DUBAI, UAE, Sept. 8, 2021 /PRNewswire/ -- As per the market research study by FMI, the global dual-clutch transmission market valuation is projected to total US$ 24 billion in 2021. In response to the rising integration of dual-clutch transmissions in passenger and commercial vehicles, the market is estimated to exhibit a year-on-year (YoY) growth of 6.3% in 2020-2021.
Historically, the dual-clutch transmission registered a stellar growth at a CAGR of 19% between 2016 and 2020. However, due to the suspension of manufacturing activities across various industries including automotive amidst the COVID-19 pandemic and decline in automotive sales across North America and Europe, the market is expected to expand at 6% CAGR over the forecast period 2021 to 2031.
A substantial rise in demand for passenger cars and commercial vehicles has been witnessed in the last few years. According to the International Energy Agency, more than 88 million cars were sold globally in the year 2019, out of which 25 million cars were sold in China alone.
Dual-clutch transmission effectively enhances the driving experience as it improves acceleration and offers smooth gear shifting, therefore, they are progressively being used in vehicles across developing economies such as China, South Korea, India, and Brazil. This, coupled with the rising adoption of hybrid vehicles across the globe, will create attractive sales opportunities over the forecast period.
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"Increasing demand for green solutions to improve vehicle performance and ascertain higher driving safety with less carbon emission will encourage automotive manufacturers to include dual-clutch transmission systems in vehicles," says the FMI analyst.
Key Takeaways from FMI's Dual-Clutch Transmission Market Analysis
- Passenger vehicles are anticipated to dominate the vehicle type segment, exceeding a valuation of US$ 4,930 by the end of 2021.
- The U.S. is expected to lead the North America market, owing to the rising product innovations in the dual-clutch transmission market.
- Germany, home to the leading automotive manufacturers in the world, is expected to emerge as a remunerative market for dual-clutch transmission in Europe.
- The market in India is estimated to register substantial growth, supported by the growing inclination of customers towards hybrid small and medium-sized passenger vehicles.
- Favored by the increasing demand for passenger cars, China is forecast to remain the most lucrative market in the assessment period.
- Growing awareness regarding low carbon footprint technologies is driving the market growth.
- Surging demand for passenger cars and commercial vehicles worldwide is fueling the demand for dual-clutch transmissions.
- Increasing adoption of hybrid vehicles is accelerating the sales of dual-clutch transmissions.
- Decline in the use of dual-clutch transmissions in vehicles manufactured and sold across North America and Europe is impeding the market growth.
- High cost of dual-clutch transmissions compared to conventional ones is hampering sales in the automotive landscape.
Discover more about the dual-clutch transmission analysis with figures and data tables, along with the table of contents. Download Market Shares of Leading Players@ https://www.futuremarketinsights.com/askus/rep-gb-428
Manufacturers in the dual-clutch transmission market are adopting various on inorganic strategies such as strategic collaborations and mergers and acquisitions to gain a competitive edge in the highly dynamic market and cast a wider net on the high-growth segments. For instance,
- In October 2020, BorgWarner, an American multinational automotive supplier, confirmed the acquiring a specialist in electronic products, Delphi Technologies. The acquisition will help the company to strengthen its product portfolio and assist in ongoing product innovations.
- In October 2020, Tata Technologies, a company based in India, announced collaborating with GKN Automotive, a multinational manufacturer of driveline components to open a global centre for e-mobility technology development. The strategy will assist the company to focusing on engineering capabilities for OEMs and product development.
Some of the key players operating in the dual-clutch transmission market profiled by FMI are:
- ZF Friedrichshafen AG
- BorgWarner Inc.
- GKN Driveline
- Magna International Inc.,
- Continental AG
- Allison Transmission
More Valuable Insights on Dual-Clutch Transmission Market
FMI, in its new report, offers an unbiased analysis of the global dual-clutch transmission market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in dual-clutch transmission market with detailed segmentation:
By Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
By Product Type:
- Dry Clutch
- Wet Clutch
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific excluding Japan
- Middle East and Africa (MEA)
For any Queries Linked with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-428
Key Questions Covered in the Report
- The report offers insight into dual-clutch transmission market demand outlook for the forecast period 2021-2031
- The market study also highlights projected sales growth for dual-clutch transmission market between 2021 and 2031
- Dual-clutch transmission market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Dual-clutch transmission market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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