Valley Cottage, New York, April 30, 2015 (GLOBE NEWSWIRE) -- Future Market Insights, in its latest report titled,"Dual Clutch Transmission (DCT) Market: Global Industry Analysis and Opportunity Assessment 2014 - 2020", states that the global dual clutch transmission market was worth US$ 8,100 Million in 2014, and it is anticipated that it will expand at a CAGR of 11.25% to reach a valuation of US$ 15,355.6 Million by 2020. Western Europe, which accounted for the major chunk in the global DCT market, is expected grow at an estimated CAGR of 9.6% during the forecast period.
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By product type, the global DCT market is segmented as dry clutch and wet clutch. Dry clutch contributed to around 55.2% of market revenue in 2014. Dry clutch was the most prominent segment in global dual clutch transmission market in 2014 and is anticipated to continue its dominance through 2020. A wet clutch is expected to register a CAGR of 9.3% during the forecast period. According to the report, dry clutch, which is the largest product type segment, is anticipated to register the fastest CAGR of 12.7% during the forecast period.
Dual clutch transmission technology is used in passenger cars and commercial vehicles. Passenger vehicle segment is projected to register a CAGR of 11.7% during the forecast period. The key factors for the growth of the passenger vehicle segment are stringent government regulations related to CO2 emissions in regions such as Western Europe, Eastern Europe, Japan, and Asia Pacific. The increase in vehicle production globally is also anticipated to contribute to the growth of the passenger vehicle segment during the forecast period. On the other hand, commercial vehicle segment is projected to register a CAGR of 10.3% through 2020.
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Region-wise, Western Europe is the most lucrative market in the global dual clutch transmission market and is expected to continue its dominance till 2020. In 2014, the Western Europe DCT market was valued at US $ 3,105.5 Million and it is expected to reach US$ 5,391.1 Million by 2020. Asia Pacific and North America are other major markets, which collectively had a 48% market revenue share of the global DCT market in 2014. Although Middle East & Africa (MEA) had the lowest market revenue share in 2014, it is projected that the market will grow at a significant CAGR of 7.7%.
The degree of competition in the global DCT market has been analysed in the report, which also presents the comparative view of the key strategies and financial outlook of major companies operating in global DCT market. These include ZF Friedrichshafen AG, Getrag KG, BorgWarner Inc., Eaton and Continental AG.
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Source: Future Market Insights