Increasing demand for luxury vehicles and SUVs is expected to drive the growth of the torque vectoring market during the forecast period. This has resulted in some of the key developments by companies operating in the market to consolidate their market positions and look for further niche opportunities.
Segment Analysis:
Automotive torque vectoring is a technology that gives the differential ability to independently distribute and manage engine torque to wheels or axles. It offers a vehicle better grip, control, and performance. It is mostly used in vehicles, which perform off-road activities with 4WD and AWD for better grip on different terrain. It is also used in sports car & luxury cars, which feature AWD for better grip and performance, and also a better launch. Nowadays, a simple torque vectoring system can also be found in FWD and RWD vehicles. It comes in two types of technology, namely, Active Torque Vectoring System (ATVS) and Passive Torque Vectoring System (PTVS).
The increasing demand for torque vectoring system in luxury vehicles and sport utility vehicle (SUV) with off-roading capabilities is driven market growth. Moreover, rising safety concerns of consumers are also fueling the growth of the torque vectoring market. Furthermore, the adoption of advanced torque vectoring systems in some electric vehicles can also be considered as a key factor in the growth of the market. However, torque vectoring has a long production cycle, which can hamper the growth of the torque vectoring market. North America and Europe are expected to witness high demand for torque vectoring systems due to the increasing use of 4WD commercial vehicles and luxury vehicles. This market in Asia Pacific is expected to witness substantial growth during the forecast period.
Key Factors Impacting Market Growth:
- Increasing demand for luxury vehicles and SUVs
- Increasing automotive safety concerns
Regional Analysis:
By region, North America, Western Europe, and Asia Pacific are estimated to dominate the torque vectoring market in terms of market demand. North America and Western Europe have been traditional markets for the automotive sector with many global manufacturers headquartered in this region. The automotive sector in these regions has been dynamic in terms of technological developments and product modifications. The demand for lightweight materials, cleaner emissions, and green fuels have been some of the key influencing factors in this region. Also, the market has witnessed steady recovery from recent slowdowns in the past decades. Some of these factors are expected to impact the dynamics of the torque vectoring market in North America and Western Europe during the forecast period. The US, Germany, France, Italy, UK, and Spain have been some of the major economies for the torque vectoring market in the region.
Asia Pacific is estimated to be the fastest-growing region for the torque vectoring market during the forecast period. This region has been one of the lucrative markets for the automotive sector in the past few decades with strategic investments by global companies in the region. China, Japan, India, and South Korea have been some of the major countries for the torque vectoring market in the Asia Pacific region. The Middle East promises a strong market potential with the growth of the automotive sector in the region. Countries including UAE, Saudi Arabia, Qatar, and Iran have been diversifying the industrial sector to boost the economy in the past few decades. Other regions including Eastern Europe, South America, and Africa are estimated to emerging markets with growing demand during the forecast period.
Companies Covered:
GKN,Dana, American Axle,ZF, Bosch, Mitsubishi Heavy Industries, Timken, Haldex, Schaeffler, and Univance…
Market Segmentation:
By Vehicle Type:
- Light Commercial Vehicles
- Passenger Cars
By Propulsion:
- AWD
- 4WD
- FWD
- RWD
By Technology:
- Active Torque Vector System
- Passive Torque Vectoring System
By Region:
- North America
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- By Country (US, Canada, Mexico)
- By Vehicle Type
- By Propulsion
- By Technology
- Western Europe
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- By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
- By Vehicle Type
- By Propulsion
- By Technology
- Eastern Europe
- By Country (Russia, Turkey, Rest of Eastern Europe)
- By Vehicle Type
- By Propulsion
- By Technology
- Asia Pacific
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- By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
- By Vehicle Type
- By Propulsion
- By Technology
- Middle East
-
- By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
- By Vehicle Type
- By Propulsion
- By Technology
- Rest of the World
- By Region (South America, Africa)
- By Vehicle Type
- By Propulsion
- By Technology
Reasons To Buy This Report:
- Market size estimation of the torque vectoring market on a regional and global basis
- Unique research design for market size estimation and forecast
- Profiling of major companies operating in the market with key developments
- Broad scope to cover all possible segments helping every stakeholder in the market
Customization:
We provide customization of the study to meet specific requirements:
- By Segment
- By Sub-segment
- By Region/Country
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