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Torque Converter Market Analysis APAC, Europe, North America, South America, Middle East and Africa - China, US, Germany, Japan, India - Size and Forecast 2024-2028

Torque Converter Market Analysis APAC, Europe, North America, South America, Middle East and Africa - China, US, Germany, Japan, India - Size and Forecast 2024-2028

Published: Oct 2024 141 Pages SKU: IRTNTR71870

Market Overview at a Glance

$3.97 B
Market Opportunity
6.8%
CAGR
5.9
YoY growth 2023-2024(%)

Torque Converter Market Size 2024-2028

The torque converter market size is forecast to increase by USD 3.97 billion at a CAGR of 6.8% between 2023 and 2028.

  • The market is experiencing significant growth due to the globalization of the automotive industry, leading to increased demand for automatic transmission vehicles, particularly In the Asia-Pacific region. Additionally, technological advancements in torque converters continue to drive market growth, with innovations such as electronic control systems and improved materials enhancing efficiency and performance. However, high replacement and repair costs pose a challenge for consumers, potentially limiting market expansion. Overall, the market is expected to continue its growth trajectory, driven by these key trends and the ongoing demand for advanced automotive technologies.

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

    Torque Converter Market Size

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  • The market encompasses the production and sale of torque converters, a crucial component in automatic transmissions for various vehicles, including cars. A torque converter transmits power from a prime mover, such as an engine, to a rotating driven load, like a transmission shaft. It functions as a fluid coupling and a fluid clutch, utilizing an impeller, turbine, and stator to manage power flow. During the acceleration phase, the impeller wind-up toys with the fluid, creating potential energy, which is released during the coupling phase as kinetic energy to the turbine. The friction clutch engages when engine rpm matches the turbine rpm, ensuring efficient power transmission.
  • The torque converter housing houses these components and includes a lock-up clutch for improved vehicle fuel efficiency. Market trends include advancements in fluid technology, tilted blade designs, and improved stall and acceleration performance.

    • How is this Torque Converter Industry segmented and which is the largest segment?

    The torque converter industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

    • Application
      • Automotive
      • Industrial
      • Others
    • Geography
      • APAC
        • China
        • India
        • Japan
      • Europe
        • Germany
      • North America
        • US
      • South America
        • Middle East and Africa

        By Application Insights

        • The automotive segment is estimated to witness significant growth during the forecast period.

        A torque converter is a vital component in continuous variable transmission (CVT) and hydraulic automatic transmission vehicles. It facilitates power transmission from the engine to the transmission, allowing the engine to rotate independently when the vehicle is idling. At low engine speeds, such as when a vehicle is stationary at a traffic light, the torque transmitted to the transmission is minimal, requiring only light pressure on the brake pedal. However, when the driver accelerates, the engine revs up and pumps more fluid into the torque converter, resulting in increased torque transmission to the wheels. The torque converter comprises an impeller, turbine, stator, clutch, converter housing, lock-up clutch, and fluid.

        It functions by circulating transmission fluid, which absorbs torque and transmits it to the transmission shaft. The torque converter enhances vehicle fuel efficiency by controlling torque transmission during the acceleration and coupling phases, minimizing slippage and overheating. Elastomer seals prevent fluid leakage, while the clutch ensures smooth torque multiplication. The torque converter's efficiency is measured by the system's overall efficiency during idle and transmission oil circulation.

        Torque Converter Market Size

        Get a glance at the  Torque Converter Industry report of share of various segments Request Free Sample

        The Automotive segment was valued at USD 5.19 billion in 2018 and showed a gradual increase during the forecast period.

        Regional Analysis

        • Europe is estimated to contribute 37% to the growth of the global market during the forecast period.

        Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

        Torque Converter Market Share by Geography

        For more insights on the market share of various regions, Request Free Sample

        The market is experiencing significant growth In the Asia Pacific region, driven by the increasing demand for passenger vehicles in developing economies, such as China, India, and South Korea. Factors contributing to this growth include rising disposable income, industrialization, and the launch of new car models. In these countries, the perception of owning a car as a symbol of social status is a major driver, despite challenges such as traffic congestion, government regulations, and air pollution. The torque converter, a key component of automatic transmissions, facilitates power transmission from the engine to the transmission input shaft. It consists of an impeller, turbine, stator, clutch, and converter housing.

        During the acceleration phase, the impeller rotates at a higher speed than the turbine, causing fluid to be forced through the torque converter. In the coupling phase, the clutch engages, allowing the turbine to rotate at the same speed as the impeller, resulting in torque multiplication. The market is also influenced by factors such as vehicle fuel efficiency, system efficiency, and transmission fluid circulation. However, challenges such as stall, slippage, overheating, elastomer seals, fluid leak, and clutch seizure can impact market growth. The torque converter plays a crucial role in power transmission, enabling vehicles to move smoothly and efficiently.

        Market Dynamics

        Our  researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

        What are the key market drivers leading to the rise In the adoption of Torque Converter Industry?

        Globalization of auto industry to increase demand for automatic transmission vehicles in APAC is the key driver of the market.

      • The market In the automotive industry experiences significant growth due to the increasing production and sales of cars in Asia Pacific (APAC). This region is recognized as the fastest-growing and largest automotive market globally, attracting Original Equipment Manufacturers (OEMs) from around the world to expand their operations. The economies of Asian countries have been instrumental in fostering the automotive industry through tax and fiscal incentives. Torque converters are essential components of automatic transmissions, transmitting power from the engine to the transmission shaft. They consist of an impeller, turbine, stator, and clutch, which facilitate fluid circulation and torque multiplication. During the acceleration phase, the impeller absorbs the potential energy of the engine's crankshaft and converts it into kinetic energy, which moves the objects In the converter housing.
      • In the coupling phase, the turbine rotates, driving the transmission shaft and propelling the vehicle forward. The market's growth is driven by factors such as the increasing demand for vehicle fuel efficiency, the implementation of lock-up clutches, and the use of fluid couplings. However, challenges such as slippage, overheating, elastomer seals, fluid leak, clutch seizure, and power loss due to friction can affect system efficiency. To mitigate these issues, manufacturers focus on improving torque control, fluid circulation, and turbine design. In conclusion, the market is a crucial component of the automotive industry, enabling efficient power transmission from the engine to the transmission shaft.
      • The market's growth is fueled by the expanding automotive industry in APAC and the increasing demand for automatic transmissions. Manufacturers focus on enhancing torque control, fluid circulation, and turbine design to address challenges and improve system efficiency.

        • What are the market trends shaping the Torque Converter Industry?

        Increasing technological advancements in torque converters is the upcoming market trend.

      • Torque converters are essential components in automatic transmissions, transmitting power from an engine to the driven wheels of cars. They convert rotating mechanical power from the engine's crankshaft to the transmission input shaft through a fluid coupling. The torque converter consists of an impeller, turbine, and stator, which work together to transmit torque and absorb torque during the acceleration and idle phases. Advanced manufacturing processes, such as automated manufacturing, are being employed to reduce the size and weight of torque converters while increasing their efficiency. The torque converter clutch plays a crucial role in locking the engine shaft and drive shaft together when a vehicle reaches a certain speed, enabling the turbine and impeller to rotate as a single unit.
      • This lockup process is facilitated by a solenoid that operates through a valve, allowing the transmission fluid to push the torque converter against the transmission housing. During the lockup phase, the torque converter rotates as a single unit, transmitting torque to the wheels. However, during the acceleration phase, the torque converter slippage and overheating can occur due to the friction clutch. To mitigate these issues, elastomer seals and fluid circulation systems are used to prevent fluid leakage and clutch seizure. The system's efficiency is also affected by factors such as stall torque, torque multiplication, and centrifugal force. In conclusion, the market is witnessing significant advancements, with manufacturers focusing on optimizing these components for improved vehicle fuel efficiency.
      • The reduction in size and weight, a greater lockup range, and advanced manufacturing processes are some of the key trends in this market. Despite the challenges posed by slippage, overheating, and fluid leakage, the torque converter continues to be an essential component in automatic transmissions.

