ID: MRFR/AM/5191-HCR | February 2021 | Region: Global | 100 pages
Torque vectoring market is all set to steer forward with an impactful 12% CAGR Forecast by 2027
Torque vectoring plays a pivotal role in sourcing and harnessing wheel power. By improving handling, stability, grip, and performance, it gives more controlling access to the car to the driver. Drivers can transfer or control the torque of a given wheel or axle as per their needs. It further involves speed controlling which can shift the weight of the car to the desired wheel and allow better grip. Based on the manufacturer, torque vectoring can be of different type such front, rear or all-wheel and the system is ever evolving with the functional development in the automotive industry. The global torque vectoring market is all set to steer forward with an impactful 12% CAGR during the forecast period (2018-2023), declares Market Research Future (MRFR) in an extensively studied report. The report further states that the torque vectoring market can double its market valuation by reaching USD 9.20 Bn by 2023 from USD 4.59 Bn in 2017.
Torque vectoring works in two ways; the simple and inexpensive way includes brake, but the more complex one involves complicated active differential-based torque vectoring. Increasing demand for luxury and high-performance vehicles with safety stipulations to abide by is pumping up the integrational need for torque vectoring. Furthermore, technological brilliance is opening up vistas to work on which can give growth of torque vectoring market a smooth ride in the coming years. At the same time, electric cars, along with concept cars is expected to launch innovation with which the market can expect to grow further. What it does best is maintaining sync amidst performance, cost, and weight of the car.
On the downside, its production cycle is quite long which can deter the torque vectoring market growth. At the same time, growing mobility services across countries can put a leash on the expected CAGR during the forecast period.
Major players in the torque vectoring market are GKN (UK), American Axle (US), Dana (US), BorgWarner (US), Eaton (Ireland), ZF (Germany), JTEKT (Japan), Getrag (Canada), Bosch (Germany), Univance (Germany), Schaeffler (Germany), Timken (US), Ricardo (UK), Oerlikon Graziano (Italy), Continental AG (Germany), and others.
The Torque Vectoring Market can be segmented by vehicle type, propulsion, clutch actuation type, electric vehicle (EV) type, and technology.
By vehicle type, the torque vectoring market can be segmented into passenger car and light commercial vehicle. Passenger car has the maximum market share, but light commercial vehicle is the fastest growing one.
By propulsion, the torque vectoring market can be segmented into front wheel drive, rear wheel drive, and all/four-wheel drive. Front wheel drive segment is dominating the market; however, rear wheel drive can record the fastest growth rate during the forecast period.
Based on clutch actuation type, the torque vectoring market includes hydraulic and electronic. Hydraulic has the maximum market value at present, whereas, electronic segment is showing growth-wise better potential.
EV-wise, the torque vectoring market comprises battery electric vehicle (BEV) and hybrid electric vehicle (HEV). BEV is spearheading the segment, but HEV can show the fastest growth rate.
Technology-based segmentation of the torque vectoring market reveals active torque vector system and passive torque vector system of which, passive torque vector system has the greater control over the market, but active torque vector system can record the fastest CAGR during the forecast period.
Region-specific analysis of the torque vectoring system includes the Americas, Europe, Asia Pacific (APAC) and the Middle East & Africa (MEA).
The Americas at present is dominating the market. The region has the superior infrastructure, and zonal technological brilliance is unparalleled. These factors can be considered while assessing the market of the Americas.
Europe is the fastest growing region. The continent is the house of several automobile market behemoths which is why torque vectoring is getting significant attention. Furthermore, the investment made for research and development is quite substantial which is triggering the market growth. The APAC region, in terms of volume, is quite big and has a lot of business potentials which has lured in market giants.
By employing meticulous strategies, competent data analysts of Market Research Future collect information and study them extensively before predicting the future market size with a detailed listing of the relevant market segments. Interviews with prime decision makers of various trendsetting companies of the apposite market give the primary research much prominence. The secondary method includes a minute analysis of the present and the past trends to have a better grasp of the upcoming market scenario. To increase the precision of the obtained data, top-down & bottom-up approaches have been integrated into the system which gives a walk-through of the demand and supply equation. Furthermore, by adhering to credible resources such as annual reports, SEC filings, and white papers, our data analysts empower themselves with subtle comprehension of the germane product before proceeding to discuss market factors. The intent is to provide a holistic view of the sector by judging it against irreproachable parameters and enriching it with significant inputs.
Global Torque Vectoring Market by Vehicle Type
Global Torque Vectoring Market by Propulsion
Global Torque Vectoring Market by Clutch Actuation Type
Global Torque Vectoring Market by EV type
Global Torque Vectoring Market by Technology
Global Torque Vectoring Market by Region
|Market Size||2027: Significant Value|
|CAGR||12% CAGR (2020 to 2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Propulsion, Clutch Actuation, EV Type and Technology|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Oerlikon Graziano (Italy), Continental AG (Germany), ZF (Germany), GKN (UK), JTEKT (Japan), Bosch (Germany), American Axle (US), Schaeffler (Germany), BorgWarner (US), Ricardo (UK), Timken (US), Univance (Germany), Getrag (Canada), Eaton (Ireland), Dana (US)|
|Key Market Opportunities||Increasing demand for luxury and high-performance vehicles with safety stipulations|
|Key Market Drivers||Improving handling, stability, grip, and performance|
Frequently Asked Questions (FAQ) :
The anticipated growth rate of the market can be 12%.
The market valuation by 2023 can be USD 9.20 Bn.
The most renowned companies in the global market include Oerlikon Graziano (Italy), Continental AG (Germany), ZF (Germany), GKN (UK), JTEKT (Japan), Bosch (Germany), American Axle (US), Schaeffler (Germany), BorgWarner (US), Ricardo (UK), Timken (US), Univance (Germany), Getrag (Canada), Eaton (Ireland), Dana (US), and others.
Europe is the fastest growing regional market.
The Americas is the currently leading market.