Torque Converter Market by Applications, Types, New Technology - Opportunity Analysis and Forecast: 2022 – 2030

Market Scenario

Market Research Future published a cooked research report on the global Torque Converter market. The global market for global Torque Converter market is expected to witness significant growth during the Forecast Period.

Torque Converters are devices that act as a bridge between the transmission and the engine. The growth of the torque converter market is directly proportional to the growth in the automatic transmission vehicle market. With automatic transmission vehicles, specifically, passenger vehicles are witnessing rapid growth in demand, which is expected to positively impact the torque converter market.  With major manufacturers gunning toward enhanced vehicle efficiency, and technological developments in the torque converter, market is expected to propel the demand in the market.

Taste the market data and market information presented through more than 40 market data tables and figures spread over 80 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Torque Converter Market Research Report - Forecast to 2023”.

Key Players

and Sonnax Industries (US, ZF Friedrichshafen (Germany), Schaeffler (Germany), Aisin (Japan), Yutaka Giken (Japan), KAPEC (South Korea), Valeo S.A. (France), EXEDY (Japan), Transtar (US), and BorgWarner, Inc. (US) are some reputed names in the Torque Converter global market as enlisted by MRFR.

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Global Torque Converter Market:

With torque converters that can function under higher internal pressure and greater instantaneous force, ultimately enhancing the vehicles performance, the market is poised for rapid growth in the forecast period. Increasing demand for automatic vehicles and high end vehicles is also expected to significantly contribute in the growth of the market. The rising demand for driver assistance systems, along with the increased use of electronics in vehicles, will further augment the demand for torque converters.   

COVID-19 Impact on the Global Torque Converter Market

The COVID-19 outbreak has negatively affected the torque converter industry owing to disruption in supply chains of raw materials and finished goods from China. The halt in production activities is expected to affect the market negatively. However, inclination towards stepless transmission and expensive nature of converters can hamper the market growth.

Market Segmentation

The segment evaluation of the torque converter market is based on component, type, and vehicle type.

The type-based segments of the torque converter market are automatic transmission, dual-clutch transmission, and continuously variable transmission. The increase in demand for automatic transmission torque converters can promote the expansion of the market through the analysis period.

The vehicle type-based segments of the torque converter market are passenger vehicle and commercial vehicle. The rise in the adoption of torque converter in commercial vehicle, followed by passenger cars can impel the expansion of the market through the review period.

The component-based segments of the torque converter market are clutch plate, turbine, stator, impeller, and damper. The increase in torque converter installations can promote the expansion of the market through the analysis period.

Regional Analysis

The market for torque converter systems in North America is driven by the gradual rise in the demand for commercial vehicles in the US, followed by Mexico. The surge in need for commercial vehicles enabled with torque converter systems is expected to boost the expansion of North America torque converter market in the years to come. In addition, the increase in the number of manufacturers installing torque converters in heavy-duty trucks and medium-duty can improve the expansion of the torque converter market in the region. In Europe, the torque converter system can be driven by the existence of major car producers and their main focus on meeting the surge in the demand for commercial and passenger vehicles can prompt the expansion of the regional market in the years to come.

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