        • What challenges does the Torque Converter Industry face during its growth?

        High replacement and repair costs is a key challenge affecting the industry growth.

      • Torque converters are essential components in automatic transmissions, transmitting power from the engine to the transmission shaft. During the acceleration phase, the impeller, which is part of the torque converter, absorbs potential energy from the crankshaft and converts it into kinetic energy. In the coupling phase, the turbine, another part of the torque converter, rotates and drives the transmission input shaft. The torque is multiplied through the stator and clutch, reducing slippage and ensuring efficient power transmission. The market encompasses various components, including the converter housing, impeller, turbine, stator, clutch, and fluid coupling. These components are vital in ensuring vehicle fuel efficiency and maintaining system efficiency during idle and acceleration.
      • However, torque converter malfunctions, such as stall, overheating, fluid leak, and clutch seizure, can lead to costly repairs and replacements. Torque converter repairs and replacements involve extensive labor and component costs. Depending on the vehicle design, either the engine or transmission (or both) must be removed for access to the torque converter. The cost of these repairs varies, with rear-wheel-drive automatic transmission vehicles typically having lower repair costs due to easier access to the torque converter. The market's growth is driven by the increasing demand for automatic transmissions in vehicles. The market's dynamics include factors such as torque multiplication, fluid circulation, turbines, measurement, and torque transmitted.
      • Engineering calculations and mechanics play a significant role in designing and manufacturing efficient torque converters. In summary, the market caters to the production and sale of components that transmit power from the engine to the transmission in automatic vehicles. The market's growth is driven by the increasing demand for automatic transmissions, and its dynamics include torque multiplication, fluid circulation, and turbines. However, the high cost of repairs and replacements poses a challenge to market growth.

        • Exclusive Customer Landscape

        The torque converter market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the torque converter market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

        Torque Converter Market Share by Geography

         Customer Landscape

        Key Companies & Market Insights

        Companies are implementing various strategies, such as strategic alliances, torque converter market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.

        ACC Performance Products Plus Inc. - The company provides an extensive selection of torque converters, encompassing innovative designs such as the eAxle Offset Design (150kW) and 1-motor hybrid transmission, as well as high torque capacity RWD multi-stage hybrid transmissions and high torque capacity RWD 10-speed automatic transmissions. Additionally, the product range includes a direct shift continuously variable transmission. These advanced torque converter solutions cater to diverse applications and industries.

        The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

        • ACC Performance Products Plus Inc.
        • AISIN CORP.
        • BorgWarner Inc.
        • Continental AG
        • Dynamic Manufacturing Inc.
        • EXEDY Corp.
        • Ford Motor Co.
        • Honda Motor Co. Ltd.
        • Hyundai Motor Co.
        • Isuzu Motors Ltd.
        • Porsche Automobil Holding SE
        • Precision Industries
        • Renault SAS
        • Schaeffler AG
        • Sonnax Transmission Co. Inc.
        • SUBARU Corp.
        • Transtar Industries Inc.
        • Valeo SA
        • Voith GmbH and Co. KGaA
        • ZEPPELIN GmbH

        Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

        Research Analyst Overview

        Torque converters are essential components In the powertrain system of automatic transmissions in various types of vehicles. These devices transmit power from the engine to the transmission, facilitating smooth acceleration and vehicle movement. The torque converter functions as a fluid coupling, utilizing the principles of fluid mechanics and rotating driven loads to transmit torque. The torque converter comprises several parts, including an impeller, turbine, stator, clutch, and converter housing. The impeller, located at the engine end of the converter, rotates when the engine is running, drawing in transmission fluid. This fluid then passes through the turbine, which is connected to the output shaft of the converter.

