Automotive Torque Vectoring Market to Witness the Highest Growth During the Forecast Period

Posted on 2020-02-10 by MarketsandMarkets in Automotive, Technology // 0 Comments

The Automotive Torque Vectoring Market is primarily driven by the increased demand for luxury and performance vehicles (including SUVs, crossovers, and off-highway vehicles). The automotive torque vectoring market is projected to grow at a CAGR of 20.01% from 2018 to 2025. From a market size of USD 5.22 billion in 2018, it is projected to reach a market size of USD 18.70 billion by 2025.

The major players in the torque vectoring market for automotive 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), and Oerlikon Graziano (Italy).

The global market has been segmented on the basis of vehicle type, technology, propulsion, EV type, clutch actuation type, and region. Europe region is projected to be the largest market in this market because of the presence of many developed countries such as Germany, the UK, France, and Spain, which account for a considerable share of the European automotive industry. The market is dominated by established OEMs such as BMW AG (Germany), Daimler AG (Germany), Fiat (Italy), PSA/Peugeot-Citroen (France), Jaguar Land Rover (UK) and the Volkswagen Group (Germany).

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AWD/4WD is estimated to be the largest as well as the fastest-growing segment of the global market during the forecast period. The AWD/4WD segment is mainly driven by growing demand for SUVs, increasing demand for improved vehicle safety, stability, and enhanced driving dynamics. The AWD/4WD systems find their application mostly in the premium car segment and SUVs. Improving economic conditions, increasing industrialization, and improving living standards of consumers around the world have increased the demand for premium segment cars and SUVs.

The electronic clutch actuation type is enjoying a greater adoption rate owing to its better efficiency, unlike the hydraulic clutch. The electronic clutch serves the requirements of the mechanical components with more efficiency and durability. Also, it helps in improving the overall fuel efficiency with high accuracy and hence, fulfills several stringent emission norms that are the major factor leading toward the adoption of such components in vehicles.

In the electric vehicle segment, HEVs have the largest market share in terms of volume. HEVs are premium vehicles in terms of their price range and the features offered, and they have a higher fuel economy compared to the ICE variant of the same model. Japan is the leading country in terms of sales of hybrid vehicles owing to the presence of leading hybrid vehicle manufacturers such as Nissan and Toyota.

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