Global Torque Converter Market Size, Share, Growth Analysis, By Type, By Transmission Type(Continuously Variable Transmission, Semi-Automatic), By Vehicle Type

Description

Global Torque Converter Market size was valued at USD 7.6 billion in 2022 and is poised to grow from USD 7.93 billion in 2023 to USD 11.08 billion by 2031, growing at a CAGR of 4.28% during the forecast period (2024-2031).

The global torque converter market is witnessing significant expansion driven by key factors within the automotive sector. A major catalyst for market growth is the rising demand for automatic transmissions, particularly in passenger vehicles. Moreover, the increasing production of electric and hybrid vehicles is also contributing to the demand for torque converters. Furthermore, technological advancements in torque converter technology, such as the development of lock-up torque converters for improved fuel efficiency, are influencing market dynamics. The aftermarket segment is experiencing growth due to the replacement of older torque converters. Regionally, Asia-Pacific emerges as a dominant market, fueled by the robust automotive industry in countries like China and India. These insights highlight a dynamic market that responds to evolving automotive trends and consumer preferences.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Torque Converter Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Torque Converter Market Segmental Analysis

The global Torque Converter market is segmented into four major segments i.e. by Type, Transmission Type, Vehicle Type, and region. Based on Type, it is divided into Fluid Coupling, Hydraulic Torque Converter, Toroidal or CVT Torque Converter. Based on Transmission Type Automatic, Continuously Variable Transmission (CVT), Semi-Automatic. Based on Vehicle Type it is segregated into, Passenger Vehicles, Commercial Vehicles, Electric Vehicles. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.

Drivers of the Global Torque Converter Market

The surging demand for automatic transmissions, particularly in passenger vehicles, is a key driving force behind the rising popularity of torque converters, which are essential components of such systems. This trend is fueled by global consumer preferences for the convenience and simplicity offered by automatic transmissions. Moreover, the increasing production and adoption of electric and hybrid vehicles are significant contributors to the growing torque converter market, as these vehicles frequently integrate torque converters into their transmission systems.

Restraints in the Global Torque Converter Market

In the global torque converter market, one significant restraint is the increasing demand for electric vehicles (EVs) and the consequent shift away from traditional internal combustion engine vehicles. This transition poses a challenge to the torque converter market, as EVs typically do not require torque converters, impacting their demand and growth prospects.

Market Trends of the Global Torque Converter Market

The ongoing trend is toward integrating advanced materials and technology into torque converter design, leading to improved performance and longevity. Concurrently, there's a market shift towards developing more fuel-efficient torque converters, reflecting the automotive industry's focus on environmental sustainability.

Product Code: SQMIG20I2214

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Torque Converter Market by Type

Market Overview
Fluid Coupling
Hydraulic Torque Converter
Toroidal or CVT Torque Converter

Global Torque Converter Market by Transmission Type

Market Overview
Continuously Variable Transmission (CVT)
Semi-Automatic

Global Torque Converter Market by Vehicle Type

Market Overview
Passenger Vehicles
Commercial Vehicles
Electric Vehicles

Global Torque Converter Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2023
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2023

Key Company Profiles

Schaeffler Group (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
ZF Friedrichshafen AG (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Aisin AW (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
BorgWarner Inc. (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Valeo Group (France)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Exedy Corporation (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Jatco Ltd. (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Isuzu Motors Ltd. (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Subaru Corporation (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Voith Turbo-Transmissions (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Precision Industries (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Shantui Construction Machinery Co., Ltd. (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
LuK USA LLC (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sonnax Transmission Company, Inc. (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Transtar Industries (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Yutaka Technologies Co., Ltd. (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
ACC Performance Products (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Twin Disc Incorporated (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Dana Incorporated (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Eaton Corporation (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Torque Converter Market Size, Share, Growth Analysis, By Type, By Transmission Type(Continuously Variable Transmission, Semi-Automatic), By Vehicle Type - Industry Forecast 2024-2031