        The stator, a stationary component, is located between the impeller and turbine and acts as a barrier, directing the fluid flow to the turbine blades. The clutch in a torque converter is a friction clutch that engages and disengages the impeller and turbine during different phases of vehicle operation. In the acceleration phase, the clutch slips, allowing the impeller to rotate faster than the turbine, increasing torque multiplication. During the coupling phase, the clutch locks up, allowing the impeller and turbine to rotate at the same speed, improving system efficiency. Torque converters play a crucial role in vehicle performance and fuel efficiency.

        However, they can experience issues such as slippage, overheating, elastomer seal failure, fluid leak, and clutch seizure. Slippage occurs when the clutch fails to engage properly, resulting in power loss and reduced vehicle performance. Overheating can damage the torque converter and other components, leading to costly repairs. Elastomer seal failure can cause fluid leakage, while clutch seizure can prevent the clutch from disengaging, affecting vehicle movement. To maintain optimal torque converter performance, regular maintenance is essential. This includes checking the transmission fluid level, inspecting the elastomer seals, and monitoring the converter housing for signs of damage. Additionally, proper fluid circulation and cooling are crucial to prevent overheating.

        Torque converters have undergone significant advancements in engineering and fluid mechanics, leading to improvements in system efficiency, power output, and vehicle fuel efficiency. The use of tilting blades, centrifugal pumps, and advanced materials has enhanced torque converter performance and durability. In conclusion, torque converters are vital components In the powertrain system of automatic transmissions, facilitating smooth power transmission from the engine to the transmission. Their functionality relies on the principles of fluid mechanics and rotating driven loads, with various components working in harmony to ensure efficient power transfer. Regular maintenance and proper usage are essential to maintain optimal torque converter performance and prevent potential issues.

        Continuous advancements in engineering and fluid mechanics continue to improve torque converter performance and contribute to vehicle innovation.

        Market Scope

        Report Coverage

        Details

        Page number

        141

        Base year

        2023

        Historic period

        		 2018-2022

        Forecast period

        2024-2028

        Growth momentum & CAGR

        Accelerate at a CAGR of 6.8%

        Market growth 2024-2028

        USD 3971 million

        Market structure

        Fragmented

        YoY growth 2023-2024(%)

        5.9

        Key countries

        China, US, Germany, Japan, and India

        Competitive landscape

        Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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        What are the Key Data Covered in this Torque Converter Market Research and Growth Report?

        • CAGR of the Torque Converter industry during the forecast period
        • Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
        • Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
        • Accurate predictions about upcoming growth and trends and changes in consumer behaviour
        • Growth of the market across APAC, Europe, North America, South America, and Middle East and Africa
        • Thorough analysis of the market’s competitive landscape and detailed information about companies
        • Comprehensive analysis of factors that will challenge the torque converter market growth of industry companies

        We can help! Our analysts can customize this torque converter market research report to meet your requirements.

        Get in touch

         

        1 Executive Summary

        • 1.1 Market overview
          • Executive Summary - Chart on Market Overview
          • Executive Summary - Data Table on Market Overview
          • Executive Summary - Chart on Global Market Characteristics
          • Executive Summary - Chart on Market by Geography
          • Executive Summary - Chart on Market Segmentation by Application
          • Executive Summary - Chart on Incremental Growth
          • Executive Summary - Data Table on Incremental Growth
          • Executive Summary - Chart on Company Market Positioning

        2 Market Landscape

        • 2.1 Market ecosystem
          • Parent Market
          • Data Table on - Parent Market
        • 2.2 Market characteristics
          • Market characteristics analysis
        • 2.3 Value chain analysis
          • Value Chain Analysis

