Clutch Friction Plates Market Projected to Reach USD 13.94 billion, at a 3.20% CAGR by 2032 – Report by Market Research Future (MRFR)

Clutch Friction Plates Market Increasing Focus on Fuel Efficiency and Emission Reduction to Drive the Global Market

New York, US, July 11, 2023 (GLOBE NEWSWIRE) — According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Clutch Friction Plates Market Research Report Information by Region, Product Application, and Product Type – Forecast Till 2032”, the Clutch Friction Plates market is predicted to grow substantially over the assessment timeframe from 2023 to 2032 at a healthy CAGR of around 3.20%. The reports even share predictions regarding the market’s growing revenue share, which will likely reach USD 13.94 Billion by the end of 2032. As per the reports, the market was worth nearly USD 10.5 Billion in 2022.

Clutch Friction Plates Market Overview:

The global Clutch Friction Plates industry has advanced enormously.

Clutch Friction Plates Market Competitive Analysis

The catalog of the top leaders across the global Market for Clutch Friction Plates includes players such as:

• Champion Technologies
• Kema Material
• Schaeffler
• TMD Friction Services
• Brembo
• TRW Automotive Holdings
• BorgWarner
• ACDelco
• Honeywell International
• Aisin Seiki
• Ferodo
• Carlisle Brake & Friction
• Cook Bonding & Manu
• Clutch Auto
• Among others.

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Clutch Friction Plates Market USP Covered

Market Drivers

The global Clutch Friction Plates industry has advanced enormously in recent years. The primary aspect causing a surge in market performance is the increased global automotive industry growth. Furthermore, factors such as population growth, rising disposable income, and rapid industrialization are also likely to positively impact the growth of the market over the assessment period.

Market Restraints

However, some aspects may limit the market’s performance. The main aspect limiting the market’s development is the high costs linked. Furthermore, the increased technology causing volatility in the prices of vehicles is also likely to restrain the growth of the global market.

Report Scope:

Report Metrics	Details
Market Size 2032	2032: USD 13.94 billion
CAGR during 2023-2032	3.20% CAGR
Base Year	2022
Forecast	2023-2032
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product Type, Product Application
Key Market Opportunities	Increasing focus on fuel efficiency and emission reduction
Key Market Dynamics	Advancements in material technology, such as the development of high-performance friction materials

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Clutch Friction Plates Market COVID-19 Impact

The global health hazard of COVID-19 has impacted most industry operations in the last few years. The health emergency affected the industry operations and tremendously impacted public health in nearly 225 nations. The Clutch Friction Plates industry was no exception to this. The supply chain disruptions and partial or complete lockdowns around various regions worldwide led to several disruptions in market operations. However, with the rapid recovery of the global economy, the market is predicted to showcase substantial development over the review era. In addition, several governmental organizations and key market players are collaborating and, therefore, introducing solutions like innovations and research and development processes through excellent funding that will positively impact the global market for Clutch Friction Plates over the review timeframe.

Clutch Friction Plates Market Segment Analysis

Among all the product types, the DSG segment secured the leading position across the global market for clutch friction plates in 2022, with the largest contribution of nearly 42.7%. The gearbox system, particular application requirements, planned performance, and vehicle type all have a role in the clutch friction plate type choice.

Among all the product application areas, the passenger vehicle segment secured the leading position across the global market for clutch friction plates in 2022, with the largest contribution of nearly 59.4%. The main parameter causing a surge in the performance of the market segment is the large variety of vehicles used for personal transportation.

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Clutch Friction Plates Market Regional Analysis

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World.

The research documents by MRFR indicate that The Asia-pacific Region ensured the leading position across the global Clutch Friction Plates industry in 2022 with the largest contribution of nearly 51.40%. The regional market is projected to showcase the maximum growth rate over the assessment era. India, China, and Indonesia are the leading development contributors in the region. Further, the China Clutch Friction Plates Market held the largest market share, and India was the fastest-growing market in the Asia-pacific Region. The main aspect supporting regional market expansion is the growing middle-class population across the region. Furthermore, factors such as the fast urbanisation and increased disposable income are also projected to impact the regional market performance over the coming years positively.

The North American Region secured a substantial position across the global Clutch Friction Plates industry in 2021. The region has Mexico, Canada, and the U.S. as the leading development contributors. Further, the U.S. Clutch Friction Plates Market held the largest market share, and Canada was the fastest-growing North American Region. The main aspect supporting regional market expansion is the need for advanced clutch friction plates across the region. Furthermore, factors such as a preference for high-performance vehicles, strict pollution regulations, and technical improvements are also projected to positively impact the performance of the regional market over the coming years.

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The European Region anticipates ensuring the second spot across the global Clutch Friction Plates industry over the coming years. The region has France, Germany, and the U.K. as the leading development contributors. Further, the German Clutch Friction Plates Market held the largest market share, and the U.K. was the fastest-growing Market in Europe. The region’s main aspect supporting regional market expansion is the increasing number of luxury and high-performance automobiles across the region. Furthermore, the presence of prominent automakers is also believed to be one of the crucial aspects causing a surge in the development of the regional market in recent years.

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