• Cat-intel
  • MedIntelliX
  • Consulting
  • Resources
  • About Us
  • News
  • Careers
  • Contact Us
  • Login
    • Request Free Sample ×
    Automotive Torque Converter Market Research Report — Global Forecast till 2034 Infographic

    Kindly complete the form below to receive a free sample of this Report

    Leading companies partner with us for data-driven Insights

    clients tt-cursor

    Torque Converter Market

    ID: MRFR/AM/3443-HCR
    128 Pages
    Sejal Akre
    September 2025

    Automotive Torque Converter Market Research Report By Converter Type (Mechanical Torque Converters, Hydraulic Torque Converters, Electromagnetic Torque Converters), By Vehicle Type (Passenger Cars, Commercial Vehicles, Off-Highway Vehicles), By Transmission Type (Automatic Transmissions, Semi-Automatic Transmissions, Continuously Variable Transmissions), By OEM (Major OEMs, Tier 1 OEMs) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2034

    Share:
    Download PDF ×

    We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

    Automotive Torque Converter Market Research Report — Global Forecast till 2034 Infographic
    Purchase Options
    $ 4,950.0
    $ 5,950.0
    $ 7,250.0
    Compare License
    Summary Table of Contents Segmentation Infographic

    Torque Converter Market Summary

    The Global Automotive Torque Converter Market is projected to grow from 16.2 USD Billion in 2024 to 23.5 USD Billion by 2035.

    Key Market Trends & Highlights

    Automotive Torque Converter Key Trends and Highlights

    • The market is expected to experience a compound annual growth rate (CAGR) of 3.44% from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 23.5 USD Billion, indicating robust growth potential.
    • In 2024, the market is valued at 16.2 USD Billion, reflecting a solid foundation for future expansion.
    • Growing adoption of advanced transmission technologies due to increasing demand for fuel efficiency is a major market driver.

    Market Size & Forecast

    2024 Market Size 16.2 (USD Billion)
    2035 Market Size 23.5 (USD Billion)
    CAGR (2025-2035) 3.44%

    Major Players

    ZF Friedrichshafen AG, Aisin Seiki Co., Ltd., Mitsubishi Electric, Showa Corporation, Eaton Corporation, Schaeffler, Allison Transmission, GKN Driveline International, LuK, NTN Corporation, Jatco, Denso Corporation, Tenneco, BorgWarner

    Torque Converter Market Trends

    The Automotive Torque Converter Market is poised for continued growth in the coming years, driven by several key factors. One of the primary drivers is the increasing demand for automatic transmissions in vehicles, as they offer greater comfort and convenience to drivers, particularly in urban environments with heavy traffic. Additionally, the growing popularity of electric vehicles is expected to further fuel the market, as torque converters play a crucial role in bridging the gap between the electric motor and the transmission.

    Market opportunities lie in the development of advanced torque converters that can improve fuel efficiency and performance. Manufacturers are exploring innovative designs and materials to reduce friction and optimize torque transfer. Furthermore, the integration of electronic controls and sensors into torque converters enables real-time monitoring and adjustment of performance parameters. These advancements cater to the evolving demands of the automotive industry for greater efficiency, reliability, and driver experience.

    Recent trends in the automotive torque converter market include the adoption of lock-up clutches, which engage directly with the transmission to improve fuel economy. Additionally, the use of multi-stage torque converters is gaining traction, as they offer a wider range of torque multiplication and smoother shifting. Innovations in materials and manufacturing processes are also contributing to the development of lighter and more compact torque converters, reducing vehicle weight and improving performance.

    The ongoing evolution of automotive technologies appears to drive a notable shift towards more efficient torque converter designs, reflecting a broader trend in the industry towards enhanced fuel economy and reduced emissions.

