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The automotive torque converter market size is estimated to grow by USD 1.26 billion at a CAGR of 4.5% between 2023 and 2028. The globalization of the automobile industry has significantly impacted the Asia Pacific region, leading to an increased demand for automatic transmission vehicles. This trend is driven by several factors, including the rising demand for automatic transmission systems and the growing preference for fuel-efficient vehicles. Automatic transmissions offer smoother driving experiences and improved fuel economy, making them increasingly popular among consumers in the APAC market. As a result, automakers are investing heavily in research and development to produce more efficient and cost-effective automatic transmission systems. This shift towards automatic transmissions is expected to continue, as consumers in the region seek more convenient and eco-friendly driving options. In summary, the globalization of the auto industry, coupled with the increasing demand for fuel-efficient vehicles, is driving the growth of automatic transmission systems in the Asia Pacific market.
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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