        3 Market Sizing

        • 3.1 Market definition
          • Offerings of companies included in the market definition
        • 3.2 Market segment analysis
          • Market segments
        • 3.3 Market size 2023
          • 3.4 Market outlook: Forecast for 2023-2028
            • Chart on Global - Market size and forecast 2023-2028 ($ million)
            • Data Table on Global - Market size and forecast 2023-2028 ($ million)
            • Chart on Global Market: Year-over-year growth 2023-2028 (%)
            • Data Table on Global Market: Year-over-year growth 2023-2028 (%)

          4 Historic Market Size

          • 4.1 Global Torque Converter Market 2018 - 2022
            • Historic Market Size - Data Table on Global Torque Converter Market 2018 - 2022 ($ million)
          • 4.2 Application segment analysis 2018 - 2022
            • Historic Market Size - Application Segment 2018 - 2022 ($ million)
          • 4.3 Geography segment analysis 2018 - 2022
            • Historic Market Size - Geography Segment 2018 - 2022 ($ million)
          • 4.4 Country segment analysis 2018 - 2022
            • Historic Market Size - Country Segment 2018 - 2022 ($ million)

          5 Five Forces Analysis

          • 5.1 Five forces summary
            • Five forces analysis - Comparison between 2023 and 2028
          • 5.2 Bargaining power of buyers
            • Bargaining power of buyers - Impact of key factors 2023 and 2028
          • 5.3 Bargaining power of suppliers
            • Bargaining power of suppliers - Impact of key factors in 2023 and 2028
          • 5.4 Threat of new entrants
            • Threat of new entrants - Impact of key factors in 2023 and 2028
          • 5.5 Threat of substitutes
            • Threat of substitutes - Impact of key factors in 2023 and 2028
          • 5.6 Threat of rivalry
            • Threat of rivalry - Impact of key factors in 2023 and 2028
          • 5.7 Market condition
            • Chart on Market condition - Five forces 2023 and 2028

          6 Market Segmentation by Application

          • 6.1 Market segments
            • Chart on Application - Market share 2023-2028 (%)
            • Data Table on Application - Market share 2023-2028 (%)
          • 6.2 Comparison by Application
            • Chart on Comparison by Application
            • Data Table on Comparison by Application
          • 6.3 Automotive - Market size and forecast 2023-2028
            • Chart on Automotive - Market size and forecast 2023-2028 ($ million)
            • Data Table on Automotive - Market size and forecast 2023-2028 ($ million)
            • Chart on Automotive - Year-over-year growth 2023-2028 (%)
            • Data Table on Automotive - Year-over-year growth 2023-2028 (%)
          • 6.4 Industrial - Market size and forecast 2023-2028
            • Chart on Industrial - Market size and forecast 2023-2028 ($ million)
            • Data Table on Industrial - Market size and forecast 2023-2028 ($ million)
            • Chart on Industrial - Year-over-year growth 2023-2028 (%)
            • Data Table on Industrial - Year-over-year growth 2023-2028 (%)
          • 6.5 Others - Market size and forecast 2023-2028
            • Chart on Others - Market size and forecast 2023-2028 ($ million)
            • Data Table on Others - Market size and forecast 2023-2028 ($ million)
            • Chart on Others - Year-over-year growth 2023-2028 (%)
            • Data Table on Others - Year-over-year growth 2023-2028 (%)
          • 6.6 Market opportunity by Application
            • Market opportunity by Application ($ million)
            • Data Table on Market opportunity by Application ($ million)

          7 Customer Landscape

          • 7.1 Customer landscape overview
            • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

