Global Torque Converter Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Vehicle Type;

Passenger Car and Commercial Vehicle.

By Hybrid Vehicle;

Hybrid Electric Vehicle (HEV) and Plug- In Hybrid Electric Vehicle (PHEV).

By Component;

Clutch plate, Damper, Impeller, Stator, Turbine and Others.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn461353296 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Torque Converter Market (USD Million), 2021 - 2031

In the year 2024, the Global Torque Converter Market was valued at USD 7,997.75 million. The size of this market is expected to increase to USD 12,105.31 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 6.1%.

The global torque converter market is integral to the automotive and machinery industries, serving as a critical component in automatic transmissions. A torque converter is designed to transfer and amplify engine torque to the transmission, facilitating smooth acceleration and gear changes. The market's growth is largely driven by the increasing demand for automatic transmissions in vehicles, which offer improved driving comfort and fuel efficiency compared to manual transmissions.

Technological advancements in torque converter design, such as the development of high-performance and fuel-efficient models, are propelling market expansion. Innovations include the integration of lock-up clutches and variable vane designs, which enhance torque transfer efficiency and reduce engine load. Additionally, the rise in electric and hybrid vehicles is shaping market dynamics, as manufacturers explore torque converter adaptations for these advanced powertrains.

Regional growth varies, with significant contributions from North America, Europe, and Asia-Pacific. In North America and Europe, the market is supported by high vehicle production and consumer preference for automatic transmissions. Meanwhile, the Asia-Pacific region, with its rapidly expanding automotive sector and increasing vehicle ownership, represents a substantial growth opportunity for torque converter manufacturers.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Vehicle Type
    2. Market Snapshot, By Hybrid Vehicle
    3. Market Snapshot, By Component
    4. Market Snapshot, By Region
  4. Global Torque Converter Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increasing demand for automatic transmissions
        2. Technological advancements (e.g., lock-up clutches, variable vane designs)
        3. Growth in electric and hybrid vehicles
      2. Restraints
        1. High manufacturing costs
        2. Complexity of design and integration
        3. Market saturation in mature regions
      3. Opportunities
        1. Expansion in electric and hybrid vehicle markets
        2. Innovations in torque converter technology
        3. Growth in automotive production in emerging markets
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry

  5. Market Segmentation
    1. Global Torque Converter Market, By Vehicle Type, 2021 - 2031 (USD Million)
      1. Passenger Car
      2. Commercial Vehicle
    2. Global Torque Converter Market, By Hybrid Vehicle, 2021 - 2031 (USD Million)
      1. Hybrid Electric Vehicle (HEV)
      2. Plug- In Hybrid Electric Vehicle (PHEV)
    3. Global Torque Converter Market, By Component, 2021 - 2031 (USD Million)
      1. Clutch plate
      2. Damper
      3. Impeller
      4. Stator
      5. Turbine
      6. Others
    4. Global Torque Converter Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia/New Zealand
        5. South Korea
        6. ASEAN
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Schaeffler
      2. ZF
      3. Aisin
      4. Valeo
      5. Kapec
  7. Analyst Views
  8. Future Outlook of the Market