The global market for Torque Converters was valued at USD 6.3 Billion in 2024 and is projected to reach USD 7.9 Billion by 2030, growing at a CAGR of 4% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Global Torque Converters Market - Key Trends & Drivers Summarized
What Are Torque Converters and Why Are They Important?
Torque converters are essential components in automatic transmissions, acting as a bridge between the engine and the transmission. They transfer and multiply engine torque to the transmission, allowing for smooth acceleration and efficient power delivery. Unlike manual transmissions that use a clutch, torque converters enable automatic gear changes without manual input, enhancing driving comfort and convenience. Their ability to provide variable torque multiplication and fluid coupling makes them crucial for modern vehicles, ensuring optimal performance and fuel efficiency.How Do Torque Converters Function in Automotive Systems?
Torque converters function by utilizing fluid dynamics to transmit power from the engine to the transmission. They consist of three main components: the pump, turbine, and stator. The pump, connected to the engine, pushes transmission fluid into the turbine, which is connected to the transmission. The stator redirects the fluid between the pump and turbine, enhancing torque multiplication and efficiency. This fluid coupling allows for smooth acceleration, as the torque converter adjusts to varying driving conditions without the need for manual gear changes. Additionally, lock-up mechanisms in modern torque converters improve fuel efficiency by creating a direct mechanical connection at higher speeds, reducing energy losses.What Are the Challenges and Opportunities in Torque Converters Development?
The development of torque converters faces several challenges and opportunities. One major challenge is balancing performance with fuel efficiency, as the need for smoother and more responsive acceleration often conflicts with the goal of reducing fuel consumption. Additionally, advancements in electric and hybrid vehicle technology pose challenges for traditional torque converter designs, necessitating innovation and adaptation. On the opportunity side, continuous improvements in materials and manufacturing processes are enhancing the durability and performance of torque converters. There is also growing demand for advanced torque converters that can seamlessly integrate with modern vehicle control systems, offering improved driving dynamics and fuel economy. Furthermore, the rise of electric and hybrid vehicles presents opportunities for developing new types of torque converters tailored to these technologies.What Is Driving the Growth in the Torque Converters Market?
The growth in the torque converters market is driven by several factors. Firstly, the increasing production of automatic transmission vehicles, particularly in emerging markets, is boosting demand for torque converters. Secondly, advancements in automotive technology and the trend towards more efficient and comfortable driving experiences are driving the adoption of modern torque converters. Thirdly, the growing focus on reducing emissions and improving fuel efficiency is encouraging the development of advanced torque converters with enhanced performance characteristics. Additionally, the rise of electric and hybrid vehicles is creating new opportunities for torque converter innovations. Finally, the expansion of the automotive aftermarket and the need for replacement parts are further driving market growth.Report Scope
The report analyzes the Torque Converters market, presented in terms of market value (USD Thousand). The analysis covers the key segments and geographic regions outlined below.Segments
Transmission Type (Automated Manual Transmission (AMT), Dual-Clutch Transmission (DCT), Continuously Variable Transmission (CVT), Other Transmission Types); Component (Clutch Plate, Damper, Impeller, Turbine, Stator, Other Components); End-Use (Passenger Cars, Commercial Vehicles).Geographic Regions/Countries
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Automated Manual Transmission (AMT) segment, which is expected to reach $3.7 Billion by 2030 with a CAGR of a 3.4%. The Dual-Clutch Transmission (DCT) segment is also set to grow at 4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $1.7 Billion in 2024, and China, forecasted to grow at an impressive 3.7% CAGR to reach $1.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in USD from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Aisin Europe Aftermarket, BorgWarner, Inc., EXEDY Corporation, Schaeffler AG, Sonnax Transmission Company, Inc. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Torque Converters Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Torque Converters Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Torque Converters Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Some of the 103 major companies featured in this Torque Converters market report include:
- Aisin Europe Aftermarket
- BorgWarner, Inc.
- EXEDY Corporation
- Schaeffler AG
- Sonnax Transmission Company, Inc.
- Transtar Industries, Inc.
- Valeo Kapec Co., Ltd.
- Valeo SA
- Yutaka Giken Co., Ltd.
- ZF Friedrichshafen AG
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAITALYREST OF EUROPEREST OF WORLDIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
UNITED KINGDOM
ASIA-PACIFIC
Companies Mentioned
- Aisin Europe Aftermarket
- BorgWarner, Inc.
- EXEDY Corporation
- Schaeffler AG
- Sonnax Transmission Company, Inc.
- Transtar Industries, Inc.
- Valeo Kapec Co., Ltd.
- Valeo SA
- Yutaka Giken Co., Ltd.
- ZF Friedrichshafen AG
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 295 |
Published | February 2025 |
Forecast Period | 2024 - 2030 |
Estimated Market Value ( USD | $ 6.3 Billion |
Forecasted Market Value ( USD | $ 7.9 Billion |
Compound Annual Growth Rate | 4.0% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |