Global Torque Converter Market for Automotive: Overview
The torque converter allows the vehicle to attain various gear ratios without using a conventional gear box. The torque converter separates the engine and transmission and allows the engine to work independently of the transmission. Use of the torque converter also eliminates the clutch and thus, achieves better ride quality by eliminating the necessity to utilize the clutch pedal.
Global Torque Converter Market for Automotive: Drivers and Restraints
The torque converter houses a turbine, impeller, and stator. The torque converter acts as a fluid coupling by directing fluid on the impeller and stator to obtain various gear ratios. The torque converters run quietly and helps to achieve fuel efficiency, as the gear lag is reduced due to the absence of manual gear changing. Rising demand for comfort has led to developments in automatic transmissions and continuously variable transmission (CVT), thus leading to the demand for torque converters. The torque converter requires low maintenance and less frequency of refilling of transmission fluid, as it is a sealed unit. Regulations and mandates by governments on pollution have prompted manufacturers to develop fuel-saving technologies. The usage of torque converter improves fuel combustion by obtaining optimal torque ratios. The torque converter market for automotive is projected to expand due to the rise in demand for fuel-saving technologies. The torque converter developed by Nissan Motor Corporation reduces the transmission time by 30%, thus offering a smoother ride and reduced fuel consumption. Moreover, the torque converter market for Automotive is estimated to expand owing to the rise in consumer demand for better ride handling and comfort.
The torque converter is more expensive than the conventional gearbox, as it is an advanced technology. The torque converter with its components such as turbine, impeller, and stator having blades offer less opportunity to repair as it is a sealed unit.
Global Torque Converter Market for Automotive: Key Segments
The global torque converter market for automotive can be segmented based on transmission type, component type, vehicle type, sales channel, and geography. Based on transmission type, the torque converter market for Automotive can be segregated into three categories. Rise in production of automatic vehicles in North America offer significant potential for the torque converter market for Automotive. Increase in the number of commercial vehicles integrated with CVT technology is likely to boost the demand of torque converters.
By component type, the torque converter market for Automotive can be classified into five segments. The market for components of the torque converter is estimated to increase with increase in demand of torque converter. There is continuous research and development taking place over the different components of the torque converter. This lead to the development of advanced and reliable components.
In terms of vehicle type, the torque converter market for Automotive can be classified into three categories. The passenger cars segment holds a major share of the torque convertor market due to the high rate of adoption of automatic transmission in passenger cars and the increase in production of passenger cars.
Based on sales channel, the torque converter market for Automotive can be segregated into two types. The OEM segment holds a major share of the market owing to the increase in vehicle production.
In terms of geography, the torque converter market for Automotive can be segmented into five regions. Europe and North America are prominent market for the torque converter owing to their better socio-economic factors leading to adopt automatic transmission. Europe and North American countries are technological advanced and economically strong. Owing to this demand for sophisticated and assisting technologies is high in these regions. These regions adopt to the new technology comparatively at faster rate.
Global Torque Converter Market for Automotive: Key Players
Key players operating in the global torque convertor market for Automotive include BorgWarner Inc., Schaeffler AG, ZF Friedrichshafen AG, Valeo, AISIN, Allison Transmission Inc., Sonnax Industries, Inc., Yutaka Giken Company Limited, and Valeo Kapec Co, Ltd.
BorgWarner developed a torque converter with high thermal capacity and high torque lock up for usage in heavy commercial vehicles. Schaeffler’s integrated torque converter, iTC, utilizes a lock up clutch housed inside the torque converter in order to reduce weight and generate small axial design to improve performance.
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