Automotive Torque Converter Market to be Valued USD22736 Million by 2026
Growing usage of automatic
transmission in automobile to drive global automotive torque converter market
until 2026.
According to TechSci Research report, “Automotive
Torque Converter Market - Global Industry Size, Share, Trends, Competition,
Opportunity and Forecast, 2016-2026”, Global automotive torque converter
market was valued at over USD15357 million in 2021 and is forecast to grow at a
CAGR of 6.02% to reach USD22736 million by 2026. Increasing the use of
automatic transmission over manual transmission is driving the growth of the
automotive torque converter market. Automatic transmission makes use of torque converters
and increasing sales of commercial vehicles and passenger cars are pushing the
growth of the market through 2026.
Difficulty in driving caused by crowded traffic
conditions, particularly in urban areas, is driving up demand for automatic
transmission vehicles around the world. The increasing number of automatic
transmission vehicles, especially in countries like the USA, Japan, India, and
China, is producing considerable demand for torque converters. When compared to
manual transmission vehicles with a clutch, automatic transmission vehicles
generate more torque, which helps in smooth transmission. The torque converter
changes the gear ratio from 3:1 to 1:1 in an infinite number of phases, resulting
in smooth acceleration. This enables the car to start and stop without
difficulty.
In an automatic transmission, the torque converter
functions similarly to a clutch in a manual transmission. This reduces the
clutch plate assembly cost in the vehicle. Torque converter functions as an
automatic clutch and serves the purpose of an automatic gearbox to increase
torque. Furthermore, torque converters tend to act as an inertial flywheel,
since they are so heavy and due to this flywheel effect, torque converter
vehicles have more consistent and smoother operations than clutch vehicles.
Browse 159 market Figures spread through 214 Pages and
an in-depth TOC on "Global
Automotive Torque Converter Market”.
https://www.techsciresearch.com/report/global-automotive-torque-converter-market/1520.html
Global automotive torque converter market is segmented
on the basis of vehicle, transmission, stage, propulsion, and regional
distribution. On the basis of vehicle, the market is segmented into passenger
cars, light commercial vehicles and medium & heavy commercial vehicles. The
demand for automotive torque converters in the passenger car segment increased
significantly in the past few years globally. The passenger car automotive
torque converter segment accounted for 75.48% market share, in terms of volume,
in 2020 and the segment’s share is projected to reach around 76.30% by 2026.
High penetration of automatic transmission systems in passenger cars makes it
the major demand creator for automotive torque converters.
Leading
players operating in the global automotive torque converter market include:
- Sonnax Transmission Company, Inc.
- Schaeffler Technologies AG & Co. KG
- ZF Friedrichshafen AG
- Exedy Corporation
- Yutaka Giken Company Limited.
- Dynax Corporation
- Jatco Ltd.
- Jeon Woo Precision Co,. Ltd.
- BorgWarner Inc.
- Precision Industries
- Valeo Group
- Aisin Corporation
- Shaanxi Aerospace Power Hi-tech Co., Ltd
- Dana Limited
- Allison Transmission Inc.
- Transtar Industries Inc.
- Unipres Corporation.
- RevMax Performance Converters
- TCI Automotive LLC
- A-1 Performance Trans & Converters
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“Asia-Pacific
region holds the largest share in the automotive torque converter market with
45.59% share in 2020 in terms of volume, led by China, as the country holds the
major share in the Asia-Pacific region with 51.10% share in 2020. The
Asia-Pacific region is the key automobile manufacturing hub across the world.
According to the International Organization of Motor Vehicle Manufacturers
(OICA) statistical data, a total of 44,289.90 thousand automobiles were
produced in 2020, which proportionally leads to the majority of demand for
automotive torque converters in the region. Moreover, the region is witnessing
a high penetration rate of the automatic transmission system in the vehicles
produced, further creating greater demand for automotive torque converters.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Automotive Torque Converter
Market - Global Industry Size, Share, Trends, Competition, Opportunity and
Forecast, 2016-2026, Segmented By Vehicle
Type (Passenger Cars, LCV, M&HCV), By Transmission Type (Automatic
Transmission (AT), Automated Manual Transmission (AMT), Dual-Clutch
Transmission (DCT) and Others), By Stage (Acceleration, Coupling, Stall), By
Propulsion Type (Petrol/CNG, Diesel, Electric & Hybrid), By Region”, has
evaluated the future growth potential of Global automotive torque converter market
and provided statistics & information on market size, shares, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of Global automotive
torque converter market.
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