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.
Market Research Future (MRFR) predicted in the report that Torque Vectoring Market would cross USD 9.20 Billion at a CAGR of 12% by 2023.
The global market was valued at USD 4.59 Billion in 2017, according to the report.
The global torque vectoring market is showing huge growth potential as the automotive sector is getting remarkable traction from several countries.The industry is expected to grow notably in the Asia Pacific region, where developing countries are investing more to bring in foreign companies and boost their own economies.
The torque vectoring market size would also benefit from the inclusion of better technologies and investment in research facilities.
The passenger car segment has the maximum market share, whereas the light commercial vehicle is outpacing the former in terms of growth.By propulsion, the analysis of the torque vectoring market includes segments like rear-wheel drive, front-wheel drive, and all/four-wheel drive.
However, the rear-wheel-drive has the potential to register the fastest CAGR during the forecast period.By clutch actuation type, the review of the torque vectoring market includes discussion on hydraulic and electronic.
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 CompetitorsThe 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.Get a FREE Sample with Complete TOC @ https://www.marketresearchfuture.com/sample_request/6654Market Drivers & ChallengesThe 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 SegmentationThe 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.
Overview:The Global Torque Vectoring Market is showing huge growth potential as the automotive sector is getting remarkable traction from several countries.
The torque vectoring market size would also benefit from the inclusion of better technologies and investment in research facilities.Get free sample pdf @ https://www.marketresearchfuture.com/sample_request/6654Segmentation:The Torque Vectoring Market Size has been analyzed on the basis of segments that include propulsion, electric vehicle (EV) type, clutch actuation type, vehicle type, and technology.
Fetched details from these segments would help in developing moves to increase the profit margin.By vehicle type, the study of the torque vectoring market gets segmented into passenger cars and light commercial vehicles.
The passenger car segment has the maximum market share, whereas the light commercial vehicle is outpacing the former in terms of growth.By propulsion, the analysis of the Torque Vectoring Market trends includes segments like rear-wheel drive, front-wheel drive, and all/four-wheel drive.
However, the rear-wheel-drive has the potential to register the fastest CAGR during the forecast period.By clutch actuation type, the review of the torque vectoring market includes discussion on hydraulic and electronic.
The hydraulic segment dominates the market at present, whereas the electronic segment is proceeding ahead with substantial speed.Browse complete report @ https://www.marketresearchfuture.com/reports/torque-vectoring-market-6654By EV, the global report on the torque vectoring market comprises hybrid electric vehicles (HEV)and battery electric vehicles (BEV).
