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Automotive Thrust Washer Market Size, Share & Industry Analysis, By Material Type (Steel, Bronze, Aluminium, Others), By Market Type (OEM, Aftermarket), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles) and Regional Forecast 2022-2029

Region : Global | Report ID: FBI103637 | Status : Ongoing

 

KEY MARKET INSIGHTS

The automotive thrust washers are flat shaped bearing that are used reduce the friction and prevent parasitical losses thereby maintaining the durability and alignment of the automotive systems. Thrust washers are mostly made of steel, plastic, bronze, rubber, and other materials. Thrust washers made with graphite are also used in high temperature applications. These washers have numerous applications in the automobile such as transmission, axles, differential cases, transfer cases, and other rotating components. Heavy metal thrust washers are replaced with the lightweight thrust washers to reduce the weight of the automobile. The reduction in the weight of the vehicle helps in reducing the vehicular fuel emission. The automotive manufacturing companies are working towards innovating and developing lightweight components and systems to reduce the weight of the vehicle. Owing to the rising fuel emission concern and the increasing trend of lightweight vehicles is gaining high popularity among the new generation thus propelling the growth of automotive thrust washer market. Moreover, the government is also imposing stringent regulations on the automotive industry to curb fuel emission and is also taking initiatives to promote the production of lightweight vehicles.  


Globally, the rising concern of air pollution is one of the major reasons for the development of lightweight vehicles. The surge in the demand for fuel efficient, lightweight and high performance vehicles is driving the growth of the automotive thrust washer market. Also the stringent emission norms imposed by the government on the automotive OEMs are adding to the growth of the market. On the contrary, the rapid adoption of electric vehicles is estimated to hamper the automotive thrust washer market during the forecast period.


Key Market Driver -

Rising demand for lightweight and fuel efficient vehicles are expected to drive the growth of the automotive thrust washer market during the forecast period.

Key Market Restraint -

Increasing adoption of electric vehicles may hamper the growth of the automotive thrust washer market during the forecast period.


Market Segmentation:


Globally, the automotive thrust washer market is segmented by material type, by market type, by vehicle type, and by geographic coverage. The material type segment is divided into steel, bronze, aluminium, and other materials. The aluminium thrust washers are widely used by the automotive industry owing to its low density, greater durability, and corrosion resistant property. Aluminium reduces the vehicular weight to a great extent. The automotive OEMs are manufacturing automotive components using aluminium metal to reduce the overall weight of the vehicle for better fuel efficiency, greater stability, and high performance. These factors are expected to boost the demand for aluminium thrust washers in the forecast period. The market type segment is further bifurcated into original equipment manufacturers (OEM) and aftermarket. The OEMs holds the largest share of the global automotive thrust washer market. Many of the automotive OEMs are investing high percentage to develop lightweight, high quality, and more durable thrust washers, thus propelling the growth of the thrust washer market. The aftermarket is also gaining high demand owing to the high quality as well as provision of customized thrust washers. The vehicle type, is further segmented into passenger cars, and commercial vehicles. The passenger car segment holds the maximum share of the global automotive thrust washer market owing to the rising urbanization, improved standard of living, rise in the purchasing power of the people is propelling them to purchase new cars. Also, the increasing concerns fuel emissions, and trend of light vehicles across the globe is leading to the growth of the market.                         


Key Players:


Major players operating in the global automotive thrust washer market include BOWMAN International, Sonnax Transmission Company, Inc., DuPont de Nemours, Inc., SKF, and Northern Industrial Manufacturing (NIM) among others.


Key Insights



  • New Advancements in automotive thrust washer

  • Number of Products, Key Countries, 2018

  • New Product Launches, Key Players


Regional Analysis:


Geographically, the automotive thrust washer market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific holds the largest share in the global automotive thrust washer market and is expected to maintain its dominance over the forecast period. The developed as well the developing countries such as India, China, and Japan are the leading nations having maximum number of sales and production of automobiles. The rising urbanization, high demographic rate, rapid adoption of advanced technology, and rise in the disposable income has led to an increase in the volume of vehicles in this region. Moreover, the stringent emission norms imposed by the government to curb the air pollution various initiatives taken to increase the production of lightweight vehicles is propelling the growth of the automotive thrust washer market in this region. North America also shows an exponential growth in the global automotive thrust washer market owing to the high volume of commercial vehicles in this region. Also, the government’s stringent emission norms and rapid adoption of technologically advanced systems is leveraging the growth of the automotive thrust washer market in this region.


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Segmentation


























 ATTRIBUTE


  DETIALS

By Material Type




  • Steel

  • Bronze

  • Aluminium

  • Others



By Market Type




  • OEM

  • Aftermarket



By Vehicle Type




  • Passenger Cars

  • Light Commercial Vehicles

  • Heavy Commercial Vehicles



By Geography




  • North America (USA, Canada, and Mexico)

  • Europe (Germany, France, U.K., and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

  • Rest of the World



Automotive Thrust Washer Market Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2021
  • 2018-2020

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