Clutch Pedal Kit Market Forecast and CAGR
According to the latest research from Fact.MR, the clutch pedal kit market is expected to expand at a CAGR of 4% to 6% between 2021 and 2031. Though due to COVID-19 pandemic the overall sales were hampered and the demand drastically declined during 2020.
However, it is estimated that the market will show positive growth from 2021 onwards. The demand for light weight clutch pedal kits made of aluminum and magnesium alloy is driving the automotive clutch pedal kits market over the forecast period, owing to a rise in demand for fuel-efficient and environmentally friendly vehicles around the world.
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What is Driving Demand for Clutch Pedal Kit?
The clutch pedal kit enables the adjustment of the clutch pedal to transfer engine power to the gearbox while the engine is running and allows continuous transmission while a gear is selected. In general, when the vehicle comes to a halt or stops, the wheels must be disconnected from the motor.
Clutches are used to link the engine and transmission by smoothly engaging a spinning crankshaft with a non-spinning transmission shaft. As a result, a clutch serves as a detachable connection between the engine and the transmission.
The market is also expected to be driven by the availability of low-cost manual transmission clutch pedal kits versus torque converters with automatic transmission. Consumer preferences for more convenient modes of transportation, as well as the demand for passenger cars in emerging economies, are expected to boost market demand over the forecast period.
Original equipment manufacturers are focusing on increasing production capacity by adding new manufacturing facilities to meet the demand, which is expected to drive market growth.
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Asia Pacific Sales Outlook of Clutch Pedal Kit
In the Asia-Pacific region, India, China, and Japan will be at the forefront of development, owing to the increasing vehicle production and sales, the Asia-Pacific region is projected to be the largest market. The demand for automotive clutches is growing as a result rising vehicle production & sales and growing fleet on road across Asia Pacific. China is projected to be the most prominent market for clutch pedal kits globally owing to the significant share in the vehicle production and sales.
The market in India is expected to develop due to improving economic conditions in the country, rising disposable income. Strict emission norms and fuel-efficiency requirements in the form of Bharat Stage VI would lead to the development of lighter and more fuel-efficient clutch pedal models, further propelling the industry.
Europe Clutch Pedal Kit Demand Outlook
Due to the increasing automotive production and significant investment in research and development activities in the region, Europe is among the prominent market. Europe is home to global automotive manufacturers such as Volkswagen, Audi, BMW, Daimler, Renault, and Citroen among others.
As a result of this, the automotive industry has grown significantly, resulting in a substantial increase in demand for the clutch pedal kit in the region. Since most people in Europe prefer manual transmission vehicles to automatic transmission vehicles, the automotive clutch pedal kit in the region is expected to grow at a steady rate.
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Who are the Key Manufacturers and Suppliers of Clutch Pedal Kit?
Some of the leading manufacturers and suppliers include
- FFP Customs
- Toyoda Iron Works
- Silver Sport Transmission
- RS International
- Shanghai Kaizhong Materials Science and Technology Co., Ltd
- Batz Group
- Guangzhou Brace Auto Parts Co
- KSR International
- Bellsonica Corporation
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