Torque Converter Market: Introduction
A torque converter is a component that serves as a connection between the transmission and the engine of a vehicle, enabling the engine to spin independently from the transmission. The market for torque converters will see opportunities due to the rise in the production of automatic transmission (AT) automobiles, which minimise the need for clutches and make gearshifts easier.
Thus, it is anticipated that during the projected period, the global market for torque converters in automobiles would expand moderately. More people are anticipated to purchase automatic transmission vehicles around the world due to the ease of driving that comes with them. In addition to these advantages, automatic transmission systems in medium and heavy-duty passenger cars and trucks also offer great efficiency, ease of operation, and fewer accident records. Thus, over the course of the projected period, it is expected that the torque converter market would experience strong expansion.
By decreasing the weight and size of the torque converter, improving the lock up range, automating the production process, and other methods, manufacturers are also leaning toward optimising torque converters to improve their technology and operational efficiency. During the projected period, the torque converter market is anticipated to see strong growth as a result of these new manufacturing processes.
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Segmentation
Automatic Transmission Type
- AMT (Automated manual Transmission)
- DCT (Dual-Clutch Transmission
- CVT (continuously variable transmission)
Vehicle Type
- Passenger car
- HCV (Heavy Commercial vehicles)
- LCV (Low Commercial vehicles)
End Users
- Original equipment manufacturer (OEM)
- Aftermarket
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Region Wise Outlook
The Americas is expected to account remarkable market share in the torque converter market as adoption of automatic transmission in medium and heavy duty truck is observed at higher extent in his region. Being one of the prominent manufacturer of AT vehicles, North America has substantial number of passenger equipped with automatic transmission systems thus it is expected to remain prominent region for torque converter market during the forecast period.
The torque converter market is expected significant opportunities in Asia Pacific regions of fastest growing nations like India, Japan and China for its OEM segment to experience highest growth that demands automatic transmission during the forecast period. China being one the significant market for automotive have growing demand for automatic transmission systems for premium and luxury vehicles is expected to show noticeable growth in torque converter market over the forecast period.
Unlike Japan and North America, Europe opts for manual transmission vehicles which leads to low demand for AT system resulting to lean growth for torque converter market.
Players
- EXEDY Corporation
- Schaeffler Technologies AG & Co. KG
- Yutaka Giken Company Limited
- ZF Friedrichshafen AG
- Dynamic Manufacturing
- Precision Industries
- Sonnax Industries, Inc
- TRANSTAR INDUSTRIES, INC.
- ACC Performance Products Plus
- Stewart & Stevenson
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Regional analysis includes:
- North America
- Latin America
- Asia Pacific
- Japan
- Western Europe
- Eastern Europe
- Middle East & Africa
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