Advances in kinetic energy recovery system also provides growth opportunity to automotive flywheel market. Flywheel-based kinetic energy recovery system continuously transfers the energy form the wheels to the flywheels by variable transmission.
Flywheel-based kinetic energy recovery system aims to mechanically store kinetic energy to other source from rear driveshaft. GKN plc and Volvo are some of the major companies that use the flywheel equipment in there automotive products. For instance, in 2015, GKN plc, an England-based automotive and aerospace company, announced the development of electric flywheel hybrid system for buses. Moreover increasing sales of passenger cars also provides a growth opportunity to the global automotive flywheel market. According to ‘Organisation Internationale des Constructeurs d’Automobiles’ a France-based organization, have sold 69.5 million units of passenger cars in 2016 from 66.3 million units in 2015.
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Based on application, passenger cars segment held dominant position in the global automotive flywheel market in 2016 and is projected to retain its dominance throughout the forecast period. Increasing demand of passenger cars and sport utility vehicle worldwide is one of the key factor for growth of the automotive flywheel market.
Automotive flywheel Market Outlook – Asia Pacific accounted for largest market share in global automotive flywheel market.
On the basis of geography, global automotive flywheel market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific held dominant position in the global automotive flywheel market in 2016 and is projected to retain its dominance throughout the forecast period. Increasing adoption of continuously variable transmission (CVTs) and Dual clutch transmission (DCTs) in various economies such as Japan and China and increasing adoption of automated manual transmission (AMTs) in India is expected to drive growth of automotive flywheel market in Asia Pacific region. According to ‘Organisation Internationale des Constructeurs d’Automobiles’ a France-based organization, an estimated 24.4 million units of personal cars were sold in 2016 in China from 21.2 million in 2015. Similarly, in India 3 million units of personal cars were sold in 2016 from 2.8 million in 2015.
Key companies of global automotive flywheel market
Key players operating in global automotive flywheel market include Schaeffler Group, Linamar Corporation, ZF Friedrichshafen AG, Valeo, EXEDY Corporation, Mancor Industries, Metaldyne Performance Group Inc, Skyway Precision Inc, and Waupaca Foundry, Inc.
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