Global Automotive Flywheel Market 2017-2021
About Automotive Flywheel
There is a growing trend in the automotive industry to store energy in vehicles to facilitate continuous energy source. Flywheels are installed to serve this purpose. The inclination toward innovating more efficient engines to run on high speed are pushing OEMs to use flywheels. Flywheels are heavy wheels, which takes a lot of force to spin around. A flywheel has a large-diameter wheel with spokes, along with a heavy rim attached to it. It is used to store energy in the form of kinetic energy.
Technavio’s analysts forecast the global automotive flywheel market to grow at a CAGR of 4.88% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive flywheel market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Flywheel Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive flywheel market: Schaeffler, Linamar, ZF and Valeo.
Other Prominent Vendors in the market are: EXEDY, Mancor, Metaldyne, Skyway Precision and Waupaca Foundry.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing penetration of dual-mass flywheel. There is a growing trend toward increasing the torque of the engines, and modern engines have the ability to be driven at high rpm. OEMs are introducing lightweight components to reduce the weight of the engines and to improve fuel economy.”
According to the report, one driver in the market is low penetration of cars in emerging economies. The growing penetration of passenger cars in emerging economies will increase the growth of the automotive flywheel market during the forecast period. There are approximately 800 cars for every 1,000 people in the US. In emerging countries, such as China, the ratio comes down to 105 cars for 1,000 people and in India even lesser, 20 cars for every 1,000 people. The automotive industry is expected to expand in emerging countries like China, India, Brazil, South Korea, Indonesia, and parts of Eastern Europe.
Further, the report states that one challenge in the market is increase in on-demand taxi operators and car sharing services. In China, about 203 million people have driving licenses but do not own cars. This segment depends on public transportation or car rentals for commuting. However, the number of people opting for on-demand taxi operators are increasing due to government restrictions regarding owning a private car, lack of parking space for self-drive rental cars, and aggressive discount offers given by on-demand taxi operators to capture more customers.
Schaeffler, Linamar, ZF, Valeo, EXEDY, Mancor, Metaldyne, Skyway Precision and Waupaca Foundry.
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