PUBLISHER: TechSci Research | PRODUCT CODE: 1053862
PUBLISHER: TechSci Research | PRODUCT CODE: 1053862
We offer 8 hour analyst time for an additional research. Please contact us for the details.
The global automotive torque converter market stood at USD15,357.26 million in 2020 and is anticipated to grow at a CAGR of 6.02% during the forecast period to reach USD22,736.82 million by 2026. Ongoing technological advancements, increasing demand for hybrid electric vehicles, and surging usage in commercial vehicles are the primary factors that are expected to drive the growth of the global automotive torque converter market in the forecast period.
The rise in the number of vehicles on the road is increasing traffic congestion in urban areas around the globe. Automotive manufacturers are installing automatic transmissions in automobiles to make the vehicles navigate easily through dense traffic. The automotive torque converter ensures that the vehicle starts and stops, therefore enriching the consumers' driving experience. Innovations in technologies used in automobiles and the growing utilization of automotive torque converts in commercial vehicles are bolstering the market demand all over the globe. The growing disposable income of consumers makes them able to invest in advanced technologies such as the use of concave clutch technology in automobiles, which is influencing the market demand. Furthermore, increasing vehicle fleet, development of efficient transportation and logistics industry, and the need to enhance the driving experience by manufacturers are expected to boost the global automotive torque converter market growth in the forecast period. However, high maintenance costs and the risk of malfunctioning automotive torque converts may hinder the market growth in the forecast period.
The global automotive torque converter market is segmented based on vehicle, transmission, stage, propulsion, region, and competitional landscape. Based on the vehicle type, the market is divided into passenger cars, LCV and M&HCV. The passenger car segment is expected to hold the largest market share in the forecast period. The rise in the purchasing power of consumers, increase in the market players, and launch of advanced features in automobiles are driving the demand for passenger cars all over the globe.
Major market players operating in the global torque converter market are 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.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of leading manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major players operating in the automotive torque converter market all over the world.
TechSci Research calculated the global automotive torque converter market size using a bottom-up approach, where data for various regions was recorded and forecasted for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as automotive torque converter market, suppliers, distributors, and other stakeholders. The report would enable the stakeholders in strategizing investments and capitalizing on emerging market opportunities.
Report Scope:
In this report, global torque converter market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Passenger Car
Light Commercial Vehicle
Medium & Heavy Commercial Vehicle
AT
AMT
DCT
Others
Acceleration
Coupling
Stall
Petrol/CNG
Electric & Hybrid
Diesel
Asia-Pacific
Europe
North America
Middle East & Africa
South America
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global automotive torque converter market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information