CHICAGO, October 11, 2018 /PRNewswire/ --
According to the new market research report "Torque Vectoring Market for Automotive by Vehicle type (PC and LCV), Technology (ATVS and PTVS), Propulsion (AWD/4WD, FWD, RWD), EV Type (BEV and HEV), Clutch Actuation Type (Hydraulic and Electronic), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the torque vectoring market for automotive is primarily driven by the increased 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 5.22 billion in 2018, it is projected to reach a market size of USD 18.70 billion by 2025.
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AWD/4WD is estimated to be the largest segment in the torque vectoring market for automotive
AWD/4WD is estimated to be the largest as well as the fastest growing market for torque vectoring market during the forecast period. The AWD/4WD torque vectoring system market is mainly driven by the 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 standards of living of consumers around the world have increased the demand for premium segment cars and SUVs.
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Electronic clutch actuation type is estimated to have the fastest growth in the torque vectoring market for automotive
The electronic clutch actuation type is seeing 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, which is the major factor leading to the adoption of such components in the vehicles.
Europe is estimated to be the leading market for the torque vectoring market for automotive
Europe region is projected to be the largest torque vectoring market for automotive 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), and the Volkswagen Group (Germany).
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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), Magna (Canada), Bosch (Germany), Univance (Germany), Schaeffler (Germany), Timken (US), Ricardo (UK), and Oerlikon Graziano (Italy).
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