PUNE, India, November 17, 2017 /PRNewswire/ --
The report "Torque Converter Market by Transmission Type (AT, CVT, and DCT), Component (Clutch Plate, Damper, Impeller, Turbine, and Stator), Vehicle (Passenger Car and Commercial Vehicle), Hybrid Vehicle (HEV and PHEV), Aftermarket, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the market is projected to grow at a CAGR of 5.78% from 2017 and is expected to reach USD 9.88 Billion by 2025. The Torque converter market is driven by the increasing sale of automatics, the increasing demand for Continuously Variable Transmission (CVT) and the rising demand for luxury vehicles.
Browse 83 Market Data Tables and 46 Figures spread through 140 Pages and in-depth TOC on "Torque Converter Market - Global Forecast to 2025"
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Automatic transmission to be the largest segment of the Torque converter market
The study segments the torque converters market by transmission type into Automatic Transmission (AT), CVT, and Dual -Clutch Transmission (DCT). A T is estimated to be the largest market for torque converters during the forecast period. The market growth of this transmission segment can be attributed to the increasing production of passenger cars in North America and the mandatory installation of torque converters in AT vehicles.
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HEV to be the largest segment of the Torque converter market by hybrid vehicle type
The sales of Hybrid Electric Vehicles (HEVs) are increasing as they provide the benefit of having an Internal Combustion Engine (ICE) as well as an electric motor in the vehicle. Thus, the increasing sales of HEVs and the high penetration of AT in HEV makes them the largest segment of the Torque converter market by hybrid vehicle type.
Europe to be the fastest growing region for torque converters
The market for torque converters in Europe is very small compared to North America and Asia Oceania as consumers in Europe prefer DCT over AT. Torque converters solve the problem of lurching at low speed in DCT vehicles. The demand for torque converters in DCT vehicles is at a nascent stage. However, during the forecast period, their demand is projected to increase as they improve the driving experience of DCT vehicles. Hence, Europe with its high penetration of DCT is projected to be the fastest growing market during the forecast period.
The major companies in the Torque converter market are profiled in the study. These include Schaeffler (Germany), ZF Friedrichshafen (Germany), Aisin (Japan), Valeo S.A. (France), KAPEC (South Korea), Transtar (US), EXEDY (Japan), Yutaka Giken (Japan), BorgWarner, Inc. (US), and Sonnax Industries (US).
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