for vehicles will also boost the demand for automotive pressure plates, which will fuel the market's expansion.
The development of improved and advanced clutch systems, such as the Dual Clutch Transmission (DCT) system, has been influenced by the growing need and demand for fuel-efficient automotive systems. This development is anticipated to significantly boost the growth of the market for automotive pressure plates.
Additional factors that are anticipated to support the growth of the automotive pressure plate market include the rising demand for quality products in the automotive industry and an increase in disposable income that has increased demand for passenger vehicles. As a result, as more automobiles are on the road, demand for automotive pressure plates is increasing, which is anticipated to accelerate market expansion throughout the forecast period of 2022–2032.
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Which Factors May Hinder the Automotive Pressure Plate Market Growth?
The global automotive pressure plate market is experiencing significant growth in the forecast period, but there are some factors that can hinder the global market. The increasing preference for automated gearboxes is one of the main reasons anticipated to restrain the growth of the automotive pressure plate market. Around the world, electric automobiles are likewise becoming more and more popular. During the projected period, this is expected to restrain the expansion of the automotive pressure plate market.
As a result of the rising popularity of automatic transmissions due to high preferences for driving comforts, increasing demand for EVs in the automotive sector that are more economical and environmentally concerned, is predicted to act as a significant restraint and obstruct the growth of the automotive pressure plate market in the forecast period.
What is the Regional Analysis of the Automotive Pressure Plate Market Share?
A significant growth rate is expected for the automotive pressure plate market throughout the forecasted period. Due to the growing fleet size of vehicles, particularly in India and China, Asia Pacific is estimated to have a significant share of the worldwide automotive pressure plate market. The market for automotive pressure plates is anticipated to increase significantly in North America.
Automobile manufacturing plants have been developed in Europe and North America, and it is anticipated that they will together account for a significant percentage of the global market. Furthermore, the rapidly expanding demand for automotive parts in developed countries like the U.S., Germany, and others is projected to fuel the expansion of the automotive pressure plate market in this region. It is projected that the automotive pressure plate market will expand steadily in the Middle East, Africa, and Latin America.
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Market Competition
Key players operating in the automotive pressure plate market include MACAS Automotive, Hebei Tengda Auto Parts Co., Ltd., S. K. Auto Industries, Setco Automotive Ltd., ANAND Group, Apls Automotive Industries Private Limited, Raicam Clutch Ltd., Makino Auto Industries Private Limited, SASSONE SRL, GOLDEN Precision Products Private Limited, RSM Autokast Ltd., California Custom Clutch Corporation, and others.
Scope of the Report
Attribute
Details
Growth Rate
CAGR of 3.9% from 2022 to 2032
Base Year for Estimation
2021
Historical Data
2017 to 2021
Forecast Period
2022 to 2032
Quantitative Units
Revenue in USD Million, Volume in Units and CAGR from 2022 to 2032
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered
Product Type
Vehicle Type
Clutch Type
Distribution Channel
Region
Regions Covered
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa
Key Countries Covered
USA
Canada
Mexico
Brazil
Germany
Italy
France
UK
Spain
Benelux
Russia
China
Japan
South Korea
India
ASEAN
ANZ
GCC Countries
Turkey
South Africa
North Africa
Key Companies Profiled
MACAS Automotive
Hebei Tengda Auto Parts Co., Ltd.
S. K. Auto Industries
Setco Automotive Ltd
ANAND Group
Apls Automotive Industries Private Limited
Raicam Clutch Ltd
Makino Auto Industries Private Limited
SASSONE SRL
GOLDEN Precision Products Private Limited
RSM Autokast Ltd.
California Custom Clutch Corporation
Others
Customization & Pricing
Available upon Request
Key Segments Profiled in the Automotive Pressure Plate Market Report Automotive Pressure Plate Market
By Product Type, Automotive Pressure Plate Market is segmented as:
Coil Spring Type
Diaphragm Type
By Vehicle Type, Automotive Pressure Plate Market is segmented as:
Passanger Vehicle
Compact Car
Midsize Car
SUV
Luxury
Light Commerecial Vehicle (LCV)
Heavy Commercial Vehicles (HCV)
By Clutch Type, Automotive Pressure Plate Market is segmented as:
Multi-Plate Friction Clutch
Single-Plate Friction Clutch
Cone Clutch
By Distribution Channel, Automotive Pressure Plate Market is segmented as:
OEM
Aftermarket
By Region, Automotive Pressure Plate Market is segmented as:
North America
Latin America
Europe
South Asia & Pacific
East Asia
Middle East & Africa
Frequently Asked Questions
What was the value of the Automotive Pressure Plate Market in 2021?
In 2021, the value of the Automotive Pressure Plate Market reached over US$ 24,784.0 Mn.
At what rate is the Automotive Pressure Plate Market projected to expand during the forecast period?
During the forecast period, the Automotive Pressure Plate Market is estimated to expand at a CAGR of 3.9% during 2022-2032.
By 2032, what will the value of the Automotive Pressure Plate Market be?
The Automotive Pressure Plate Market is projected to reach US$ 37,752.2 Mn by the end of 2032.
Which region is set to lead the Automotive Pressure Plate Market?
East Asia region is projected to lead the Automotive Pressure Plate market in the forecast period.
Which are the top players in the Automotive Pressure Plate Market?
The key players operating in the Automotive Pressure Plate market are S. K. Auto Industries, Setco Automotive Ltd, ANAND Group, Apls Automotive Industries Private Limited and Raicam Clutch Ltd.
