ESOMAR-certified consulting firm Future Market Insights (FMI) projects the steady expansion of the global dual-clutch transmissions market at 6% CAGR between 2021 and 2031. The market is projected to reach a valuation of US$ 24 Bn in 2021.
Burgeoning demand for passenger vehicles that provide effective driving control and fuel efficiency is boosting sales in the global dual-clutch transmissions market. Increasing adoption of hybrid vehicles will further augment sales in the market, leading to market expansion at 7.2% in terms of volume.
Rising preference for small and medium-sized passenger vehicles will foster sales in the market. Integration of dual-clutch transmission systems in smaller vehicles has increasingly gained traction in recent years, leading to y-o-y growth of 6.3% in the DCT market between 2020-2021.
Rapid expansion of the automotive industry, coupled with increasing research and development for product innovations in countries such as the U.K., the U.S., and Germany is augmenting the market growth.
Stringent emission control norms and growing consumer preference towards small passenger vehicles that offer optimal driving experience are driving growth in developing countries such as China, India, South Korea, and Brazil.
Additionally, technological advancements in the dual-clutch transmissions systems leading to their incorporation in hybrid vehicles will further propel sales in the market.
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Key Takeaways from FMI’s Dual Clutch Transmission Market Study
- Passenger vehicles will dominate the segment throughout the upcoming decade.
- Dry clutch will emerge as the most preferred product type.
- China will emerge as the most lucrative market, owing to rising demand for passenger cars in the country.
- Germany will witness steady growth as research and development regarding dual-clutch transmission advancements rise in the country.
- India will exhibit high demand due to increasing customer preference towards hybrid small and medium-sized passenger vehicles.
- The U.S. is anticipated to witness steady growth in the market with increasing product innovations in the dual-clutch transmission market.
“Focus on improved driving safety will encourage automakers to include dual clutch transmission systems in vehicles. Besides this, their focus on technological improvements will accelerate in response to rising willingness among buyers to spend on high-performing cars,” said a lead analyst at FMI.
Competitive Landscape
Leading players operating in the market profiled by FMI include ZF Friedrichshafen AG, Getrag, BorgWarner Inc., Eaton, GKN Driveline, and Continental.
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Prominent players are adopting various lucrative strategies to gain a competitive edge in the highly dynamic dual-clutch transmission market. Noteworthy strategies include product development, collaborations, acquisitions, expansions, and the adoption of green and sustainable manufacturing processes for optimal growth. For instance:
- In October 2020, BorgWarner confirmed the acquisition of Delphi Technologies, a specialist in electronic products, to strengthen its product portfolio and support ongoing product innovations.
- In June 2021, ZF Friedrichshafen AG announced its plans to make India the global hub for automotive components manufacturing and development. The German manufacturer is keen to focus on research and development regarding material sourcing, digital innovation, and automotive manufacturing.
More Insights on the Dual Clutch Transmission Market
In its latest report, FMI offers an unbiased analysis of the global dual-clutch transmission market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of vehicle type (passenger and commercial), product type (dry and wet clutch) across seven major regions (North America, Latin America, Eastern Europe, Asia Pacific excluding Japan, Western Europe, Japan, and Middle East & Africa).
About the Automotive Division of FMI
The automotive division of FMI offers a novel approach and innovative perspective in the analysis of the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery across the manufacturing sector and distinctive analysis about the installed base, consumables, replacement, USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders, and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.