Automotive Torque Converter Market by Type (Automatic Transmission, Continuously Variable Transmission, Dual-Clutch Transmission), Vehicle Type (Passenger Vehicle, Commercial Vehicle), Electric Vehicle (BEV, Plug-In Hybrid Electric Vehicle, Hybrid Electric Vehicle) & Region for 2024-2031
Report ID: 11681|No. of Pages: 202
Automotive Torque Converter Market by Type (Automatic Transmission, Continuously Variable Transmission, Dual-Clutch Transmission), Vehicle Type (Passenger Vehicle, Commercial Vehicle), Electric Vehicle (BEV, Plug-In Hybrid Electric Vehicle, Hybrid Electric Vehicle) & Region for 2024-2031
Automotive Torque Converter Market Valuation – 2024-2031
The automotive torque converter industry is expanding due to rising demand for automatic transmission automobiles. Torque converters improve vehicle performance and fuel efficiency by allowing for the seamless transfer of power from the engine to the transmission. This market’s expansion is driven by technological advancements and increasing consumer preferences for comfort and convenience. This is likely to enable the market size surpass USD 7.93 Billion valued in 2023 to reach a valuation of around USD 11.08 Billion by 2031.
Furthermore, the market benefits from the expanding automobile industry in emerging markets. Increasing manufacturing of passenger and commercial cars, combined with tight pollution rules requiring efficient powertrains, drives demand for torque converters. Key players are focused on innovation and strategic alliances to develop enhanced goods, which is driving market growth. The rising demand for automotive torque converter is enabling the market grow at a CAGR of 4.28% from 2024 to 2031.
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Automotive Torque Converter Market: Definition/ Overview
An automotive torque converter is a fluid coupling device that sits between the engine and the transmission in automatic vehicles. It distributes rotating power from the engine to the transmission, allowing for smooth acceleration by doubling torque, as well as running the engine while the vehicle is stationary.
These type of converters transfer engine power to the transmission, allowing for smooth acceleration, increase in engine torque and the ability for automobiles to start and stop without stalling. They increase fuel efficiency and allow seamless gear shifting, which is essential in automatic transmission systems.
Automotive torque converters will be used in the future to improve fuel efficiency, enhance vehicle performance, support electric vehicle (EV) integration, enable smoother power transmission in hybrid systems, and advance autonomous driving technology by providing reliable and adaptive power management solutions.
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Will Rising Demand for Fuel Efficiency Increase Sales of the Automotive Torque Converter?
The growing demand for fuel efficiency is a major driver of the automotive torque converter market. As worldwide laws tighten and consumer preferences shift toward more fuel-efficient vehicles, automakers are increasingly turning to innovative transmission technologies, such as torque converters, to meet these objectives. According to a variety of sources, including the United States Environmental Protection Agency (EPA) and the United States Department of Energy, advanced torque converters can improve fuel efficiency by 4-8% when compared to regular transmissions. This change is confirmed by data indicating a significant increase in the global deployment of modern transmission technology such as lock-up torque converters, which improve efficiency.
Furthermore, regulatory authorities such as the U.S. National Highway Traffic Safety Administration (NHTSA) and industry publications from businesses such as ZF Friedrichshafen AG emphasize the importance of torque converters in meeting tight fuel economy criteria and lowering CO2 emissions. The European market is also seeing significant reductions in CO2 emissions from passenger automobiles as a result of the adoption of more efficient powertrain technologies, highlighting the role of torque converters in meeting environmental goals. Overall, the trend toward fuel efficiency is expected to increase demand for sophisticated torque converters, establishing them as critical components in the automotive industry’s quest for sustainability and efficiency.
Will High Replacement and Repair Costs Restrain the Automotive Torque Converter Market?
High replacement and repair costs for vehicle torque converters can limit market expansion. Torque converters are complex components that must be manufactured with precision, which results in expensive replacement and repair costs. This financial burden may dissuade vehicle owners and fleet operators from purchasing vehicles equipped with modern torque converters, particularly in price-sensitive markets.
