Torque Vectoring Market For Automotive to grow at 12% CAGR and reach market value $9.20 Billion By 2023, according to "Global Torque Vectoring Market For Automotive Size, Share, Trends, Growth and Regional Forecast Industry Report 2018" published by Market Research Future. This report comprises comprehensive information on Torque Vectoring Market For Automotive Forecast data up to 2023
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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.
Global Torque Vectoring Market For Automotive Highlights:
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.
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 dominates the market, but light commercial vehicle can expect better growth rate.
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 leads the market, whereas, rear wheel drive can enjoy the fastest CAGR during the forecast period.
Based on clutch actuation type, the torque vectoring market includes hydraulic and electronic. Hydraulic accounts for the maximum market value at present, whereas, electronic segment can rise with better growth rate.
EV-wise, the torque vectoring market comprises battery electric vehicle (BEV) and hybrid electric vehicle (HEV). BEV is leading the segment, but HEV has the potential to display faster CAGR during the forecast period.
Torque Vectoring Market For Automotive By Region:
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.
The thriving torque vectoring market can expect more expansion as companies are locking heads by implementing strategies. These tactical steps often assist companies in staying afloat and strengthens the status of the market as a whole. Merger, acquisition, collaboration, new product launch, and other methods are a part of these tactical moves.
For instance, Dana, in 2018, decided to take over Oerlikon’s drive system business. Oerlikon Drive System has a reputation for providing high-precision gears and planetary hub drives for wheeled and tracked vehicles which will improve Dana’s business potentials.
Continental AG, on the other hand, is teaming up with Knorr-Bremse for research purposes regarding highly automated commercial vehicles driving. The latter is known as a supplier of redundant actuator systems for brakes and steering and is responsible for the overall system integration.
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