Focus on Improving Efficiency of Automotive Transmission Systems to Augment Automotive Dual Mass Flywheel Market
The automotive sector has evolved at a rapid pace over the past couple of decades, owing to technological advancements and continual innovations. Automotive transmission systems have also witnessed a fair share of development in recent times. For instance, significant improvement in speed number, widening ratio spread, and enhanced efficiency & shift quality are some of the major areas wherein advancements have occurred in the automotive transmission systems sphere. In recent years, the automotive sector is gradually moving toward electrification due to stringent legislations and guidelines pertaining to vehicle emission. The global demand for passenger vehicles, heavy commercial vehicles, and light commercial vehicles has experienced a steady growth over the past few years. However, the demand in 2020 has witnessed an unforeseen decline due to the COVID-19 pandemic.
The automotive industry in major developing countries including India and China are expected to witness a modest growth over the next couple of years. The growth rate of the global automotive dual mass flywheel market is expected to take a hit in 2020. However, as the market will start to recover in the latter half of the forecast period, market players should focus on tapping into abundant opportunities in the Asia Pacific region. At the back of these factors, along with the speculated rise in the demand for automotive vehicles, the global automotive dual mass flywheel is expected to attain a market value of ~US$ 8 Bn by the end of 2030.
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Growing Adoption of Dual Mass Flywheel to Enhance Engine Performance to Fuel Market Growth
Market players in the current automotive dual mass flywheel market are expected to take into account the evolving landscape of the automotive sector and align their product development operations with modern-day industrial requirements. In the current scenario, automotive dual mass flywheels play an imperative role in minimizing vibration, reducing noise reduction within the automotive powertrain, addressing challenges associated with engine knocking, and enhancing the overall smoothness of the shift, among others. At present, theoretical and experimental research activities within the automotive dual mass flywheel market are on the rise and the focus is on gaining insights pertaining to the torsional performance of the dual mass flywheel market during the forecast period. Several studies are emphasizing on the effect of automotive dual mass flywheels on the overall performance of torsional vibration in hybrid electric vehicles.
Recent research activities are increasingly investigating the potential of motor torque control techniques to minimize torsional vibration. Market players operating in the current automotive dual mass flywheel market are also focusing on automotive dual mass flywheel dynamics modeling.
Surge in Demand for Electric Vehicles Likely to Drive Innovations
As the automotive sector continues to make a gradual transition toward hybrid and electric vehicles, participants of the global automotive dual mass flywheel market are expected to roll out flywheels that are in tune with the demands of automotive transmission systems of hybrid and electric vehicles. Companies operating in the current market landscape are increasingly deploying resources to improve the noise vibration and harshness (NVH), shifting, and control technology of electric vehicles. In addition, companies are also focused on addressing the existing challenges in automotive transmission, including noise reduction wherein clunking, rattling, whining, bearing, and shifting are the main sound types. The demand for automotive dual mass flywheel is on the rise, particularly from automotive manufacturers to minimize fluctuation between the transmission system and engine. As shifting strategies and control technologies continue to mature, owing to technological advancements, they are likely to accelerate innovations during the forecast period.
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With the advent of the COVID-19 pandemic, market players are expected to focus on marketing their products on digital platforms to enhance their brand visibility. Furthermore, market players should are also expected to collaborate with regional market leaders to improve their market share. While inorganic growth strategies are likely to gain significant traction, companies should assess the repercussions of the COVID-19 pandemic on their business structure and formulate effective strategies to stay relevant in the current market landscape. The growing demand from automotive manufacturers is likely to remain the key for the development of global automotive dual mass flywheel market in the coming years.