Torque Vectoring Market expected to hit USD 30.12 Bn by 2029 at a CAGR of 16.88 percent – says Maximize Market Research

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Dublin, April 24, 2023 (GLOBE NEWSWIRE) — A global Automotive and Transportation research and business-consulting firm, Maximize Market Research, has published a market intelligence report on the “Torque Vectoring Market”. The report is a combination of primary data and secondary data and domain expert has analyzed the Torque Vectoring Market from a local as well as a global point of view. Over the forecast period, Maximize Market Research expects, the market to grow from USD 8.65 Bn in 2022 to USD 30.12 Bn in 2029 at a CAGR of 16.88 percent.

Torque Vectoring Market Report Scope and Research Methodology

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The Torque Vectoring Market report provides a detailed analysis of the data through segments such as operations and payloads along with their multiple sub-segments. The bottom-up approach is used to estimate the size of the Torque Vectoring Market by value and volume. The report includes data regarding strategies, investment in research and development and mergers and acquisitions by major key players such as BorgWarner Inc., Schaeffler AG and ZF Friedrichshafen AG. The Torque Vectoring Market involves pricing analysis, market share and product penetration and scope for the market in major geographic regions such as North America, South America, Asia Pacific, Middle East and Africa and Europe. Primary and secondary research methods were used to collect data. Collected data was later analyzed by tools such as SWOT analysis and PORTER’s five force model, which includes drivers, restraints, opportunities and regional insights.

Torque Vectoring Market Overview

A computer-controlled system that controls torque between the wheels. This method of power transfer become popular in all-wheel drive vehicles. Strict government regulations are the major factors driving the Torque Vectoring Market. The report provides an analysis of the through segments and their multiple sub-segments.

Torque Vectoring Market Dynamics

The growing shift of consumers toward safety and the introduction of mobility as a service (MaaS) technologies are driving the growth of the Torque Vectoring Market. The Torque vectoring system provides maximum safety and efficiency. Growing automation and the trend of advanced driver-assistance systems are also expected to propel the growth of the Torque Vectoring Market. These systems are fuel-efficient, increase safety and reduce the emission from vehicles. The factors such as semiconductor chips and microcontroller shortages due to the disturbed supply chain in the pandemic and the high cost associated with the use of torque vectoring systems are expected to hinder the growth of the Torque Vectoring Market.

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Torque Vectoring Market Regional Insights

North America held the largest share of the Torque Vectoring Market in 2022. The growing demand from consumers for vehicles with high-performance, safety and efficiency features. The increased demand for luxury vehicles in the region along with the growing automation industry is expected to drive North America Torque Vectoring Market.

Asia Pacific is the second-largest growing region in the Torque Vectoring Market during the forecast period. The growing automobile industry in China, India and Japan and government regulations in these countries are expected to drive the growth of the Asia Pacific Torque Vectoring Market.

Torque Vectoring Market Segmentation

By Vehicle Type:

• Passenger Car
•         Light Commercial Vehicle

The Passenger Car segment is expected to grow at the highest CAGR of 17.34 during the forecast period. The integration of the advanced driving assistance system (ADAS) and latest safety features in passenger vehicles are expected to drive the segment in Torque Vectoring Market.

By Propulsion:

• Front-wheel drive (FWD)
• Rear-wheel drive (RWD)
• All-wheel drive/Four wheel drive (4WD)

All-wheel drive segment is expected to hold the largest share in the Torque Vectoring Market throughout the forecast period. Growing demand for SUVs and off-road vehicles also demands safety and advanced braking.

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By Clutch Actuation Type:

• Hydraulic
•         Electronic

By EV Type:

• BEV
• HEV        

Torque Vectoring Key Competitors include:

• JTEKT Corporation
• Continental AG
• GKN plc
• BorgWarner Inc.
• Schaeffler AG
• ZF Friedrichshafen AG
• Eaton Corporation
• Magna International Inc.
• Mitsubishi Electric Corporation
• Dana Incorporated
• American Axle & Manufacturing Holdings, Inc.
• Robert Bosch GmbH
• AVL List GmbH
• Ricardo plc
• Oerlikon Graziano
• Infineon Technologies AG
• Timken

Recently, on April 3, 2023, Continental and HERE announced their partnership with IVECO to increase safety and fuel-saving functions in commercial vehicles. Continental provides vehicle positioning, data aggregation and scalable 4G/5G telematics control unit.

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Key questions answered in the Torque Vectoring Market are:

• What is Torque Vectoring Market?
• What was the Torque Vectoring Market size in 2021?
• What is the expected Torque Vectoring Market size during the forecast period?
• What are the global trends in the Torque Vectoring Market?
• What are the major restraints for the Torque Vectoring Market?
• Which segment dominated the Torque Vectoring Market growth?
• What is the demand pattern for the Torque Vectoring Market?
• What growth strategies are the players considering to increase their presence in Torque Vectoring Market?
• What are the upcoming industry applications and trends for the Torque Vectoring Market?
• Who are the leading companies and what are their portfolios in Torque Vectoring Market?
• Which region dominates the largest market share in Torque Vectoring Market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022−2029
• Market Dynamics – Growth Drivers, Restraints, Opportunities, Organization Size, Application and Industry Vertical
• Market Segmentation – A detailed analysis by Vehicle Type, Propulsion, Clutch Actuation Type and EV Type
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

Maximize Market Research is leading Automotive and Transportation research firm, has also published the following reports:

Automotive Steering Torque Sensor Market – The market size is expected to reach USD 6.98 Bn by 2029 at a CAGR of 8.21 percent during the forecast period. The market is expected to be driven by the demand of Luxury vehicle and premium vehicles along with sports vehicle is increasing Automotive Steering Torque Sensor market.

Torque Sensor Market – The market size is expected to reach USD 10.28 Bn by 2029 at a CAGR of 5.5 percent during the forecast period. The market is expected to be driven by adopting and relying on new, smarter technologies to collect and use data more effectively.

Torque Converter Market – The market size is expected to reach USD 11.91 Bn by 2029 at a CAGR of 5.5 percent during the forecast period. The market is expected to be driven by torque measurement is becoming increasingly important in different industries.

Automotive Night Vision System Market – The market size is expected to reach USD 9.67 Bn by 2029 at a CAGR of 12.02 percent during the forecast period. The market is expected to be driven by the increased sales of vehicles with ADAS systems, which depend on automotive cameras to give drivers image-based inputs.

Automotive Biometric Seat Technology Market – The market size is expected to reach USD 372.32 Mn by 2029 at a CAGR of 9.18 percent during the forecast period. The market is expected to be driven by the increase in the adoption of artificial intelligence technology and the incorporation of infotainment systems in vehicles. Major automakers and technology companies are investing in the advancement of biometrics for a variety of use cases, including personalization, driver monitoring, and vehicle access.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.