HOME Top Market Reports 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

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

By: marketsandmarkets.com
Publishing Date: November 2017
Report Code: AT 5745

 

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The torque converter market is driven by the high penetration of Automatic Transmission (AT) in mid- and premium segment cars. Also, the increasing penetration of Continuously Variable Transmission (CVT) in mid-level vehicles is expected to drive the torque converter market in developing countries. The increasing demand for luxury, comfort, and convenience is driving technological advancements in the torque converter market. The torque converter market is estimated to be at USD 5.90 Billion in 2016 and is projected to reach USD 9.88 BBillion by 2025, at a CAGR of 5.78% during the forecast period.

Years considered for this report:

  • 2016: Base Year
  • 2017: Estimated Year
  • 2017 – 2025: Forecast Period

Objectives of the Study:

  • To define and segment the global torque converter market sizing and forecast (2017–2025), in terms of volume (‘000 units) and value (USD million)
  • To define and segment the component  (clutch plate, damper, impeller, turbine, stator, and others ) -level market for torque converter market and forecast the market size, by value and volume
  • To understand the torque converter market and forecast the market size by value and volume, based on transmission type ( AT , CVT , and Dual-Clutch Transmission (DCT) , and region (Asia Oceania, Europe, North America, and RoW)
  • To segment the torque converter aftermarket and forecast the market size, by value and volume, based on region (Asia Oceania, Europe, North America, and R oW)
  • To identify the market dynamics (drivers, restraints, and opportunities) for the global torque converter market

The research methodology used in the report involves various secondary sources including paid databases and directories such as Society of Indian Automobile Manufacturers (SIAM), European Automobile Manufacturers' Association (ACEA), Factiva, Bloomberg, and Hoovers. Experts from related industries and suppliers have been interviewed to understand the future trends of the torque converter market. The bottom-up approach has been used to estimate the market size, in which country-wise vehicle production statistics have been considered for each vehicle type. To arrive at the market size for torque converters, the average installation rate of torque converters has been multiplied with the vehicle production of that country to get the market volume. The market size, in terms of volume, of torque converter units for each vehicle type is then multiplied by the Average OE Price (AOP) of the torque converters. This gives the market size, in terms of value. The summation of the country-wise market gives the regional market, and further summation of the regional market provides the global torque converter market.

The figure given below shows the break-up of the profile of industry experts who participated in the primary discussion.

Torque Converter Market

To know about the assumptions considered for the study, download the pdf brochure

The torque converter market ecosystem consists of manufacturers such as Schaeffler (Germany), ZF (Germany), Aisin (Japan) ,  EXEDY (Japan),   BorgWarner (US),  and Valeo (France); OEMs such as Volkswagen Group (Germany), Mercedes-Benz (Germany), Ford (U S ), Hyundai (South Korea), Toyota (Japan), and TATA (India); and equipment manufacturer associations such as Automotive Component Manufacturers Association of India (ACMA), Japan Automotive Manufacturers Association (JAMA), European Automobile Manufacturers' Association (ACEA), and Canadian Vehicle Manufacturers' Association.

Target Audience

  • Torque converter manufacturers
  • Torque converter components manufacturers
  • Aftermarket torque converter service providers
  • Original Equipment Manufacturers (OEM)
  • Service providers for in-vehicle infotainment
  • System integrators

Scope of the Report

  • By Transmission Type
    • AT
    • CVT
    • DCT
  • By Component
    • Clutch plate
    • Damper
    • Impeller
    • Stator
    • Turbine
    • Others
  • By Vehicle Type
    • Passenger Car
    • Commercial Vehicle
  • By Hybrid Vehicle
    • Hybrid Electric Vehicle (HEV)
    • Plug- In Hybrid Electric Vehicle (PHEV)
  • Aftermarket, By Region
    • North America
    • Asia Oceania
    • Europe
    • RoW
  • OE Market By Region
    • North America
    • Asia Oceania
    • Europe
    • RoW

