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Torque Converter Market Drivers Growing Demand for Passenger Cars and Luxurious Vehicles

HYDERABAD, TELANGANA, INDIA, January 12, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Torque Converter Market is forecast to reach $9.40 billion by 2025, after growing at a CAGR of 5.65% during 2020-2025. The growth of the torque converter market is majorly attributed to the growth of automatic transmission vehicle market. The rapid growth in the demand of CVT passenger vehicles and automatic hydraulic transmission vehicles in the developed parts of the world is majorly anticipated to have positive impact on the growth of the market during the forecast period. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Torque-Converter-Market-Research-501034

Key takeaways:

1. North America dominated the market of torque convertor, owing to the high adoption of the advanced technology.

2. The high demand of passenger cars in the developed countries such as the U.S, Germany and Canada is contributing towards the growth of the market.

3. The growing demand of the Duel Clutch and automatic Transmission system along with the torque convertor is contributing towards the growth of the market.

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https://www.industryarc.com/pdfdownload.php?id=501034

Segmental Analysis:

1. Duel Clutch segment held the largest market share in the fuel Torque Converter Market in 2018. The growing deployment of the duel clutch in most of the vehicles (passenger vehicle/commercial vehicle) is significantly contributing towards the growth of the Torque Converter market.

2. By the type of vehicle the market is broadly categorized into two major types: Passenger Vehicles and Commercial Vehicles. These passenger vehicle is estimated to grow at a faster pace during the forecast period.

3. According to OICA, China held 35% market share in global passenger cars sales in 2017. The growing sales of the passenger vehicles is anticipated to raise the growth of the market during the forecast period.

4. North America denominated the market of Torque Convertor with a market share more than 30%, followed by Europe in 2018. The high growth rate in these regions is mostly attributed to the technological advancement and easy adoption of the new technology in countries such as U.S, Canada, Germany, U.K., France and other regions.

5. By the end of September 2019, the total number of passenger cars manufactured in Germany was 415,500 units, which was an increase of about 4% since previous year (2018). The growing production is attributed to the growing demand of these vehicles across the globe.

Competitive Landscape:

The top 5 players in the Torque Converter industry are -

1. Aisin

2. Borgwarner

3. Exedy

4. Kapec

5. Schaeffler

Click on the following link to buy the Torque Converter Market Report:
https://www.industryarc.com/reports/request-quote?id=501034

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Related Reports:

A. Torque Vectoring Market
https://www.industryarc.com/Research/Torque-Vectoring-Market-Research-505713

B. Global AT Automotive Torque Converter Market
https://www.industryarc.com/Research/Global-AT-Automotive-Torque-Converter-Market-Research-512803

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