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In 2023, the torque converter market was estimated to be worth 2.28 billion USD. With a predicted CAGR (compound annual growth rate) of 7.78% from 2024 to 2031, the torque converter market is expected to expand from 2.99 billion USD in 2024 to 4.69 billion USD by 2031. Key industry drivers boosting market expansion include the advancement of torque converters in power train mechanisms and the rising demand for luxury and passenger automobiles in developed countries.
Thanks to important factors in the automobile sector, the worldwide torque converter market is booming. One major factor driving the market's expansion is the rising demand for automated transmissions, particularly in passenger automobiles. One factor driving torque converter demand is the increasing production of electric and hybrid motors. The development of more efficient lock-up torque converters and other technological advances in torque converters are also having an impact on the dynamics of the market.
The replacement of older torque converters is driving growth in the aftermarket area. The strong car industry in countries like India and China makes the Asia-Pacific region a leading market. These findings highlight a market that is always adapting to new automobile innovations and buyer opportunities.
In order to decrease the mechanical effort required to move the car, torque converters are devices that connect the engine to the transmission. This allows the engine to rotate separately from the transmission. Automatically reaching varied speeds is another benefit. A torque converter primarily consists of a stator, a turbine, and a transmission fluid pump. Because it eliminates the noise and delay associated with manual gear changes, the torque converter helps conserve fuel.
Automatic transmissions, torque converters, and dual-clutch systems are all products of the rising demand for passenger and luxury automobiles in industrialized nations. In addition to easing the strain of a jammed stop, the sophisticated torque converter systems are helpful for everyday driving. The consequent need for increasingly sophisticated automotive systems is driving growth in the worldwide torque converter market.
The increasing use of torque converters in power train mechanisms is another key element propelling the expansion of the worldwide torque converter market. During the forecast period, the power train—which includes the transmission and supplies electricity to the engines—is anticipated to contribute to the expansion of the market. Demand for automobiles with more advanced technologies, including those that enhance comfort, convenience, and luxury, is predicted to drive expansion.
Demand for passenger cars and luxury vehicles in industrialized regions of the world is driving the deployment of torque converters, automatic transmission systems, and dual clutches in vehicle production. This, in turn, is driving the torque converter market CAGR. The use of these cutting-edge devices makes driving a breeze and lessens the strain of dealing with congested, stop-and-go traffic. The torque converter market is experiencing strong revenue growth due to the increased demand for these innovative systems.
The demand for torque converters has also been driven up by the increasing number of automobiles equipped with automatic transmissions. A torque converter's ability to increase torque in situations when the input and output rotational velocities of the engine are significantly different is a crucial attribute. The engine and transmission can spin separately thanks to torque, a fluid coupling that employs fluid hydrodynamics. There has been significant progress in automatic torque converter technology as of late, and manufacturers are actively working to make torque converters more efficient.
Report Coverage
Global Torque Converter research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Torque Converter report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Torque Converter competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Torque Converter market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Torque Converter market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Torque Converter market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Infineon Technologies AG, NXP Semiconductors NV, Texas Instruments, Inc., Toshiba Corp., Intel Corporation, Maxim Integrated, Broadcom Inc., Qualcomm Inc., Analog Devices, Inc., Advanced Micro Devices, Microchip Technology, Inc., Monolithic Power Systems, Inc., Samsung Semiconductor, Inc., SK Hynix Inc., Mediatek Inc., Hitachi Ltd., Schurter (S) Pte, Ltd., Rewell Industrial Co. Ltd., Kyocera Electronics Devices and Watts Electronics Pvt. Ltd. among others.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Torque Converter market based on the below-mentioned segments:
Global Torque Converter Market, By Type
Fluid Coupling
Hydraulic Torque Converter
Toroidal or CVT Torque Converter
Global Torque Converter market, By Transmission Type
Continuously Variable Transmission (CVT)
Semi-Automatic
Global Torque Converter Market, By Vehicle Type
Passenger Vehicles
Commercial Vehicles
Electric Vehicles
Global Torque Converter market, Regional Analysis
Thanks to important factors in the automobile sector, the worldwide torque converter market is booming. One major factor driving the market's expansion is the rising demand for automated transmissions, particularly in passenger automobiles. One factor driving torque converter demand is the increasing production of electric and hybrid motors. The development of more efficient lock-up torque converters and other technological advances in torque converters are also having an impact on the dynamics of the market.
