Dublin, May 22, 2023 (GLOBE NEWSWIRE) -- The "Torque Vectoring Market by Vehicle Type, Propulsion, Technology, Clutch Actuation Type: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to this report the torque vectoring market was valued at $8.1 billion in 2021, and is estimated to reach $31.8 billion by 2031, growing at a CAGR of 15.2% from 2022 to 2031.
Key Market Players
- GKN Automotive Limited
- Continental AG
- ZF Friedrichshafen AG
- jtekt corporation
- American Axle & Manufacturing, Inc.
- Dana Incorporated
- BorgWarner
- Eaton Corporation
- Bosch Ltd
- Univance corporation
The market is expanding as a result of the rising demand for torque vectoring systems in premium cars and sport utility vehicles (SUVs) with off-roading capabilities. Moreover, rising consumer safety concerns are propelling the torque vectoring market size. size. Further, rapid technological innovations by major manufacturers to reduce vehicles weight by introducing compact torque systems is creating a potential impact on the market.
Key factors driving the growth of the market includes increase in sales of electric vehicles globally. Regions such as Europe and North America are proactively emphasizing on protecting environment by reducing carbon emissions significantly. Moreover, these regions are stepping ahead aggressively to promote sustainability and build smart cities.
In such case, transportation is the upmost sector on which the governmental authorities are focusing to reduce hazardous emissions, especially emitting from vehicles, mainly heavy commercial and light commercial vehicles. Owing to this, vehicle OEMs are focusing on introducing and penetrating heavy & light electric vehicles in these regions, which is further responsible for boosting the torque vectoring solutions market size.
In addition to this, dramatic shift toward electronic control of torque distribution is a significant trend observed for 4WD technologies. Shifting from torque transfer to torque management has been the focus for OEMs and suppliers. This implies a considerable growth in active or On-demand AWD systems, resulting in decrease in volume and value for passive or conventional full time AWD systems. Owing to this, the torque vectoring market is likely to observe significant growth during the forecast period.
Furthermore, introduction of autonomous vehicles contributes to the torque vectoring market growth. Autonomous vehicles sense their environment and operate without human involvement. These types of vehicles are highly equipped with combination of sensors, cameras, radar, and advanced intuitive technologies, mainly artificial intelligence.
For smooth and efficient working of these vehicles, advanced braking systems are required to provide the driver seamless experience. To cater the same, torque vectoring manufacturers are proactively focusing on introducing solutions explicitly for the autonomous vehicles, further supplementing the market growth.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the torque vectoring market analysis from 2021 to 2031 to identify the prevailing torque vectoring market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the torque vectoring market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global torque vectoring market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Clutch Actuation Type
- Hydraulic Clutch
- Electronic Clutch
By Vehicle Type
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Passenger Car
By Propulsion
- Front Wheel Drive (FWD)
- Rear Wheel Drive (RWD)
- All Wheel Drive/Four Wheel Drive (AWD/4WD)
By Technology
- Active Torque Vectoring System (ATVS)
- Passive Torque Vectoring System (PTVS)
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- South Africa
- Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/nulvx5
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