DUBLIN--(BUSINESS WIRE)--The "Global Automotive Torque Converter Market - Segmented by Type, End-user, Vehicle Type, and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global market for torque converters is expected to grow at a CAGR of 5.45% during the forecast period.
There are four components inside the torque converter- pump, turbine, stator, and transmission fluid. The one factor that is key to the torque converter's ability to multiply torque lies in the capacity of the stator.
The growth of the automatic transmission market will be driven by the rising demand for driver assistance systems, along with the increased use of electronics in the vehicle, and this will further augment the demand for torque converters. The increased concern for vehicle safety, especially in the heavily congested traffic of Asia-Pacific roads, will also help to significantly maneuver the demand for automatic transmission in the global market.
North America was estimated to have the largest revenue share in the market in 2017 and is expected to continue to do so by the end of 2023. A major challenge for the market is the high labor cost associated with the replacement market. The prospects for growth of the torque converter market in America will be significantly affected by the increased adoption of automatic transmissions in heavy-duty and medium trucks.
- Precision Torque Converters
Key Topics Covered:
2. Executive Summary
3. Market Overview and Technology Trends
4. Market Dynamics
5. Global Automotive Torque Converter Market, By Transmission Type
6. Global Automotive Torque Converter Market, By End Consumers
7. Global Automotive Torque Converter Market, By Vehicle Type
8. Global Automotive Torque Converter Market, By Geography
9. Competitive Landscape
10. Company Profiles
11. Outlook of the Market
For more information about this report visit https://www.researchandmarkets.com/research/7jqlb8/global_automotive?w=4