This report provides exclusive insights into the COVID-19 impact on the Torque Converter Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Torque Converter Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Torque Converter Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by
Infinium Global Research on torque converter market provides in-depth analysis
of segments and sub-segments in the global as well as regional torque converter
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional torque converter market over the short
term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of global torque converter market. According
to the report, the global torque converter market is projected to grow at a
CAGR of 5.92% over the forecast period of 2018-2024.
A torque converter is a device
that acts as a link between the transmission and the engine that allows a
vehicle engine to spin separately from the transmission. It is a type of fluid
coupling which transfers rotating power from a prime mover, like an internal
combustion engine, to a rotating driven load. In a vehicle with an automatic
transmission, the torque converter connects the power source to the load. It is
usually located between the engine's flexplate and the transmission. The key
characteristic of a torque converter is its ability to multiply torque when the
output rotational speed is so low that it allows the fluid coming off the
curved vanes of the turbine to be deflected off the stator while it is locked against
its one-way clutch, thus providing the equivalent of a reduction gear.
Rising demand for automatic
transmission systems are one of the primary factors that fuel the growth of the
automotive torque converter market over the upcoming years. Additionally, the
growth of the automatic transmission market is expected to be driven by the
rising demand for driver assistance systems, along with the increased use of
electronics in the vehicle further augment the demand for torque converters.
However, torque converter transmission consumes more fuels compared to Dual
Clutch and CVTs that restrain the growth of torque converter market. Moreover,
the increase in the demand for comfort and safety is driving the technological a shift from the manual transmission to the automatic transmission is providing
huge growth opportunities for the key players in the torque converter market.
By geography, Europe dominated
the torque converter market followed by the Asia Pacific. Moreover, the growth
of the torque converter market in America is projected to positively affect the
market by the increased adoption of automatic transmissions in heavy-duty and
medium trucks. Torque converter market is expected to have significant
opportunities in Asia Pacific regions of fastest-growing nations like India,
Japan, and China for its OEM segment to experience the highest growth that
demands automatic transmission.
The report on global torque
converter market covers segments such as type of transmission, and type of
vehicle. On the basis of the type of transmission, the global torque converter market
is categorized into automatic transmission, continuously variable transmission,
and dual-clutch transmission. On the basis of type of vehicle, the global
torque converter market is categorized into passenger vehicle and commercial
The report provides regional
analysis covering geographies such as North America, Europe, Asia-Pacific, and
Rest of the World. In this section, the key trends and market size for each
geography are provided over the period of 2016-2024. The countries covered in
the North America region include the U.S., Canada, and Mexico; while the
Asia-Pacific region includes countries such as China, Japan, India, South
Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and
Rest of Europe are the major markets included in the European region. The U.S.
drives the growth in the North America region, as it is the largest market in
the region. In the Asia-pacific region, rapid industrial growth in India and
China offers a substantial potential for the growth in the torque converter
market. As a result, the APAC region is projected to experience a growth at a
CAGR of x.xx% over the forecast period 2018-2024.
The report provides profiles of the companies in the global torque converter market such as Aisin Seiki, BorgWarner, Schaeffler Group, Valeo S.A., ZF Friedrichshafen, Transtar Industries, Inc., Kapec, EXEDY Corporation, Yutaka Giken Co., Ltd., and Sonnax Industries Inc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global torque converter market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of torque converter market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the torque converter market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the torque converter market to understand the present and future trends in this market and formulate their strategies accordingly.