The replacement of older torque converters is driving growth in the aftermarket area. The strong car industry in countries like India and China makes the Asia-Pacific region a leading market. These findings highlight a market that is always adapting to new automobile innovations and buyer opportunities.
In order to decrease the mechanical effort required to move the car, torque converters are devices that connect the engine to the transmission. This allows the engine to rotate separately from the transmission. Automatically reaching varied speeds is another benefit. A torque converter primarily consists of a stator, a turbine, and a transmission fluid pump. Because it eliminates the noise and delay associated with manual gear changes, the torque converter helps conserve fuel.
Automatic transmissions, torque converters, and dual-clutch systems are all products of the rising demand for passenger and luxury automobiles in industrialized nations. In addition to easing the strain of a jammed stop, the sophisticated torque converter systems are helpful for everyday driving. The consequent need for increasingly sophisticated automotive systems is driving growth in the worldwide torque converter market.
The increasing use of torque converters in power train mechanisms is another key element propelling the expansion of the worldwide torque converter market. During the forecast period, the power train—which includes the transmission and supplies electricity to the engines—is anticipated to contribute to the expansion of the market. Demand for automobiles with more advanced technologies, including those that enhance comfort, convenience, and luxury, is predicted to drive expansion.
Demand for passenger cars and luxury vehicles in industrialized regions of the world is driving the deployment of torque converters, automatic transmission systems, and dual clutches in vehicle production. This, in turn, is driving the torque converter market CAGR. The use of these cutting-edge devices makes driving a breeze and lessens the strain of dealing with congested, stop-and-go traffic. The torque converter market is experiencing strong revenue growth due to the increased demand for these innovative systems.
The demand for torque converters has also been driven up by the increasing number of automobiles equipped with automatic transmissions. A torque converter's ability to increase torque in situations when the input and output rotational velocities of the engine are significantly different is a crucial attribute. The engine and transmission can spin separately thanks to torque, a fluid coupling that employs fluid hydrodynamics. There has been significant progress in automatic torque converter technology as of late, and manufacturers are actively working to make torque converters more efficient.
Report Coverage
Global Torque Converter research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Torque Converter report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Torque Converter competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Torque Converter market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2024 |
| Forecast Period | 2024-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Infineon Technologies AG, NXP Semiconductors NV, Texas Instruments, Inc., Toshiba Corp., Intel Corporation, Maxim Integrated, Broadcom Inc., Qualcomm Inc., Analog Devices, Inc., Advanced Micro Devices, Microchip Technology, Inc., Monolithic Power Systems, Inc., Samsung Semiconductor, Inc., SK Hynix Inc., Mediatek Inc., Hitachi Ltd., Schurter (S) Pte, Ltd., Rewell Industrial Co. Ltd., Kyocera Electronics Devices and Watts Electronics Pvt. Ltd. among others. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Torque Converter Market from 2021 to 2031.
- Market Forecast for Torque Converter Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Torque Converter competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Torque Converter
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Torque Converter market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Torque Converter market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Infineon Technologies AG, NXP Semiconductors NV, Texas Instruments, Inc., Toshiba Corp., Intel Corporation, Maxim Integrated, Broadcom Inc., Qualcomm Inc., Analog Devices, Inc., Advanced Micro Devices, Microchip Technology, Inc., Monolithic Power Systems, Inc., Samsung Semiconductor, Inc., SK Hynix Inc., Mediatek Inc., Hitachi Ltd., Schurter (S) Pte, Ltd., Rewell Industrial Co. Ltd., Kyocera Electronics Devices and Watts Electronics Pvt. Ltd. among others.
Primary Target Market
- Market Players of Torque Converter
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Torque Converter market based on the below-mentioned segments:
Global Torque Converter Market, By Type
Fluid Coupling
Hydraulic Torque Converter
Toroidal or CVT Torque Converter
Global Torque Converter market, By Transmission Type
Continuously Variable Transmission (CVT)
Semi-Automatic
Global Torque Converter Market, By Vehicle Type
Passenger Vehicles
Commercial Vehicles
Electric Vehicles
Global Torque Converter market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive torque converter market market research and competitor analysis for your business to help you develop more profound insights into the torque converter market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the torque converter market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.