Global Torque Converter
Market Report
2024
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to cognitive market research, the global torque converter market size was valued at USD xx billion in 2024 and is expected to reach USD xx billion at a CAGR of xx% during the forecast period.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Market Size | 121212 |
Country Market Size | 121212 |
North Americ Market Size | 121212 |
Europe Market Size | 121212 |
Asia Pacific Market Size | 121212 |
South America Market Size | 121212 |
Middle East and Africa Market Size | 121212 |
Market Drivers:
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Market Restrains:
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Market Trends:
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Market Split by Transmission type |
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Market Split by Component |
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Market Split by Vehicle Type |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Torque Converter industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Torque Converter Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The torque converter in an automatic transmission serves a purpose similar to a clutch in a manual transmission. The demand for torque converters is directly related to the increased use of automatic transmission in modern vehicles.
In addition to these, the growing fleet of vehicles, the growth of the transportation and logistics sector, and the need on the part of manufacturers to improve the driving experience are anticipated to propel the growth of the global automotive torque converter market during the forecast period. Nevertheless, during the projected period, high maintenance expenses and the possibility of automotive torque converter malfunctions could impede market expansion.
The growing demand for luxury and passenger cars in developed nations is propelling the torque converter market's compound annual growth rate (CAGR). This is leading to a significant increase in the use of automatic transmissions, dual-clutch systems, and torque converters in automobiles. When these cutting-edge systems are used, driving becomes effortless, and less effort is required during traffic-jammed stop-and-go situations. The torque converter market's revenue growth is driven by the high demand for these sophisticated systems. In addition, the need for torque converters has increased due to the growing prevalence of automatic transmissions in contemporary cars. One of a torque converter's most crucial functions is its ability to multiply torque in situations where the engine's rotational input and output differ significantly.
• For instance, as per the International Organization of Motor Vehicle Manufacturers, globally more than 21 million automotive vehicles are produced between January and March 2021. Increasing vehicle production and growing awareness regarding the safety of passengers and drivers are prompting original equipment manufacturers to install advanced position, level, and speed sensors.
(Source:https://www.oica.net/production-statistics/)
The torque converter market is being driven forward by the persistent growth of the global automotive sector. Torque converters are becoming more and more necessary due to the increasing number of vehicles being produced worldwide, including cars, trucks, and off-road equipment. In addition, the preference for automatic gearboxes over manual counterparts has been steadily increasing. Automatic transmissions are easy to use and convenient, especially in crowded urban environments. The demand for torque converters, a crucial part of automatic gearbox systems, has sharply increased as a result of this shift. thus supporting the market expansion for automotive torque converters.
One major constraint is the growing trend towards electric vehicles (EVs). Since electric vehicles use electric motors instead of internal combustion engines for propulsion, they do not need torque converters, making conventional gearbox components obsolete. This change hurts the market by reducing the need for torque converters in the automotive industry. The automotive torque converter market must adjust to the shifting environment as EV adoption rises by broadening its product line or looking into new markets to maintain growth.
• For instance, Govt awaits Tesla's India plans, urges Vinfast, and BMW to invest in new capacity for EVs. The new policy offers incentives for high-end cars, including the import of 26,000 units annually with INR 4,150 crore investment. Existing players are eligible for incentives. Focus on localization and attracting Tesla to invest in India.
(Source:https://www.india-briefing.com/news/indias-new-ev-policy-to-attract-investments-boost-imports-31667.html/)
Global auto sales and production fell precipitously as a result of widespread lockdowns and economic uncertainty, which decreased demand for torque converters. Production and distribution delays were brought on by manufacturing stoppages and supply chain disruptions, which made the situation even worse. The market saw a decrease in investments in torque converter technology research and development as consumer spending and investment in the automotive industry stagnated. The market is anticipated to recover, albeit with a shift towards hybrid and electric vehicle technologies, with a gradual economic recovery and increased emphasis on vehicle electrification.
