Future Market Insights has recently published a market research report on Global Dual-Clutch Transmission market. The study presents a detailed analysis on the historical data, current and future market scenario for the Dual-Clutch Transmission market. The global Dual-Clutch Transmission market report is projected to witness a positive growth over the forecast period of 2021 and 2031. 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.
The report presents an in-depth analysis of key growth drivers and trends that are likely to impact the market in upcoming years. With the adoption of cloud computing and artificial intelligence, the technology industry is expected to witness a healthy growth over the forecast period. Increasing competitive pressure and advanced digital transformation in the area of data analytics and artificial intelligence are likely to improve the growth outlook for the Dual-Clutch Transmission market in the upcoming decade.
According to the FMI’s report, Changes in consumer behavior, robust product innovations, and expanding distribution networks continue to influence growth of the Dual-Clutch Transmission market. FMI’s analysts rely on unique research methods and comprehensive data study of the current and upcoming trends of the Dual-Clutch Transmission market report and gather data from a wide range of primary and secondary sources.
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Impact of COVID-19 on Dual-Clutch Transmission Market
With the onset of COVID-19, there has been a significant impact on the technology sector. Disruptions of electronic supply-value chain and raw material supply have adversely impacted the technology industry. However, there has been a positive impact on the industry with the adoption of remote working. Rapid focus on integrating digital techniques and big data analytics in IT services and technology industry are expected to result in a healthy outlook.
FMI’s recently published report has a chapter exclusively dedicated to COVID-19 impact analysis. This is intended to aid Dual-Clutch Transmission market stakeholders in deploying innovative strategies to overcome the challenges that are likely to affect the Dual-Clutch Transmission market.
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.
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.
Leading players operating in the market profiled by FMI include ZF Friedrichshafen AG, Getrag, BorgWarner Inc., Eaton, GKN Driveline, and Continental.
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.
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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).
Why Buy FMI’s Report?
- Extensive analysis on key trends and opportunities on the industries ongoing trends in different regions across the globe
- All-inclusive assessment on recent technological advancements and forecast of the upcoming decade
- A comparative analysis of leading players and emerging players in the Dual-Clutch Transmission market
- Reliable information on new product launches, organic and inorganic strategies, and more
- Valuable insights on the impact of regulatory framework on the global Dual-Clutch Transmission market
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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