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. Rising demand for luxury vehicles and high-performance cars are expected to ensure growth for the torque vectoring market. The torque vectoring market size would also benefit from the inclusion of better technologies and investment in research facilities.
Segmentation:
·
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 includes
segments like rear-wheel drive, front-wheel drive, and all/four-wheel drive.
The front-wheel-drive segment has the upper-hand in the market. 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.
·
By EV, the global
report on the torque vectoring market comprises hybrid electric vehicles
(HEV)and battery electric vehicles (BEV). The BEV segment is the leading one
but the HEV segment is showing a better growth rate.
·
By
technology, the global understanding of the torque vectoring market
reveals an active torque vector system and passive torque vector system. The
passive torque vector system segment would dominate the market, but the active
torque vector system would surpass the other in terms of CAGR.
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Competitive Landscape:
GKN (UK), BorgWarner (US), American Axle (US), Dana (US),
JTEKT (Japan), Getrag (Canada), Eaton (Ireland), ZF (Germany), Schaeffler
(Germany), Timken (US), Univance (Germany), Bosch (Germany), Oerlikon Graziano
(Italy), Continental AG (Germany), Ricardo (UK), and others are known names
playing crucial roles in impacting the global torque vectoring market size.
These companies are deploying strategic mechanisms like a merger, acquisition,
innovation, better funding for research, branding, collaboration, and others to
make sure their market stand remains strong and the market as a whole, profits.
MRFR analysts traced changes made in the market in recent years to get an
understanding of the market proceedings.
Regional Analysis:
Technological support, superior infrastructure, the influx of investment, and other favorable conditions are expected to put North America ahead of many other regions. The Americas leads the market, due to the region’s established infrastructure, and the presence of an unparalleled technological expertise. The importance of torque vectoring’s role in the region’s automotive industry continues to surge every year, driven by the increasing production of automotive. Europe is recording the fastest growth as prominent car makers are generating huge demand for the product.
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Major Highlights of TOC Covers:
1. Executive Summary
2. Key Business Trends
3. Regional Trends and Growth
4. Product Trends
5. End-use Trends
6. Definition and Forecast Parameters
7. Torque Vectoring Market Segmentation
8. Torque Vectoring Market Landscape
9. Vendor Matrix
More…
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