PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1076975
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1076975
The global Torque Vectoring market is estimated to be worth $7,200.4 million in 2021. Torque Vectoring market is expected to expand at an 13.8% CAGR during the forecast period.
Market Introduction
Torque vectoring is a crucial aspect of generating and utilizing wheel power. The technology improves handling, stability, grip, and performance, among other things. It enables the driver to transmit or adjust the torque of a specific wheel or axle to meet their needs. It also aids in speed control by shifting the car's weight to the preferred wheel and allowing for improved grip. They come in a variety of configurations, including front, rear, or all-wheel drive, as well as the system. Despite the fact that torque vectoring is computer-controlled, its working can be rather different. Mechanical, differential-based technology is frequently used in high-performance automobiles. A brake-based method, similar to the differential-based approach, is used in more traditional automobiles. Some cars may employ a combination of the aforementioned techniques to improve their handling.
Market Dynamics
The primary driver for the market's growth is the increase in demand for luxury and performance cars, such as SUVs, crossovers, and off-highway vehicles is driving the torque vectoring industry in the automotive sector. SUVs accounted for around 45% of global car sales in 2021, according to the International Energy Agency. SUV sales are expected to rise during the predicted period, thanks to rising demand for luxury vehicles and increased safety concerns. The increasing use of torque vectoring systems in rear-wheel drive and 4WD (four-wheel-drive) systems is expected to fuel market expansion. Another major aspect driving the growth of the torque vectoring market is the growing need for safety and convenience in different topographical systems. The torque vectoring market is growing because of the increased adoption of 4WD or four-wheel drive systems, which offer tremendous traction to all four wheels of a vehicle, reducing loss of control, especially on slick roads, and enhancing safety and vehicle dynamics.
Segmentation Analysis
Torque Vectoring Market is segmented by Vehicle Type, Propulsion, EV Type, Actuation Type, Technology, and geography. Based on clutch actuation, the electronic clutch dominates the global torque vectoring market with a 58% market share. The electronic clutch meets the mechanical components' needs with greater efficiency and durability. It also aids in improving overall fuel efficiency with great precision and, as a result, complies with various strict emission requirements, which is a major reason driving the adoption of such components in automobiles. Based on Propulsion, 4WD is expected to be the largest market for torque vectoring. The segment is also expected to register the highest growth of 9.2%. Growing demand for SUVs, as well as the increased need for improved vehicle stability and safety, are driving the AWD/4WD category. The AWD/4WD systems are typically used in premium cars and SUVs. The demand for premium sector automobiles and SUVs has increased as economic conditions have improved, industrialization has increased, and consumer living standards have improved around the world.
Competitive Landscape
Players compete and collaborate to achieve a significant market share in this highly competitive market. The industry players are focusing on innovation, product launches, partnerships, agreements, mergers, and acquisitions. For instance, In December 2020, Schaeffler entered into a technology partnership with DTM for their new series. This partnership with DTM Electric will help Schaeffler in improving torque distribution to a new level. Moreover, in 2019, BorgWarner developed an innovative, compact, cost-effective, torque-vectoring dual-clutch system for electric vehicles that requires only one rear electric motor.
Key features of the study:
This proposed research study on Torque Vectoring market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2022-2028), considering 2021 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Torque Vectoring market.
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Torque Vectoring market.
Impact of COVID-19 on Torque Vectoring market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Torque Vectoring market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Torque Vectoring market, we have also included competitive landscape and key innovator analysis for the Torque Vectoring market
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Torque Vectoring market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Torque Vectoring market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
Global Torque Vectoring Market Key Players
Dana
Eaton
Magna
Bosch
Schaeffler
Ricardo
Univance
Timken
ZF
BorgWarner
GKN
Global Torque Vectoring Market by Vehicle Type
Passenger Car
Light Commercial Vehicle
Global Torque Vectoring Market by Propulsion
Front wheel drive (FWD)
Rear wheel drive (RWD)
Four wheel drive (4WD)
Global Torque Vectoring Market by Actuation Type
Hydraulic
Electronic
Global Torque Vectoring Market by EV Type
BEV
HEV
Global Torque Vectoring Market by Technology
Passive Torque Vectoring Market
Active Torque Vectoring Market
Global Torque Vectoring Market by Region
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa