Global Torque Converters Market - 2019-2026
|扭力轉換器的全球市場 (2019∼2026年) Global Torque Converters Market - 2019-2026|
|出版日期: 按訂單生產||內容資訊: 英文||
Torque converters are a type of fluid coupling which capable of producing torque. This torque converters can transfers rotating power from prime movers like an internal combustion engine for driving the load. Torque converters have many advantages including high-efficiency, less-skill requirements, and helps to reduce accidents as well as provide ease in driving. Torque converter uses impeller, turbine and stator as link between the transmission and the engine to transmit, and multiply the twisting force by the engine crankshaft. Torque converter has wide range of applications including for automatic transmission systems in low, medium and heavy duty passenger vehicles, buses and trucks. Global torque converters market valued USD XX million in 2018 and it is expected to grow at a CAGR of XX% to reach USD XX million by 2026.
The market is driven by the rising demand automatic transmission system with increasing the sale and production of commercial, heavy duty and passenger vehicles around the globe. As the torque converter are extensively used in these vehicles to reduce the efforts and to increase the efficiency of transmission. According to the International Organization of Motor Vehicle Manufacturers (OICA) in 2019, the total number of passenger cars, and heavy trucks 67149196, 4142806 were produced in 2019 respectively.
There is a rise in the adoption of automatic transmission systems by leading companies and raising the investments by leading players to manufacture the advanced technology based torque converter in the vehicle. For instance, on 18th March 2020, Volkswagen T-Roc SUV with automatic transmission system has been launched In India. Furthermore on 3rd March 2020, Mercedes-Benz have been planned to launch 10 luxury cars in India.
The global Torque converters market is segmented based on transmission type, Component, Vehicle type, Distribution channel and region.
In terms of transmission type the global torque converters marker is bifurcated into CVT (continuously variable transmission), AMT (Automated manual Transmission) and DCT (Dual-Clutch Transmission). Among these, AMT (Automated manual Transmission) segment has the highest market share in 2019 owing to increasing the sale of automated manual transmission vehicles around the globe due rising the population specially in the low and middle income from developing countries. For instance in 2019 fiscal year the Company Maruti Suzuki had been sold more than 6 Lac cars with automated manual transmission In India
Similarly, CVT (continuously variable transmission), and DCT (Dual-Clutch Transmission) segments are also growing at faster pace owing to rising the global sale of hybrid and electric vehicles with surge in the people awareness of these vehicles. According to the International Energy Agency in 2019, global electric vehicle production has been reached to around 140 million vehicles excluding two and three-wheelers. This propels the CVT and DCT segmental growth which are used in these vehicles.
Depending on the component types, global torque converter market is divided into Clutch Plate, Damper, Impeller, Turbine and Stator. Among this, Clutch Plate segment has the highest share in 2019. This is primarily due to rising sale and production of vehicles which requires clutch plates in huge amount for torque transmission purpose. For instance the Company LuK manufacturers more than 2 million clutch as conventional torque converter annually for the automatic transmission market.
Similarly, Damper, Impeller, Turbine and Stator segments are also growing at faster pace due to surge in demand for electricity around the globe with surge in global population. Turbine, impellers, stators are used in the combination with generator for generating electrical power in various power plants around the globe. For instance on 3rd April 2019, globally 10 biggest power plants are under-construction in India & China to cope up the rising electricity demand. These plants have the total capacity of around 64.7GW which majority of are hydroelectric with contribution of 57%, thermal with 28% and nuclear with 15% capacity. Thus these plants require generators, impellers and turbines in huge amount which directly propels this segmental growth in developing countries.
Depending on the vehicles type, the global torque converters are segmented into Heavy Commercial vehicles (HCV), Passenger car, Light Commercial vehicles (LCV) and others. Among this, Passenger car segment has the highest market share in 2019. This growth is anticipated due rise in sale and production due to growing population demand for travelling around the gl0be. According to the International Organization of Motor Vehicle Manufacturers (OICA) in 2019, 64341693 units of the total number of passenger cars were sold around the globe.
Similarly, Heavy Commercial vehicles (HCV), Light Commercial vehicles (LCV) segment is also growing at faster pace owing to increase in the demand for transportation of goods with surge in global population and rising vehicles production. According to the International Organization of Motor Vehicle Manufacturers (OICA) in 2019, 27016764 numbers of units were sold which includes heavy trucks, light vehicles, buses and coaches around the globe.
Depending upon the distribution channel, the global torque converter market is divided into Aftermarket and Original equipment manufacturer (OEM). Among this, Original equipment manufacturer (OEM) has the highest share in 2019 owing to rising sale of automotive vehicles by OEMs around the globe.
Similarly, aftermarket segment is also growing at faster pace due to rising demand for maintenance, and repair of the automobile vehicles.
By region, the global Torque converters market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, Asia Pacific is the dominated region for the global torque converters market and expected to grow at the highest CAGR during the forecasted period due to presence of huge number of manufacturing facilities with surge in sale of automotive vehicles followed by North America region. As per the International Organization of Motor Vehicle Manufacturers (OICA) in 2019, in Asia Pacific and Middle East region the total number of commercial vehicles sold was around 8043351 numbers of units including light vehicles Heavy trucks, buses and coaches. This propels the demand for torque converter require for power transmission for manufacturing vehicles.
North America is the also growing at faster pace for the torque converters market, owing to rising consumer spending with rising production and sale of light commercial vehicles people in this region. According to the Center for Automotive Research in 2019, the total light vehicle production has been reached to 2.8 million units in the U.S. followed by Europe.
The global Torque converters market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. Hyundai, Luk, ZF , TATA, BorgWarner Aisin, Schaeffler, Mercedes-Benz, Valeo, Ford, EXEDY, Volkswagen Group and Toyota are the leading market players with significant market share.
Companies are entering into the collaborations, acquisitions, mergers, and licensing for increasing their market penetration. For instance, on 28th Jan 2020 BorgWarner has been planned to acquire Delphi Technologies for around USD 3.3 billion. This acquisition is to increase the production capacity of electric vehicles which requires the products like automatic transmissions, emissions technology and thermal control systems to improve engine and transmission efficiency.