Overview:
The Global Torque Vectoring Market is showing huge growth potential as the automotive sector is getting remarkable traction from several countries. The industry is expected to grow notably in the Asia Pacific region, where developing countries are investing more to bring in foreign companies and boost their own economies. Market Research Future (MRFR) predicted in the report that it would cross USD 9.2 billion by 2023. Rising demand for luxury vehicles and high-performance cars are expected to ensure growth for the Automotive Torque Vectoring System Market. The torque vectoring market size would also benefit from the inclusion of better technologies and investment in research facilities.
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Segmentation:
The torque vectoring market has been analyzed on the basis of segments that include propulsion, electric vehicle (EV) type, clutch actuation type, vehicle type, and technology. Fetched details from these segments would help in developing moves to increase the profit margin.
By vehicle type, the study of the torque vectoring market gets segmented into passenger cars and light commercial vehicles. The passenger car segment has the maximum market share, whereas the light commercial vehicle is outpacing the former in terms of growth.
By propulsion, the analysis of the torque vectoring market includes segments like rear-wheel drive, front-wheel drive, and all/four-wheel drive. The front-wheel-drive segment has the upper-hand in the market. However, the rear-wheel-drive has the potential to register the fastest CAGR during the forecast period.
By clutch actuation type, the review of the torque vectoring market includes discussion on hydraulic and electronic. The hydraulic segment dominates the market at present, whereas the electronic segment is proceeding ahead with substantial speed.
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By EV, the global report on the torque vectoring market comprises hybrid electric vehicles (HEV)and battery electric vehicles (BEV). The BEV segment is the leading one but the HEV segment is showing a better growth rate.
By technology, the global understanding of the torque vectoring market reveals an active torque vector system and passive torque vector system. The passive torque vector system segment would dominate the market, but the active torque vector system would surpass the other in terms of CAGR.
Regional Analysis:
Torque Vectoring Market, Technological support, superior infrastructure, the influx of investment, and other favorable conditions are expected to put North America ahead of many other regions. Europe is recording the fastest growth as prominent car makers are generating huge demand for the product.
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Competitive Landscape:
GKN (UK), BorgWarner (US), American Axle (US), Dana (US), JTEKT (Japan), Getrag (Canada), Eaton (Ireland), ZF (Germany), Schaeffler (Germany), Timken (US), Univance (Germany), Bosch (Germany), Oerlikon Graziano (Italy), Continental AG (Germany), Ricardo (UK), and others are known names playing crucial roles in impacting the global torque vectoring market size. These companies are deploying strategic mechanisms like a merger, acquisition, innovation, better funding for research, branding, collaboration, and others to make sure their market stand remains strong and the market as a whole, profits. MRFR analysts traced changes made in the market in recent years to get an understanding of the market proceedings.
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