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per company- specific needs. The following customization options are available for this report:

Torque converter market, by vehicle type & transmission, by region

  • Asia Oceania
  • Europe
  • North America
  • RoW

Torque converter market, by country

  • US
  • Canada
  • Mexico
  • China
  • Japan
  • South Korea
  • Germany
  • UK
  • Spain

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
    2.2 Data Triangulation
    2.3 Market Size Estimation
           2.3.1 Oe Market
           2.3.2 Aftermarket
    2.4 Research Assumptions

3 Executive Summary (Page No. - 24)

4 Premium Insights (Page No. - 31)
    4.1 Torque Converter Market: Attractive Opportunities for Manufacturers
    4.2 Torque Converter Market, By Country
    4.3 Market, By Transmission Type
    4.4 Market, By Vehicle Type
    4.5 Market, By Component
    4.6 Torque Converter Aftermarket, By Vehicle

5 Market Overview (Page No. - 35)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Sale of Hybrid Electric Vehicles
                    5.2.1.2 Increasing Demand for Automatics
           5.2.2 Restraints
                    5.2.2.1 High Cost of Repairs
           5.2.3 Opportunities
                    5.2.3.1 Increasing Use of DCT Transmission
           5.2.4 Challenges
                    5.2.4.1 Increasing Popularity of Automated Manual Transmission (AMT)
                    5.2.4.2 Low Fuel Efficiency in Automatic Transmission (AT) Vehicles
    5.3 Macro-Indicator Analysis
           5.3.1 Introduction
                    5.3.1.1 Premium Segment Car Sales as A Percentage of Total Sales
                    5.3.1.2 GDP (USD Billion)
                    5.3.1.3 GNP Per Capita, Atlas Method (USD)
                    5.3.1.4 GDP Per Capita Ppp (USD)
           5.3.2 Macro Indicators Influencing the Torque Converters Market for Top 3 Countries
                    5.3.2.1 US
                    5.3.2.2 Japan
                    5.3.2.3 Germany

6 Torque Converter Market, By Transmission Type (Page No. - 46)
    6.1 Introduction
    6.2 Automatic Transmission (AT)
    6.3 Continuously Variable Transmission (CVT)
    6.4 Dual-Clutch Transmission (DCT)

7 Torque Converter Market, By Component (Page No. - 52)
Note - The Chapter is Further Segmented at Regional Level and Regions Considered are Asia Oceania, Europe, North America, and RoW
    7.1 Introduction
    7.2 Clutch Plate
    7.3 Damper
    7.4 Impeller
    7.5 Stator
    7.6 Turbine
    7.7 Other Components

8 Torque Converter Market, By Vehicle Type (Page No. - 61)
Note - The Chapter is Further Segmented at Regional Level and Regions Considered are Asia Oceania, Europe, North America, and RoW
    8.1 Introduction
    8.2 Passenger Car
    8.3 Commercial Vehicle

9 Torque Converter Market, By Hybrid Vehicle Type (Page No. - 66)
Note - The Chapter is Further Segmented at Regional Level and Regions Considered are Asia Oceania, Europe, North America, and RoW
    9.1 Introduction
    9.2 Hybrid Electric Vehicle (HEV)
    9.3 Plug-In Electric Vehicle (PHEV)

10 Torque Converter Aftermarket, By Vehicle Type (Page No. - 71)
Note - The Chapter is Further Segmented at Regional Level and Regions Considered are Asia Oceania, Europe, North America, and RoW
     10.1 Introduction
     10.2 Passenger Car
     10.3 Commercial Vehicle

