P&S Intelligence published a new research report, titled, “Automotive Torque Converter Market: Global Industry Analysis and Forecast till 2024, (The global automotive torque converter market is expected to witness considerable growth in the coming years due to the increasing production of automobiles, growing demand for automatic transmission systems, and rising concerns regarding the safety in vehicles. Globally, vehicles with automatic transmission are gaining traction, as this form of transmission is more economical and safer than manual transmission. Thus, the growing demand for automatic transmission systems can be viewed as one of the key factors fueling the demand for torque converters, globally.).”
Globally, North America accounted for the largest share in the automotive torque converter market during the historical period, mainly due to the early adoption of AT and the high demand for premium vehicles in the region. Additionally, the market growth in the region is driven by the growing adoption of automatic transmission systems in medium and heavy-duty trucks. Besides, factors such as ease of driving, high fuel efficiency, and growing demand for comfort in vehicles are encouraging fleet owners to opt for automatic transmission in medium- and heavy-duty trucks. Moreover, owing to the rising disposable income of the people in the region, North America is anticipated to lead the global market during the forecast period as well.
Some of the key players operating in the global automotive torque converter market are Aisin Seiki Co. Ltd., BorgWarner Inc., Continental AG, Delphi Technologies, EXEDY Corporation, Isuzu Motors Limited, JATCO Ltd., Precision Industries, Schaeffler AG, Sonnax Transmission Company Inc., Transtar Industries Inc., Valeo SA, Voith GmbH & Co. KGaA, and ZF Friedrichshafen AG.
The report also provides country-wise market analysis. Some of the major countries covered in the report are the U.S., Canada, Mexico, Germany, the U.K., France, Japan, China, India, South Korea, Brazil, and the U.A.E.