          8 Geographic Landscape

          • 8.1 Geographic segmentation
            • Chart on Market share by geography 2023-2028 (%)
            • Data Table on Market share by geography 2023-2028 (%)
          • 8.2 Geographic comparison
            • Chart on Geographic comparison
            • Data Table on Geographic comparison
          • 8.3 APAC - Market size and forecast 2023-2028
            • Chart on APAC - Market size and forecast 2023-2028 ($ million)
            • Data Table on APAC - Market size and forecast 2023-2028 ($ million)
            • Chart on APAC - Year-over-year growth 2023-2028 (%)
            • Data Table on APAC - Year-over-year growth 2023-2028 (%)
          • 8.4 Europe - Market size and forecast 2023-2028
            • Chart on Europe - Market size and forecast 2023-2028 ($ million)
            • Data Table on Europe - Market size and forecast 2023-2028 ($ million)
            • Chart on Europe - Year-over-year growth 2023-2028 (%)
            • Data Table on Europe - Year-over-year growth 2023-2028 (%)
          • 8.5 North America - Market size and forecast 2023-2028
            • Chart on North America - Market size and forecast 2023-2028 ($ million)
            • Data Table on North America - Market size and forecast 2023-2028 ($ million)
            • Chart on North America - Year-over-year growth 2023-2028 (%)
            • Data Table on North America - Year-over-year growth 2023-2028 (%)
          • 8.6 South America - Market size and forecast 2023-2028
            • Chart on South America - Market size and forecast 2023-2028 ($ million)
            • Data Table on South America - Market size and forecast 2023-2028 ($ million)
            • Chart on South America - Year-over-year growth 2023-2028 (%)
            • Data Table on South America - Year-over-year growth 2023-2028 (%)
          • 8.7 Middle East and Africa - Market size and forecast 2023-2028
            • Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
            • Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
            • Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
            • Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
          • 8.8 China - Market size and forecast 2023-2028
            • Chart on China - Market size and forecast 2023-2028 ($ million)
            • Data Table on China - Market size and forecast 2023-2028 ($ million)
            • Chart on China - Year-over-year growth 2023-2028 (%)
            • Data Table on China - Year-over-year growth 2023-2028 (%)
          • 8.9 US - Market size and forecast 2023-2028
            • Chart on US - Market size and forecast 2023-2028 ($ million)
            • Data Table on US - Market size and forecast 2023-2028 ($ million)
            • Chart on US - Year-over-year growth 2023-2028 (%)
            • Data Table on US - Year-over-year growth 2023-2028 (%)
          • 8.10 Germany - Market size and forecast 2023-2028
            • Chart on Germany - Market size and forecast 2023-2028 ($ million)
            • Data Table on Germany - Market size and forecast 2023-2028 ($ million)
            • Chart on Germany - Year-over-year growth 2023-2028 (%)
            • Data Table on Germany - Year-over-year growth 2023-2028 (%)
          • 8.11 Japan - Market size and forecast 2023-2028
            • Chart on Japan - Market size and forecast 2023-2028 ($ million)
            • Data Table on Japan - Market size and forecast 2023-2028 ($ million)
            • Chart on Japan - Year-over-year growth 2023-2028 (%)
            • Data Table on Japan - Year-over-year growth 2023-2028 (%)
          • 8.12 India - Market size and forecast 2023-2028
            • Chart on India - Market size and forecast 2023-2028 ($ million)
            • Data Table on India - Market size and forecast 2023-2028 ($ million)
            • Chart on India - Year-over-year growth 2023-2028 (%)
            • Data Table on India - Year-over-year growth 2023-2028 (%)
          • 8.13 Market opportunity by geography
            • Market opportunity by geography ($ million)
            • Data Tables on Market opportunity by geography ($ million)

          9 Drivers, Challenges, and Opportunity/Restraints

          • 9.1 Market drivers
            • 9.2 Market challenges
              • 9.3 Impact of drivers and challenges
                • Impact of drivers and challenges in 2023 and 2028
              • 9.4 Market opportunities/restraints

                10 Competitive Landscape

                • 10.1 Overview
                  • 10.2 Competitive Landscape
                    • Overview on criticality of inputs and factors of differentiation
                  • 10.3 Landscape disruption
                    • Overview on factors of disruption
                  • 10.4 Industry risks
                    • Impact of key risks on business

