The torque vectoring market will touch USD 9.20 billion at a healthy 12% CAGR in the forecast period 2018- 2023, as per the new Market Research Future (MRFR) report. Torque vectoring plays an imperative part to source and harness wheel power. By improving performance, grip, stability, and handling, it gives more controlling access to the driver.
Various factors are fuelling the global torque
vectoring market growth. According to the recent MRFR market estimates,
such factors include the growing need for high-performance and luxury vehicles
with safety stipulations to abide by, technological brilliance, and concept and
electric cars predicted to launch innovation.
On the contrary, long production cycle time and the impact of
the COVID-19 impact may hamper the global torque vectoring market growth over the
forecast period.
Market Segmentation
The MRFR report throws light on an inclusive segmental analysis
of the global torque vectoring market based on technology, electric vehicle
(EV) type, clutch actuation type, propulsion, and vehicle type.
By vehicle type, the global torque vectoring market is segmented
into light commercial vehicle and passenger car. Of these, the passenger car
will lead the market over the forecast period.
By propulsion, the global torque vectoring market is segmented
into all/four-wheel drive, rear wheel drive, and front wheel drive. Of these,
the front wheel drive segment will dominate the market over the forecast
period. The rear wheel drive segment will grow at the fastest pace over the
forecast period.
By clutch actuation type, the torque vectoring market is
segmented into electronic and hydraulic. Of these, the hydraulic segment will
spearhead the market over the forecast periods and the electronic segment will
develop at a high CAGR in the forecast period.
By electric vehicle type, the torque vectoring market is
segmented into hybrid electric vehicle (HEV) and battery electric vehicle
(BEV). Of these, the BEV segmented will have the lions share in the market over
the forecast period, and the HEV segment will grow at the fastest pace over the
forecast period.
By technology, the torque vectoring market is segmented into
passive torque vector system and active torque vector system. Of these, the
passive torque vector system will have the largest share in the market over the
forecast period and the active torque vector system will grow at the fastest
CAGR over the forecast period.
Regional Analysis
By region, the global torque vectoring market covers the recent
trends and growth opportunity across Europe, the Asia Pacific (APAC), the
Americas, and the Middle East & Africa (MEA). Of these, the Americas will
lead the market over the forecast period. The presence of superior
infrastructure, unparalleled zonal technological brilliance, the presence of
established infrastructure, unparalleled technological expertise, significance
of torque vectoring in the automotive industry, increasing production of
automotive, people’s high disposable income, expansive urban population,
emergence of the latest technologies in the auto industry, and high demand for
safety and comfort in vehicles are adding to the global torque vectoring market
growth in the region.
In Europe, the torque vectoring market is predicted to have the
second-largest share over the forecast period. The presence of several
automobile behemoths, substantial investments in R&D, and increasing
business potentials are adding to the global torque vectoring market growth in
the region.
In the APAC region, the torque vectoring market is predicted to
have healthy growth over the forecast period. High business potential, surge in
R&D efforts by top vendors, increasing fleet and traffic, increasing use of
new production facilities, and rising automotive sales in China and India are
adding to the global torque vectoring market growth in the region.
In the MEA, the torque
vectoring market size is predicted to have sound growth over the forecast
period.
Key Players
Key contenders profiled in the torque vectoring market report
include Continental AG (Germany), Oerlikon Graziano (Italy), Ricardo (UK),
Timken (US), Schaeffler (Germany), Univance (Germany), Bosch (Germany), Getrag
(Canada), JTEKT (Japan), ZF (Germany), Eaton (Ireland), BorgWarner (US), Dana
(US), American Axle (US), and GKN (UK), among others.
Industry Updates
March 2021- The 2022 Infiniti QX60 will come with predictive AWD
and torque vectoring.
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