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The automotive crankshaft pulley or automotive damper pulley is fixed at the front end of the crankshaft. It reduces the torsional noise, torsional vibration, and prevents the damages of metal bearings, timing gears, and crankshaft main parts. It drives the accessory belts which drives the alternator. In vehicles, the modern engines produces a huge amount of torsional vibration in the crankshaft; however, the pulley filter absorb the vibration. In addition, the automotive damper pulley helps to reduce the low frequency vibration produced by the diesel engine. The aforementioned features significantly drives growth of the automotive damper pulley market.
The market for osteoporosis drugs is expected to reach rise at a CAGR of 12.1 percent during the forecast period. Upsurge in demand for the more advanced automotive components from consumer end is driving the growth of the automotive damper pulley market.
There is emerging trend across the automotive sector for research development activities to develop effective pulley systems drives growth of the market. Key market players are actively focusing on innovations in damper pulley design in order to increase overall efficiency. In addition to this, the increasing demand for second-hand vehicles as well as surge in disposable income people across the developing countries is expected to propel the growth of the market. There is major import of second hand vehicles developing countries from the U.S., Europe, and Japan. Such vehicles necessitate maintenance, which is expected to boost the demand for aftermarket automotive components such as automotive damper pulley. This factor further drives growth of the market.
Furthermore, emergence of advanced automotive dampers is expected to create lucrative opportunities for the market. For instance, in May 2017, FAI Automotive plc launched the new Torsional Vibration Damper (TVD) range. The TVD supplemented the FAI’s existing range of bottom end engine repair products and belting range.
Throughout the forecast period, metal based automotive damper pulley will continue to holds a dominant share of global automotive damper pulley market. However, the nylon based automotive damper pulley will continue to witness highest growth rate during the forecast period. This is attributed to a several benefits of the nylon based automotive damper pulley such as cost-effectiveness, high-quality construction, noise reduction, lighter weight and therefore less inertia, shock and chemical resistance, and longer life.
On the basis of vehicle type, passenger vehicle segment holds a dominant share of global automotive damper pulley market. This is attributed to the growing popularity and adoption of passenger vehicles in the developed countries such as U.S., Canada, the UK, Germany, and Japan. However, light commercial vehicle segment is projected to experience highest growth rate during the forecast period.
AUTOMOTIVE DAMPER PULLEY MARKET SEGMENTATION:
By Material Type
By Vehicle Type:
By End Use:
North America is likely to be the most profitable region throughout forecast period. This is attributed to the fact that the North America is a developed automotive market. In addition, the region has high saturation for technologically advanced products. Moreover, a large share of commercial vehicles and passenger cars in this region are equipped with innovative pulley technologies such as light weight damper pulley system. This factor further fuels growth of the market in North America. Furthermore, significant growth in sales of sports and luxury vehicles in the region has led to the adoption of advanced technology based automotive components.
In addition to this, Europe is one of the major region holding a considerable share in global automotive damper pulley market. This is attributed to the huge automotive manufacturing sector in this region that has led to the higher production of automotive cars. In addition to this, automakers are continuously focusing towards reducing carbon emissions of their vehicles and to ensure adherence to several emission norms in the region. This factor further propels the demand for efficient automotive damper pulley. For instance, according to the European Commission, cars are responsible for about 12% of total EU emissions of carbon dioxide (CO2), the main greenhouse gas. Therefore, on April 17, 2019, the European Parliament and the Council adopted Regulation (EU) 2019/631 which presents new CO2 emission performance standards for new passenger cars and new vans for 2025 and 2030.
Asia-Pacific region is projected to witness highest growth rate during the forecast period due to the presence of emerging economies such as China and India that are expected to gain high traction in the upcoming years owing to the high consumption as well as production of the vehicle.
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