11 Torque Converter Market, By Region (Page No. - 76)
Note - The Chapter is Further Segmented at Country Level and Transmission Types Considered are Automatic Transmission (AT), Continuously Variable Transmission (CVT) and Dual Clutch Transmission (DCT)
     11.1 Introduction
     11.2 Asia Oceania
             11.2.1 China
             11.2.2 Japan
             11.2.3 South Korea
             11.2.4 India
     11.3 Europe
             11.3.1 Germany
             11.3.2 France
             11.3.3 UK
             11.3.4 Spain
     11.4 North America
             11.4.1 US
             11.4.2 Canada
             11.4.3 Mexico
     11.5 Rest of the World (RoW)
             11.5.1 Brazil
             11.5.2 Russia

12 Competitive Landscape (Page No. - 102)
     12.1 Overview
     12.2 Market Ranking Analysis
     12.3 Competitive Scenario
             12.3.1 New Product Developments
             12.3.2 Mergers & Acquisitions
             12.3.3 Partnerships/Supply Contracts/Collaborations/Jvs
             12.3.4 Expansions

13 Company Profiles (Page No. - 106)
(Overview, Recent Financials, Product Offerings, & Recent Developments)*
     13.1 Schaeffler
     13.2 ZF
     13.3 Aisin
     13.4 Valeo
     13.5 Kapec
     13.6 Transtar.
     13.7 Exedy
     13.8 Yutaka Giken
     13.9 Borgwarner
     13.10 Sonnax Industries

*Details on Overview, Recent Financials, Product Offerings, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 132)
     14.1 Key Industry Insights
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Introducing Rt: Real Time Market Intelligence
     14.5 Available Customizations
             14.5.1 Torque Converter Market, By Vehicle Type & Transmission, By Region
                        14.5.1.1 Asia Oceania
                        14.5.1.2 Europe
                        14.5.1.3 North America
                        14.5.1.4 RoW
             14.5.2 Torque Converter Aftermarket, By Country
                        14.5.2.1 US
                        14.5.2.2 Canada
                        14.5.2.3 Mexico
                        14.5.2.4 China
                        14.5.2.5 Japan
                        14.5.2.6 South Korea
                        14.5.2.7 Germany
                        14.5.2.8 UK
                        14.5.2.9 Spain
     14.6 Related Reports
     14.7 Author Details


List of Tables (83 Tables)

