Electromagnetic Clutches Market Size, Share, Growth, and Industry Analysis, By Type (Dry, Wet, Magnetic Powder and Others), By Application (Automotive Industrial, Machine Tool and Others), Regional Insights, and Forecast From 2024 To 2031

Electromagnetic Clutches Market Report Overview

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The global electromagnetic clutches market size was USD 4315.8 million in 2022 and is projected to touch USD 5730.29 million by 2031, exhibiting a CAGR of 3.2% during the forecast period.

COVID-19 Impact: COVID-19 Initiated Lockdown Led to Decrease in Production and Deflated the Market Share

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic epidemic has had a significant negative influence on the global market for electromagnetic clutch systems. Nearly all of the main countries had slower economic growth as a result of the COVID-19 epidemic, which had an impact on consumer purchasing patterns. The supply-demand gap has widened as a result of the lockdown that has been enacted in a number of nations' transportation systems, which has adversely affected both domestic and international supply chains. Thus, it is anticipated that a lack of raw material supply will slow the manufacture of electromagnetic clutch systems, which will have a negative effect on the market's expansion. However, given that governments have begun easing global standards for resuming economic activity, the situation is anticipated to get better.

LATEST TRENDS

"Increasing Utilisation in 4-WD Vehicles and Touch Sensors to Drive the Market Share Potentially"

The expansion of the market is aided by factors like the expansion of the automobile sector globally and the rising popularity of 4-WD cars' electromagnetic clutch systems.With consumers seeking more torque and power, as well as organisations and industries purchasing these vehicles to tow huge loads at a slow speed, the trend of 4WD vehicles has grown significantly in many nations. Due to its ability to increase the amount of power going to each of an automobile's four vehicles, the electromagnetic clutch is crucial in these vehicles. Additionally, a lot of top players are concentrating on replacing clutch switches with touch or proximity sensors to make gear changing for cars easier. Since these sensors operate quickly and efficiently compared to manual switches, this is a good opportunity to fuel the growth of the electromagnetic clutch market.

Electromagnetic Clutches Market Segmentation

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• By Type

Based on type the electromagnetic clutches market is classified as dry, wet, magnetic powder and others.

The part dry type is the leading of the type segment.

• By Application

Based on application the electromagnetic clutches market is classified as automotive industrial, machine tool and others.

The part automotive industrial is the leading type of the application segment.

DRIVING FACTORS

"Rising Demand for Industrial Automation to Boost the Market Growth "

Electromagnetic clutches are widely used in the automotive industry, particularly in transmissions and air conditioning compressors. The demand for electromagnetic clutches has increased as a result of the growing manufacturing of automobiles, notably electric and hybrid vehicles. Electromagnetic clutches are being used more frequently in industrial machinery, robotics, and material handling equipment as a result of the expanding trend of automation in various industries. Magnetic clutches are perfect for automation applications because they provide precise torque control and quick reaction.

"Applications in the Defense and Aerospace Sector to Multiply the Production and Market Growth"

When compared to other types of clutches, electromagnetic clutches are renowned for their great energy efficiency. Electromagnetic clutches are used in applications like radar systems, missile guidance systems, and aircraft landing gear systems in the aerospace and defence industries. The growing demand for electromagnetic clutches market is fueled by these industries' technological developments and rising defence spending.

RESTRAINING FACTORS

"The Issues with the Over-Heating to Restrain the Market Growth"

Due to rising demand from the automotive, industrial automation, consumer electronics, aerospace, and defence industries, the market for electromagnetic clutches is expanding. Furthermore, the widespread usage of the systems can lead to an overheating issue that could impede electromagnetic clutches market growth.

Electromagnetic Clutches Market Regional Insights

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"Asia Pacific Region to Dominate the Market with Major Production and Multiplying Manufacturers"

Due to the increase in automotive and industrial machinery in multiple nations like China, India, Japan, South Korea, and Taiwan, the Asia Pacific electromagnetic clutches market share is anticipated to experience a quick boom during the projected period in emerging countries across various regions. Market expansion in APAC will be fueled by the growing use of electric vehicles and consumer desire for high-end vehicles. The number of first-time car buyers has increased as disposable income levels have increased in emerging economies. In the coming decades, a booming industry will produce a substantial amount of industrial goods such packing machinery in addition to an increase in opulent cars. With all of these considerations in mind, the market will rise throughout the forecast period.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The market is highly competitive and has both international and local participants. The introduction of new and improved products, collaborations, mergers and acquisitions, joint ventures, and other strategies include major actors.The report is a thorough investigation of a list of market participants who support market growth. The information is a synthesis of the most recent trends, mergers and acquisitions in the manufacturing industry, market research, and technological advancements. To comprehend the market share, product growth, revenue growth, and other elements during the anticipated term, further factors like regional and segmental analysis are also taken into consideration.

LIST OF TOP ELECTROMAGNETIC CLUTCHES COMPANIES

• Altra Industrial Motion (U.S.A)
• Mitsubishi Electric (Japan)
• Minebea (Japan)
• Osaki (Japan)
• Karl E. Brinkmann (Germany)
• Miki Pulley (Japan)
• Danaher (U.S.A)
• Magtrol (U.S.A)
• Intorq (Germany)
• Ortlinghaus (Germany)
• Merobel (U.S.A)
• Kobelco (Japan)
• Tianjin Electric (China)
• Chuang Xin (China)
• Guangde Lixin (China)
• Tian Ji (China)
• Steki (U.K)
• Chain Tail (China)
• Yan Clutch (China)
• Ogura Clutch (Japan)
• Kendrion (The Netherlands)
• Hofo (China)
• Jiangyin Changsheng (China)
• Langfang Xinjia (China)
• Guang Da Motor (China)
• China Wanxiang (China).

REPORT COVERAGE

This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching of recent industry developments, deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.