The clutch spring wires market size has grown strongly in recent years. It will grow from $73.64 billion in 2023 to $80.27 billion in 2024 at a compound annual growth rate (CAGR) of 9%. The growth during the historic period can be attributed to the expansion of the automotive industry, rapid urbanization, rising disposable incomes, increased vehicle demand, and the growth in electric vehicle production.
The clutch spring wires market size is expected to see strong growth in the next few years. It will grow to $114.55 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to increasing production of commercial vehicles, a heightened focus on vehicle safety and comfort, stringent emission and fuel efficiency standards, growth in automotive aftermarket services, and rising vehicle ownership. Major trends during this period include the development of innovative alloys such as silicon-chrome steel, advanced manufacturing techniques, technologies aimed at optimizing wire drawing and heat treatment processes, product innovations, and the creation of high-performance clutch systems.
The growing demand for commercial vehicles is anticipated to drive the expansion of the clutch spring wires market. Commercial vehicles are designed for transporting goods or passengers for commercial purposes, and their demand is fueled by needs in public transportation, logistics, supply chain management, and infrastructure development. Clutch spring wires are essential for ensuring smooth clutch operation and durability, which contribute to reducing vehicle emissions and supporting environmental compliance and sustainability goals. For example, in 2023, the International Organization of Automobile Manufacturers, a France-based trade association, reported that global production of light commercial vehicles rose from 19.71 million units in 2022 to 21.44 million units in 2023. Consequently, the rising demand for commercial vehicles is driving the growth of the clutch spring wires market.
Key players in the clutch spring wires market are concentrating on developing advanced products, such as diaphragm spring clutches, to boost performance, enhance durability, and meet the increasing requirements of modern commercial and passenger vehicles. A diaphragm spring clutch is a sophisticated system that uses a diaphragm-shaped spring to provide efficient and reliable clutch operation. For instance, in May 2021, Eaton Corporation, an Ireland-based power management company, introduced its 430-millimeter diaphragm spring clutch range for heavy-duty commercial vehicles. This portfolio features advanced technologies designed to improve durability, extend operational life, and enhance noise, vibration, and harshness (NVH) performance. The range includes various actuation styles and damper sizes.
In November 2021, MW Industries Inc., a US-based manufacturer of springs and specialty fasteners, acquired Fox Valley Spring Company LLC for an undisclosed amount. This acquisition was part of MW Industries' strategy to broaden its portfolio by integrating Fox Valley Spring's expertise in clutch spring wires. Fox Valley Spring Company LLC is a US-based company specializing in manufacturing clutch spring wires.
Major companies operating in the clutch spring wires market are Jiangsu Shagang Group, Tata Steel, Aisin Corporation, Valeo, Eaton Corporation PLC, Schaeffler AG, BorgWarner Inc., Sumitomo Metal Industries, N.V. Bekaert, NHK Spring Co.Ltd., Allison Transmission Holdings Inc., Zhengzhou Sinosteel Corp, Exedy Corporation, KIS Wire Ltd., Suncall Corporation, Suzuki Garphyttan Group, ZF Friedrichshafen AG, WABCO Holdings Inc., Acxess Spring, Vesrah Company Inc.
North America was the largest region in the clutch spring wires market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the clutch spring wires market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the clutch spring wires market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Clutch spring wires are high-tensile steel wires used to manufacture clutch springs, which are crucial for engaging and disengaging the engine from the transmission in automotive clutches. These wires help ensure the smooth operation of clutch systems across various applications, enhancing the performance and reliability of the machinery.
The main types of clutch spring wires include stainless steel, alloy steel, aluminum, and others. Stainless steel springs, made from an alloy of iron, chromium, and sometimes nickel and other metals, are known for their corrosion resistance. Clutch spring types encompass diaphragm springs, central springs, and others. These springs are used in various vehicles, including passenger cars, light commercial vehicles, and heavy commercial vehicles.
The clutch spring wires market research report is one of a series of new reports that provides clutch spring wires market statistics, including clutch spring wires industry global market size, regional shares, competitors with a clutch spring wires market share, detailed clutch spring wires market segments, market trends, and opportunities, and any further data you may need to thrive in the clutch spring wires industry. This clutch spring wires market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The clutch spring wires market consists of sales of helical compression springs, torsion springs, and wave spring wires. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The clutch spring wires market size is expected to see strong growth in the next few years. It will grow to $114.55 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to increasing production of commercial vehicles, a heightened focus on vehicle safety and comfort, stringent emission and fuel efficiency standards, growth in automotive aftermarket services, and rising vehicle ownership. Major trends during this period include the development of innovative alloys such as silicon-chrome steel, advanced manufacturing techniques, technologies aimed at optimizing wire drawing and heat treatment processes, product innovations, and the creation of high-performance clutch systems.
The growing demand for commercial vehicles is anticipated to drive the expansion of the clutch spring wires market. Commercial vehicles are designed for transporting goods or passengers for commercial purposes, and their demand is fueled by needs in public transportation, logistics, supply chain management, and infrastructure development. Clutch spring wires are essential for ensuring smooth clutch operation and durability, which contribute to reducing vehicle emissions and supporting environmental compliance and sustainability goals. For example, in 2023, the International Organization of Automobile Manufacturers, a France-based trade association, reported that global production of light commercial vehicles rose from 19.71 million units in 2022 to 21.44 million units in 2023. Consequently, the rising demand for commercial vehicles is driving the growth of the clutch spring wires market.
