Clutch Spring Wires Market Report 2024

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.


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