Table 1 Currency Exchange Rates (Per USD)
Table 2 Torque Converter Market Assumption
Table 3 Torque Convertor Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 4 Torque Convertor Market Size, By Transmission Type 2015–2025 (USD Million)
Table 5 Automatic Transmission: Torque Converter Market, By Region, 2015–2025 (‘000 Units)
Table 6 Automatic Transmission: Market, By Region, 2015–2025 (USD Million)
Table 7 Continuously Variable Transmission: Torque Converter Market, By Region, 2015–2025 (‘000 Units)
Table 8 Continuously Variable Transmission: Market, By Region, 2015–2025 (USD Million)
Table 9 Dual Clutch Transmission: Torque Converter Market, By Region, 2015–2025 (‘000 Units)
Table 10 Dual Clutch Transmission: Market, By Region, 2015–2025 (USD Million)
Table 11 Torque Converter Market Size, By Component, 2015–2025 (Million Units)
Table 12 Market Size, By Component, 2015–2025 (USD Million)
Table 13 Torque Converter: Clutch Plate Market Size, By Region, 2015–2025 (Million Units)
Table 14 Torque Converter: Clutch Plate Market Size, By Region, 2015–2025 (USD Million)
Table 15 Torque Converter: Damper Market Size, By Region, 2015–2025 (Million Units)
Table 16 Torque Converter: Damper Market Size, By Region, 2015–2025 (USD Million)
Table 17 Torque Converter: Impeller Market Size, By Region, 2015–2025 (Million Units)
Table 18 Torque Converter: Impeller Market Size, By Region, 2015–2025 (USD Million)
Table 19 Torque Converter: Stator Market Size, By Region, 2015–2025 (Million Units)
Table 20 Torque Converter: Stator Market Size, By Region, 2015–2025 (USD Million)
Table 21 Torque Converter: Turbine Market Size, By Region, 2015–2025 (Million Units)
Table 22 Torque Converter: Turbine Market Size, By Region, 2015–2025 (USD Million)
Table 23 Torque Converter: Other Components Market Size, By Region, 2015–2025 (USD Million)
Table 24 Torque Converter: Market Size, By Vehicle Type, 2015–2025 (‘000 Units)
Table 25 Torque Converter: Market Size, By Vehicle Type, 2015–2025 (USD Million)
Table 26 Torque Converter: Passenger Car Market Size, By Region, 2015–2025 (‘000 Units)
Table 27 Torque Converter: Passenger Car Market Size, By Region, 2015–2025 (USD Million)
Table 28 Torque Converter: Commercial Vehicle Market Size, By Region, 2015–2025 (‘000 Units)
Table 29 Torque Converter: Commercial Vehicle Market Size, By Region, 2015–2025 (USD Million)
Table 30 Torque Converter: Hybrid Vehicle Market Size, By Hybrid Vehicle Type, 2015–2025 (‘000 Units)
Table 31 Torque Converter: Hybrid Vehicle Market Size, By Hybrid Vehicle Type, 2015–2025 (USD Million)
Table 32 Top Selling HEV With Automatic Transmission, By Region, 2016
Table 33 HEV Torque Converter Market Size, By Region, 2015–2025 (‘000 Units)
Table 34 HEV Torque Converter Market Size, By Region, 2015–2025 (USD Million)
Table 35 Top Selling PHEV With Automatic Transmission, By Region, 2016
Table 36 Torque Converter: PHEV Market Size, By Region, 2015–2025 (‘000 Units)
Table 37 Torque Converter: PHEV Market Size, By Region, 2015–2025 (USD Million)
Table 38 Torque Converter Aftermarket Size, By Vehicle Type, 2015–2025 (‘000 Units)
Table 39 Torque Converter Aftermarket Size, By Vehicle Type, 2015–2025 (USD Million)
Table 40 Passenger Car Torque Converter Aftermarket Size, By Region, 2015–2025 (‘000 Units)
Table 41 Passenger Car Torque Converter Aftermarket Size, By Region, 2015–2025 (USD Million)
Table 42 Commercial Vehicle Torque Converter Aftermarket Size, By Region, 2015–2025 (‘000 Units)
Table 43 Commercial Vehicle Torque Converter Aftermarket Size, By Region, 2015–2025 (USD Million)
Table 44 Torque Converter Market, By Region, 2015-2025 (‘000 Units)
Table 45 Market, By Region, 2015-2025 (USD Million)
Table 46 Asia Oceania: Torque Converter Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 47 Asia Oceania: Market Size, By Transmission Type, 2015–2025 (USD Million)
Table 48 China: Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 49 China: Market Size, By Transmission Type, 2015–2025 (USD Million)
Table 50 Japan: Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 51 Japan: Market Size, By Transmission Type, 2015–2025 (USD Million)
Table 52 South Korea: Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 53 South Korea: Market Size, By Transmission Type, 2015–2025 (USD Million)
Table 54 India: Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 55 India: Market Size, By Transmission Type, 2015–2025 (USD Million)
Table 56 Europe: Torque Converter Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 57 Europe: Market Size, By Transmission Type, 2015–2025 (USD Million)
Table 58 Germany: Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 59 Germany: Market Size, By Transmission Type, 2015–2025 (USD Million)
Table 60 France: Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 61 France: Market Size, By Transmission Type, 2015–2025 (USD Million)
Table 62 UK: Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 63 UK: Market Size, By Transmission Type, 2015–2025 (USD Million)
Table 64 Spain: Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 65 Spain: Market Size, By Transmission Type, 2015–2025 (USD Million)
Table 66 North America: Torque Converter Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 67 North America: Market Size, By Transmission Type, 2015–2025 (USD Million)
Table 68 US: Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 69 US: Market Size, By Transmission Type, 2015–2025 (USD Million)
Table 70 Canada: Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 71 Canada: Market Size, By Transmission Type, 2015–2025 (USD Million)
Table 72 Mexico: Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 73 Mexico: Market Size, By Transmission Type, 2015–2025 (USD Million)
Table 74 RoW: Torque Converter Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 75 RoW: Market Size, By Transmission Type, 2015–2025 (USD Million)
Table 76 Brazil: Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 77 Brazil: Market Size, By Transmission Type, 2015–2025 (USD Million)
Table 78 Russia: Market Size, By Transmission Type, 2015–2025 (‘000 Units)
Table 79 Russia: Market Size, By Transmission Type, 2015–2025 (USD Million)
Table 80 New Product Development, 2015–2016
Table 81 Mergers & Acquisitions, 2015
Table 82 Partnerships/Supply Contracts/Collaborations/Joint Ventures, 2017
Table 83 Expansions, 2015–2017


