USD 5.40 billion Growth in Truck Clutch Market Size with 55% Contribution from APAC - 17,000+ Technavio Research Reports

NEW YORK, Sept. 5, 2022 /PRNewswire/ -- The "Truck Clutch Market Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the truck clutch market between 2021 and 2026 is USD 5.40 billion, as per the latest market analysis report by Technavio. The report predicts the market to witness an accelerating growth momentum at a CAGR of 6.5%. Technavio categorizes the global truck clutch market as a part of the global auto parts and equipment market within the global auto components market. Our report provides extensive information on the value chain analysis for the truck clutch market, which vendors can leverage to gain a competitive advantage during the forecast period. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

For more insights on the scope and value chain analysis, Read a FREE Sample Report.

Key Market Dynamics

• Market Driver: One of the key factors driving growth in the truck clutch market is the demand for newer generation commercial vehicles. Globally, activities such as trade, logistics, construction, mining, agriculture, transportation, and mining have increased significantly over the last two decades. Such activities have fueled demand for safety, comfort, and convenience functionalities in commercial vehicles in both developed and developing automotive markets, leading to strong year-over-year sales. The increasing sales of trucks with automated manual transmission systems are expected to drive the revenue of the global truck clutch market.
• Market Challenge: The technological constraints resulting in vehicle recalls will be a major challenge for the truck clutch market during the forecast period. The integration of automatic transmission systems in trucks involves advanced algorithms that contribute to the design and development of such complex systems. Since the average cost of automated transmissions falls in the $2,500-$4,000 range for the automaker, their R and D, production, maintenance, and high repair costs are add-on expenses, which make a significant negative impact on the financial stability of the involved parties and limit the scope of growth for the market in focus.

To learn about additional key market dynamics as you View FREE Sample Report right now!

Key Market Segment Highlights

The truck clutch market report is segmented by Application (Light-duty trucks and Medium and heavy-duty trucks) and Geography (APAC, Europe, North America, South America, and Middle East and Africa). 

Regional Opportunities: 55% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for the truck clutch in APAC. Market growth in this region will be faster than the growth of the market in other regions. The improved and stabilized socioeconomic conditions of countries across APAC have helped the region to become the fastest-growing market for the automotive industry. China, Japan, and Australia are the major contributors to the truck clutch market in APAC. This will facilitate the truck clutch market growth in APAC over the forecast period.

Revenue-generating Segment Highlights: The truck clutch market share growth in the light-duty trucks segment will be significant during the forecast period. The increasing demand for light-duty trucks has seen strong collaboration between component manufacturers and commercial vehicle OEMs. The business has grown significantly in terms of launches of new models of light-duty trucks and more adoption of light-duty trucks as the preferred mode of transport by several industries. 

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Some Companies Mentioned with their Offerings

• AB SKF
• BorgWarner Inc.
• Eaton Corp. Plc
• EXEDY Corp.
• H.R. Clutch
• Phoenix Friction Products
• Schaeffler AG
• Setco Automotive Ltd.
• The Gear Centre Group
• Tremec
• Valeo SA
• Wuhu Hefeng clutch Co. Ltd.
• ZF Friedrichshafen AG
• Access vendor-specific product offerings and strategic moves as you Download Sample PDF

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Key Topics Covered:

• Executive Summary
• Market Landscape
• Market Sizing
• Five Forces Analysis
• Market Segmentation by Application
• Customer landscape
• Geographic Landscape
• Vendor Landscape
• Vendor Analysis
• Appendix

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SOURCE Technavio