Torque Converter Market Outlook 2027 –
Torque converter is a device that act as a link between the transmission and the engine, allowing a vehicle engine to spin separately from the transmission. Manufacturers are inclining toward optimizing torque converters to enhance its technology. Also, to increase its operating efficiency by reducing weight and size of torque converter. These processes include better lock up range, automated manufacturing processes, and others. The torque converter in an automatic transmission that serves a purpose similar to a clutch in a manual transmission. This leads to the growth of the torque converter market in near future.
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Companies covered: EXEDY Corporation, Schaeffler Technologies AG & Co. KG, Yutaka Giken Company Limited, ZF Friedrichshafen AG, Dynamic Manufacturing, Precision Industries, Sonnax Industries Inc., Transtar Industries Inc., ACC Performance Products Plus, and Stewart & Stevenson
COVID-19 SCENARIO ANALYSIS
COVID-19 pandemic has impacted torque converter market due to the reduced demand of automobile sector.
More population results in more demand of vehicles but due to covid-19 there is no demand of torque converters.
Original equipment manufacturers (OEMs) have also halted production, which has further decreased demand of torque converter market.
The continuous COVID-19 outbreak has unfavorably influenced the showcase business and impacted the growth of torque converter market.
COVID-19 outbreak has influenced the producers suspending their assembling activities.
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Top impacting factors: Market scenario analysis, trends, drivers and impact analysis
The significant factors impacting the growth of the torque converter market are growing demand for passenger cars and luxury vehicles and advancements in power trains. However, technical issues associated with torque and certain difficulties like vehicle shaking and transmission slippages hampers the growth of automotive torque converter market. On the other hand, growth in the automobile sector and help in easy driving fuel the growth of the torque converter market.
Growth in the demand for passenger cars and luxury vehicles
Growth in the demand for the passenger cars and luxurious vehicles has resulted in increase in deployment of the dual clutch and automation transmission system. The deployment of these systems resulted in effortless driving. Thus, high demand of such advanced systems resulted in the growth of the torque converter market in near future.
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Advancements in power trains
One of the major factors driving the growth of the torque converter market is recent advancements made in powertrain mechanism. Powertrain consists of transmission engine to run the power to the vehicle. Such advancements lead to the growth of the market in near future.
Key benefits of the report:
This study presents the analytical depiction of the market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of torque converter market share.
The current market is analyzed from 2020 to 2027 to highlight the market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed torque converter market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions answered in the torque converter market research report:
Which are the leading market players active in the market?
What are the current trends that will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What are the projections for the future that would help in taking further strategic steps?
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