List of Figures (46 Figures)

Figure 1 Market Segmentation: Torque Converter Market
Figure 2 Torque Converters Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Torque Converter Oe Market: Bottom-Up Approach
Figure 5 Torque Converter Aftermarket: Bottom-Up Approach
Figure 6 Torque Converter Market, By Transmission Type, 2017 vs 2025 (USD Billion)
Figure 7 Market, By Component, 2017 vs 2025 (USD Billion)
Figure 8 Torque Converter Market, By Vehicle Type, 2017 vs 2025 (USD Billion)
Figure 9 Market, By Hybrid Vehicle Type, 2017 vs 2025 (USD Million)
Figure 10 Torque Converter Aftermarket, By Region, 2017 vs 2025 (USD Billion)
Figure 11 Torque Converter Market, By Region, 2017
Figure 12 Growing Demand for Automatic Transmissions to Drive the Growth in the Torque Converter Market
Figure 13 Italy to Be the Fastest Growing Market for Torque Converters From 2017 to 2025
Figure 14 Torque Converter Market for CVT & DCT Transmission to Gain Market Share By 2025 (USD Billion)
Figure 15 Passenger Car to Be the Largest and Fastest Growing Market for Torque Converter, 2017 vs 2025 (USD Billion)
Figure 16 Impellor to Be the Largest Component Market for Torque Converter, 2017 vs 2025 (USD Billion)
Figure 17 Passenger Car Segment to Be the Largest Aftermarket for Torque Converters, By Region, 2017–2025 (USD Billion)
Figure 18 Market Dynamics: Automotive Torque Converter Market
Figure 19 US, Japan, China, Germany, and UK HEV Sales, 2011 vs 2016
Figure 20 US, China, Japan, Germany, UK PHEV Sales, 2011 vs 2016
Figure 21 Global Automatic Transmission Production (2013, 2017 & 2022)
Figure 22 Global Continuously Variable Transmission Production (2013, 2017 & 2022)
Figure 23 Global DCT Production (2013, 2017 & 2022)
Figure 24 US: Macro Indicators Affecting Torque Converters Market
Figure 25 Japan: Macro Indicators Affecting Torque Converters Market
Figure 26 Germany: Macro Indicators Affecting Torque Converters Market
Figure 27 Global Torque Convertor Market, By Transmission Type, 2015–2025 (USD Billion)
Figure 28 Torque Converter Market, By Component, 2017 vs 2025 (USD Billion)
Figure 29 Torque Converter Market, By Vehicle Type, 2017 vs 2025
Figure 30 Torque Converter Market, By Hybrid Vehicle Type, 2017 vs 2025 (USD Million)
Figure 31 Torque Converter Aftermarket, By Region, 2017–2025 (USD Billion)
Figure 32 Torque Converter Market, By Region, 2017 vs 2025 (USD Billion)
Figure 33 Asia Oceania: Torque Converter Market, By Country, 2017 vs 2025 (USD Million)
Figure 34 Asia Oceania: Torque Converter Market Snapshot
Figure 35 Europe: Torque Converter Market, By Country, 2017 vs 2025 (USD Million)
Figure 36 North America: Torque Converter Market, By Country, 2017 vs 2025 (USD Million)
Figure 37 North America: Torque Converter Market Snapshot
Figure 38 Rest of the World (RoW): Torque Converter Market, By Country, 2017 vs 2025 (USD Million)
Figure 39 Torque Converter Market Ranking, 2016
Figure 40 Schaeffler: Company Snapshot
Figure 41 ZF: Company Snapshot
Figure 42 Aisin Group: Company Snapshot
Figure 43 Valeo: Company Snapshot
Figure 44 Exedy: Company Snapshot
Figure 45 Yutaka Giken: Company Snapshot
Figure 46 Borgwarner: Company Snapshot

