According to Market Research Future (MRFR), the global torque vectoring market is estimated to reach a market value of USD 9.20 billion with an impactful 12% CAGR from 2018 to 2023 (forecast period). The report addresses and examines the effects of the COVID-19 outbreak on the global torque vectoring market, including future opportunities and threats, drivers, and risks.
Torque vectoring plays a crucial role in the sourcing and harnessing of wheel power. It gives the driver more control over access to the car by improving handling, stability, grip, and performance. Drivers can transfer or regulate the torque of a given wheel or axle according to their needs. It also includes speed control, which can transfer the weight of the car to the desired wheel and allow for a better grip. Based on the manufacturer, the torque vectoring can be of a different type, such as the front, rear, or all-wheel, and the system is still evolving with functional advances in the automotive industry.
Torque vectoring operates in two ways; the simple and inexpensive method requires brakes, but the more complex one involves complicated active differential-based torque vectoring. Increased demand for luxury and high-performance vehicles with safety requirements to be complied with is driving up the integrational need for torque vectoring. In addition, technological advancement is opening up opportunities to work on which can give growth of torque vectoring market a smooth ride in the near future. Simultaneously, electric cars, along with concept cars, are expected to introduce technologies with which the industry can expect to expand further. It does best to maintain synchronization between the performance, cost, and weight of the vehicle.
On the negative, its manufacturing cycle is very long, which can inhibit the market growth. Simultaneously, increasing mobility services across countries can put a leash on the projected CAGR during the forecast period.
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The global market for torque vectoring has been segmented into vehicle type, propulsion, clutch actuation type, electric vehicle (EV) type, and technology.
By vehicle type, the global torque vectoring market has been segmented into passenger car and light commercial vehicle. The passenger car has the maximum market share, but the light commercial vehicle is the fastest growing one.
By propulsion, the global torque vectoring market has been segmented into front wheel drive, rear wheel drive, and all/four-wheel drive. The front wheel drive segment is dominating the market; however, the rear wheel drive can record the fastest rate of growth during the forecast period.
Based on the clutch actuation type, the global torque vectoring market has been segmented into hydraulic and electronic. Hydraulic has the highest market value at present, whereas the electronic segment is showing growth-wise better potential.
Based on electric vehicle (EV) type, the global torque vectoring market has been segmented into battery electric vehicle (BEV) and hybrid electric vehicle (HEV). BEV is spearheading the segment, but HEV can show the fastest growth rate.
Based on technology, the global torque vectoring market has been segmented into active torque vector system and passive torque vector system. Among these, passive torque vector system has the major control over the market, but active torque vector system can record the fastest CAGR during the forecast period.
Region-specific analysis of the global torque vectoring system includes the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
The Americas, at present, is dominating the market. The region has a superior infrastructure, and zonal technological brilliance is unmatched. Such factors can be considered when evaluating the market in the Americas.
Europe is the fastest-growing region. The continent is home to several auto industry behemoths, which is why torque vectoring is gaining considerable attention. Moreover, the investment made in research and development is very substantial, stimulating the growth of the market.
The APAC region, in terms of volume, is vast and has a lot of business potential that has attracted market giants.
Major participants in the global torque vectoring market are GKN (UK), American Axle (US), Dana (US), Getrag (Canada), BorgWarner (US), Eaton (Ireland), JTEKT (Japan), Bosch (Germany), Univance (Germany), Schaeffler (Germany), ZF (Germany), Timken (US), Oerlikon Graziano (Italy), Ricardo (UK), Continental AG (Germany), and others.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.2 Scope Of The Study
2.3 Market Structure
2.4 Key Takeaways
2.5 Macro Factor Indicators Analysis
2.5.1 GDP (USD Million)
2.5.2 GNI Per Capita, Atlas Method (USD)
2.5.3 GDP Per Capita PPP (USD)
2.5.4 Macro Indicators Influencing The Torque Vectoring Market For Top 5 Countries
2.5.4. 5 U.K
2.6 Market Insights
2.7 List Of Assumptions
3 Research Methodology
3.1 Research Vehicle Type
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
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