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Pulished Date February, 2021
ID: 11218
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Torque Converter Market Segmentation by Automatic Transmission Type (AMT, DCT, CVT), By Vehicle Type (Passenger Car, HCV, LCV), By End Users (OEM, Aftermarket) and Region - Industry Analysis, Share, Growth, and Forecast 2021 -2026

Pulished: February, 2021
ID: 11218
Pages: 175

Torque Converter Market Size, Trends & Growth (2021 - 2026)

The torque converter in a programmed transmission fills a comparable need as a grip in a manual transmission. The interest in torque converters is legitimately identified with the expanded utilization of programmed transmission in current vehicles. The main characteristics of a torque converter are its ability to multiply the torque when there is a substantial difference between the input and the output of motor rotation. Torque is a sort of pressure driven coupling that depends on hydrodynamic liquid to permit the motor to work autonomously of the transmission.

The torque converter market is driven by the strong penetration of automatic transmission (AT) in mid- and high-end cars. In addition, the increasing penetration of continuously variable transmission (CVT) in mid-tier vehicles is supposed to boost the developing market. The growing demand for luxury, comfort and convenience is driving technological advances in the market. The global torque converter market is estimated to reach $ 9.88 billion by 2026, with a CAGR of 5.78% during the forecast period.

Recent Developments:

  • The Chinese branch of German auto parts manufacturer Schaeffler pulled its millionth torque converter off the assembly line at the Taicang plant. Not only do torque converters provide vehicles with more torque during acceleration, but they also effectively dampen torsional vibrations from the engine and transmission, so power is transferred more easily, efficiently, and quickly to the wheels.
  • ZF intelligently designed a new generation 8-speed automatic transmission for hybrid transmissions.
  • Japanese clutch maker Exedy Corp. spends around 10 billion yen ($ 87 million) to expand its business in Shanghai to meet the growing demand for automatic transmissions in China.

IMPACT OF COVID-19 ON TORQUE CONVERTER MARKET:

The auto industry forecasts a loss of 7.5 lakh of production units and $ 2 billion in revenue in March alone due to closings to combat the Covid-19 pandemic. Production is nearly stagnant as state governments have imposed closures and companies themselves have closed their factories to help break the chain of the coronavirus transmission. And, more than half a dozen industry leaders and experts said that even an improvement in the COVID-19 situation would not bring much relief to the industry in April, as consumer confidence would take a while to back to normal.

Drivers and Restraints of Torque Converter Market:

Drivers:

The torque converters run quietly and help reduce fuel consumption as lag is reduced due to the lack of manual gear shifting. The increasing demand for comfort has led to developments in automatic transmissions and continuously variable transmission (CVT), which has led to the demand for torque converters. The torque converter requires little maintenance and less frequency to replenish transmission fluid because it is a sealed unit. Pollution regulations and government mandates have led manufacturers to develop fuel-saving technologies. The use of a torque converter improves fuel combustion by achieving optimal torque ratios. The automotive torque converter market is expected to grow due to the increasing demand for fuel saving technologies. The torque converter developed by Nissan Motor Corporation reduces transmission time by 30%, resulting in a smoother ride and lower fuel consumption. Furthermore, the market for automotive torque converters is supposed to grow due to rising consumer demand for better handling and comfort.

Restraints:

The torque converter is more expensive than the conventional gearbox because it is advanced technology. The torque converter with its components such as the turbine, impeller and vaned stator offers less possibility of repair as it is a sealed unit.

Torque Converter Market Segmentation:

By Automatic transmission type:

  • AMT (Automated Manual Transmission)
  • DCT (Dual-Clutch Transmission)
  • CVT (Continuously Variable Transmission)

Expanding creation of automatic vehicles in North America offers huge potential for the global torque converter market. The expansion in the quantity of CVT incorporated business vehicles is probably going to animate the interest for force converters. With the increasing demand for premium segment CVT vehicles in Asia Pacific, the demand for torque converters used in CVT vehicles is likely to exceed the demand for torque converters used in AT and DCT vehicles. As a result, the CVT torque converter segment is considered the fastest growing market, by transmission.

By Vehicle type:

  • Passenger Car
  • HCV (Heavy Commercial Vehicles)
  • LCV (Low Commercial Vehicles)

The passenger car segment has a large share of the torque converter market due to the high rate of adoption of automatic transmission in passenger cars and the increase in vehicle production. Thanks to improved technology, fully automatic utility vehicles are as fuel efficient as manual utility vehicles. The automatic transmission provides the user with a fatigue-free experience as the user does not have to make frequent gear changes. Ease of driving, especially in heavy traffic, creates a demand for automatic transmission. Over the years, many of the major automotive companies have focused on technologies to improve the automatic transmission of commercial vehicles.

By End users:

  • Original Equipment Manufacturer (OEM)
  • Aftermarket 

The OEM segment has a large market share due to increased vehicle production around the world.

