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Automotive Torque Converter Market Trends

  • Report ID: GMI10976
  • Published Date: Aug 2024
  • Report Format: PDF

Automotive Torque Converter Market Trends

The automotive torque converter industry is experiencing a shift towards more advanced technologies, such as the integration of torque converters with advanced transmission systems. Manufacturers are increasingly focusing on developing high-performance torque converters with features like adaptive torque control and enhanced efficiency to meet the growing demand for smoother and more responsive driving experiences. For instance, in October 2023, Mahindra announced that the facelifted XUV300 will feature a new 6-speed torque converter automatic transmission from Aisin. This upgrade is expected to significantly improve the driving experience, offering smoother and more responsive performance.
 

There is a notable trend towards the development of torque converters designed specifically for electric and hybrid vehicles. As the automotive industry transitions towards electrification, torque converters are being adapted to work with hybrid powertrains and electric drivetrains. This includes innovations such as torque converters that can seamlessly integrate with electric motors and hybrid systems to optimize performance and efficiency, reflecting the broader shift towards sustainable and efficient vehicle technologies.
 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of automotive torque converter reached USD 6.2 billion in 2023 and is set to register 5% CAGR between 2024 and 2032, led by rising disposable incomes, urbanization, and increased vehicle ownership.

The OEMs segment held over 78% of the market share in 2023, attributed to the increasing integration of advanced torque converters in new vehicle models.

Asia Pacific market accounted for 38% revenue share in 2023, due to its expansive automotive manufacturing base and surging vehicle demand.

ZF Friedrichshafen AG, Aisin Seiki Corporation, BorgWarner Inc., Continental AG, Valeo Group, Schaeffler Technologies AG & Co., Delphi Technologies, and Voith GmbH & Co.

Automotive Torque Converter Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 320
  • Countries covered: 25
  • Pages: 270
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