Torque Converter Market Overview
Torque Converter
Market is forecast to reach $9.40 billion by 2025, after growing at a CAGR of 5.65%
during 2020-2025. The growth of the torque converter market is majorly
attributed to the growth of automatic transmission vehicle market. The rapid
growth in the demand of CVT passenger vehicles and automatic hydraulic
transmission vehicles in the developed parts of the world is majorly
anticipated to have positive impact on the growth of the market during the
forecast period.
Report Coverage
The report: “Torque Converter Market – Forecast
(2019-2024)”, by IndustryARC, covers an in-depth analysis of the following segments
of the Torque Converter Market.
Key Takeaways
- North America dominated the market of torque convertor, owing to the high adoption of the advanced technology.
- The high demand of passenger cars in the developed countries such as the U.S, Germany and Canada is contributing towards the growth of the market.
- The growing demand of the Duel Clutch and automatic Transmission system along with the torque convertor is contributing towards the growth of the market.
Transmission Type - Segment Analysis
Duel Clutch
segment held the largest market share in the fuel Torque Converter Market in
2018. The growing deployment of the duel clutch in most of the vehicles
(passenger vehicle/commercial vehicle) is significantly contributing towards
the growth of the Torque Converter market. In 2018, Hyundai launched a new duel
clutch model specifically designed for the passenger vehicles. The launch of
new products is anticipated to raise the growth of the market during the
forecast period.
Vehicle Type - Segment Analysis
By the type of
vehicle the market is broadly categorized into two major types: Passenger Vehicles
and Commercial Vehicles. These passenger vehicle is estimated to grow at a
faster pace during the forecast period. According to OICA, China
held 35% market share in global passenger cars sales in 2017. The growing sales
of the passenger vehicles is anticipated to raise the growth of the market
during the forecast period. The growing demand of the passenger cars is
significantly attributed to the high penetration of the automatics in the
passenger cars. The high demand of passenger cars in the regions such as North
America (United States and Canada) and APAC (China, Japan, Australia) is
anticipated to raise the growth of the market during the forecast period.
Geography - Segment Analysis
North America denominated the market
of Torque Convertor with a market share more than 30%, followed by Europe in 2018.
The high growth rate in these regions is mostly attributed to the technological
advancement and easy adoption of the new technology in countries such as U.S,
Canada, Germany, U.K., France and other regions. The high demand of the
commercial vehicles in United States is significantly contributing towards the
rising demand of the Torque Convertor System in the market. By the end of
September 2019, the total number of passenger cars manufactured in Germany was
415,500 units, which was an increase of about 4% since previous year (2018).
The growing production is attributed to the growing demand of these vehicles
across the globe. The increase in production of these passenger cars is
anticipated to raise the deployment of these torque converter system which is
contributing towards growth of the market during the forecast period.
Drivers – Torque Converter Market
·
Growing demand
for Passenger cars and luxurious vehicles:
The growing demand of the passenger cars and luxurious vehicles in
the developed parts of the globe is significantly increasing the deployment of
the duel clutch and automatic transmission systems along with torque convertors
in the vehicles. The deployment of these advanced systems results in effortless
driving and reduces efforts over the jammed stop and go conditions. The high
demand of such advanced system is driving the growth of the market.
·
Advancements In Power Trains:
One of the major factor driving the growth of the torque convertor
market is the recent advancements made in the powertrain mechanism. Powertrain
consists of transmission, engine to run the power to the vehicle. Such
advancements are anticipated to raise the growth of the market during the
forecast period.
Challenges – Torque Convertor Market
·
Growing number of technical issues in the torque convertors:
One of the major cause hindering the
growth of the torque convertor market is the growing number of technical issues
with the torque convertors. The malfunctioning of the torque convertors causes
difficulty like transmission slippage and high-Stall Speed. Moreover, the high
repair and replacement cost hinders the growth of the market.
Market Landscape
Technology launches, acquisitions
and R&D activities are key strategies adopted by players in the Torque
Convertor market. In 2018, the market of Torque Convertor has been consolidated
by the top five players accounting for 41.6% of the market share. Major players
in the Torque Convertor Market are Aisin, Borgwarner, Exedy, Kapec, Schaeffler, Sonnax
Industries, among others.
Acquisitions/Technology Launches
- In 2019, Ricardo launched its new high performance transverse Duel Clutch System specifically designed for the supercar transmission. The launch of new products is anticipated to raise the growth of the market during the forecast period.
