Global Automotive Torque Vectoring Market was valued at US$ 4.48Bn in 2019 and is expected to reach US$ 19.73Bn by 2026, at a CAGR of 20.36% during a forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.Global Automotive Torque Vectoring Market
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Torque vectoring is a technology employed in automobile differentials. A differential transfers engine torque to the wheels. Torque vectoring technology provides the differential with the ability to vary the torque to each wheel. This method of power transfer has recently become popular in all-wheel-drive vehicles.
Major driving factors of the automotive torque vectoring market are increasing rising concerns for vehicle safety and dynamics among the users. This is driving the torque vectoring market. With the development of better and advanced safety measures for premium as well as other commercial vehicles, the torque vectoring market is growing.
Torque vectoring system improves the convenience for the motive force throughout improper road conditions by gathering data victimization sensors that monitor the wheel steering angle, wheel speed, and yaw rate. Growing would like for convenience and safety in multiple parcel systems is one of the first drivers for market growth. The growing mobility services in major countries and the increase in shared mobility services will act as restraints to the market.
Based on the EV, BEV (Battery electric vehicles) segment is expected to hold the largest share in the Automotive Torque Vectoring market during the forecast period. Electric vehicle architectures with individual wheel propulsion devices on the other allowing for selective torque distribution. Next to the positive vehicle handling and safety features of torque vectoring an efficient operation is providing to extend the operational range of the electric vehicle.
Future vehicle technology related to yaw moment control, anti-lock braking, and traction control through the employment of effective torque vectoring strategies for electric vehicles are the growth opportunity for the automotive torque vectoring market
Based on the clutch Actuation type, the torsion vectoring market includes hydraulic and electronic. Hydraulic accounts for the most value at the moment, whereas, the electronic phase will rise with a much better rate of growth. Electronic is increasing in a variety of transmission concepts, the Electronic in clutch actuation continues to be one of the most important in transmission designs.
By propulsion, the torque vectoring market can be segmented into the front-wheel drive, rear-wheel drive, and all/four-wheel drive. The front-wheel-drive segment leads the market, whereas, rear-wheel drive can enjoy the fastest CAGR during the forecast period.
In terms of region, Asia is expected to hold the largest share in the Automotive Torque Vectoring market during the forecast period. Asia established itself as the world’s biggest car market in 2010 after vehicle sales jumped a whopping 68 percent over the forecasted period. Government incentives such as tax breaks and rural subsidies have helped Asia's annual vehicle sales rise by double digits over the past few years. The Chinese government has encouraged foreign automakers to establish joint ventures and share technology with local companies.
The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the Automotive Torque Vectoring market. Moreover, the study also covers an Automotive Torque Vectoring market attractiveness analysis, brand portfolio expansion, mergers, collaborations, joint ventures, acquisitions, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
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Global Automotive Torque Vectoring Market, By Technology
• ATVS (Active torque vectoring system)
• PTVS (Passive torque vectoring system)
Global Automotive Torque Vectoring Market, By Propulsion
• AWD/4WD (All-Wheel Drive / Four Wheel Drive)
• FWD (Front Wheel Drive)
• RWD (Rear Wheel Drive)
Global Automotive Torque Vectoring Market, By EV
• BEV (Battery electric vehicles)
• HEV (Hybrid electric vehicles)
Global Automotive Torque Vectoring Market, By Clutch Actuation Type
• Hydraulic
• Electronic
Global Automotive Torque Vectoring Market, By Vehicle Type
• Passenger Vehicle
• Light Commercial Vehicle
Global Automotive Torque Vectoring Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in the Global Automotive Torque Vectoring Market
• GKN
• American Axle
• Dana
• BorgWarner
• Eaton
• ZF
• JTEKT
• Magna
• Bosch
• Univance
• Schaeffler
• Timken
• Ricardo
• Oerlikon Graziano
• Mitsubishi Heavy Industries
• HALDEX
• Continental
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