Automotive Flywheel Market Size, Share & Industry Analysis, By Material (Iron, Steel, and Others), By Type (Single Mass and Dual Mass), By Vehicle Type (Passenger Cars and Commercial Vehicles), and Regional Forecast, 2024-2032

The global automotive flywheel market size was valued at USD 14.13 billion in 2023 and is projected to grow from USD 14.46 billion in 2024 to USD 16.78 billion by 2032, exhibiting a CAGR of 1.9% during the forecast period.

An automotive flywheel is a mechanical device used in internal combustion engines to store rotational energy. It is typically a heavy disc attached to the engine’s crankshaft. The flywheel’s main function is to smooth out the fluctuations in engine rotation caused by the intermittent nature of the engine’s power strokes. It helps maintain a consistent rotational speed, reduces vibrations, and improves the engine’s overall performance. In manual transmission vehicles, the flywheel also serves as a connection point for the clutch, allowing smooth engagement and disengagement when shifting gears.

When the engine’s pistons fire during the power strokes, they generate rotational energy transmitted to the crankshaft. The flywheel, connected to the crankshaft, absorbs some of this energy and stores it in rotational momentum. During the engine’s non-power strokes, the stored energy in the flywheel is released. This helps keep the crankshaft spinning more evenly and prevents drastic drops in rotational speed. The flywheel acts as a rotational buffer, reducing the cyclic irregularity of the engine’s power delivery. Its mass and rotational energy also dampen vibrations caused by the engine’s firing pulses. This results in a smoother overall operation and reduces stress on engine components.

Technological advancements associated with vehicle flywheel will propel market growth during the forecast period. Various key manufacturers are investing majorly in research & development activities to develop new products with improved operational characteristics. These manufacturers are using advanced materials to reduce the overall weight of the flywheels thereby improving overall vehicle efficiency.  

The COVID-19 pandemic significantly impacted the global automotive flywheel market. Lockdowns, supply chain disruptions, and reduced vehicle production led to a temporary decline in the demand for automotive flywheels. However, the growing adoption of electric vehicles and hybrid propulsion systems, coupled with increasing focus on fuel efficiency and emission reduction, would drive market recovery and growth in the post-pandemic period.

Automotive Flywheel Market Trends

Use of Composite Materials in Automotive Flywheel Manufacturing is the Major Trend

Using composite materials in vehicle flywheel manufacturing offers several advantages over traditional materials. Composite flywheels utilize a combination of materials, such as carbon fibers embedded in a resin matrix, to create a strong yet lightweight structure. These materials are significantly lighter than iron and steel, reducing the flywheel's overall weight. This weight reduction contributes to improved vehicle efficiency, quicker engine response, and reduced rotational inertia.

Moreover, composites have a higher strength-to-mass ratio compared to traditional materials. This allows strong flywheels to handle the stresses of engine operation while still being lightweight. Composite flywheels can store and release energy efficiently due to their low density and high strength. This makes them suitable for Kinetic Energy Recovery Systems (KERS) where energy storage and release are crucial.

Furthermore, the damping properties of composite materials can help absorb vibrations generated by the engine’s firing pulses, contributing to a smoother engine operation and increased driver comfort. These materials can be molded into various shapes, allowing designers to optimize the flywheel’s geometry for specific performance characteristics and space constraints within the vehicle. Composite flywheels can efficiently store energy captured during braking and release it when needed, making them suitable for regenerative braking systems in hybrid vehicles.

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Automotive Flywheel Market Growth Factors

Rising Focus on Reducing Vehicle Emissions to Propel Market Growth

Automotive flywheels can help reduce emissions by capturing and storing kinetic energy during braking or deceleration and then using that stored energy to assist during acceleration. This process reduces the need for traditional methods, such as friction-based braking, which generates heat and wastes energy. The energy captured by flywheels during braking is typically wasted in conventional vehicles. By storing and reusing this energy, flywheel systems can aid in reducing the load on the internal combustion engine, thereby improving fuel efficiency.

Flywheel’s energy recovery capabilities can contribute to a decrease in tailpipe emissions, including greenhouse gases and pollutants such as Nitrogen Oxides (NOx). Using the stored energy to aid in acceleration, the vehicle’s engine does not need to work as hard, reducing fuel consumption. A flywheel system can be highly effective in stop-and-go traffic, where vehicles frequently accelerate and brake. It smoothes out power delivery, reducing the energy wasted during acceleration and braking. Depending on the design, a flywheel system might enable downsizing other components, such as the battery in hybrid and electric vehicles, resulting in weight reduction and improved efficiency.

