Overview
One of the noticeable factor that helps in the growth of torque converter market during the forecast timeframe is the fresh advancement in powertrain device The powertrain consists of the transmission, engine and the drivetrain of a vehicle where its primary function is to run power to the vehicle. Such fresh development in powertrain mechanism has facilitated manufacturers in developing transmission systems which results into driving torque converter market. Majority of customers have a preference of luxurious and premium vehicles with automatic transmission systems fitted with torque converters for its effortless driving and reduced efforts over the jammed stop and go driving conditions. Smaller vehicles are projected to show rise in demand for torque converter market during the forecast period. Additionally, increasing use of electronic gadgets in the vehicle would further increase the growth in torque converter market globally. However, common technical issues related with torque converters may hinder the scenarios for torque converter market growth in near future. A defective torque converter indicates to the difficulties like vehicle shaking, transmission slippages and high-stall speed. Such major challenge could be faced by the torque converter market as cost related to labours for the replacements issues of torque converter is high. The torque converter market is segmented by component into clutch plate, damper, impeller, turbine, and stator. A single part of impeller, turbine, stator, and damper is used in a torque converter. The pricing of these components differs according to their size, weight, and design complexity. Heavier components require rawer material, and their pricing is projected to vary with inflation. As impellers are heavier, they require rawer material. Therefore, the impeller torque converter segment is projected to be the largest market, by value, during the forecast period. As per application side, the global automotive torque converter market can be segregated into Automatic Transmission (AT), Continuously Variable
Transmission (CVT), and Dual-Clutch Transmission (DCT). The continuously variable transmission is fuel-efficient, has poor acceleration compared with automatic transmission. Torque converters provide a superior acceleration in CVT vehicles which solves a major problem of CVT vehicles. With the growing demand for premium segment CVT vehicles in Asia Pacific, the demand for torque converters used in CVT vehicles is estimated to outpace the demand for torque converters used in AT and DCT vehicles. As a result, the continuously variable transmission (CVT) torque converter segment is estimated to be the fastest growing market, by transmission. Americas is estimated to account outstanding market share in the torque converter market as adoption of automatic transmission in medium and heavy duty truck is witnessed at higher extent in his region. Being one of the noticeable manufacturer of Automatic transmission vehicles, North America has substantial number of passenger equipped with automatic transmission systems therefore it is likely to remain important region for torque converter market during the forecast timeframe. Due to all these factors, the market is expected to witness rapid growth. 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 is one of the major market for automotive have rising 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 Automatic transmission system resulting to lean growth for torque converter market. The automotive torque converter seems to be moderately focused due to the presence of few established automotive torque converter manufacturers. The local players offer low-cost converters with minimum features and functionalities. Since the international players focus on enhancing their market reach, the local vendors are finding it difficult to compete with them especially in terms of quality, features, safety, and price. The level of competition among the automotive torque converter manufacturers will intensify in the coming years due to the rise in the adoption of advanced technologies and the introduction of stringent government regulations.
Some of the key players of global torque converter market are Schaeffler (Germany), ZF Friedrichshafen (Germany), Aisin (Japan), Valeo S.A. (France), KAPEC (South Korea), Transtar (US), EXEDY (Japan), Yutaka Giken (Japan), BorgWarner, Inc. (US), and Sonnax Industries (US).
Major players in the Market are identified through secondary research and their Market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and Marketing executives. The percentage splits, Market shares, growth rate and breakdowns of the product Markets are determined through using secondary sources and verified through the primary sources. Inquiry about report OR ask for Sample Report @ https://www.profsharemarketresearch.com/inquiry/automotive-torqueconverter-market-report-inquiry/
Global Automotive Torque Converter Market: Component Clutch Plate Damper Impeller Turbine Stator Global Automotive Torque Converter Market: Application Automatic Transmission (AT) Continuously Variable Transmission (CVT) Dual-Clutch Transmission (DCT) Global Automotive Torque Converter Market: Competitive Analysis EXEDY Schaeffler ZF Valeo Kapec Aisin AW BorgWarner Jatco Yutaka Technologies Allison Transmission Punch Aerospace Power Hi-tech Hongyu Automotive Torque Converter Market: Regional Analysis North America U.S.A Canada Europe France Germany Spain UK
Rest of Europe
Asia Pacific China Japan India South East Asia Latin America Brazil Middle East and Africa
Access Full Report @ https://www.profsharemarketresearch.com/automotive-torque-convertermarket/ Automotive Torque Converter Market Report delivers comprehensive analysis of : Market Forecast for 2019-27 Market growth drivers Challenges and Opportunities Emerging and Current market trends Market player Capacity, Production, Revenue (Value) Supply (Production), Consumption, Export, Import analysis End user/application Analysis About Profshare Profshare Market Research is a full service market research company that delivers in depth market research globally. We operate within consumer and business to business markets offering both qualitative and quantitative research services. We work for private sector clients, along with public sector and voluntary organisations. Profshare Market Research publishes high quality, in-depth market research studies, to help clients obtain granular level clarity on current business trends and expected future developments. We are committed to our client’s needs,
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