Furthermore, the labor-intensive procedure of replacing or repairing torque converters drives up the overall cost. As a result, customers may favor automobiles with simpler, less expensive transmission systems or postpone maintenance, thereby affecting market demand for torque converters. Despite their benefits in improving fuel efficiency and vehicle performance, the high expenses associated with maintaining torque converters may limit their widespread use and slow market expansion in certain segments.
Category-Wise Acumens
Will Increasing Demand for Seamless Gear Shifts and Ease of Use Drive the Type Segment?
The growing need for seamless gear shifts and convenience of use is likely to boost the expansion of the automatic transmission sector within the torque converter market. Automatic gearboxes are popular because they give smooth, effortless driving experiences, which appeals to a wide spectrum of users, including those in metropolitan areas and commercial fleets. This choice is especially prominent in North America and Asia-Pacific, where automatic transmissions meet consumer expectations and driving conditions.
Furthermore, advances in technology are improving the efficiency and performance of automatic gearboxes, making them more appealing. As a result, the increased customer demand for greater driving pleasure and operating simplicity is expected to boost the adoption of automatic gearboxes, therefore pushing the type segment’s growth.
Will Increasing Adoption of HEVs Drive the Hybrid Electric Vehicles Segment?
The growing popularity of hybrid electric vehicles (HEVs) is a major driver of growth in the automotive torque converter market. Torque converters improve fuel efficiency and performance in HEVs, which combine internal combustion engines and electric motors. As customers and automakers prioritize sustainability and fuel efficiency, HEVs provide an appealing blend of lower emissions and longer range without the need for frequent recharge. Regulatory demands and incentives for lower emissions have accelerated HEV uptake. As a result, the need for improved torque converters in HEVs is increasing, as they play an important role in improving powertrain performance and economy. This growing demand for HEVs is likely to create significant growth in the torque converter market, reinforcing the segment’s dominance.
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Country/Region Wise Acumens
Will Increasing Strong Automotive Industry Infrastructure Drive the Market in North America?
North America’s robust automotive industry infrastructure considerably drives the automotive torque converter market. North America, notably the United States, boasts a well-established automotive sector that includes advanced production facilities, a strong supply chain and top automotive OEMs. This infrastructure enables intensive research and development, promoting innovation in automotive technologies such as torque converters.
The presence of major automakers and transmission manufacturers in the region promotes the rapid adoption of modern torque converter technology, which improve vehicle performance and fuel efficiency. Furthermore, strict fuel economy rules and pollution standards in North America compel automakers to use efficient torque converters to achieve these requirements.
Furthermore, the rising demand for passenger and commercial cars, combined with consumer preference for automatic gearboxes, drives growth in the torque converter industry. This is solid automotive foundation ensures that North America remains a dominant region, driving continuous growth and technological advancements in the torque converter market.
Will Growing Demand for Fuel-Efficient Vehicles Drive the Market in Asia Pacific Region?
The automotive torque converter market in Asia Pacific is being driven primarily by a growing need for fuel-efficient vehicles. Vehicle manufacturing and sales are increasing significantly in countries such as China, India, and Japan, driven by rising middle-class incomes and urbanization. This growth is accompanied by a greater awareness of environmental issues and tough government rules aimed at lowering emissions and improving fuel economy.
Consumers in Asia-Pacific are increasingly favoring fuel-efficient vehicles, resulting in a higher adoption rate of modern transmission technologies such as torque converters. These components are critical to maximizing fuel efficiency and vehicle performance, making them necessary for modern automobiles. As a result, demand for improved torque converters is likely to increase, driving market growth in the region. This trend is further supported by investments from automotive manufacturers in developing and producing more efficient and eco-friendly vehicles to meet regulatory standards and consumer preferences.
Competitive Landscape
The automotive torque converter market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support. The organizations are focusing on innovating their product line to serve the vast population in diverse regions.
Some of the prominent players operating in the automotive torque converter market include:
Aisin Seiki Corporation, BorgWarner Inc., Continental AG, Delphi Technologies, Exedy Corporation, Isuzu Motors Ltd., Jatco Ltd, Precision Industries, Schaeffler Technologies AG & Co. Kg, Sonnax Transmission Company, Inc.