    U.S. Department of Energy

    Torque Converter Market Drivers

    Rising Demand for Fuel Efficiency

    The Global Automotive Torque Converter Market Industry experiences a notable surge in demand for fuel-efficient vehicles. As consumers become increasingly conscious of fuel costs and environmental impacts, manufacturers are compelled to innovate. Torque converters play a crucial role in enhancing fuel efficiency by optimizing engine performance. This trend is reflected in the projected market value of 16.2 USD Billion in 2024, as automakers integrate advanced torque converter technologies to meet consumer expectations. The emphasis on fuel efficiency is likely to drive the market further, as the automotive industry aims to comply with stringent emissions regulations.

    Market Segment Insights

    Automotive Torque Converter Market Converter Type Insights

    The Automotive Torque Converter Market has been segmented by Converter Type into Mechanical Torque Converters, Hydraulic Torque Converters, and Electromagnetic Torque Converters, which collectively contribute to the total market value. In 2023, the market was valued at 15.11 USD Billion, with significant portions attributed to each converter type.

    Mechanical Torque Converters accounted for a value of 5.0 USD Billion in 2023 and are projected to grow to 6.7 USD Billion by 2032, reflecting their status as a substantial contributor due to their simplicity, robustness, and widespread use in various automotive applications.Hydraulic Torque Converters represent the largest segment, with a 2023 valuation of 7.0 USD Billion expected to rise to 9.2 USD Billion by 2032.

    Their dominance can be attributed to their ability to efficiently transfer torque and provide improved performance in automatic transmissions, making them essential for modern vehicles. Electromagnetic Torque Converters, valued at 3.11 USD Billion in 2023, are projected to reach 4.6 USD Billion by 2032, although they hold a smaller share in comparison to the other types. Their importance lies in their advanced technology and efficiency in specific applications, particularly in hybrid and electric vehicles, offering unique advantages like reduced power loss and improved responsiveness.

    The Automotive Torque Converter Market statistics reflect the ongoing demand for these technologies, with trends indicating a shift towards more efficient and seamless operation in automotive applications. Growth drivers include the increasing production of automatic vehicles and the rising consumer preference for enhanced driving experiences, while challenges may arise from the need for continual innovation and compliance with strict environmental regulations. Furthermore, opportunities exist in leveraging advancements in technology to create torque converters that better suit the evolving landscape of electric and hybrid vehicles, thereby expanding their application scope and market reach.

    As represented in the Automotive Torque Converter Market revenue, the segmentation across Converter Type reveals crucial insights into consumer preferences and industry trends that are shaping the future of automotive drivetrains.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Automotive Torque Converter Market Vehicle Type Insights

    Vehicle type segmentation plays a crucial role in the market dynamics, encompassing categories such as Passenger Cars, Commercial Vehicles and Off-Highway Vehicles. Passenger Cars represent a major portion of the market as they are widely used and are pivotal in daily commuting and transportation, driving demand for efficient torque converters. Commercial Vehicles also hold a significant market presence due to their reliance on torque converters for performance and fuel efficiency in the logistics and transportation sectors.

    In addition, Off-Highway Vehicles, while a smaller segment, are becoming increasingly vital due to their applications in construction, mining, and agriculture, underscoring the need for robust torque converter solutions. The demand for advanced torque converters in these vehicle types is fueled by the growing emphasis on fuel efficiency, innovation in-vehicle technologies, and enhanced performance requirements, contributing to the overall growth of the Automotive Torque Converter Market revenue.

    Automotive Torque Converter Market Transmission Type Insights

    The Automotive Torque Converter Market is primarily segmented by Transmission Type, which plays a crucial role in the overall performance and efficiency of vehicles. Automatic Transmissions dominate this segment due to their ease of use and increased adoption in passenger vehicles, offering smooth gear transitions and improved driving comfort. Semi-Automatic Transmissions present significant opportunities for performance-oriented drivers seeking better control without the full complexity of manual systems.

    Continuously Variable Transmissions (CVT), known for their ability to provide optimal engine performance and fuel economy, are gaining traction, especially in hybrid and electric vehicles. The continuous shift in market preferences towards more efficient and user-friendly vehicles underscores the importance of these transmission types in driving the Automotive Torque Converter Market revenue. As such, trends supporting the shift towards automation in vehicles and the pursuit of enhanced fuel efficiency create further growth opportunities, while challenges in consumer perception and technology adoption continue to shape the market dynamics.