                  11 Competitive Analysis

                  • 11.1 Companies profiled
                    • Companies covered
                  • 11.2 Market positioning of companies
                    • Matrix on companies position and classification
                  • 11.3 AISIN CORP.
                    • AISIN CORP. - Overview
                    • AISIN CORP. - Business segments
                    • AISIN CORP. - Key news
                    • AISIN CORP. - Key offerings
                    • AISIN CORP. - Segment focus
                  • 11.4 BorgWarner Inc.
                    • BorgWarner Inc. - Overview
                    • BorgWarner Inc. - Business segments
                    • BorgWarner Inc. - Key news
                    • BorgWarner Inc. - Key offerings
                    • BorgWarner Inc. - Segment focus
                  • 11.5 Continental AG
                    • Continental AG - Overview
                    • Continental AG - Business segments
                    • Continental AG - Key news
                    • Continental AG - Key offerings
                    • Continental AG - Segment focus
                  • 11.6 EXEDY Corp.
                    • EXEDY Corp. - Overview
                    • EXEDY Corp. - Business segments
                    • EXEDY Corp. - Key news
                    • EXEDY Corp. - Key offerings
                    • EXEDY Corp. - Segment focus
                  • 11.7 Isuzu Motors Ltd.
                    • Isuzu Motors Ltd. - Overview
                    • Isuzu Motors Ltd. - Product / Service
                    • Isuzu Motors Ltd. - Key news
                    • Isuzu Motors Ltd. - Key offerings
                  • 11.8 Precision Industries
                    • Precision Industries - Overview
                    • Precision Industries - Product / Service
                    • Precision Industries - Key offerings
                  • 11.9 Renault SAS
                    • Renault SAS - Overview
                    • Renault SAS - Product / Service
                    • Renault SAS - Key news
                    • Renault SAS - Key offerings
                  • 11.10 Schaeffler AG
                    • Schaeffler AG - Overview
                    • Schaeffler AG - Business segments
                    • Schaeffler AG - Key news
                    • Schaeffler AG - Key offerings
                    • Schaeffler AG - Segment focus
                  • 11.11 Valeo SA
                    • Valeo SA - Overview
                    • Valeo SA - Business segments
                    • Valeo SA - Key news
                    • Valeo SA - Key offerings
                    • Valeo SA - Segment focus
                  • 11.12 ZEPPELIN GmbH
                    • ZEPPELIN GmbH - Overview
                    • ZEPPELIN GmbH - Product / Service
                    • ZEPPELIN GmbH - Key offerings

                  12 Appendix

                  • 12.1 Scope of the report
                    • 12.2 Inclusions and exclusions checklist
                      • Inclusions checklist
                      • Exclusions checklist
                    • 12.3 Currency conversion rates for US$
                      • Currency conversion rates for US$
                    • 12.4 Research methodology
                      • Research methodology
                    • 12.5 Data procurement
                      • Information sources
                    • 12.6 Data validation
                      • Data validation
                    • 12.7 Validation techniques employed for market sizing
                      • Validation techniques employed for market sizing
                    • 12.8 Data synthesis
                      • Data synthesis
                    • 12.9 360 degree market analysis
                      • 360 degree market analysis
                    • 12.10 List of abbreviations
                      • List of abbreviations

                    Research Methodology

                    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                    INFORMATION SOURCES

                    Primary sources

                    • Manufacturers and suppliers
                    • Channel partners
                    • Industry experts
                    • Strategic decision makers

                    Secondary sources

                    • Industry journals and periodicals
                    • Government data
                    • Financial reports of key industry players
                    • Historical data
                    • Press releases

                    DATA ANALYSIS

                    Data Synthesis

                    • Collation of data
                    • Estimation of key figures
                    • Analysis of derived insights

                    Data Validation

                    • Triangulation with data models
                    • Reference against proprietary databases
                    • Corroboration with industry experts

                    REPORT WRITING

                    Qualitative

                    • Market drivers
                    • Market challenges
                    • Market trends
                    • Five forces analysis

                    Quantitative

                    • Market size and forecast
                    • Market segmentation
                    • Geographical insights
                    • Competitive landscape

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                    Frequently Asked Questions

                    Torque Converter market growth will increase by $ 3971 mn during 2024-2028 .