Latest Developments
- In October 2023, the upcoming launch of the Kia Sonet in India in October 2023 is a source of excitement due to its innovative features, including the first-ever torque converter diesel automatic drivetrain in the subcompact SUV segment. This transmission will produce more power than its manual counterpart.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2018-2031 |
| Growth Rate | CAGR of ~4.28% from 2024 to 2031 |
| Base Year for Valuation | 2023 |
| Historical Period | 2018-2022 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Billion |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Players | Aisin Seiki Corporation, BorgWarner Inc., Continental AG, Delphi Technologies, Exedy Corporation, Isuzu Motors Ltd., Jatco Ltd, Precision Industries, Schaeffler Technologies AG & Co. Kg, Sonnax Transmission Company, Inc. |
| Customization | Report customization along with purchase available upon request |
Automotive Torque Converter Market, By Category
Type
- Automatic Transmission
- Continuously Variable Transmission
- Dual-Clutch Transmission
Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Electric Vehicle
- BEV
- Plug-In Hybrid Electric Vehicle
- Hybrid Electric Vehicle
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our Sales Team at Verified Market Research.
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
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Frequently Asked Questions
1 INTRODUCTION OF GLOBAL AUTOMOTIVE TORQUE CONVERTER MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL AUTOMOTIVE TORQUE CONVERTER MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
5 GLOBAL AUTOMOTIVE TORQUE CONVERTER MARKET, BY TYPE
5.1 Automatic Transmission
5.2 Continuously Variable Transmission
5.3 Dual-Clutch Transmission
6 GLOBAL AUTOMOTIVE TORQUE CONVERTER MARKET, BY VEHICLE TYPE
6.1 Passenger Vehicle
6.2 Commercial Vehicle
7 GLOBAL AUTOMOTIVE TORQUE CONVERTER MARKET, BY ELECTRIC VEHICLE
7.1 BEV
7.2 Plug-In Hybrid Electric Vehicle
7.3 Hybrid Electric Vehicle
8 GLOBAL AUTOMOTIVE TORQUE CONVERTER MARKET, BY GEOGRAPHY
8.1 Overview
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 U.K.
8.3.3 France
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Rest of the World
8.5.1 Middle East and Africa
8.5.2 Latin America
9 GLOBAL AUTOMOTIVE TORQUE CONVERTER MARKET COMPETITIVE LANDSCAPE
9.1 Overview
9.2 Company Market ranking
9.3 Key Development Strategies
10 COMPANY PROFILES
10.1 Aisin Seiki
10.1.1 Overview
10.1.2 Financial Performance
10.1.3 Product Outlook
10.1.4 Key Developments
10.2 BorgWarner
10.2.1 Overview
10.2.2 Financial Performance
10.2.3 Product Outlook
10.2.4 Key Developments
10.3 Schaeffler
10.3.1 Overview
10.3.2 Financial Performance
10.3.3 Product Outlook
10.3.4 Key Developments
10.4 Valeo
10.4.1 Overview
10.4.2 Financial Performance
10.4.3 Product Outlook
10.4.4 Key Developments
10.5 Friedrichshafen
10.5.1 Overview
10.5.2 Financial Performance
10.5.3 Product Outlook
10.5.4 Key Developments
10.6 Transtar Industries Inc.
10.6.1 Overview
10.6.2 Financial Performance
10.6.3 Product Outlook
10.6.4 Key Developments
10.7 Allison Transmission Inc.
10.7.1 Overview
10.7.2 Financial Performance
10.7.3 Product Outlook
10.7.4 Key Developments
10.8 EXEDY Corporation
10.8.1 Overview
10.8.2 Financial Performance
10.8.3 Product Outlook
10.8.4 Key Developments
10.9 Yutaka Giken Co. Ltd.
10.9.1 Overview
10.9.2 Financial Performance
10.9.3 Product Outlook
10.9.4 Key Developments
10.10 Sonnax Transmission Company, Inc.
10.10.1 Overview
10.10.2 Financial Performance
10.10.3 Product Outlook
10.10.4 Key Developments
11 APPENDIX
11.1 Related Research
Report Research Methodology
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Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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