Torque Converter Market Regional Analysis:

Marked Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada
  2. Europe
    1. Norway
    2. Germany
    3. Sweden
  3. Asia Pacific
    1. China
    2. India
    3. Japan
  4. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  5. Middle East and Africa

a. Middle East

b. Africa

The Americas are expected to have a notable share in the global torque converter market, as the adoption of automatic transmission in medium and heavy-duty trucks is observed on a larger scale in their region. As one of the leading manufacturers of AT vehicles, North America has a significant number of passengers equipped with automatic transmission systems, so it is expected to remain a leading region in the torque converter market during the forecast period. The demand for CVT vehicles in developing countries such as China and India is increasing. Because of expanded creation of programmed vehicles and developing interest for CVT vehicles, Asia-Pacific is relied upon to be the biggest torque converter market by 2025.

Key Players of Market:

The global torque converter market consists of manufacturers such as Schaeffler (Germany), ZF (Germany), Aisin (Japan), EXEDY (Japan), BorgWarner (US), and Valeo (France); OEMs such as Volkswagen Group (Germany), Mercedes-Benz (Germany), Ford (US), Hyundai (South Korea), Toyota (Japan), and TATA (India); and equipment manufacturer associations such as Automotive Component Manufacturers Association of India (ACMA), Japan Automotive Manufacturers Association (JAMA), European Automobile Manufacturers' Association (ACEA), and Canadian Vehicle Manufacturers' Association.

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Torque Converter Market, By Automatic Transmission Type                

                    6.1.1 AMT    

                    6.1.2 DCT    

                    6.1.3 CVT     

                    6.1.4 Market Size Estimations & Forecasts (2021-2026)        

                    6.1.5 Y-o-Y Growth Rate Analysis         

                    6.1.6 Market Attractiveness Index         

          6.2 Torque Converter Market, By Vehicle Type           

                    6.2.1 Passenger Car

                    6.2.2 HCV    

                    6.2.3 LCV     

                    6.2.4 Market Size Estimations & Forecasts (2021-2026)        

                    6.2.5 Y-o-Y Growth Rate Analysis         

                    6.2.6 Market Attractiveness Index         

          6.3 Torque Converter Market, By End-Users               

                    6.3.1 Aftermarket   

                    6.3.2 OEM    

                    6.3.3 Market Size Estimations & Forecasts (2021-2026)        

                    6.3.4 Y-o-Y Growth Rate Analysis         

                    6.3.5 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Automatic Transmission Type  

                    7.2.3 By Vehicle Type        

                    7.2.4 By End-Users 

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Automatic Transmission Type  

                    7.3.3 By Vehicle Type        

                    7.3.4 By End-Users 

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Automatic Transmission Type  

                    7.4.3 By Vehicle Type        

                    7.4.4 By End-Users 

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Automatic Transmission Type  

                    7.5.3 By Vehicle Type        

                    7.5.4 By End-Users 

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Automatic Transmission Type  

                    7.6.3 By Vehicle Type        

                    7.6.4 By End-Users 

8. Key Player Analysis                           

          8.1 Schaeffler                   

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 ZF          

          8.3 Aisin                

          8.4 EXEDY              

          8.5 BorgWarner                 

          8.6 Valeo               

          8.7 Volkswagen Group                

          8.8 Mercedes-Benz           

          8.9 Ford                 

          8.10 Hyundai          

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of by type, by application, by end-user, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. North America Torque Converter Market By Automatic Transmission Type, From 2021-2026 ( USD Billion )
  2. North America AMT Market By Region, From 2021-2026 ( USD Billion )
  3. North America DCT Market By Region, From 2021-2026 ( USD Billion )
  4. North America CVT Market By Region, From 2021-2026 ( USD Billion )
  5. North America Torque Converter Market By Vehicle Type, From 2021-2026 ( USD Billion )
  6. North America Passenger Car Market By Region, From 2021-2026 ( USD Billion )
  7. North America HCV Market By Region, From 2021-2026 ( USD Billion )
  8. North America LCV Market By Region, From 2021-2026 ( USD Billion )
  9. North America Torque Converter Market By End-Users, From 2021-2026 ( USD Billion )
  10. North America Aftermarket Market By Region, From 2021-2026 ( USD Billion )
  11. North America OEM Market By Region, From 2021-2026 ( USD Billion )
  12. United States Torque Converter Market By Automatic Transmission Type, From 2021-2026 ( USD Billion )
  13. United States Torque Converter Market By Vehicle Type, From 2021-2026 ( USD Billion )
  14. United States Torque Converter Market By End-Users, From 2021-2026 ( USD Billion )
  15. Canada Torque Converter Market By Automatic Transmission Type, From 2021-2026 ( USD Billion )
  16. Canada Torque Converter Market By Vehicle Type, From 2021-2026 ( USD Billion )
  17. Canada Torque Converter Market By End-Users, From 2021-2026 ( USD Billion )

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