                    The Torque Converter market is expected to grow at a CAGR of 6.8% during 2024-2028 .

                    Torque Converter market is segmented by Application( Automotive, Industrial, Others)

                    ACC Performance Products Plus Inc., AISIN CORP., BorgWarner Inc., Continental AG, Dynamic Manufacturing Inc., EXEDY Corp., Ford Motor Co., Honda Motor Co. Ltd., Hyundai Motor Co., Isuzu Motors Ltd., Porsche Automobil Holding SE, Precision Industries, Renault SAS, Schaeffler AG, Sonnax Transmission Co. Inc., SUBARU Corp., Transtar Industries Inc., Valeo SA, Voith GmbH and Co. KGaA, ZEPPELIN GmbH are a few of the key vendors in the Torque Converter market.

                    Europe will register the highest growth rate of 37% among the other regions. Therefore, the Torque Converter market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.

                    China, US, Germany, Japan, India

                    • Globalization of auto industry to increase demand for automatic transmission vehicles in APACThe globalization of the auto industry had a huge impact on APAC. OEMs across the globe are focusing on the potential markets and are expanding their operations to the potential markets. APAC is considered and recognized as the fastest-growing auto industry is the driving factor this market.
                    • attracting OEMs from across the globe to expand their operations and set up plants in the countries such as China is the driving factor this market.
                    • India is the driving factor this market.
                    • Japan is the driving factor this market.
                    • and many other Asian countries. Owing to the vibrant economic situation of the countries in this region is the driving factor this market.
                    • APAC is one of the fastest growing and largest automotive markets globally.Governments of Asian countries have played a critical role in encouraging the automotive industry in the form of tax and fiscal incentives. For instance is the driving factor this market.
                    • the Thai government is the driving factor this market.
                    • to encourage the automotive components industry is the driving factor this market.
                    • has granted exemption on import duties and an eight-year tax exemption for 11 categories of vehicle components that include tires is the driving factor this market.
                    • liquid natural gas (LNG) cylinders is the driving factor this market.
                    • engine components is the driving factor this market.
                    • and powertrain components.APAC has become a prime offshore location for automotive manufacturing due to its government incentives and cost and raw material advantages. Asian countries such as Indonesia is the driving factor this market.
                    • China is the driving factor this market.
                    • Thailand is the driving factor this market.
                    • India is the driving factor this market.
                    • South Korea is the driving factor this market.
                    • and Vietnam are the major producers of raw materials such as rubber and bullion materials is the driving factor this market.
                    • with a well-established supply chain network. Additionally is the driving factor this market.
                    • this region is considered one of the largest pools of experienced talent for the automotive industry. The major advantage is the low cost of labor in these countries compared with developed countries such as Europe and the US.Countries such as China is the driving factor this market.
                    • India is the driving factor this market.
                    • and Japan have well-established auto value chains is the driving factor this market.
                    • with the presence of numerous component suppliers. Such countries also have cost-effective operational structures is the driving factor this market.
                    • which increases the profit margins for OEMs. The large volume demand is also one of the factors that aid in increasing profit margins and low-cost manufacturing. Due to these advantages is the driving factor this market.
                    • OEMs are incorporating advanced technologies is the driving factor this market.
                    • including CVTs and torque converters is the driving factor this market.
                    • into their vehicles. Thus is the driving factor this market.
                    • the globalization of the auto industry in APAC is expected to increase the demand for automatic transmission vehicles is the driving factor this market.
                    • which is the driving factor this market.
                    • in turn is the driving factor this market.
                    • will fuel the growth of the global torque converter market during the forecast period. is the driving factor this market.

                    The Torque Converter market vendors should focus on grabbing business opportunities from the Automotive segment as it accounted for the largest market share in the base year.