DUBLIN, September 23, 2021--(BUSINESS WIRE)--The "Global Automotive Fly Wheel Market By Vehicle Type (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles), By Product Type (Single Mass, Dual Mass, Others), By Demand Category, By Technology, By Material, By Region, Competition, Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive Fly Wheel Market is driven by the increasing demand for light weight and energy efficient vehicles that require lesser fuel.
Additionally, increasing consumer needs for more comfort, enhanced safety, aesthetics, among others are further expected to propel the market growth. Furthermore, technological advancements and new product launches by the major OEMs operating in the market is further expected to create lucrative opportunities for the market growth through 2026.
However, increased adoption of electric vehicles can hamper the market growth over the next few years. Besides, the increasing trend of using refurbished equipment or just repairing them rather than replacing is further impeding the market growth during forecast period.
The Global Automotive Fly Wheel Market is segmented based on vehicle type, product type, application, electric vehicle type, demand category, technology, material, company and region.
Based on the vehicle type, the market has been categorized into passenger cars, light commercial vehicles and heavy commercial vehicles. The passenger cars segment is expected to dominate the market on account of the increasing sales and production of passenger cars.
Based on product type, the market can be fragmented into single mass, dual mass and others. The single mass is expected to dominate the market owing to the low cost and simple design of these. Additionally, advantages such as ability to use it repetitively after resurfacing, light weight, low cost, among others associated with single mass is further expected to drive the market growth.
Based on material, the market can be fragmented into aluminium, cast iron and steel. Steel is expected to dominate the market on account of its high strength which enhances durability of automotive fly wheels. The aluminium segment is expected to grow significantly on account of its increasing use in sports cars on account of its less weight and high speed regulation.
Regionally, the Global Automotive Fly Wheel Market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. North America is expected to dominate the overall automotive fly wheel market owing to the presence of large number of OEMs operating in the market in the region.
While, the Asia Pacific region is expected to witness significant growth during forecast period owing to the increasing vehicle production and sales in the region. Additionally, low cost of labor, reduced import duties and opportunity to setup manufacturing facilities in the region at an affordable cost.
Major companies are developing advanced technologies and launching new services in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
The major players operating in the Global Automotive Fly Wheel Market are
ZF Friedrichshafen AG
Skyway Precision Inc.
American Axle & Manufacturing, Inc.
JMT Auto Limited
Lavacast Pvt. Limited
LMB Euroseals (PTY) LTD
Tilton Engineering Inx.
AISIN SEIKI Co., Ltd.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Global Automotive Fly Wheel Market, By Vehicle Type:
Light Commercial Vehicles
Global Automotive Fly Wheel Market, By Product Type:
Global Automotive Fly Wheel Market, By Demand Category:
Global Automotive Fly Wheel Market, By Technology:
Global Automotive Fly Wheel Market, By Material:
For more information about this report visit https://www.researchandmarkets.com/r/g91bn5
View source version on businesswire.com: https://www.businesswire.com/news/home/20210923005403/en/
Laura Wood, Senior Press Manager
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