Research Expert: Sarah Overall
  • Published: Nov 2024
  • Pages: 150
  • SKU: IRTNTR71870

  • globalization of auto industry to increase demand for automatic transmission vehicles in apac is driving the Torque Converter Market

    Latest News:- Torque Converter Market: Automotive is expected to lead the Application segment during 2024-2028

    Technavio analyzes that the Torque Converter Market is expected to grow at a CAGR of 6.8% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3971 million.There are various factors that contribute to the growth of the market. The globalization of the automotive industry has significantly increased the demand for automatic transmission vehicles in the Asia-Pacific region. This trend is driven by the growing middle class population and urbanization, leading to an increased preference for convenience and comfort in personal transportation. The torque converter market in APAC is poised to grow as automatic transmissions become increasingly popular, with countries like China and India expected to lead the way due to their large markets and rapid industrialization.

    In the automotive industry, the torque converter is a vital component for Continuous Variable Transmission (CVT) and hydraulic automatic transmission vehicles. This device enables the engine to rotate independently from the transmission, allowing for improved vehicle fuel efficiency during idle conditions. During the stall and acceleration phases, the torque converter utilizes a lock-up clutch and friction clutch, respectively, to maximize torque multiplication and minimize slippage. In the coupling phase, the torque converter transmits power from the engine to the transmission, enhancing vehicle acceleration. The converter housing houses these essential components, ensuring efficient and reliable performance. 

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    Torque Converter Market Segmentation

    • Application
      • Automotive
      • Industrial
      • Others
    • Geography
      • APAC
      • Europe
      • North America
      • South America
      • Middle East and Africa

    Top Performing Companies

    As per our research findings, here are some of the key competitors that are leading the industry

    • 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

    Find out what is trending in the market by accessing the free PDF report

    Research Analysis Overview

    The Torque Converter, a key component in automatic transmissions for cars, converts potential energy from the engine's crankshaft into kinetic energy for the transmission shaft during the acceleration phase. It functions as a fluid coupling, with an impeller, turbine, and stator, transmitting power from the engine to the transmission. The converter housing contains the impeller and turbine, which rotate due to the pressure of the transmission fluid. The lock-up clutch engages during the coupling phase to improve vehicle fuel efficiency by eliminating power loss. The fluid coupling's tilted blades facilitate smooth transitions between engine RPMs during stall and normal operation.

    Market Research Overview

    The global automotive components and equipment market encompasses businesses producing parts and accessories for various vehicle categories, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, the market size is determined by the consolidated revenue generated by automotive components and equipment manufacturers. Key growth drivers in this sector include the escalating demand for electronic components in automobiles, such as electronic control units (ECUs) and other electrical components, fueled by the rising sales of EVs, motorcycles, and PCs over the past decade.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

    Reasons to Consider Purchasing Technavio Market Research Report

    • Current Market Insights: Our reports offer valuable information on the latest market intelligence, competitor strategies, trends, industry changes, customer preferences, and forecasted market opportunities to aid in informed business decisions.

    • Extensive Experience: With over 20 years in market research, Technavio is a trusted name, having published more than 21,000 reports across various industries and regions.

    • High ROI Through In-Depth Research: Technavio specializes in tailored market research reports to meet specific business needs, exploring particular markets, product segments, and demographics. We are also recognized for delivering significant returns on investment through our comprehensive data collection at affordable prices.

    Contacts

    Technavio Research
    Jesse Maida
    Media & Marketing Executive
    US: +1 844 364 1100
    UK: +44 203 893 3200
    Email: media@technavio.com
    Website: www.technavio.com/

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