Key players in the clutch spring wires market are concentrating on developing advanced products, such as diaphragm spring clutches, to boost performance, enhance durability, and meet the increasing requirements of modern commercial and passenger vehicles. A diaphragm spring clutch is a sophisticated system that uses a diaphragm-shaped spring to provide efficient and reliable clutch operation. For instance, in May 2021, Eaton Corporation, an Ireland-based power management company, introduced its 430-millimeter diaphragm spring clutch range for heavy-duty commercial vehicles. This portfolio features advanced technologies designed to improve durability, extend operational life, and enhance noise, vibration, and harshness (NVH) performance. The range includes various actuation styles and damper sizes.
In November 2021, MW Industries Inc., a US-based manufacturer of springs and specialty fasteners, acquired Fox Valley Spring Company LLC for an undisclosed amount. This acquisition was part of MW Industries' strategy to broaden its portfolio by integrating Fox Valley Spring's expertise in clutch spring wires. Fox Valley Spring Company LLC is a US-based company specializing in manufacturing clutch spring wires.
Major companies operating in the clutch spring wires market are Jiangsu Shagang Group, Tata Steel, Aisin Corporation, Valeo, Eaton Corporation PLC, Schaeffler AG, BorgWarner Inc., Sumitomo Metal Industries, N.V. Bekaert, NHK Spring Co.Ltd., Allison Transmission Holdings Inc., Zhengzhou Sinosteel Corp, Exedy Corporation, KIS Wire Ltd., Suncall Corporation, Suzuki Garphyttan Group, ZF Friedrichshafen AG, WABCO Holdings Inc., Acxess Spring, Vesrah Company Inc.
North America was the largest region in the clutch spring wires market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the clutch spring wires market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the clutch spring wires market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Clutch spring wires are high-tensile steel wires used to manufacture clutch springs, which are crucial for engaging and disengaging the engine from the transmission in automotive clutches. These wires help ensure the smooth operation of clutch systems across various applications, enhancing the performance and reliability of the machinery.
The main types of clutch spring wires include stainless steel, alloy steel, aluminum, and others. Stainless steel springs, made from an alloy of iron, chromium, and sometimes nickel and other metals, are known for their corrosion resistance. Clutch spring types encompass diaphragm springs, central springs, and others. These springs are used in various vehicles, including passenger cars, light commercial vehicles, and heavy commercial vehicles.
The clutch spring wires market research report is one of a series of new reports that provides clutch spring wires market statistics, including clutch spring wires industry global market size, regional shares, competitors with a clutch spring wires market share, detailed clutch spring wires market segments, market trends, and opportunities, and any further data you may need to thrive in the clutch spring wires industry. This clutch spring wires market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The clutch spring wires market consists of sales of helical compression springs, torsion springs, and wave spring wires. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Clutch Spring Wires Market Characteristics3. Clutch Spring Wires Market Trends and Strategies32. Global Clutch Spring Wires Market Competitive Benchmarking33. Global Clutch Spring Wires Market Competitive Dashboard34. Key Mergers and Acquisitions in the Clutch Spring Wires Market
4. Clutch Spring Wires Market - Macro Economic Scenario
5. Global Clutch Spring Wires Market Size and Growth
6. Clutch Spring Wires Market Segmentation
7. Clutch Spring Wires Market Regional and Country Analysis
8. Asia-Pacific Clutch Spring Wires Market
9. China Clutch Spring Wires Market
10. India Clutch Spring Wires Market
11. Japan Clutch Spring Wires Market
12. Australia Clutch Spring Wires Market
13. Indonesia Clutch Spring Wires Market
14. South Korea Clutch Spring Wires Market
15. Western Europe Clutch Spring Wires Market
16. UK Clutch Spring Wires Market
17. Germany Clutch Spring Wires Market
18. France Clutch Spring Wires Market
19. Italy Clutch Spring Wires Market
20. Spain Clutch Spring Wires Market
21. Eastern Europe Clutch Spring Wires Market
22. Russia Clutch Spring Wires Market
23. North America Clutch Spring Wires Market
24. USA Clutch Spring Wires Market
25. Canada Clutch Spring Wires Market
26. South America Clutch Spring Wires Market
27. Brazil Clutch Spring Wires Market
28. Middle East Clutch Spring Wires Market
29. Africa Clutch Spring Wires Market
30. Clutch Spring Wires Market Competitive Landscape and Company Profiles
31. Clutch Spring Wires Market Other Major and Innovative Companies
35. Clutch Spring Wires Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Clutch Spring Wires Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on clutch spring wires market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
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- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for clutch spring wires? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Stainless Steel; Alloy Steel; Aluminum; Other Types2) By Clutch Spring Type: Diaphragm Spring; Central Spring; Other Clutch Spring Types
3) By Vehicle Type: Passenger Car; Light Commercial Vehicle; Heavy Commercial Vehicle
Key Companies Mentioned: Jiangsu Shagang Group; Tata Steel; Aisin Corporation; Valeo; Eaton Corporation PLC
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Jiangsu Shagang Group
- Tata Steel
- Aisin Corporation
- Valeo
- Eaton Corporation PLC
- Schaeffler AG
- BorgWarner Inc.
- Sumitomo Metal Industries
- N.V. Bekaert
- NHK Spring Co.Ltd.
- Allison Transmission Holdings Inc.
- Zhengzhou Sinosteel Corp
- Exedy Corporation
- KIS Wire Ltd.
- Suncall Corporation
- Suzuki Garphyttan Group
- ZF Friedrichshafen AG
- WABCO Holdings Inc.
- Acxess Spring
- Vesrah Company Inc.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | September 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 80.27 Billion |
Forecasted Market Value ( USD | $ 114.55 Billion |
Compound Annual Growth Rate | 9.3% |
Regions Covered | Global |