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 vehicle.
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.
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