Automotive Torque Converter Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

The automotive torque converter market share is expected to increase by USD 1.52 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.3%.

The automotive torque converter market has been broadly categorized into the following demographic segmentations: 

• Application - Passenger cars and commercial vehicles
• Geography - North America, Europe, APAC, South America, and Middle East and Africa

The automotive torque converter market report offers information on several market vendors, including Aisin Corp., BorgWarner Inc., Continental AG, Dynamic Manufacturing Inc., EXEDY Corp., Robert Bosch GmbH, Schaeffler AG, Sonnax Transmission Co. Inc., SUBARU Corp., Transtar Industries Inc., Valeo SA, Voith GmbH and Co. KGaA, Yutaka Giken Co. Ltd., and ZF Friedrichshafen AG among others.

One of the key highlights of the automotive torque converter market research report is the post COVID-19 impact analysis on the market, which will help companies evaluate their business approaches for the forecast period.

What will the Automotive Torque Converter Market Size be During the Forecast Period?

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"Electronic control systems in automobiles depend on automotive torque converters, the increased use of electronic components in automobiles will be a key factor driving market growth in the region during the forecast period." 

Automotive Torque Converter Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The globalization of the auto industry to increase the demand for automatic transmission vehicles in APAC is notably driving the automotive torque converter market growth, although factors such as preference for cars with manual transmissions in the European economies may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive torque converter industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Torque Converter Market Driver

The globalization of the auto industry to increase the demand for automatic transmission vehicles in APAC is one of the key drivers supporting the automotive torque converter market growth. Asian countries are the major producers of raw materials such as rubber and bullion materials, with a well-established supply chain network. Additionally, this region is considered one of the largest pools of experienced talent for the automotive industry. The region also has cost-effective operational structures, which increases the profit margins for OEMs. Due to these advantages, OEMs are incorporating advanced technologies, including CVTs and torque converters, into their vehicles. Thus, the globalization of the auto industry is expected to increase the demand for automatic transmission vehicles, which will fuel the growth of the global automotive torque converter market during the forecast period.

Key Automotive Torque Converter Market Trend

An increasing number of gears covering wider ratios for higher power and torque performance is one of the key automotive torque converter market trends fueling the market growth. For instance, the new 9G Tronic of Mercedes-Benz is the first gearbox for rear-wheel-drive vehicles with a torque converter. The engineers at Mercedes-Benz have focused primarily on the ease of gearshifts. They have focused on making the gearbox compact and lightweight, despite using two additional gears and a transmission system that is capable of delivering a maximum torque of 1,000 Nm. The engineers have also used a minimum number of planetary gear sets and shift elements for the system of nine gears. Thus, the growth of the powertrain technology has attracted consumers and OEMs that operate in the automatic transmission space, and this trend is expected to exert a positive impact on the global automotive torque converter market during the forecast period.

Key Automotive Torque Converter Market Challenge

The preference for cars with manual transmissions in the European economies is one of the limitations hampering the automotive torque converter market growth. The vehicles sold in the western European economies are expensive as compared to the ones sold in the North American and APAC countries because of the high taxes and insurance amounts. This increases the vehicle cost by 20-30% as compared to the same vehicle sold in other developed nations. Additionally, drivers need to have a separate license to drive automatic vehicles. The issues related to costs and high fuel prices restrict the market for automatic transmissions in Europe. In most cases, the adoption of automatic transmissions is limited to luxury and premium vehicles in the EU markets. All these factors are expected to hinder the growth of the global automotive torque converter market during the forecast period.

This automotive torque converter market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global automotive torque converter market as a part of the global automotive market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive torque converter market during the forecast period.

Market Overview

The parent market, the global automotive market, covers companies engaged in the production of vehicles such as passenger cars, commercial vehicles, and all-terrain vehicles. It does not include manufacturers of motorcycles, scooters, e-bikes, trikes, and three-wheelers.Technavio calculates the global automotive market size based on the combined revenue generated by the manufacturers of automobiles such as passenger cars, commercial vehicles, and all-terrain vehicles. 

Who are the Major Automotive Torque Converter Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Aisin Corp.
• BorgWarner Inc.
• Continental AG
• Dynamic Manufacturing Inc.
• EXEDY Corp.
• Robert Bosch GmbH
• Schaeffler AG
• Sonnax Transmission Co. Inc.
• SUBARU Corp.
• Transtar Industries Inc.
• Valeo SA
• Voith GmbH and Co. KGaA
• Yutaka Giken Co. Ltd.
• ZF Friedrichshafen AG

 

This statistical study of the automotive torque converter market encompasses successful business strategies deployed by the key vendors. The automotive torque converter market is fragmented and the vendors are deploying growth strategies such as quality, features, safety, and price to compete in the market.

Product Insights and News

• Aisin Corp. - The ADVICS group segment manufactures brake systems and components.  
• Aisin Corp. - The company offers automotive torque converters such as 1 motor hybrid transmission and RWD Multi Stage Hybrid Transmission. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive torque converter market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive Torque Converter Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive torque converter market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Automotive Torque Converter Market?

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43% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the automotive torque converter market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Rapid improvements in technology and evolved consumer demand will facilitate the automotive torque converter market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The automotive market in North America witnessed a temporary decline in growth owing to the outbreak of COVID-19 in 2020. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Due to such factors, the demand for automotive products increased globally, which is expected to lead to automotive torque converter market growth in this region during the forecast period.

What are the Revenue-generating Application Segments in the Automotive Torque Converter Market?

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The automotive torque converter market share growth by the passenger cars segment will be significant during the forecast period. The global passenger vehicles industry has witnessed the development of numerous ground-breaking technologies that have shaped the global automotive market dynamics in the past two decades. The developments in the field of powertrain, comfort, safety, and convenience have made the consumers change their buying preferences, resulting in the high demand for automatic gearboxes in passenger vehicles. Thus, the advantages of the most-used automated gearboxes, such as superior fuel efficiency and smoother and quicker gearshifts, are driving the demand for automated gearboxes in the passenger cars segment. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive torque converter market size and actionable market insights on post COVID-19 impact on each segment.

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Automotive Torque Converter Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 5.3%
Market growth 2022-2026	$ 1.52 billion
Market structure	Fragmented
YoY growth (%)	5.11
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	APAC at 43%
Key consumer countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Aisin Corp., BorgWarner Inc., Continental AG, Dynamic Manufacturing Inc., EXEDY Corp., Robert Bosch GmbH, Schaeffler AG, Sonnax Transmission Co. Inc., SUBARU Corp., Transtar Industries Inc., Valeo SA, Voith GmbH and Co. KGaA, Yutaka Giken Co. Ltd., and ZF Friedrichshafen AG
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Automotive Torque Converter Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive automotive torque converter market growth during the next five years
• Precise estimation of the automotive torque converter market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the automotive torque converter industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of automotive torque converter market vendors

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