Increasing Adoption of Hybrid Vehicles to Drive Sales of Automotive Flywheel

Automotive flywheel market growth is characterized by increasing popularity of hybrid vehicles. Hybrid vehicles are fuel-efficient as they include an internal combustion engine with a battery and electric motor. This dual power source setup allows them to achieve significantly better fuel efficiency than traditional vehicles. Many governments offer tax incentives, rebates, and subsidies for purchasing hybrid vehicles as part of their efforts to promote cleaner transportation. These incentives help lower the initial cost of hybrid vehicles and make them more financially appealing to customers.

Furthermore, the availability of charging infrastructure for plug-in-hybrid vehicles has expanded in many regions. This convenience makes it easier for consumers to consider hybrids that can be charged at home or public charging stations. Increasing awareness regarding environmental concerns and a desire to minimize personal carbon footprints have influenced consumer preferences. In addition, these vehicles are now equipped with advanced technological features, making them competitive in terms of comfort, connectivity, and safety. The trends mentioned above are expected to bolster the sales of hybrid vehicles and drive the automotive flywheel industry’s growth during the forecast period.

RESTRAINING FACTORS

Growing Popularity of Battery Electric Vehicles May Pose a Threat to Market Growth

The growing popularity of battery electric vehicles (BEVs) poses a potential threat to the global automotive flywheel market growth. As the automotive industry shifts toward electrification to meet stringent emission regulations and address environmental concerns, the demand for traditional internal combustion engine (ICE) vehicles, which utilize flywheel systems, is expected to decline. According to Statista, the global sales of electric vehicles are projected to reach more than 30 million units by 2030, representing a significant share of the automotive market.

BEVs typically rely on electric motors for propulsion, eliminating the need for components such as flywheels used in conventional ICE vehicles. With advancements in battery technology, BEVs offer improved range, performance, and efficiency, further incentivizing consumers to transition away from traditional gasoline-powered vehicles.

Furthermore, government incentives, subsidies, and regulations aimed at promoting electric vehicle adoption are accelerating the transition toward BEVs. For instance, countries such as Norway and the Netherlands have announced plans to ban the sale of new ICE vehicles by 2025 and 2030, respectively, further driving the shift toward electric propulsion systems.

As a result, the increasing adoption of BEVs and the declining demand for ICE vehicles may reduce the market potential for automotive flywheels, posing a significant challenge for flywheel manufacturers and suppliers. To remain competitive, companies in the automotive flywheel market may need to diversify their product offerings or explore opportunities in emerging technologies such as energy storage systems for electric vehicles.

Automotive Flywheel Market Segmentation Analysis

By Material Analysis

Iron Segment to Dominate the Market Owing to the Cost Effectiveness

Based on material, the market is segmented into iron, steel, and others.  The iron segment dominated and held the largest market share in 2023. Iron, renowned for its robustness and durability, proves adept at withstanding high stress and temperatures. This makes it suitable for demanding environments. Furthermore, iron presents a more economical option compared to other materials possessing high strength and density, thus making it a cost-effective choice for the implementation of energy storage solutions. In addition, it has good thermal conductivity, helping to dissipate heat generated during energy storage and release, which can lead to improved overall efficiency. Moreover, iron flywheels can have a long service life with proper maintenance. These aforementioned factors are anticipated to lead iron segment’s majority share within the forecast period.

Steel flywheels have gained popularity in recent years due to their superior operational characteristics. They help provide smooth power delivery by storing extra energy and releasing it when required, which can result in better overall driving performance. In addition, these flywheels improve fuel efficiency and energy recovery from regenerative braking and contribute to reducing emissions in hybrid vehicles.

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By Type Analysis

Dual Mass Flywheel Segment Steers Market with Enhancing Driving Comfort and Performance

By type, the market is categorized into single mass and dual mass. The dual mass segment led the global automotive flywheel market share in 2023 and is set to exhibit notable growth during the forecast period. A dual mass flywheel has excellent vibration dampening and shock absorption capabilities. This helps reduce noise and improve overall driving comfort. In addition, it helps reduce noise levels in the cabin, resulting in a quieter and more pleasant driving experience. Moreover, modern dual mass flywheels incorporate advanced materials and designs to optimize their performance and durability.

Single mass flywheels are simpler in design compared to dual mass flywheels. These flywheels consist of a solid piece of material that rotates with the engine. They tend to be lighter than dual mass flywheels, especially regarding throttle response and acceleration. In addition, they may transmit more engine vibrations and torque fluctuations to the drivetrain and cabin. Moreover, single mass flywheels are generally favored in performance-oriented applications where quick throttle response and precise clutch control are prioritized over the damping benefits provided by dual mass flywheels.

