Global Torque Vectoring Market Size, Share, Forecast Report, 2020-2027
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.
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.
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 by Vehicle Type
- Passenger Car
- Light Commercial Vehicle
Global Torque Vectoring Market by Propulsion
- Front Wheel Drive
- Rear Wheel Drive
- All/ Four-Wheel Drive
Global Torque Vectoring Market by Clutch Actuation Type
Global Torque Vectoring Market by EV type
Global Torque Vectoring Market by Technology
- Active Torque Vector System
- Passive Torque Vector System