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The torque converter market size is forecast to increase by USD 3.97 billion at a CAGR of 6.8% between 2023 and 2028. The torque converter market is experiencing significant growth due to the globalization of the automotive industry, leading to increased demand for automatic transmission vehicles, particularly in the Asia-Pacific region. Advanced technologies, such as tilted blades and fluid coupling, are enhancing torque converter performance and efficiency. However, the high replacement and repair costs associated with these technologies pose a challenge to market growth. Power sources, including the impeller, turbine, and stator, work in unison to transmit power from the engine to the transmission shaft via the torque converter. The use of transmission fluid ensures smooth operation and cooling of the converter. Clutch engagement and disengagement are crucial functions facilitated by the torque converter, enabling seamless power transfer between the engine and transmission. Overall, the market is driven by the global automotive industry's expansion and technological advancements in torque converter designs, despite the challenges posed by high replacement and repair costs.
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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