[140 Pages Report] The torque converter market is driven by the high penetration of Automatic Transmission (AT) in mid- and premium segment cars. Also, the increasing penetration of Continuously Variable Transmission (CVT) in mid-level vehicles is expected to drive the market in developing countries. The increasing demand for luxury, comfort, and convenience is driving technological advancements in the market. The torque converter market is estimated to be at USD 5.90 Billion in 2016 and is projected to reach USD 9.88 Billion by 2025, at a CAGR of 5.78% during the forecast period.

Years considered for this report:

2016: Base Year

2017: Estimated Year

2017 � 2025: Forecast Period

Objectives of the Study:

To define and segment the global torque converter market sizing and forecast (2017�2025), in terms of volume (�000 units) and value (USD million)

To define and segment the component (clutch plate, damper, impeller, turbine, stator, and others ) -level market for market and forecast the market size, by value and volume

To understand the market and forecast the market size by value and volume, based on transmission type ( AT , CVT , and Dual-Clutch Transmission (DCT) , and region (Asia Oceania, Europe, North America, and RoW)

To segment the torque converter aftermarket and forecast the market size, by value and volume, based on region (Asia Oceania, Europe, North America, and R oW)

To identify the market dynamics (drivers, restraints, and opportunities) for the global torque converter market

The research methodology used in the report involves various secondary sources including paid databases and directories such as Society of Indian Automobile Manufacturers (SIAM), European Automobile Manufacturers' Association (ACEA), Factiva, Bloomberg, and Hoovers. Experts from related industries and suppliers have been interviewed to understand the future trends of the global market. The bottom-up approach has been used to estimate the market size, in which country-wise vehicle production statistics have been considered for each vehicle type. To arrive at the market size for torque converters, the average installation rate of torque converters has been multiplied with the vehicle production of that country to get the market volume. The market size, in terms of volume, of torque converter units for each vehicle type is then multiplied by the Average OE Price (AOP) of the torque converters. This gives the market size, in terms of value. The summation of the country-wise market gives the regional market, and further summation of the regional market provides the global torque converter market.

The figure given below shows the break-up of the profile of industry experts who participated in the primary discussion.

To know about the assumptions considered for the study, download the pdf brochure

The torque converter market ecosystem consists of manufacturers such as Schaeffler (Germany), ZF (Germany), Aisin (Japan) , EXEDY (Japan), BorgWarner (US), and Valeo (France); OEMs such as Volkswagen Group (Germany), Mercedes-Benz (Germany), Ford (U S ), Hyundai (South Korea), Toyota (Japan), and TATA (India); and equipment manufacturer associations such as Automotive Component Manufacturers Association of India (ACMA), Japan Automotive Manufacturers Association (JAMA), European Automobile Manufacturers' Association (ACEA), and Canadian Vehicle Manufacturers' Association.

Target Audience

Torque converter manufacturers

Torque converter components manufacturers

Aftermarket torque converter service providers

Original Equipment Manufacturers (OEM)

Service providers for in-vehicle infotainment

System integrators

Scope of the Report

Market By Transmission Type AT



CVT



DCT

Market By Component Clutch plate



Damper



Impeller



Stator



Turbine



Others

Market By Vehicle Type Passenger Car



Commercial Vehicle

Market By Hybrid Vehicle Hybrid Electric Vehicle (HEV)



Plug- In Hybrid Electric Vehicle (PHEV)

Aftermarket, By Region North America



Asia Oceania



Europe



RoW

OE Market By Region North America



Asia Oceania



Europe



RoW

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per company- specific needs. The following customization options are available for this report:

Market, by vehicle type & transmission, by region

Asia Oceania

Europe

North America

RoW

Market, by country

US

Canada

Mexico

China

Japan

South Korea

Germany

UK

Spain

The torque converter market, by value, is projected to grow at a CAGR of 5.78% from 2017 to 2025, to reach USD 9.88 Billion by 2025. The key factors driving the market growth include the increasing penetration of automatics in mid-segment vehicles and the increasing sale of premium segment vehicles. The rapid growth of the hybrid vehicle market is also expected to boost the demand for torque converters as these vehicles have a higher penetration of Automatic Transmission (AT) and torque converters are necessary for vehicles with AT.

The market is segmented by transmission type into AT, Continuously Variable Transmission (CVT), and Dual-Clutch Transmission (DCT). The CVT, although fuel-efficient, has poor acceleration compared with AT. Torque converters provide a better acceleration in CVT vehicles which solves a major problem of CVT vehicles. With the increasing demand for premium segment CVT vehicles in Asia Oceania, the demand for torque converters used in CVT vehicles is expected to outpace the demand for torque converters used in AT and DCT vehicles. As a result, the CVT torque converter segment is estimated to be the fastest growing market, by transmission.

The market is segmented by component into clutchplate, damper, impeller, turbine, stator, and other components. A single unit 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 more raw material, and their pricing is projected to vary with inflation. As impellers are heavier, they require more raw material. Thus, the impeller torque converter segment is projected to be the largest torque converter market, by value, during the forecast period.

The torque converter market is segmented by vehicle type into the passenger car and commercial vehicle. The penetration of automatics in passenger cars is higher as the driving experience is more important in passenger cars than commercial vehicles. Thus, the requirement of torque converters in passenger cars is significantly more than that in commercial vehicles.

The market is segmented by hybrid vehicle into Hybrid Electric Vehicle (HEV) and Plug-In Hybrid Electric Vehicle (PHEV). A PHEV can be recharged from a charging station. This is the major advantage of a PHEV over an HEV. Due to favorable government initiatives, the sale of PHEVs is projected to increase significantly during the forecast period. As PHEVs are premium vehicles, the penetration of AT and thus torque converters are significantly higher. Thus, the PHEV torque converter segment is projected to be the fastest growing hybrid vehicle market.

The torque converter market is segmented by region into Asia Oceania, Europe, North America, and RoW. North America has the largest penetration of automatics making it the largest market for torque converters. The demand for CVT vehicles in developing nations, such as China and India, is on the rise. Due to the increasing automatic vehicle production and the increasing demand for CVT vehicles, Asia Oceania is projected to be the largest market for torque converters by 2025. In the US, AT vehicles were adopted in the 1960s; this has led the country to have the largest share of the North American market. Thus, the vehicle parc of AT is largest in North America when compared with other regions. As torque converters are necessary for AT vehicles, the aftermarket in North America is projected to remain the largest.

Factors restraining the growth of the torque converter market are the high cost of repairs, less availability of components, and increasing penetration of automated manual transmission in Asia Oceania. Torque converters are designed considering the Noise, Vibration, and Harshness (NVH) conditions, transmission types, and engine of the vehicle. Thus, finding specific components is difficult thus leading to higher cost of repairs. A faulty torque converter, if left unchecked, can damage the transmission as well as the engine of the vehicle leading to a much higher cost of repairs.

The torque converter market is dominated by players such as Schaeffler (Germany), ZF (Germany), Aisin (Japan), Valeo (France), and BorgWarner (US). Schaeffler is one of the leading players in the market. The company has a wide product portfolio and supplies torque converters to several OEMs. This provides the company with a broad market as it operates in both the mass market as well as the aftermarket.

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