By Vehicle Type Analysis

Passenger Cars to Dominate the Market Owing to Rising Hybrid Vehicle Sales

Based on vehicle type, the market is categorized into commercial vehicles and passenger cars. Passenger cars segment is estimated to lead the market during the forecast time period. Shifting consumer preferences toward more fuel-efficient, environment-friendly, and technologically advanced vehicles drives manufacturers to innovate and introduce new models that cater to these preferences. Moreover, government initiatives and regulations, such as emissions standards, fuel efficiency targets, and incentives, can influence consumer choices and drive car manufacturers to adapt these offerings accordingly.

Commercial vehicles are experiencing a surge in demand, attributed to the substantial growth in e-commerce. This expansion has led to an increased requirement for efficient transportation and last-mile delivery services, prompting a higher utilization of commercial vehicles in handling logistics. Moreover, with a flourishing manufacturing sector demanding the transportation of raw materials, components, and finished goods, the market is witnessing a heightened demand for a diverse range of commercial vehicles. Anticipated to persist, these trends are projected to drive substantial growth in the automotive flywheel sector throughout the forecast period.

REGIONAL INSIGHTS

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Asia Pacific led the market and is expected to be the fastest growing region during the forecast period. The future outlook for the automotive sector in the Asia Pacific is promising. Rapid urbanization, growing middle-class population, and increasing disposable income in China, India, and Southeast Asian nations are expected to drive vehicle demand. The shift toward hybrid and autonomous vehicles is also gaining momentum, with several governments and manufacturers focusing on sustainability and innovation. These factors are proliferating regional expansion.

Europe is anticipated to witness substantial growth in the automotive flywheel sector during the forecast period. Favorable trends associated with the European automotive industry are expected to augment the market growth in the region. Moreover, Europe is a hub for innovation and technology, driving advancements in vehicle manufacturing. Stringent emission regulations are pushing manufacturers to develop more sustainable solutions. Collaborative efforts between governments, manufacturers, and research institutions are further expected to enhance the industry’s potential for expansion and competitiveness on a global scale.

North America is expected to grow at a slower rate in comparison with other regions. The demand for manual transmission vehicles in North America has declined in the past few years. Automatic transmissions have become more popular in the region owing to their convenience and ease of use, especially in heavy traffic.

List of Key Companies in Automotive Flywheel Market

Focus on Material Advancement to Form the Basis of Market Expansion

Most players in the industry are implementing strategies such as new product development, diversification of sales and distribution networks, partnerships, and collaborations. These initiatives are anticipated to aid the companies in gaining a competitive edge and improve their customer base significantly. Advancements in materials for flywheel construction are further poised to propel the automotive flywheel industry growth in the future.

LIST OF KEY COMPANIES PROFILED:

• Schaeffler Technologies AG & Co. KG (Germany)


• Valeo (France)


• ZF Friedrichshafen AG (Germany)


• Aisin Seiki Corporation (Japan)


• AMS Automotive (U.S.)


• Suzuki (Japan)


• YOSHIWA KOGYO Co., Ltd. (Japan)


• Ace Manufacturing & Parts Co. (U.S.)


• Tilton Engineering (U.S.)


• Pioneer Automotive Industries (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• September 2022 – Valeo won the PACE award for its Pendulum Dual Mass Flywheel Gen. 2. It helps reduce Noise, Vibration, And Harshness (NVH) associated with hybrid vehicles' start and stop mechanisms.


• July 2022 – Schaeffler's Automotive Aftermarket division officially inaugurated its new global headquarters in Frankfurt’s Gateway Gardens district in Germany.


• June 2022 – ZF Aftermarket urged garages to explain to customers that installing a simpler, cheaper replacement part for Dual Mass Flywheel (DMF), such as a single-mass flywheel on everyday use passenger vehicles, risks damaging the transmission.


• March 2021 – Pioneer released 25 new numbers in the powertrain category, including accelerator, detent, automatic and manual transmission shift, clutch cables, automatic transmission flexplates, and a manual flywheel.


• September 2020 – Pioneer Automotive Industries expanded its operations to include an additional 100,000-square-foot warehouse adjacent to its existing distribution facility and headquarters.

REPORT COVERAGE

The market reseacrh report provides a detailed analysis. It focuses on key factors such as major companies, product types, and leading product applications. Besides, it offers insights into market trends and highlights industry developments. In addition to the factors mentioned above, the report contains several factors that have contributed to the market growth over recent years.

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