LIST OF TABLES
1.Global Torque Converter Market By Transmission Type Market 2023-2030 ($M)1.1 Automatic Transmission Market 2023-2030 ($M) - Global Industry Research
1.2 Continuously Variable Transmission Market 2023-2030 ($M) - Global Industry Research
1.3 Dual-Clutch Transmission Market 2023-2030 ($M) - Global Industry Research
2.Global Torque Converter Market By Component Market 2023-2030 ($M)
2.1 Clutch Plate Market 2023-2030 ($M) - Global Industry Research
2.2 Damper Market 2023-2030 ($M) - Global Industry Research
2.3 Impeller Market 2023-2030 ($M) - Global Industry Research
2.4 Stator Market 2023-2030 ($M) - Global Industry Research
2.5 Turbine Market 2023-2030 ($M) - Global Industry Research
3.Global Torque Converter Market By Vehicle Type Market 2023-2030 ($M)
3.1 Passenger Car Market 2023-2030 ($M) - Global Industry Research
3.2 Commercial Vehicle Market 2023-2030 ($M) - Global Industry Research
4.Global Torque Converter Market By Hybrid Vehicle Type Market 2023-2030 ($M)
4.1 Hybrid Electric Vehicle Market 2023-2030 ($M) - Global Industry Research
4.2 Plug-In Electric Vehicle Market 2023-2030 ($M) - Global Industry Research
5.Global Torque Converter Aftermarket By Vehicle Type Market 2023-2030 ($M)
5.1 Passenger Car Market 2023-2030 ($M) - Global Industry Research
5.2 Commercial Vehicle Market 2023-2030 ($M) - Global Industry Research
6.Global Torque Converter Market By Transmission Type Market 2023-2030 (Volume/Units)
6.1 Automatic Transmission Market 2023-2030 (Volume/Units) - Global Industry Research
6.2 Continuously Variable Transmission Market 2023-2030 (Volume/Units) - Global Industry Research
6.3 Dual-Clutch Transmission Market 2023-2030 (Volume/Units) - Global Industry Research
7.Global Torque Converter Market By Component Market 2023-2030 (Volume/Units)
7.1 Clutch Plate Market 2023-2030 (Volume/Units) - Global Industry Research
7.2 Damper Market 2023-2030 (Volume/Units) - Global Industry Research
7.3 Impeller Market 2023-2030 (Volume/Units) - Global Industry Research
7.4 Stator Market 2023-2030 (Volume/Units) - Global Industry Research
7.5 Turbine Market 2023-2030 (Volume/Units) - Global Industry Research
8.Global Torque Converter Market By Vehicle Type Market 2023-2030 (Volume/Units)
8.1 Passenger Car Market 2023-2030 (Volume/Units) - Global Industry Research
8.2 Commercial Vehicle Market 2023-2030 (Volume/Units) - Global Industry Research
9.Global Torque Converter Market By Hybrid Vehicle Type Market 2023-2030 (Volume/Units)
9.1 Hybrid Electric Vehicle Market 2023-2030 (Volume/Units) - Global Industry Research
9.2 Plug-In Electric Vehicle Market 2023-2030 (Volume/Units) - Global Industry Research
10.Global Torque Converter Aftermarket By Vehicle Type Market 2023-2030 (Volume/Units)
10.1 Passenger Car Market 2023-2030 (Volume/Units) - Global Industry Research
10.2 Commercial Vehicle Market 2023-2030 (Volume/Units) - Global Industry Research
11.North America Torque Converter Market By Transmission Type Market 2023-2030 ($M)
11.1 Automatic Transmission Market 2023-2030 ($M) - Regional Industry Research
11.2 Continuously Variable Transmission Market 2023-2030 ($M) - Regional Industry Research
11.3 Dual-Clutch Transmission Market 2023-2030 ($M) - Regional Industry Research
12.North America Torque Converter Market By Component Market 2023-2030 ($M)
12.1 Clutch Plate Market 2023-2030 ($M) - Regional Industry Research
12.2 Damper Market 2023-2030 ($M) - Regional Industry Research
12.3 Impeller Market 2023-2030 ($M) - Regional Industry Research
12.4 Stator Market 2023-2030 ($M) - Regional Industry Research
12.5 Turbine Market 2023-2030 ($M) - Regional Industry Research
13.North America Torque Converter Market By Vehicle Type Market 2023-2030 ($M)
13.1 Passenger Car Market 2023-2030 ($M) - Regional Industry Research
13.2 Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
14.North America Torque Converter Market By Hybrid Vehicle Type Market 2023-2030 ($M)
