Torque Converter Market Size, Industry Trends, Share, Analysis, Growth and Forecast 2022-2030

 Market Scenario

Market Research Future (MRFR), in its latest report on the worldwide Torque Converters market 2022 reveals that the increase in the need for Torque Converters devices across the booming automotive sector is expected to boost the expansion of the Torque Converter Market in the assessment period. MRFR analysis reveals that the expansion of the torque converter market is expected to rise at a high pace across the study period. The Torque Converter Market value is expected to surge by the end of the review period. The high degree of efficacy of torque converter to multiply the torque in case of a substantial difference between input and output of engine’s rotation can boost the expansion of the market through the review period. The ease offered by torque converter to allow the engine to spin to certain extent is expected to promote the expansion of the market in the assessment period.

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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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 system 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 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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