Global Torque Converter Market, By Transmission Type (Automatic Transmission, Continuously Variable Transmission, Dual-Clutch Transmission), Component (Clutch Plate, Damper, Impeller, Stator, Turbine), Vehicle Type (Passenger Car, Commercial Vehicle), Hybrid Vehicle Type (Hybrid Electric Vehicle, Plug-In Electric Vehicle), Geography (North America, South America, Europe, Asia-Pacific, Middle East And Africa)– Industry Trends and Forecast to 2025
Market Analysis: Global Torque Converter Market
The Global Torque Converter Market is expected to reach USD 9.9 billion by 2025, from USD 6.4 billion in 2017 growing at a CAGR of 3.6% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic year is 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global Torque Converter Market
The torque converter allows the motor vehicle to meet various gear ratios without using a conventional gear box. It splits the engine and transmission which allows the engine to work independently. Use of the torque converter removes the clutch and achieves better ride value by eliminating the need to use the clutch pedal. There are four components in the torque converter which are transmission fluid pump, turbine and stator. The key feature of the torque converter is its ability to multiply torque that lies in the capacity of the stator. The torque converter runs quietly and helps to achieve fuel efficiency as the gear lag is reduced due to the lack of manual gear changing. It requires low maintenance and less efficiency to refill the transmission fluid as it is a sealed unit. The procedure of torque converter expands fuel combustion by attaining optimal torque ratios. The market for automobile is expected to expand due to increase in demand for fuel-saving technologies. Moreover, the torque converter market for automotive is estimated to increase because of the rise in consumer demand for better ride handling and comfort. According to India Times, sales of AT cars increased by 66% from 2014 to 2015. Hence, with the increasing advancements, the torque converter market is expected to grow.
- Demand for increasing sale of hybrid electric vehicles.
- Demand for increasing automatics.
- High cost for repairing
- Less availability of components
Segmentation: Global Torque Converter Market
By Transmission Type
- Automatic Transmission (AT)
- Continuously Variable Transmission (CVT)
- Dual-Clutch Transmission (DCT)
- Clutch Plate
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By Hybrid Vehicle Type
- Hybrid Electric Vehicle (HEV)
- Plug-In Electric Vehicle (PHEV)
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- North America
- Rest of Europe
- South America
- Rest of south America
- Middle East & Africa
- South Africa
- Rest of MEA
Competitive Analysis: Global Torque Converter Market
The global torque converter market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Catalyst Carriers Market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
For instance, the torque converter developed by Nissan Motor Corporation reduces the transmission time by 30%, thus offering a smoother ride and reduced fuel consumption. Hence, they offer a reliable range of torque converters.
Key Market Competitors: Global Torque Converter Market
The key players operating in the global torque converter market are –
- Schaeffler AG
- ZF Friedrichshafen AG
- AISIN SEIKI Co., Ltd.
- Yutaka Giken Company Limited
The other players in the market are EXEDY Corporation (Japan), Transtar Industries (Walton Hills), BorgWarner Inc. (U.S.), Sonnax Transmission Company, Inc. (Vermont), Volkswagen Group (Germany), Mercedes-Benz (Germany), Ford (U S ), Hyundai (South Korea), Toyota (Japan), and TATA (India), Automotive Component Manufacturers Association of India (ACMA), Japan Automotive Manufacturers Association (JAMA), European Automobile Manufacturers' Association (ACEA), Dynamic Manufacturing (Germany), Precision Industries (Australia), ACC Performance Products Plus (U.S.), Stewart & Stevenson (U.S.)
Research Methodology: Global Torque Converter Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Historical and current market size and projection up to 2025.
- Market trends impacting the growth of the global torque converter market.
- Analyse and forecast global torque converter market on the basis of transmission type, component, vehicle type and hybrid vehicle type.
- Trends of key regional and country-level markets for transmission type, component, vehicle type and hybrid vehicle type.
- Company profiling of key players which includes business operations, product and services, geographic presence, recent developments and key financial analysis.