14.1 Hybrid Electric Vehicle Market 2023-2030 ($M) - Regional Industry Research
14.2 Plug-In Electric Vehicle Market 2023-2030 ($M) - Regional Industry Research
15.North America Torque Converter Aftermarket By Vehicle Type Market 2023-2030 ($M)
15.1 Passenger Car Market 2023-2030 ($M) - Regional Industry Research
15.2 Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
16.South America Torque Converter Market By Transmission Type Market 2023-2030 ($M)
16.1 Automatic Transmission Market 2023-2030 ($M) - Regional Industry Research
16.2 Continuously Variable Transmission Market 2023-2030 ($M) - Regional Industry Research
16.3 Dual-Clutch Transmission Market 2023-2030 ($M) - Regional Industry Research
17.South America Torque Converter Market By Component Market 2023-2030 ($M)
17.1 Clutch Plate Market 2023-2030 ($M) - Regional Industry Research
17.2 Damper Market 2023-2030 ($M) - Regional Industry Research
17.3 Impeller Market 2023-2030 ($M) - Regional Industry Research
17.4 Stator Market 2023-2030 ($M) - Regional Industry Research
17.5 Turbine Market 2023-2030 ($M) - Regional Industry Research
18.South America Torque Converter Market By Vehicle Type Market 2023-2030 ($M)
18.1 Passenger Car Market 2023-2030 ($M) - Regional Industry Research
18.2 Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
19.South America Torque Converter Market By Hybrid Vehicle Type Market 2023-2030 ($M)
19.1 Hybrid Electric Vehicle Market 2023-2030 ($M) - Regional Industry Research
19.2 Plug-In Electric Vehicle Market 2023-2030 ($M) - Regional Industry Research
20.South America Torque Converter Aftermarket By Vehicle Type Market 2023-2030 ($M)
20.1 Passenger Car Market 2023-2030 ($M) - Regional Industry Research
20.2 Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
21.Europe Torque Converter Market By Transmission Type Market 2023-2030 ($M)
21.1 Automatic Transmission Market 2023-2030 ($M) - Regional Industry Research
21.2 Continuously Variable Transmission Market 2023-2030 ($M) - Regional Industry Research
21.3 Dual-Clutch Transmission Market 2023-2030 ($M) - Regional Industry Research
22.Europe Torque Converter Market By Component Market 2023-2030 ($M)
22.1 Clutch Plate Market 2023-2030 ($M) - Regional Industry Research
22.2 Damper Market 2023-2030 ($M) - Regional Industry Research
22.3 Impeller Market 2023-2030 ($M) - Regional Industry Research
22.4 Stator Market 2023-2030 ($M) - Regional Industry Research
22.5 Turbine Market 2023-2030 ($M) - Regional Industry Research
23.Europe Torque Converter Market By Vehicle Type Market 2023-2030 ($M)
23.1 Passenger Car Market 2023-2030 ($M) - Regional Industry Research
23.2 Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
24.Europe Torque Converter Market By Hybrid Vehicle Type Market 2023-2030 ($M)
24.1 Hybrid Electric Vehicle Market 2023-2030 ($M) - Regional Industry Research
24.2 Plug-In Electric Vehicle Market 2023-2030 ($M) - Regional Industry Research
25.Europe Torque Converter Aftermarket By Vehicle Type Market 2023-2030 ($M)
25.1 Passenger Car Market 2023-2030 ($M) - Regional Industry Research
25.2 Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
26.APAC Torque Converter Market By Transmission Type Market 2023-2030 ($M)
26.1 Automatic Transmission Market 2023-2030 ($M) - Regional Industry Research
26.2 Continuously Variable Transmission Market 2023-2030 ($M) - Regional Industry Research
26.3 Dual-Clutch Transmission Market 2023-2030 ($M) - Regional Industry Research
27.APAC Torque Converter Market By Component Market 2023-2030 ($M)
27.1 Clutch Plate Market 2023-2030 ($M) - Regional Industry Research
27.2 Damper Market 2023-2030 ($M) - Regional Industry Research
27.3 Impeller Market 2023-2030 ($M) - Regional Industry Research
27.4 Stator Market 2023-2030 ($M) - Regional Industry Research
27.5 Turbine Market 2023-2030 ($M) - Regional Industry Research
28.APAC Torque Converter Market By Vehicle Type Market 2023-2030 ($M)
