torque vectoring is expected to gain an unprecedented volume of USD 9.20 Billion by 2023 with a CAGR of 12%

02/dic/2019 11:54:58 Automotive Market Research Reports Contatta l'autore

torque vectoring plays a fundamental role in sourcing and harnessing wheel power. The global torque vectoring market depends on this factor significantly and based on this, it could expect an impactful growth of 12% CAGR during the forecast period (2018-2023), reveals Market Research Future (MRFR) in an extensively studied report. The study further states that the torque vectoring market can double its market valuation by reaching USD 9.20 Bn by 2023 than the past.

Market Competitors

The foremost players in the torque vectoring market are listed as JTEKT (Japan), Dana (US), BorgWarner (US), Continental AG (Germany), American Axle (US), ZF (Germany), Univance (Germany), GKN (UK), Getrag (Canada), Bosch (Germany), Oerlikon Graziano (Italy), Eaton (Ireland), Timken (US), Ricardo (UK), Schaeffler (Germany), and to name a few.

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Market Drivers & Challenges

The ability of torque vectoring such as stability, grip, performance, and improving handling offers more controlling access to the car to the driver, which makes it accessible in the automotive industry. Besides, the rising demand for luxury and high-performance vehicles along with safety stipulations is driving the market’s growth in the coming years.

At the same time, the technological brilliance is also opening up avenues to work on which it can open up more growth opportunities of torque vectoring market in the coming years. These factors are also contributing to the market’s growth over the assessment period.

At the same time, electric cars, along with with concept cars, are also expected to launch innovation with which the market that can grow further with a higher valuation. Moving forward, torque vectoring works in two ways as inexpensive and straightforward way includes brake, and more complex one involves complicated active differential-based torque vectoring are also gaining more traction which drives the market well and will continue with the same during the forecast period.

On the downside, the production cycle of torque vectoring is relatively long, which can deter the torque vectoring market growth during its growth period. At the same time, mounting mobility services across countries can also put a restraint on the expected CAGR during the forecast period.

Market Segmentation

The torque vectoring market has been segmented by vehicle type, propulsion, clutch actuation type, electric vehicle type, and technology.

In terms of vehicle type: Passenger car and light commercial vehicle are the segments. Wherein, passenger car has the top market share, but the light commercial vehicle is the highest growing one.

In terms of propulsion: Front-wheel drive, rear-wheel drive, and all/four-wheel drive are the segments. Wherein, front-wheel drive segment is leading the market; though, rear-wheel can record the highest growth rate during the anticipated period.

In terms of clutch actuation type: Hydraulic and electronic are the segments. Wherein, hydraulic has the most market value at present, whereas, the electronic segment is viewing growth-wise better potential.

EV-wise: Battery electric vehicle (BEV) and hybrid electric vehicle (HEV) is the segments. Wherein, BEV is spearheading the segment, but HEV might display the fastest growth rate in the future.

Technology-based segmentation comprises of active torque vector system and passive torque vector system. Among these, the passive torque vector system has superior control over the market, whereas, dynamic torque vector system can evidence the fastest CAGR during the anticipated period.

Regional Framework

Region-specific scrutiny of the active torque vectoring system includes the key regions such as Americas, Europe, Asia Pacific, and the Middle East & Africa.

Among these, the Americas at present is leading the market. The region has the better-quality infrastructure, and zonal technological brilliance is beyond compare. These factors can be considered while assessing the market of the Americas.

Europe is the highest growing region. As the continent is the house of several automobile market behemoths and this is why torque vectoring is getting exceptional attention. Additionally, the investment made for research and development is moderately extensive, which is motivating the market growth.

The Asia Pacific region is quite significant, in terms of volume, and has many business potentials which have lured in market giants to invest more and bring in lucrative opportunities in the future.

 

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