Automotive Torque Converter Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026, Segmented By Vehicle Type (Passenger Cars, LCV, M&HCV), By Transmission Type (Automatic Transmission (AT), Automated Manual Transmission (AMT), Dual-Clutch Transmission (DCT) and Others), By Stage (Acceleration, Coupling, Stall), By Propulsion Type (Petrol/CNG, Diesel, Electr
Published Date: May - 2025 | Publisher: MIR | No of Pages: 320 | Industry: Automotive | Format: Report available in PDF / Excel Format
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Global automotive torque converter market is anticipated to grow at a CAGR of 6.02% during the forecast period to reach USD22,736.82 million by 2026.
Anticipated growth in the market can be attributed to the increasing demand for automatic transmission in automobiles lined with the increasing research and development to produce fuel-efficient automobiles that adhere to emission regulations. Rapidly increasing urbanization, growing discretionary income and increasing desire for a pleasant driving experience is also driving the growth of the global automotive torque converter market in the upcoming five years.
Large car makers are spending heavily on the manufacture of cutting-edge car parts by combining smart technologies like automatic transmission, gasoline direct injection, etc., for the best working of cars. A clutch connects a manual transmission engine to a transmission. Otherwise, a car would be unable to stop completely without stopping the engine. But cars with an automatic transmission do not possess a clutch that disconnects the transmission from the engine. Rather, they employ an automotive torque converter for transmitting power. An automotive torque converter is a solidly built automotive part that mates the engine to the transmission. Two curved plates are placed in the core of the automotive torque converter, facing opposite directions. The interior space within the device is filled with hydraulic fluid, which is responsible for transferring the power from the engine to the transmission. Torque converter is based on the principle of fluid coupling. For fluid coupling to occur, the required quantity of fluid must be carried within the torque converter, which is accomplished using an automotive pump. The engine drives the impeller turbine that delivers this fluid to the turbine. The growing use of automatic transmission in cars around the globe is broadcasting the sales of automotive torque converters. Automotive torque converters are essential parts of a car and must be replaced when necessary. The improper functioning of an automotive torque converter can cause 100% engine failure.
The COVID-19 pandemic has had a negative impact on automobile sales across the globe, directly hampering the global automotive torque converter market. In 2020, automotive torque converter sales decreased compared to 2019 as countries globally underwent strict lockdown in the Q2 and Q3 of 2020 as a measure to counter the spread of COVID-19. The lockdown led to the temporary shutdown of all factories, including the manufacturing facilities of automotive torque converters, leading to loss of production in the global automotive torque converter market.
Reduced Clutch Assembly Cost Drives the Market Growth
Automotive torque converters are fitted in the car, which has an automatic transmission system. The role of an automotive torque converter in automatic transmission is akin to a clutch in manual transmission. Clutch assembly includes the clutch plate, clutch cover, clutch bearing, release fork, etc. All the clutch components are clubbed under one section to create a clutch assembly. The application of automotive torque converters in a vehicle lowers the expense of a clutch plate assembly of the vehicle. The automotive torque converter serves as an automatic clutch to act as the purpose of an automatic transmission for boosting torque in the vehicle. The operation of automotive torque converters is similar to the operation of a fluid flywheel with the difference being that automotive torque converters amplify the torque to the ratio of 31 or 21. The flywheel action of automotive torque converters provides smooth and consistent operations of the automatic transmission as opposed to the manual transmission. The increasing application of automotive torque converters that lead to low cost for clutch assembly is expected to propel the global automotive torque converter market during the next few years.
Growing Utilization in Commercial Vehicles
Commercial vehicles such as Buses, Trucks, Vans, etc., are used for application in a big way in logistics, public transit, etc. These cars are usually driven for extended distances or periods of time. The convenience of automatic transmission in commercial vehicles provides flexibility for the driver to drive the vehicle since the driver does not have to change gears again and again, giving the driver a free-felling experience. Additionally, the installation of an automotive torque converter provides the driver with the capability to concentrate more on the road, decreasing the likelihood of road accidents. The growing use of automotive torque converters in commercial vehicles is expected to drive the global automotive torque converter market over the next five years.
