DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Automotive Torque Converter Market - Growth, Trends and Forecasts(2016 - 2021)" report to their offering.
The global market for torque convertor had a value of $5.2 billion by the end of 2015, and the market is expected to grow at a CAGR of 5.45% till the forecast period.
North America had the highest share in the market in 2015, and would continue to be so by the end of 2020. The major drawback in the market can be attributed to the high labour cost associated with the replacement market. The prospects for growth of the torque converter market in Americas would be significantly affected by the increased adoption of automatic transmissions in heavy-duty and medium trucks.
High fuel efficiency, ease and comfort of driving, low- driving skill requirements would compel the fleet owners to opt for an automatic transmission in heavy and medium-duty trucks as well as for end consumers in passenger vehicle segment.
In addition, increased adoption of automatic transmission in passenger vehicles, would drive the growth of the torque converter significantly for passenger vehicles during the forecast period.
- Precision Torque Converters
For more information about this report visit http://www.researchandmarkets.com/research/26nfj2/global_automotive