In automated driving setups, torque converters which have historically been essential for transferring power from the engine to the transmission—find themselves with greater significance. Torque converters can help smooth the transitions between the acceleration, deceleration, and coasting phases as vehicles become more autonomous. This will ensure that automated driving systems operate more smoothly. Torque converters can also help with energy efficiency and optimized power delivery, which are important when it comes to the energy management and performance requirements of autonomous vehicles. Torque converters are essential elements in the shift to autonomous driving technology, as this integration corresponds with the changing demands of the automotive sector.
• For instance, in January 2024 Citroen launched the Citroen C3 Aircross SUV fitted with a six-speed torque converter automatic gearbox. It keeps its existing 110 PS 1.2-litre turbo-petrol engine but gets more torque, 205 Nm.
(Source:https://www.carwale.com/news/citroen-c3-aircross-at-launched-in-india-all-you-need-to-know/)
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Major market participants who are essential in determining consumer preferences and market dynamics have a major impact on the torque converter market. These major players provide consumers with easy access to a vast array of wardrobe options through their extensive retail networks and online platforms. Product adoption has increased as a result of their strong worldwide presence and well-known brand, which has also increased consumer trust and loyalty. In addition, these industry titans never stop funding R&D, bringing cutting-edge styles, materials, and practical features to clothing wardrobes to meet changing customer demands and preferences. These big players' combined efforts have a big impact on the market's future direction and level of competition.
Top Companies Market Share in Torque Converter Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
North America dominates the market. North America is expected to be the fastest-developing area in the Torque Converter marketplace. Modern torque converter innovations are among the cutting-edge automotive technologies that the region is leading the way in integrating and adopting. The region's rapid growth is aided by the expanding market for electric cars in North America, which frequently have torque converters in their gearboxes.
The segment market has grown due in large part to rising consumer spending power and a preference for larger cars, especially trucks and SUVs, which has increased torque demand for converter-equipped automatic transmissions. This trend includes off-road and commercial applications in addition to passenger cars.
Due to the rising production of luxury and high-end vehicles and rising demand for small passenger automatic gearbox cars, which has enabled the deployment of torque converter systems in this region, Europe has the second-largest market share for torque converters. In addition, the European market with the biggest market share was the German torque converter market, while the fastest-growing market was the UK torque converter market.
The automotive industry in the United Kingdom is well-established and prioritizes technological advancements and excellence in manufacturing. It is easier for torque converter manufacturers to serve the home market when there are well-known automakers and suppliers in the area.
The current report Scope analyzes Torque Converter Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global Torque Converter Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Torque Converter Industry growth. Torque Converter market has been segmented with the help of its Transmission type, Component Vehicle Type, and others. Torque Converter market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on the transmission type the market is segmented into AMT, CVT., And DCT. From these AMT dominates the market. This technology has become more and more common because it is less expensive than traditional automatic transmissions, particularly in small and entry-level cars. Despite not using torque converters, AMTs' presence in the market has had an impact on the dynamics of the torque converter industry. AMTs have occasionally become popular as torque converter-equipped automatic gearbox substitutes, especially in more affordable car classes. AMT technology attracts customers looking for reasonably priced automatic transmission options because it provides smoother gear shifts and improved fuel efficiency when compared to manual transmissions.
• For instance, In September 2020, The Skoda Rapid automatic was launched with an automatic transmission with turbo petrol engines in India. The Rapid AMT will compete with the Hyundai Verna turbo DCT, Honda City CVT, and the Toyota Yaris CVT. The only other torque converter automatic happens to be the Maruti Suzuki Ciaz, but then it uses a 4-speed AT.
(Source:https://www.carandbike.com/news/skoda-rapid-turbo-at-vs-hyundai-verna-dct-cvt-vs-volkswagen-vento-at-vs-honda-city-cvt-vs-maruti-suzuki-ciaz-at-price-comparison-2296964)
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Torque Converter Industry. Request a Free Sample PDF!
