Torque Vectoring Market 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).
Torque vectoring market is gaining precedence with the ever-growing demand for luxury cars where safety is of utmost concern. Torque vectoring provides stability to cars and empowers drivers with better control of the car. The technology does it by sourcing and distributing power to the wheels which is essential for smooth driving.
The Key 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.
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Torque Vectoring Market Segmentation:
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.
Regional Analysis:
Geographic analysis of the global torque vectoring market spans across the Americas, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA).
The Americas has the maximum market share. Its huge revenue generation capacity can give credit to first-rate infrastructure and technological superiority.
Europe is predicted to become the largest market and can grow hereon with the fastest CAGR during the forecast period. Countries such as Germany, Spain, France, and the U.K. are contributing the most. But the market is gaining from the presence of several market titans such as BMW AG (Germany), Daimler AG (Germany), Fiat (Italy), PSA/Peugeot-Citroen (France), and the Volkswagen Group (Germany). Research and development sector is also getting substantial funding which can help the market conquer goals.
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