Torque Vectoring Market Size, Opportunities, Industry Analysis By Top Leaders, Development Strategy and Trends by Forecast 2023

13/gen/2020 12:30:26 Automotive Market Research Reports Contatta l'autore

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The global torque vectoring market is anticipated to surpass a valuation of USD 9.20 billion, attaining an impactful CAGR of 12% during the forecast period (2018-2023), Market Research Future (MRFR) reveals in a detailed analysis. Torque vectoring plays an important role in harnessing and sourcing wheel power. By enhancing stability, handling, performance, and grip, torque vectoring provides more controlling access to a car’s driver. Drivers can control the torque of a certain axle or wheel depending on their requirements. It also includes speed controlling, which helps to shift the car weight to the desired wheel, thus allowing a better grip.

Market Potential and Pitfalls

The global torque vectoring market has witnessed a tectonic surge over the past few years. The market is all set to steer forward due to the soaring demand for high-performance and luxury vehicles, equipped with safety stipulations. Technological brilliance is opening new avenues to work on, which can spur the growth of the market in the coming years. Moreover, electric cars and concept cars are predicted to launch in the coming years, thereby propelling the market growth across the globe.

On the contrary, the production cycle of torque vectoring is quite lengthy, which can deter its growth across the globe.

Torque Vectoring Market: Segmental Analysis

The global torque vectoring market is segmented on the basis of propulsion, vehicle type, electric vehicle (EV) type, clutch actuation type, and technology.

By vehicle type, the torque vectoring market is segmented into light commercial vehicle and passenger car. Of these, the passenger car segment occupies the maximum share.

By propulsion, the torque vectoring market is segmented into rear wheel drive, front wheel drive, and all/four-wheel drive. Of these, the front wheel drive segment is predicted to dominate the market in the foreseeable future.

By clutch actuation type, the market is segmented into hydraulic and electronic. While hydraulic has the maximum market value, the electronic segment is showing better potential growth-wise.

By EV, the market comprises hybrid electric vehicle (HEV) and battery electric vehicle (BEV). Of these, BEV is spearheading the segment. On the other hand, HEV can exhibit the fastest growth rate in the long run.

By technology, the market is segmented into passive torque vector system and active torque vector system. Among these, the passive torque vector system shows greater control over the market. Active torque vector, on the other hand, will record the fastest CAGR.

Regional Frontiers

Geographically, the torque vectoring market spans across Europe, America, Asia Pacific, and the Middle East & Africa.

Considering the global scenario, America is likely to dominate the global market as the region has a superior infrastructure, and its zonal technological brilliance is unparalleled.

Europe is considered the fastest evolving region in the global market. The region is house to multiple automobile market behemoths, due to which the torque vectoring market is gaining prominence. Investments made for R&D is quite substantial, which further triggers the demand from the market.

The Asia Pacific has a quite lot of business potential, which has further lured in market giants. The sudden growth in disposable income of the people and the booming automobile sector are likely to produce an unprecedented number of cars, which can assist in the torque vectoring market gain momentum.

Competitive Dashboard

The players dominating the global torque vectoring market include American Axle (US), GKN (UK), BorgWarner (US), Dana (US), ZF (Germany), Eaton (Ireland), Getrag (Canada), JTEKT (Japan), Univance (Germany), Bosch (Germany), Timken (US), Schaeffler (Germany), Oerlikon Graziano (Italy), Ricardo (UK), Continental AG (Germany), and others.

 

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