Torque Converter Market Synopsis and Highlights, Key Findings, Major Companies A

Posted by Market Research Future on December 15th, 2020

Global Torque Converter Market Information Report by battery Type (AT, CVT, and DCT), Component (Clutch Plate, Damper, Impeller, Turbine, and Stator), Vehicle (Passenger Car and Commercial Vehicle), and by Regions - Global Forecast To 2023 

Market Highlights

Torque converter is used in automobiles to transfer rotating power in prime movers to rotating driven load. It helps is the multiplication of torque at times when output rotational speed is very low. In the assessment presented by Market Research Future MRFR, the global Torque Converter Market is expected to register a decent CAGR during the review period. In addition, the market is poised to earn considerable amount of over the next couple of years. Increasing growth rate of the automotive industry is poised to boost the pace of growth of the market. The rising investments in technology in the automotive industry are also projected to drive the growth of the market in the upcoming years.

Torque converter is used to bridge the gap between the engine and transmission. Increasing production of automatic transmission vehicles is prognosticated to catalyze the expansion of the Torque Converter Market in the forthcoming years. Also, other factors that are supporting the growth of the industry, such as rising disposable income, increasing demand for automobiles, rising production of high-end cars, etc. are supposed to support the growth of the Torque Converter Market in the upcoming years. The support extended by the governments to expand public transportation facilities is also considered to be a driving factor of the Torque Converter Market. Increasing investments towards the same purpose are projected to act as a growth catalyst for the growth rate of the market.

Industry leaders of the automotive industry are emphasizing on the enhancement of vehicle efficiency. It is projected to increase the growth rate of the Torque Converter Market in the near future. Also, technological developments of torque converters are expected to drive the expansion of the market in the foreseeable future. The product is projected to witness developments over the next couple of years. It is anticipated to play a developmental role in the expansion of the Torque Converter Market in the foreseeable future. Increasing use of embedded electrical systems in vehicles is also anticipated to boost the Torque Converter Market in the near future. The demand for driving assistance systems are also poised to impact the market favorably during the evaluation period.

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Market Segmentation:

 by battery type, the Torque Converter Market has been segmented into AT, CVT, and DCT.

By component, the Torque Converter Market is segmented into clutch plate, damper, impeller, turbine, and stator.

By vehicle, the Torque Converter Market is divided into passenger car and commercial vehicle.

Regional Analysis:

The regional segments identified for the geographical analysis of the global Torque Converter Market are – Latin America, Europe, Asia Pacific, the Middle East & Africa, and North America. A country-based analysis of these regional segments is also included in this MRFR report for a detailed insight. North America is likely to witness remarkable development owing to the rising demand for commercial vehicles. Also, the increasing investments in the advancements in the automotive industry if the region is presumed to boost growth of the Torque Converter Market in the upcoming years. The U.S. is expected to observe the maximum growth owing to the presence of a technologically developed automotive industry. Europe, too, is poised to exhibit developments that can be attributed to the advanced automotive industry of the region. Asia Pacific is set to attract investments from global leaders and witness a rapidly growing Torque Converter Market.

Competitive Dashboard:

Schaeffler (Germany), Aisin (Japan), Valeo S.A. (France), BorgWarner, Inc. (US), ZF Friedrichshafen (Germany), KAPEC (South Korea), EXEDY (Japan), Transtar (US), Yutaka Giken (Japan), and Sonnax Industries (US) are some of the eminent players of the global Torque Converter Market.

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