“Increased demand for luxury and performance vehicles (including SUVs, crossovers, and off-highway vehicles) to boost the growth of the torque vectoring market for automotive.”
The torque vectoring market for automotive is primarily driven by the increasing demand for luxury and performance vehicles (including SUVs, crossovers, and off-highway vehicles). The torque vectoring market for automotive is projected to grow at a CAGR of 20.01% from 2018 to 2025. From a market size of USD 4.48 billion in 2017, it is projected to reach a market size of USD 18.70 billion by 2025. Major factors driving the growth of this market include the increase in demand for technologically advanced features that enhance vehicle safety and dynamics. However, a major restraint for the torque vectoring market is the growing mobility services in major countries.
“AWD/4WD segment is estimated to be the fastest growing segment in the torque vectoring market for automotive, by propulsion.”
AWD/4WD is estimated to be the largest as well as the fastest growing segment of the torque vectoring 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 the improving living standards of consumers around the world has increased the demand for premium segment cars and SUVs.
“Passenger car segment is estimated to be the largest segment in the torque vectoring market for automotive”
Passenger car segment is estimated to be the largest as well as the fastest growing market for torque vectoring during the forecast period. Thepassenger car torque vectoring system market is mainly driven by continues growing demand for luxury passenger cars. Also as the demand for passenger cars is significantly more than the demand for other vehicles. Passenger cars constitute the largest market for torque vectoring.
“Europe to be the largest growing market for torque vectoring market for automotive”
Europe is projected to be the largest torque vectoring market for automotive, owing to 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), and the Volkswagen Group (Germany). Asia Pacific is projected to be the second fastest growing region in the torque vectoring market. Asia Pacific is projected to lead owing to the large vehicle production compared to other regions. Asia Pacific contributed about 50–55% of the global vehicle production in 2017. As per International Organization of Motor Vehicle Manufacturers (OICA), vehicle production in Asia Pacific grew from 45.6 million units in 2012 to 53.4 million units in 2017, at a CAGR of 3.18% over that period. With the increase in vehicle production, the demand for torque vectoring is projected to grow at a significant rate.
The study contains insights provided by various industry experts. The break-up of the primaries is as follows:
- By Company Type - Tier 1 – 60 %, Tier 2 – 13% and Tier 3 – 27%
- By Designation – C level – 30%, Director level – 35%, Others – 35%
- By Region – North America - 20%, Europe – 40%, APAC – 30%, RoW – 10%
The report provides detailed profiles of the following companies:
• GKN (UK)
• American Axle (US)
• Dana (US)
• BorgWarner (US)
• Eaton (Ireland)
• ZF (Germany)
• JTEKT (Japan)
• Magna (Canada)
• Bosch (Germany)
• Univance (Japan)
• Schaeffler (Germany)
• Timken (US)
• Ricardo (UK)
• Oerlikon Graziano (Italy)
• Mitsubishi Heavy Industries (Japan)
• HALDEX (Sweden)
• Continental (Germany)
The torque vectoring market for automotive has been segmented on the basis of vehicle type (Passenger Cars and Light Commercial Vehicle), Technology (Active Torque Vectoring System and Passive Torque Vectoring System), Propulsion (AWD/4WD, Front Wheel Drive, Rear Wheel Drive), EV Type (Battery Electric Vehicle and Hybrid Electric Vehicle), Clutch Actuation Type (Hydraulic and Electronic) and Region (Asia Pacific, Europe, North America, and RoW). - Global Forecast to 2025
Reasons To Buy the Report:
The report provides insights with reference to the following points:
- Market Development: The report provides comprehensive information about lucrative emerging markets. The report analyzes the torque vectoring market for automotive across regions.
- Product Development/Innovation: The report offers detailed insights into R&D activities, upcoming technologies, and new product launches in the torque vectoring market for automotive.
- Market Diversification: The report provides detailed information about untapped markets, investments, new products, and recent developments in the torque vectoring market for automotive.
- Competitive Assessment: The report provides an in-depth assessment of strategies, products, and manufacturing capabilities of leading players in the torque vectoring market for automotive.