Automotive Pressure Plate Market 2024 - Trend Analysis, Industry Growth, Key Players, Growth Opportunities And Outlook By 2033

The Business Research Company recently released a comprehensive report on the Global Automotive Pressure Plate Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, the automotive pressure plate market size has grown strongly in recent years. It will grow from $54.04 billion in 2023 to $57.7 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to automotive industry growth, rising vehicle ownership rates, increasing miles driven, demand for fuel efficiency, globalization of automotive supply chains..

The automotive pressure plate market size is expected to see strong growth in the next few years. It will grow to $71.51 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to focus on lightweight materials, increasing adoption of dual-clutch transmissions, emission standards and environmental concerns, demand in emerging automotive markets, continuous improvement in manufacturing processes.. Major trends in the forecast period include development of lightweight and high-performance materials, integration of advanced friction materials, focus on modular and serviceable pressure plate designs, adoption of self-adjusting pressure plate technology, application of finite element analysis (fea) for design optimization..

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Market Drivers and Trends:

Increasing demand for passenger cars is expected to propel the growth of the automotive pressure plate market going forward. Passenger cars are vehicles designed primarily for the transportation of passengers and typically carry a small number of people, ranging from one to five. The automotive pressure plate is crucial to a passenger car's clutch system. It is responsible for applying pressure to the clutch disc, allowing for smooth engagement and disengagement of power from the engine to the transmission. For instance, in February 2023, according to the European Automobile Manufacturers Association, a Belgium-based standards group for the automobile industry in the European Union, more than 68 million passenger cars were manufactured worldwide in 2022, an increase of 7.9% from a year earlier. Furthermore, in 2022, according to the International Organization of Motor Vehicle Manufacturers, a France-based trade association, global passenger car sales increased from 56,473,803 units in 2021 to 57,485,378 units in 2022, representing a growth of 1.79%. Therefore, the increasing demand for passenger cars is driving the growth of the automotive pressure plate market.

Major companies operating in the automotive pressure plate market are increasing their focus on introducing heavy-duty pressure plates to maximize their revenues in the market. A heavy-duty pressure plate is a component of a vehicle's clutch system and is designed to withstand higher levels of torque and load compared to standard pressure plates. It is typically used in performance vehicles, commercial vehicles, and high-performance sports cars where the transmission of greater power and torque is required. For instance, in February 2021, Advanced Clutch Technology Inc., a US-based auto parts manufacturing company, launched VW016, a new heavy-duty pressure plate for the Audi and Volkswagen models. It is specifically designed for high-performance automotive applications and can be used in a variety of vehicles. The pressure plate boasts an exclusive diaphragm design that increases clamp load, reduces deflection, and maximizes clutch life. Furthermore, ACT pressure plates have precision cover stampings to offer rigidity and consistency. The VW016 Heavy Duty Pressure Plate is engineered to improve clutch performance and durability in high-performance automotive applications.

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Major Key Players of the Market:

ZF Friedrichshafen AG , Aisin Seiki Co. Ltd., Valeo, Schaeffler AG, BorgWarner Inc., EXEDY Corporation, ANAND Group, OS Giken, Twin Disc Inc., ASK Automotive Pvt. Ltd., Raicam Clutch Ltd., Setco Automotive Ltd., AP Racing, Speedway Motors Inc., RSM Autokast Ltd., AMS Automotive LLC, McLeod Racing, Quarter Master, Advanced Clutch Technology, Apls Automotive Industries Pvt. Limited, California Custom Clutch Corporation, Clutch Masters, Fidanza Performance, Phoenix Friction Products, RAM Clutches, SPEC Clutches, Hays Clutches, Centerforce Clutches, Macas Automotive Ltd.

Automotive Pressure Plate Market 2024 Key Insights:

• The automotive pressure plate market is expected to grow to $71.51 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.
• Rising Demand for Passenger Cars Drives Growth in the Automotive Pressure Plate Market
• Increasing Focus On Elevating Clutch Performance With Heavy-Duty Pressure Plates
• Asia-Pacific was the largest region in the automotive pressure plate market in 2023

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