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Torque Vectoring is a kind of technology which performs the fundamental activities of usual differential and transmit the torque independently to each wheels. Increasing concern regarding the vehicle safety and dynamics among the users is driving the growth of torque vectoring market. With the development of better and advanced safety measures for premium as well as other commercial vehicles, the torque vectoring market is growing in the current scenario.
MARKET SCOPE
The "Global Torque Vectoring Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the torque vectoring market with detailed market segmentation by technology, propulsion, electric vehicle, and geography. The report provides key statistics on the market status of the leading torque vectoring market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
? Based on technology, the global torque vectoring market is segmented into passive torque vectoring system (Ptvs) and active torque vectoring system (Atvs).
? On the basis of propulsion, the market is segmented into rear-wheel drive (Rwd), front-wheel drive (Fwd) and all-wheel drive (Awd).
? Based on electric vehicle, the market is bifurcated into hybrid electric vehicle and battery electric vehicle.
MARKET DYNAMICS
Drivers:
? Growing concern regarding safety of the vehicle
? Rising urbanization and increasing per capita disposable income to boost market growth.
? Rapidly advancing technology to further drive the demand
Restraints:
? Unorganized retail sector in some developing countries of Asia Pacific region
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The torque vectoring market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the torque vectoring market in these regions.
IMPACT OF COVID-19 ON TORQUE VECTORING MARKET
The outbreak of the COVID-19 has severely impacted the automotive, transportation and other related industries adversely. The emergence of COVID-19 virus across the globe which led to lockdown scenarios has led to unprecedented series of border closures across the globe. This disruption of global supply chain has left an adverse impact on the automotive industry. This pandemic restricted movement of people from one place to another. Also considering salary cuts or job losses, buying capacity of the consumer was also decreased. Restrictions like limited workforce at production site affected the torque vectoring market from supply side as well. However, post pandemic, this market is anticipated to grow considerably
MARKET PLAYERS
The report covers key developments in the torque vectoring market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from torque vectoring market are anticipated to lucrative growth opportunities in the future with the rising demand for torque vectoring in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the torque vectoring market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
? American Axle and Manufacturing, Inc.
? BorgWarner Inc.
? Dana Incorporated
? GKN
? JTEKT Corporation
? Magna International Inc.
? Prodrive
? Robert Bosch GmbH
? Schaeffler AG
? ZF Friedrichshafen AG