    Automotive Torque Converter Market OEM Insights

    The Automotive Torque Converter Market, particularly within the OEM segment, is poised for notable growth as it capitalizes on evolving automotive technologies and increasing demand for efficient transmission systems. As the market progresses toward 2032, a steady growth trajectory is anticipated, bolstered by the increasing adoption of hybrid and electric vehicles that utilize advanced torque converter designs.Major OEMs play a crucial role in this landscape, driving innovation and meeting the needs of modern consumers with a focus on performance and efficiency.

    Tier 1 OEMs, through their strong relationships with automobile manufacturers, dominate the supply chain by providing high-quality components, thus ensuring reliability and enhanced vehicle performance. The growing emphasis on fuel efficiency and the integration of automatic transmission systems present significant opportunities for these OEMs. However, challenges such as fluctuating raw material prices and stringent regulatory standards in various regions could impact market dynamics. Overall, the Automotive Torque Converter Market statistics highlight the necessity for OEMs to adapt swiftly to technological advancements and evolving consumer preferences to maintain competitive advantage.

    Get more detailed insights about Automotive Torque Converter Market Research Report — Global Forecast till 2034

    Request Free Sample

    Regional Insights

    The Automotive Torque Converter Market revenue is showing significant growth across its regional divisions. In 2023, North America leads with a valuation of 5.0 USD Billion, projected to increase to 6.5 USD Billion by 2032, dominating the market due to its strong automotive industry and technological advancements. Europe follows closely, valued at 4.0 USD Billion in 2023, and is expected to reach 5.0 USD Billion by 2032, reflecting its mature automotive sector and rising demand for fuel-efficient vehicles.

    The Asia Pacific region accounts for 4.0 USD Billion in 2023 and is projected to grow to 5.8 USD Billion by 2032, driven by its expansive manufacturing capabilities and increasing vehicle production.

    South America, while smaller, contributes with a valuation of 1.0 USD Billion in 2023, expected to rise to 1.3 USD Billion by 2032, indicating gradual market growth in emerging economies. Lastly, the Middle East and Africa stand at 1.11 USD Billion in 2023, aiming for 1.9 USD Billion by 2032, showing potential for future development as automotive markets evolve in the region. Overall, the Automotive Torque Converter Market statistics reveal opportunities for expansion driven by regional strengths and automotive demands.

    Automotive Torque Converter Market Regional Insights

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Key Players and Competitive Insights

    Major players in Automotive Torque Converter Market industry are constantly striving to gain a competitive edge in the market. Leading Automotive Torque Converter Market players are focusing on developing innovative products, expanding their production capacities, and strengthening their distribution networks. Automotive Torque Converter Market development is driven by the increasing demand for fuel-efficient and performance-oriented vehicles. The competitive landscape of the Automotive Torque Converter Market is characterized by the presence of both established and emerging players.ZF Friedrichshafen AG is a global leader in the Automotive Torque Converter Market industry.

    The company offers a wide range of torque converters for various types of vehicles, including passenger cars, commercial vehicles, and off-highway vehicles. ZF Friedrichshafen AG has a strong presence in Europe, North America, and Asia-Pacific.

    The company is known for its innovative products and advanced manufacturing capabilities. Aisin Seiki Co., Ltd. is another major player in the Automotive Torque Converter Market industry. The company is headquartered in Japan and has a global presence. Aisin Seiki Co., Ltd. offers a wide range of torque converters for various types of vehicles, including passenger cars, commercial vehicles, and industrial machinery. The company is known for its high-quality products and strong customer service.

