Automotive Flywheel Market Competitive Insights and Precise Outlook 2021-2027

Automotive Flywheel Market
Automotive Flywheel Market

A mechanical tool used to store rotational energy is called a flywheel. The global market for automotive flywheels is expanding primarily as a result of rising consumer demand for fuel-efficient vehicles. Over the projected period, the adoption of dual mass flywheels by various Original Equipment Manufacturers (OEM) to lighten the engine by creating lightweight components to improve fuel efficiency is anticipated to drive market expansion.

The Automotive Flywheel Market is also positioned for growth because to developments in kinetic energy recovery systems. The energy from the wheels is continuously transferred to the flywheels using a variable transmission system in a flywheel-based kinetic energy recovery system.

The goal of a flywheel-based kinetic energy recovery system is to mechanically store and transfer kinetic energy from the rear driveshaft to another source. Some of the top businesses that utilise flywheel equipment in their automobile goods include GKN plc and Volvo. For instance, the automotive and aerospace company GKN plc, based in England, announced the creation of an electric flywheel hybrid system for buses in 2015.

One of the major drivers of the global rise in demand for passenger automobiles and sport utility vehicles is the Automotive Flywheel Market.

Additionally, rising passenger car sales offer the global automotive flywheel industry a chance for expansion. 'Organisation Internationale des Constructeurs d'Automobiles,' a French group, reports that passenger automobile sales increased from 66.3 million units in 2015 to 69.5 million units in 2016. According to application, the passenger car segment dominated the worldwide automotive flywheel for market in 2016 and is anticipated to continue dominating the market over the course of the forecast period.

Asia Pacific has the greatest market share in the global market for automotive flywheels, according to market research. The global automotive flywheel for market is divided into regions based on geography: North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. In terms of the worldwide automotive flywheel for market, Asia Pacific dominated in 2016 and is expected to continue to do so during the projection period. The Asia Pacific region's Automotive Flywheel Market is anticipated to increase as more economies, including China, Japan, and India, adopt continuously variable and dual clutch transmissions (CVTs) and automated manual transmissions (AMTs), respectively.

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