Torque Vectoring Market Highlights:
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 global torque vectoring market can expect a 12% CAGR during the forecast period (2018-2023) with which it can easily double-up its present market valuation of USD 4.59 Bn and reach USD 9.20 Bn by 2023, claims reports published by Market Research Future (MRFR). The report further includes drivers such as growing demand for high-performance cars with safety measures, technological advancement and intriguing prospect of electric cars.
However, growing mobility services in various countries can deter the torque vectoring market growth considerably. In addition, the production cycle of torque vectors can adversely impact the expected CAGR during the forecast period.
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.
Browse Full Report @ https://www.marketresearchfuture.com/reports/torque-vectoring-market-6654
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:
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.
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