    Key Companies in the Torque Converter Market market include

    Industry Developments

    • Q2 2024: ZF Expands North American Production with New Facility for Next-Generation Torque Converters ZF Friedrichshafen AG announced the opening of a new manufacturing facility in Gray Court, South Carolina, dedicated to producing next-generation torque converters for hybrid and automatic transmissions, aiming to meet growing demand from North American automakers.
    • Q1 2024: BorgWarner Completes Acquisition of Santroll Automotive Components’ Torque Converter Business BorgWarner finalized its acquisition of Santroll Automotive Components’ torque converter division, strengthening its position in the global automatic transmission market and expanding its product portfolio for hybrid and electric vehicles.
    • Q3 2024: Valeo and Hyundai Motor Company Announce Strategic Partnership for Advanced Torque Converter Development Valeo and Hyundai Motor Company entered a multi-year partnership to co-develop advanced torque converters for next-generation hybrid vehicles, focusing on improved efficiency and reduced emissions.
    • Q2 2024: Allison Transmission Secures Major Contract to Supply Torque Converters for U.S. Army Tactical Vehicles Allison Transmission was awarded a multi-year contract by the U.S. Department of Defense to supply heavy-duty torque converters for tactical vehicle fleets, supporting military modernization efforts.
    • Q4 2024: Toyota Launches New Generation Torque Converter for Hybrid SUVs in Japan Toyota Motor Corporation unveiled a new generation of torque converters designed for its hybrid SUV lineup, featuring enhanced fuel efficiency and smoother power delivery, with production commencing at its Aichi plant.
    • Q1 2025: Jatco Appoints New CEO to Drive Global Expansion of Torque Converter Business Jatco Ltd. announced the appointment of Hiroshi Shimizu as its new CEO, with a mandate to accelerate global growth in the torque converter segment, particularly in emerging markets.
    • Q2 2025: Aisin Corporation Opens R&D Center Focused on Electrified Torque Converter Technologies Aisin Corporation inaugurated a new research and development center in Nagoya, Japan, dedicated to advancing torque converter technologies for hybrid and plug-in hybrid vehicles.
    • Q3 2024: Magna International Signs Supply Agreement with Stellantis for Next-Gen Torque Converters Magna International entered into a long-term supply agreement with Stellantis to provide next-generation torque converters for use in upcoming hybrid and automatic transmission models across multiple brands.
    • Q2 2024: Schaeffler Launches Modular Torque Converter Platform for Global OEMs Schaeffler AG introduced a modular torque converter platform designed to offer greater flexibility and efficiency for global automotive OEMs, with initial deliveries scheduled for late 2024.
    • Q4 2024: Exedy Corporation Announces Expansion of Torque Converter Production in Thailand Exedy Corporation revealed plans to expand its torque converter manufacturing capacity at its Thailand facility to meet rising demand from Southeast Asian automakers.
    • Q1 2025: General Motors Invests $150 Million in Toledo Plant for Advanced Torque Converter Production General Motors announced a $150 million investment in its Toledo, Ohio, transmission plant to upgrade production lines for advanced torque converters used in hybrid and electric vehicles.
    • Q2 2025: Hyundai Transys Wins Major Contract to Supply Torque Converters for European EV Manufacturer Hyundai Transys secured a significant contract to supply torque converters for a leading European electric vehicle manufacturer, marking its entry into the European EV drivetrain market.

    Future Outlook

    Torque Converter Market Future Outlook

    The Automotive Torque Converter Market is projected to grow at a 3.44% CAGR from 2024 to 2035, driven by advancements in fuel efficiency, increasing vehicle production, and the shift towards automatic transmissions.

    New opportunities lie in:

    • Develop lightweight torque converters to enhance fuel efficiency and performance.
    • Invest in electric vehicle-compatible torque converter technologies for emerging markets.
    • Leverage smart manufacturing techniques to reduce production costs and improve quality.

    By 2035, the market is expected to exhibit robust growth, reflecting evolving automotive technologies and consumer preferences.

