DUBLIN--(BUSINESS WIRE)--The "Torque Converter Market - Global Forecast to 2025" report has been added to Research and Markets' offering.
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 demand for automatics in mid-segment and premium segment vehicles. The rapid growth of the hybrid vehicles 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 mandatory in vehicles with AT.
On the other hand, the major factors hindering the market growth of torque converters are the high cost of repairs and low availability of spare parts.
The market for passenger cars is projected to grow at the highest CAGR, in terms of value, during the forecast period. The increasing demand for premium segment automatics is expected to drive the demand for torque converters in passenger vehicles. China accounts for 30% of the global vehicle production according to OICA. Thus, the increasing demand for passenger cars in Asia Oceania is projected to drive the market for torque converters.
Torque converters provide a better launch in Continuously Variable Transmission (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 Dual-Clutch Transmission (DCT) vehicles. As a result, the CVT torque converters market is estimated to be the fastest growing market, by transmission.
Companies Mentioned
- Aisin
- Borgwarner
- Exedy
- Kapec
- Schaeffler
- Sonnax Industries
- Transtar.
- Valeo
- Yutaka Giken
- ZF
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Torque Converter Market, By Transmission Type
7 Torque Converter Market, By Component
8 Torque Converter Market, By Vehicle Type
9 Torque Converter Market, By Hybrid Vehicle Type
10 Torque Converter Aftermarket, By Vehicle Type
11 Torque Converter Market, By Region
12 Competitive Landscape
13 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/2d583n/torque_converter