Market Segmentation
The automotive torque converter market is segmented by transmission type (e.g., automatic, CVT, DCT), vehicle type (e.g., passenger car, commercial vehicle), and hybrid vehicle type (e.g., HEV, PHEV), as well as by region. Hydraulic torque converters are currently dominant, but toroidal/CVT torque converters are projected to be fastest-growing. Additionally, the market is segmented by component (e.g., clutch plate, damper, impeller).
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By Transmission Type
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- Automatic Transmission (AT) A traditional automatic transmission using a torque converter.
- Continuously Variable Transmission (CVT) Uses a toroidal torque converter, offering smooth and efficient power delivery.
- Dual-Clutch Transmission (DCT) Also known as a DSG, uses clutches instead of a torque converter for faster gear changes.
- Other Transmissions Includes Automated Manual Transmissions (AMT) and others.
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By Vehicle Type
- Passenger Cars The largest market segment due to the higher penetration of automatic transmissions in passenger vehicles.
- Commercial Vehicles The demand for torque converters is lower in commercial vehicles compared to passenger cars.
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By Hybrid Vehicle Type
- Hybrid Electric Vehicles (HEV) Uses a combination of an internal combustion engine and electric motor, sometimes with a torque converter.
- Plug-In Hybrid Electric Vehicles (PHEV) Similar to HEVs, but can be recharged from an external power source. PHEVs often have higher penetration of automatic transmissions and torque converters.
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By Region
- North America A significant market for torque converters due to the high penetration of automatic transmissions.
- Europe A major market with a growing demand for torque converters.
- Asia Pacific A rapidly growing market, particularly in China and India, driven by the increasing demand for automatic transmissions.
- Other Regions Includes Latin America, Middle East & Africa, and other regions.
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By Component
- Clutch Plate Part of the torque converter assembly that controls fluid flow.
- Damper Reduces vibration and improves smoothness of transmission operation.
- Impeller The input part of the torque converter, driven by the engine.
- Stator A rotating component within the torque converter that helps to transfer torque.
- Turbine The output part of the torque converter, connected to the transmission.
- Other Components Includes various other parts of the torque converter.
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By Propulsion Type
- Petrol/CNG Vehicles using gasoline or compressed natural gas.
- Diesel Vehicles using diesel fuel.
- Electric & Hybrid Vehicles using electric motors and/or hybrid powertrains.
key players
Sonnax Transmission Company, Inc.
Schaeffler Technologies AG & Co. KG
Jatco Ltd.
Jeon Woo Precision Co., Ltd
BorgWarner Inc.
Precision Industries
Valeo Group
Aisin Corporation
Shaanxi Aerospace Power Hi-tech Co., Ltd
Dana Limited, Allison Transmission Inc.
Transtar Industries Inc.
Unipres Corporation.
RevMax Performance Converters
Company Profiles
|
Attribute |
Details |
|
Market Size Value in 2020 |
USD15,357.26 Million |
|
Revenue Forecast in 2026 |
USD22,736.82 Million |
|
US Revenue Forecast in 2026 |
USD4,194.82 Million |
|
Growth Rate |
6.02% |
|
Base Year |
2020 |
|
Historical Years |
2016 – 2020 |
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Estimated Year |
2021 |
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Forecast Period |
2022 – 2026 |
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Quantitative Units |
Revenue in USD Million and CAGR for 2016-2020 and 2021-2026 |
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Report Coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
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Segments Covered |
· Vehicle · Transmission · Stage · Propulsion · Region · Company |
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Regional Scope |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
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Country Scope |
United States; Mexico; Canada; Germany; France; United Kingdom; Italy; Spain; China; Japan; India; South Korea; Thailand; Brazil; Argentina; Colombia; Turkey; Iran; South Africa |
|
Key Companies Profiled |
Sonnax Transmission Company, Inc., Schaeffler Technologies AG & Co. KG, ZF Friedrichshafen AG, Exedy Corporation, Yutaka Giken Company Limited, Dynax Corporation, Jatco Ltd., Jeon Woo Precision Co,. Ltd, BorgWarner Inc. Precision Industries, Valeo Group, Aisin Corporation, Shaanxi Aerospace Power Hi-tech Co., Ltdetc. |
|
Customization Scope |
10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
|
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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