    Market Segmentation

    Automotive Torque Converter Market OEM Outlook

    • Major OEMs
    • Tier 1 OEMs

    Automotive Torque Converter Market Regional Outlook

    • North America
    • Europe
    • South America
    • Asia Pacific
    • Middle East and Africa

    Automotive Torque Converter Market Vehicle Type Outlook

    • Passenger Cars
    • Commercial Vehicles
    • Off-Highway Vehicles

    Automotive Torque Converter Market Converter Type Outlook

    • Mechanical Torque Converters
    • Hydraulic Torque Converters
    • Electromagnetic Torque Converters

    Automotive Torque Converter Market Transmission Type Outlook

    • Automatic Transmissions
    • Semi-Automatic Transmissions
    • Continuously Variable Transmissions

    Report Scope

    Attribute/Metric Details
    Market Size 2024   16.17 (USD Billion)
    Market Size 2025   16.73 (USD Billion)
    Market Size 2034    22.68 (USD Billion)
    Compound Annual Growth Rate (CAGR)      3.44% (2025 - 2034)
    Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Base Year 2024
    Market Forecast Period 2025 - 2034
    Historical Data 2019 - 2023
    Market Forecast Units USD Billion
    Key Companies Profiled Mitsubishi Electric, Showa Corporation, Eaton Corporation, Schaeffler, Allison Transmission, GKN Driveline International, LuK, NTN Corporation, Aisin Seiki, Jatco, ZF Friedrichshafen, Denso Corporation, Tenneco, BorgWarner
    Segments Covered Converter Type,  Vehicle Type, Transmission Type, OEM, Regional
    Key Market Opportunities 1.       Electrification of powertrains 2.       Growing demand for automatic transmissions 3.       Stringent emission norms 4.       Increasing adoption of SUVs and crossovers 5.       Advancements in torque converter technology
    Key Market Dynamics 1.       Increasing Demand for Automatic Transmissions 2.       Growing Popularity of Electric Vehicles 3.       Advancements in Transmission Technology 4.       Stringent Emission Regulations Focus on Fuel Efficiency
    Countries Covered North America, Europe, APAC, South America, MEA

    Market Highlights

    Author
    Sejal Akre
    Senior Research Analyst

    She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. Hands on expertise in management consulting, and extensive knowledge in domain including ICT, Automotive & Transportation and Aerospace & Defense. She is skilled in Go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.

    Get In Touch
    Leave a Comment

    FAQs

    What is the expected market size of the Automotive Torque Converter Market in 2034?

    The Automotive Torque Converter Market is expected to be valued at 22.68 USD Billion in 2034.

    What is the projected CAGR for the Automotive Torque Converter Market from 2025 to 2034?

    The expected CAGR for the Automotive Torque Converter Market during the period from 2025 to 2034 is 3.44%.

    Which region is anticipated to hold the largest market share in 2032?

    North America is projected to maintain the largest market share, valued at 6.5 USD Billion in 2032.

    What will be the market size of Hydraulic Torque Converters in 2032?

    Hydraulic Torque Converters are expected to be valued at 9.2 USD Billion in 2032.

    Who are the key players in the Automotive Torque Converter Market?

    Major players in the market include Mitsubishi Electric, Schaeffler, and BorgWarner among others.

    What is the market value of Mechanical Torque Converters in 2023?

    Mechanical Torque Converters will be valued at 5.0 USD Billion in 2023.

    What will be the market size for Electromagnetic Torque Converters by 2032?

    Electromagnetic Torque Converters are expected to reach a market value of 4.6 USD Billion in 2032.

    How is the market size of the Asia Pacific region expected to change from 2023 to 2032?

    The Asia Pacific region is expected to grow from 4.0 USD Billion in 2023 to 5.8 USD Billion in 2032.

    What major trends are driving the growth of the Automotive Torque Converter Market?

    Key growth drivers include advancements in automotive technology and increasing demand for fuel-efficient vehicles.

    What is the expected market value for the South America region in 2032?

    South America is projected to have a market value of 1.3 USD Billion in 2032.

    Automotive Torque Converter Market Research Report — Global Forecast till 2034 Infographic
    Free Sample Request

    Kindly complete the form below to receive a free sample of this Report

    No regional reports available for this market.

    Customer Strories

    “I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.”

    Victoria Milne Founder
    Case Study

    Chemicals and Materials

    Global Magnesium Sulfate Market – Forecast till 2027