Subject: MRR
Technavio's Automotive Torque Converter Market Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers
NEW YORK, Jan. 20, 2022 /PRNewswire/ -- The latest automotive torque converter market research report by Technavio deduces that the increasing demand for automotive transmission systems is driving this market's growth.
Resulting in the market growth of USD 2.14 billion from 2020 to 2025, read additional information about the automotive torque converter market, Get FREE sample report.
Vendor Landscape
The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market.
Aisin Seiki Co. Ltd., Delphi Technologies Plc, Schaeffler AG, Sonnax Transmission Co. Inc., SUBARU Corp., Transtar Industries Inc., Valeo SA, Voith GmbH & Co. KGaA, Yutaka Giken Co. Ltd. and ZF Friedrichshafen AG among others are some of the few key vendors competing to maintain their market position in the market.
Various players in the market are engaging in strategies such as launching differentiated products to up their game in the automotive market. Moreover, the well-established players in the regional markets are following the low-price strategy to maintain the competition. Furthermore, the competition based on cost, technology, and design is likely to intensify among the existing players.
View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.
Key Market Segmentation
- Segmentation by Type:
- Passenger vehicles:
- The automotive torque converter market share growth through the passenger vehicles segment will be significant during the forecast period.
- The increase in the demand for automatic hydraulic transmission vehicles and CVT passenger vehicles is fueling the global automotive torque converter market growth. The rapid increase in the passenger vehicle segment is expected to boost the demand for torque converters considerably. However, the increase in the demand is mainly because of the rise in sales of passenger cars in APAC. Furthermore, the increased disposable income is prominently driving the passenger vehicle sector in emerging economies in APAC such as India, China and Indonesia.
- Commercial vehicles
Request a FREE Sample of this report for more highlights into the market segments.
Regional Market Outlook
APAC will contribute 58% of the market growth during the forecast period. With the increase in demand for electric vehicles in countries such as China and India, there are also strict regulatory norms being imposed to lower the emission levels. Moreover, these countries are developing rapidly and are also major producers and consumers of automobiles and are home to many automotive component manufacturing units. However, the sales of electric vehicles are expected to go up during the forecast period, boosting the revenue of the region's automotive torque converter market.
Apart from regions, if we look at the country-wise market growth, the US, China, Germany, UK, and Japan will contribute to the highest market growth.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Latest Trends, Driving the Global Automotive Torque Converter Market
- Market Driver:
- Growth in the demand for automatic transmission systems:
The increasing demand for automatic transmission systems is one of the key factors driving the automotive torque converter market growth during the forecast period. Since these automatic transmission systems are more productive than the other transmission systems, the demand for these systems is increasing. Also, these automatic transmission systems are economical and resource-friendly as compared to manual transmission systems. Moreover, with the rising preference of consumers for comfort and safety in vehicles, the demand for installing advanced technologies is also increasing which is impacting the automatic transmission systems positively.
- Market Trend:
- Advancements of technologies in torque converters:
Technological advancements are improving the efficiency of vehicle operation which is encouraging the manufacturers to focus on optimizing torque converters. In addition, modern torque converters are small in size, less in weight, have a high lockup range, and advanced production processes, and also help in reducing the overall operating costs. Therefore, demand for these torque converters will rise during the forecast period as the manufacturers are focused on enhancing fuel efficiency and also achieving high torque by raising the lock up range in the vehicles.
Find additional information about various other market drivers & trends mentioned in our FREE sample report.
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Automotive Torque Converter Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 6.52% |
Market growth 2021-2025 | $ 2.14 billion |
Market structure | Fragmented |
YoY growth (%) | 5.76 |
Regional analysis | North America, APAC, Europe, South America, and MEA |
Performing market contribution | APAC at 58% |
Key consumer countries | US, China, Germany, UK, and Japan |
Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled | Aisin Seiki Co. Ltd., BorgWarner Inc., Continental AG, Delphi Technologies Plc, Dynamic Manufacturing Inc., EXEDY Corp., Robert Bosch GmbH, Schaeffler AG, Sonnax Transmission Co. Inc., SUBARU Corp., Transtar Industries Inc., Valeo SA, Voith GmbH & Co. KGaA, Yutaka Giken Co. Ltd., and ZF Friedrichshafen AG |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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