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) End Users (Original Equipment Manufacturer (OEM), Aftermarket) U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights Global Torque Converter Market
Data Bridge Market Research analyses the torque converter market will exhibit a CAGR of 5.20% for the forecast period of 2022-2029 and would likely to reach an estimated value of 11.24 billion in the end of forecast period of 2022-2029.
Torque converters are devices that serve as a link between the engine and the transmission, allowing the engine of a vehicle to rotate independently of the transmission in order to reduce the vehicle's mechanical efforts. It also aids in automatically achieving different speeds. The transmission fluid pump, turbine, and stator are the three main components of a torque converter. The torque converter operates quietly and saves fuel by reducing gear lag that occurs when changing gears manually.
The increased demand for luxury and passenger vehicles in the world's developed countries is contributing to the development of dual-clutch and automatic transmission systems, as well as torque converters. The advanced torque converter systems are useful for simple driving and also help to reduce efforts over a jammed stop. As a result, the demand for highly advanced systems in vehicles is propelling the global torque converter market industry forward.
Another major factor driving the growth of the global torque converter market is the advancement of torque converters in power train mechanisms. The power train consists of transmission and provides power to the engines to run the vehicle, which is expected to boost market growth during the forecast period. The rise in demand for technological advancements in vehicles, such as luxury, convenience, and comfort, is expected to fuel growth.
However, torque converters frequently experience technical issues, which may restrict their market growth in the future. The torque converter also has a high maintenance and repair cost, which is a limitation for this market.
This global torque converter market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on torque converter market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Torque Converter Market Scope and Market Size
Torque converter market is segmented on the basis of transmission type, component, vehicle type, hybrid vehicle type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Global torque converter market on the basis of transmission type has been segmented into automatic transmission, continuously variable transmission, and dual-clutch transmission
- Based on component, the torque converter market has been segmented into clutch plate, damper, impeller, stator, and turbine
- On the basis of vehicle type, the torque converter market has been segmented into passenger car and commercial vehicle
- Based on hybrid vehicle type, the torque converter market has been segmented into hybrid electric vehicle and plug-in electric vehicle
Torque Converter Market Country Level Analysis
The global torque converter market is analysed and market size, volume information is provided by country, transmission type, component, vehicle type and hybrid vehicle type as referenced above.
The countries covered in the global torque converter market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to dominate the global torque converter market due to the presence of global manufacturers in the region. Asia-Pacific will produce highest CAGR in the global Torque Converter markets owing to fastest growing nations such as India, Japan, and China for its OEM segment, which requires automatic transmission. China, as a significant automotive market with increasing demand for automatic transmission systems for premium and luxury vehicles, is expected to show significant growth in the torque converter market over the forecast period.
The country section of the global torque converter market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Torque Converter Market Share Analysis
The global torque converter market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to torque converter market.
Some of the major players operating in the global torque converter market are Infineon Technologies AG, NXP Semiconductors NV, Texas Instruments, Inc., Toshiba Corp., Intel Corporation, Maxim Integrated, Broadcom Inc., Qualcomm Inc., Analog Devices, Inc., Advanced Micro Devices, Microchip Technology, Inc., Monolithic Power Systems, Inc., Samsung Semiconductor, Inc., SK Hynix Inc., Mediatek Inc., Hitachi Ltd., Schurter (S) Pte, Ltd., Rewell Industrial Co. Ltd., Kyocera Electronics Devices and Watts Electronics Pvt. Ltd. among others.
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