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According to the recent market study by Technavio, the torque converter market size is expected to increase by USD 4.01 billion from 2021 to 2026, accelerating at a CAGR of 6.87% during the forecast period. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
APAC will register the highest growth, occupying about 36% of the global market share. China, Japan, and India are the key markets for torque converters in APAC. The market growth in APAC will be slower than the growth of the market in Europe, North America, and South America.
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Vendor Insights-
The torque converter market is fragmented due to the presence of several domestic and international players. Vendors are focusing on launching new and innovative products that cater to the ongoing technological developments in the…