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 penetration of automatics in mid-segment vehicles and the increasing sale of premium segment vehicles. The rapid growth of the hybrid vehicle 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 necessary for vehicles with AT.

The torque converter market is segmented by transmission type into AT, Continuously Variable Transmission (CVT), and Dual-Clutch Transmission (DCT). The CVT, although fuel-efficient, has poor acceleration compared with AT. Torque converters provide a better acceleration in 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 DCT vehicles. As a result, the CVT torque converter segment is estimated to be the fastest growing torque converter market, by transmission.

The torque converter market is segmented by component into clutchplate, damper, impeller, turbine, stator, and other components. A single unit of impeller, turbine, stator, and damper is used in a torque converter. The pricing of these components differs according to their size, weight, and design complexity. Heavier components require more raw material, and their pricing is projected to vary with inflation. As impellers are heavier, they require more raw material. Thus, the impeller torque converter segment is projected to be the largest market, by value, during the forecast period.

The torque converter market is segmented by vehicle type into the passenger car and commercial vehicle. The penetration of automatics in passenger cars is higher as the driving experience is more important in passenger cars than commercial vehicles. Thus, the requirement of torque converters in passenger cars is significantly more than that in commercial vehicles.

The torque converter market is segmented by hybrid vehicle into Hybrid Electric Vehicle (HEV) and Plug-In Hybrid Electric Vehicle (PHEV). A PHEV can be recharged from a charging station. This is the major advantage of a PHEV over an HEV. Due to favorable government initiatives, the sale of PHEVs is projected to increase significantly during the forecast period. As PHEVs are premium vehicles, the penetration of AT and thus torque converters are significantly higher. Thus, the PHEV torque converter segment is projected to be the fastest growing hybrid vehicle torque converter market.

The torque converter market is segmented by region into Asia Oceania, Europe, North America, and RoW. North America has the largest penetration of automatics making it the largest market for torque converters. The demand for CVT vehicles in developing nations, such as China and India, is on the rise. Due to the increasing automatic vehicle production and the increasing demand for CVT vehicles, Asia Oceania is projected to be the largest market for torque converters by 2025. In the US, AT vehicles were adopted in the 1960s; this has led the country to have the largest share of the North American market. Thus, the vehicle parc of AT is largest in North America when compared with other regions. As torque converters are necessary for AT vehicles, the aftermarket in North America is projected to remain the largest.

Torque Converter Market

Factors restraining the growth of the torque converter market are the high cost of repairs, less availability of components, and increasing penetration of automated manual transmission in Asia Oceania. Torque converters are designed considering the Noise, Vibration, and Harshness (NVH) conditions, transmission types, and engine of the vehicle. Thus, finding specific components is difficult thus leading to higher cost of repairs. A faulty torque converter, if left unchecked, can damage the transmission as well as the engine of the vehicle leading to a much higher cost of repairs.

The torque converter market is dominated by players such as Schaeffler (Germany), ZF (Germany), Aisin (Japan), Valeo (France), and BorgWarner (US). Schaeffler is one of the leading players in the market. The company has a wide product portfolio and supplies torque converters to several OEMs. This provides the company with a broad market as it operates in both the mass market as well as the aftermarket.

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