High Rise in Global Torque Converter Market Value: Double-Digit CAGR Despite COVID 19 Outbreak | Forecast 2023

Covid-19 (CoronaVirus) Impact on Torque Converter Industry by battery Type (AT, CVT, and DCT), Component (Clutch Plate, Damper, Impeller, Turbine, and Stator), Vehicle (Passenger Car and Commercial Vehicle), and by Regions - Global Forecast To 2023

Market Research Future (MRFR), in its latest report on the worldwide Torque Converters market 2020reveals that the increase in need for Torque Converters devices across the booming automotive sector is expected to boost the expansion of the Torque Converter Market in the assessment period. MRFR analysis reveals that the expansion of the torque converter market is expected to rise at a high pace across the study period. The Torque Converter Market value is expected to surge by the end of the review period. The high degree of efficacy of torque converter to multiply the torque in case of a substantial difference between input and output of engine’s rotation can boost the expansion of the market through the review period. The ease offered by torque converter to allow the engine to spin to certain extent is expected to promote the expansion of the market in the assessment period.

and Sonnax Industries (US, ZF Friedrichshafen (Germany), Schaeffler (Germany), Aisin (Japan), Yutaka Giken (Japan), KAPEC (South Korea), Valeo S.A. (France), EXEDY (Japan), Transtar (US), and BorgWarner, Inc. (US) are some reputed names in the Torque Converter global market as enlisted by MRFR.

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Intended Audience
• Distributer & Supplier companies
• End-users
• Consultants and Investment bankers
• Government as well as Independent Regulatory Authorities

Product Analysis
• Product matrix which gives a detailed comparison of the market for different recycled product types

Additional Information
• Regulatory Landscape
• Pricing Analysis
• Macroeconomic Indicators

Geographic Analysis
• Geographical analysis across 15 countries

Company Information
• Profiling of 10 key market players
• In-depth analysis including SWOT analysis, and strategy information of related to report title
• Competitive landscape including emerging trends adopted by major companies

Market Segmentation

The segment evaluation of the torque converter market is based on component, type, and vehicle type.

The type based segments of the torque converter market are automatic transmission, dual-clutch transmission, and continuously variable transmission. The increase in demand for automatic transmission torque converters can promote the expansion of the market through the analysis period.

The vehicle type based segments of the torque converter market are passenger vehicle and commercial vehicle. The rise in the adoption of torque converter in commercial vehicle, followed by passenger cars can impel the expansion of the market through the review period.

The component based segments of the torque converter market are clutch plate, turbine, stator, impeller, and damper. The increase in torque converter installations can promote the expansion of the market through the analysis period.

Regional Analysis

The market for torque converter system in North America is driven by the gradual rise in the demand for commercial vehicles in the US, followed by Mexico. The surge in need for commercial vehicles enabled with torque converter systems is expected to boost the expansion of North America torque converter market in the years to come. In addition, the increase in number of manufacturers installing torque converters in heavy-duty trucks and medium-duty can improve the expansion of the torque converter market in the region. In Europe, the torque converter system can be driven by the existence of major car producers and their main focus on meeting the surge in the demand for commercial and passenger vehicles can prompt the expansion of the regional market in the years to come.

In APAC, the presence of top notch automobile manufactures can impel the expansion of the torque converter market through the study period. APAC torque converter market can also be driven by the rising demand for Torque Converter enabled cars. The market is likely to witness rapid rise due to surge in sales of passenger cars across emerging economies. In addition, major shift in customer preference and adoption of technological advancements solutions by these reputed players can boost the expansion of the regional market. The rise in popularity of Torque Converter systems and increase in their production threshold can also support the expansion of the regional market. As per MRFR analysis, the market in APAC is expected to thrive in the years to come and contribute significantly to the revenue generation for the global market.

Scope of Report

The report for Global Torque Converter Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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Name: Abhishek Sawant
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Organization: Market Research Future (MRFR)
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Website: https://www.marketresearchfuture.com/reports/torque-converter-market-4871

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