Flywheel Market to expand at a CAGR of 4.5% by 2026; New TMR Report Explores Impact of COVID-19 Outbreak on Market

Flywheel is an energy storage disc that primarily reduces the fluctuation of energy by absorbing the extra energy produced at power stroke of the engine. Automotive flywheels are circular structures that are generally made of steel or cast iron. The main function of the automotive flywheel is to stock energy from each piston’s power stroke, and then send it to the crankshaft so that it continues rotating effortlessly through the next power stroke. The secondary function is to dampen damaging torsional spikes caused by engine vibration. Automotive flywheels are bolted to the engine crankshaft and serve as the mounting-surface of the clutch assembly. During engagement, the disc is clamped between the pressure plate and flywheel, resulting in power transfer from the engine to the transmission.

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The global automotive flywheel market is expanding due to rising penetration of semi-automatic transmission systems such as dual clutch transmission and automated manual transmission, coupled with the increasing production of vehicles. Increasing production of vehicles is a major factor driving the automotive flywheel market. Increasing population, urbanization, and purchasing power of the population are the major factors boosting the production of vehicles. Increasing per capita income has empowered society to buy leisure items, which has led to the increasing demand for vehicles. The market for automotive flywheel is continuously growing as it is one of the cost effective components for energy absorption. The growing market for electric vehicles may affect the market for automotive flywheels owing to elimination of engines from vehicles as the prime function of flywheels is to absorb the vibration produced from internal combustion engines. Removal of the entire conventional transmission system from electric vehicles is likely to reduce the growth of the automotive flywheel market.

In terms of flywheel type, both single mass and dual mass flywheel are growing at a significant rate; however, dual mass flywheel segment is likely to expand through the forecast period with the growth in the market for premium segment vehicles, as dual mass flywheels are mostly installed in premium vehicles. Dual mass flywheels possess higher absorption of shock due to their complex construction. Globally, single mass flywheels segment is expanding at the fastest rate due to its implementation in most commercial vehicles and entry level passenger vehicles along with its application in sports cars and some premium cars. Single mass flywheels are lighter than dual mass flywheels which make them more suitable to install in fast cars.

On the basis of transmission, the semi-automatic transmission segment is expected to expand at a significant rate owing to its low cost compared to automatic transmission systems. Semi-automatic transmission systems are gaining popularity due to their ease of drivability and better fuel consumption as compared to manual transmission systems.

Asia Pacific is a major market for automotive flywheels due to the significant production of vehicles in the region. Asia Pacific is the hub for flywheel manufacturers due to availability of resources at a lower cost. High sale of vehicles due to increasing disposable income has always been a major factor for investment by large manufacturers in the region. According to OICA (International Organization of Motor Vehicle Manufacturers), Asia Pacific witnessed the highest registration of vehicles among all the regions across the globe in 2017, which indicates the high consumption rate of vehicles in the region.

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The automotive flywheel market is dominated by the presence of both major and small players. Key players such as ZF Friedrichshafen AG, AISIN SEIKI Co.,Ltd., American Axle & Manufacturing, Inc., Schaeffler AG, and Valeo hold a major share of the market.

ZF Friedrichshafen AG is a prominent player and holds a major share of the flywheel market for automotives. The company focuses on joint ventures for its expansion and growth. Valeo is another major manufacturer of flywheels for vehicles and has specialization in manufacturing of flywheels for different segments. Valeo holds a prominent position in the automotive flywheel market.

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