28.1 Passenger Car Market 2023-2030 ($M) - Regional Industry Research
28.2 Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
29.APAC Torque Converter Market By Hybrid Vehicle Type Market 2023-2030 ($M)
29.1 Hybrid Electric Vehicle Market 2023-2030 ($M) - Regional Industry Research
29.2 Plug-In Electric Vehicle Market 2023-2030 ($M) - Regional Industry Research
30.APAC Torque Converter Aftermarket By Vehicle Type Market 2023-2030 ($M)
30.1 Passenger Car Market 2023-2030 ($M) - Regional Industry Research
30.2 Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
31.MENA Torque Converter Market By Transmission Type Market 2023-2030 ($M)
31.1 Automatic Transmission Market 2023-2030 ($M) - Regional Industry Research
31.2 Continuously Variable Transmission Market 2023-2030 ($M) - Regional Industry Research
31.3 Dual-Clutch Transmission Market 2023-2030 ($M) - Regional Industry Research
32.MENA Torque Converter Market By Component Market 2023-2030 ($M)
32.1 Clutch Plate Market 2023-2030 ($M) - Regional Industry Research
32.2 Damper Market 2023-2030 ($M) - Regional Industry Research
32.3 Impeller Market 2023-2030 ($M) - Regional Industry Research
32.4 Stator Market 2023-2030 ($M) - Regional Industry Research
32.5 Turbine Market 2023-2030 ($M) - Regional Industry Research
33.MENA Torque Converter Market By Vehicle Type Market 2023-2030 ($M)
33.1 Passenger Car Market 2023-2030 ($M) - Regional Industry Research
33.2 Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
34.MENA Torque Converter Market By Hybrid Vehicle Type Market 2023-2030 ($M)
34.1 Hybrid Electric Vehicle Market 2023-2030 ($M) - Regional Industry Research
34.2 Plug-In Electric Vehicle Market 2023-2030 ($M) - Regional Industry Research
35.MENA Torque Converter Aftermarket By Vehicle Type Market 2023-2030 ($M)
35.1 Passenger Car Market 2023-2030 ($M) - Regional Industry Research
35.2 Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Torque Converter Market Revenue, 2023-2030 ($M)2.Canada Torque Converter Market Revenue, 2023-2030 ($M)
3.Mexico Torque Converter Market Revenue, 2023-2030 ($M)
4.Brazil Torque Converter Market Revenue, 2023-2030 ($M)
5.Argentina Torque Converter Market Revenue, 2023-2030 ($M)
6.Peru Torque Converter Market Revenue, 2023-2030 ($M)
7.Colombia Torque Converter Market Revenue, 2023-2030 ($M)
8.Chile Torque Converter Market Revenue, 2023-2030 ($M)
9.Rest of South America Torque Converter Market Revenue, 2023-2030 ($M)
10.UK Torque Converter Market Revenue, 2023-2030 ($M)
11.Germany Torque Converter Market Revenue, 2023-2030 ($M)
12.France Torque Converter Market Revenue, 2023-2030 ($M)
13.Italy Torque Converter Market Revenue, 2023-2030 ($M)
14.Spain Torque Converter Market Revenue, 2023-2030 ($M)
15.Rest of Europe Torque Converter Market Revenue, 2023-2030 ($M)
16.China Torque Converter Market Revenue, 2023-2030 ($M)
17.India Torque Converter Market Revenue, 2023-2030 ($M)
18.Japan Torque Converter Market Revenue, 2023-2030 ($M)
19.South Korea Torque Converter Market Revenue, 2023-2030 ($M)
20.South Africa Torque Converter Market Revenue, 2023-2030 ($M)
21.North America Torque Converter By Application
22.South America Torque Converter By Application
23.Europe Torque Converter By Application
24.APAC Torque Converter By Application
25.MENA Torque Converter By Application
26.Schaeffler, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.ZF, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Aisin, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Valeo, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Kapec, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Transtar., Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Exedy, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Yutaka Giken, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Borgwarner, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Sonnax Industries, Sales /Revenue, 2015-2018 ($Mn/$Bn)