Based on the components the market is segmented into clutch plate, damper, impeller, turbine, and stator. Among these, the Clutch Plate segment had the highest share in 2024. This is mostly because more and more cars are being sold and produced, and these cars need a lot of clutch plates to transfer torque. Similar to how transmissions in cars transfer engine power to the wheels, heavy industrial equipment like forklifts, tractors, and haulers use transmissions to do the same. To prevent engines from stalling, torque converters and clutches both transfer power from the gearbox. The primary distinctions between them are in their functions and modes of operation. Torque converters enable the engine and gearbox to function independently of one another, whereas clutches connect the two. Torque converters use hydraulic power, whereas clutches use centrifugal force.
• For instance, the company LuK manufactures more than 2 million clutches as conventional torque converters annually for the automatic transmission market.
(Source:https://wardsintelligence.informa.com/wi040249/dual-clutch-transmission-manufacturing-rapidly-expanding)
• For instance, Valeo announced that it had started production of its new dry dual-clutch torque converter for hybrid vehicles. The new torque converter is designed to improve fuel economy and emissions performance - June 2023
(Source:https://www.valeo.com/en/transmission-portfolio/)
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Torque Converter market report 2024 Edition by contacting our team.
Based on the vehicle type the market is segmented into passenger vehicle and commercial vehicle. The passenger vehicle segment accounted for the largest market share in 2024 and is likely to retain its market position throughout the forecast period. There are a few important factors that contribute to this expansion. First and foremost, urbanization and growing disposable incomes have been the main drivers of the world's ever-increasing demand for passenger cars. The number of people opting for personal vehicles for their daily commute has led to a rise in the need for torque converters in passenger cars as well as automatic transmissions. Torque converters are a necessary component of automatic transmissions because passenger car buyers are becoming more and more accustomed to the seamless, effortless gear shifting and enhanced driving experience these transmissions provide. The torque converter market is expanding, and the passenger vehicle segment is leading the way thanks to manufacturers' constant innovation to improve performance and fuel efficiency. This market is expected to grow steadily in the coming years.
• For instance, as per the International Organization of Motor Vehicle Manufacturers, globally more than 21 million automotive vehicles are produced between January and March 2021. Increasing vehicle production and growing awareness regarding the safety of passengers and drivers are prompting original equipment manufacturers to install advanced position, level, and speed sensors.
(Source:https://www.oica.net/production-statistics/)
Senior Research Analyst at Cognitive Market Research
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Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
The torque converter in an automatic transmission serves a purpose similar to a clutch in a manual transmission. The demand for torque converters is directly related to the increased use of automatic transmission in modern vehicles. Torque converters are a necessary component of automatic transmissions because passenger car buyers are becoming more and more accustomed to the seamless, effortless gear shifting and enhanced driving experience these transmissions provide. Major market participants who are essential in determining consumer preferences and market dynamics have a major impact on the torque converter market.
Disclaimer:
Transmission type | AMT, CVT, DCT |
Component | Clutch Plate, Damper, Impeller, Turbine, Stator |
Vehicle Type | Passenger Car, Commercial Vehicle |
List of Competitors | Schaeffler, ZF, Aisin, Valeo, Kapec, Transtar., Exedy, Yutaka Giken, Borgwarner, Sonnax Industries, Hitachi Nico Transmission Co.Ltd. |
This chapter will help you gain GLOBAL Market Analysis of Torque Converter. Further deep in this chapter, you will be able to review Global Torque Converter Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Torque Converter Market Trends North America Torque Converter Technological Road Map North America Torque Converter Market Drivers North America Torque Converter Market Restraints North America Torque Converter Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
You can purchase only the Executive Summary South America Market (2019 vs 2024 vs 2031)
Chapter 6 Middle East and Africa Market Analysis
You can purchase only the Executive Summary Middle East and Africa Market (2019 vs 2024 vs 2031)
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Transmission type Analysis 2019 -2031, will provide market size split by Transmission type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Transmission type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Component Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Vehicle Type Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Torque Converter market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why AMT have a significant impact on Torque Converter market? |
What are the key factors affecting the AMT and CVT of Torque Converter Market? |
What is the CAGR/Growth Rate of Clutch Plate during the forecast period? |
By type, which segment accounted for largest share of the global Torque Converter Market? |
Which region is expected to dominate the global Torque Converter Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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