Category : Automotive, Transportation and Logistics | Published at : November-2020 | Delivery Format : PDF | Status: Published | Pages : 190
The market for automotive torque converter is expected to grow at a CAGR of around 5.3% from 2020 to 2027 and expected to reach the market value of around US$ 11.2 Bn by 2027.
An automotive torque converter is a kind of hydraulic transmission that upsurges the torque of the vehicle by reducing its speed. It delivers a continuous deviation of ratio from high to low.
Market Dynamics
The increasing adoption of torque converters in commercial vehicles, improvement in technology, and higher penetration of automatic transmission systems in the market are driving the market growth. The ease of driving, especially in heavy traffic is creating a demand for an automatic transmission. The increasing sales of commercial vehicles due to escalating activities in the mining, construction, tourism, and logistics sectors are further bolstering the market growth. The major automotive companies are focusing on technologies to improve automatic transmission in commercial vehicles is additionally propelling the market value.
On the other side, uncertainty in raw material prices is projected to hinder the growth to an extent over the forecast period from 2020 to 2027.
Segment Instance
Commercial vehicles segment is projected to exhibit fastest growth throughout the forecast period
Based on vehicle type, the commercial vehicles segment is likely to experience the fastest growth with a major CAGR (%) in the market. The increasing usage of the automotive torque converter in commercial vehicles due to the increased ability to operate the vehicle with the heavy load is bolstering the market value. The increasing automation of the commercial sector along with the advanced technology solutions is supporting the segmental market value. The developing economies of the Asia Pacific region are further bolstering the segmental market value.
North America accounted for the maximum revenue share in the global market
In 2019, North America registered maximum revenue share in the automotive torque converter market and the region is projected to experience stable growth throughout the forecast period from 2020 to 2027. The presence of a high-income population along with the easy availability of advanced technology in the region is bolstering the regional market value. The increased adoption of automatic transmission in heavy-duty and medium-duty commercial vehicles, high fuel efficiency, comfort, ease of driving, and low driving skill required for fleet owners to opt for automatic transmission in heavy and medium-duty commercial vehicles are some of the factors driving the regional market value.
Asia Pacific is projected to exhibit fastest growth throughout the forecast period from 2020 to 2027
Asia Pacific is projected to exhibit the fastest growth with a major CAGR (%) throughout the forecast timeframe from 2020 to 2027. The expanding automotive sector of the developing economies of the region is accelerating market growth. The advantages associated with the automotive torque converter are supporting the growth in the regional market. The increasing production and demand of automotive vehicle in emerging economies like China and India are bolstering the regional market value.
Key Market Players
The players profiled in the report include Aisin (Japan), BorgWarner (US), Continental AG (Germany), Delphi Technologies (UK), Exedy Corporation (Japan), Isuzu Motors Ltd. (Japan), Jatco (Japan), Precision Torque Converter, Schaeffler-LUK, Sonnax, Subaru (Japan), Transtar, Valeo (France), Voith (Germany), and ZF (Germany). The major market players were involved in mergers and acquisitions, partnerships & collaborations, and new Source development for the expansion of market share (%).
Market Segmentation
Market By Transmission Type
Automated Manual Transmission (AMT)
Dual-Clutch Transmission (DCT)
Continuously Variable Transmission (CVT)
Others
Market By Component
Clutch Plate
Damper
Impeller
Turbine
Stator
Market By Vehicle Type
Passenger Vehicles
Commercial Vehicles
Market By Geography
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
The market for automotive torque converter is expected to reach a market value of around US$ 11.2 Bn by 2027.
The automotive torque converter market is expected to grow at a CAGR of around 5.3% from 2020 to 2027.
The increasing adoption of torque converters in commercial vehicles, improvement in technology, and higher penetration of automatic transmission systems in the market, ease of driving, especially in heavy traffic is creating a demand for an automatic transmission, increasing sales of commercial vehicles due to escalating activities in the mining, construction, tourism, and logistics sectors, and major automotive companies focusing on technologies to improve automatic transmission in commercial vehicles are some of the factors driving the market growth.
Aisin (Japan), BorgWarner (US), Continental AG (Germany), Delphi Technologies (UK), Exedy Corporation (Japan), Isuzu Motors Ltd. (Japan), Jatco (Japan), Precision Torque Converter, Schaeffler-LUK, Sonnax, Subaru (Japan), Transtar, Valeo (France), Voith (Germany), and ZF (Germany) are the prominent players in the industrial pollution monitoring equipment market.
North America held the highest market share in the automotive torque converter market
Asia Pacific is expected to be the fastest growing market over the forecast period
