Pune, 27, April 2023: Over the forecast period, Maximize Market Research expects the Torque Vectoring Market growth from USD 8.65 Bn in 2022 to USD 30.12 Bn in 2029 at a CAGR of 16.88 percent. The report analyzed by Maximize Market Research, on the Torque Vectoring market, covers an extensive regional analysis and competitive landscape.
Torque Vectoring Market Report Scope and Research Methodology
The Torque Vectoring Market report includes current trends and market highlights, assisting clients in exploring lucrative opportunities in the market. The report covers insights into the major drivers, challenges, and major restraints of the Torque Vectoring Market. During the forecast period, the report covers market size with estimations and growth rates. To understand market penetration, competitive structure, pricing, and demand analysis, regional market analysis is carried out at the local, regional, and global levels.
For a competitive landscape of the Torque Vectoring Market, Key players are collected based on several parameters that involve the products and services offered, revenue generated, technological advancements adopted and mergers and acquisitions. The bottom-up approach was used for Torque Vectoring market estimation. Data is collected using primary and secondary collection methods with qualitative and quantitative approaches. Primary data include surveys, questionnaires and telephonic interviews with market experts, market leaders and business owners. Secondary data was taken from annual reports, financial reports, government organizations’ sites and white papers.
SWOT, PESTLE and Porter were used for the Torque Vectoring Market analysis for the Micro and macro factors affecting the Torque Vectoring Market presented. Thus the report act as a guide for investors, stakeholders, and market followers of the market.
Torque Vectoring Market Dynamics
Torque Vectoring has been improve vehicle handling, stability and safety and thus it becoming more popular among consumers. As a result, the increasing awareness about the benefits of ADAS technologies such as Torque Vectoring and the growing adoption of electric as well as hybrid vehicles fuels the market demand.
The market is driven by the growing trend of autonomous driving, increasing government regulations and safety standards, rising adoption of the torque vectoring systems in off-road vehicles, increase in the use of commercial and passenger vehicles, the introduction of mobility as a service (MaaS) technologies, growing automation and rising awareness of the highest safety and dynamics of the vehicles. The increasing focus on the development of lightweight and compact torque vectoring systems by the manufacturers is also the key factor for market growth.
The market is expected to be restrained by the complexity of the system, increasing challenges in the integration of existing vehicle systems and the lack of the essential components to integrate in controlling and braking systems.
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Torque Vectoring Market Regional Insights
In 2022, North America dominated the Torque Vectoring Market with the largest market share and is expected to have significant growth over the forecast period. The regional market is driven by the increasing demand for high-performance and luxury vehicles, presence of the key automotive manufacturers, rapid urbanization and an increase in the spending capacity of individuals. The increasing investments to create a sustainable and clean environment by the government of the United States help to fuel the regional market growth.
In 2022, Asia Pacific held the second-largest position in the Torque Vectoring Market. The increasing use of advanced automotive technology, the growing focus on vehicle safety, the increasing demand for advanced driver assistance systems (ADAS) and the growing automotive industry in developing economies such as India, China and Japan and are the influencing factors for the regional market growth.
Torque Vectoring Market Segmentation
By Vehicle Type
By Propulsion
By Clutch Actuation Type
By EV Type
Torque Vectoring Market Key Competitors include:
Table of Content for Global Torque Vectoring Market:
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Key questions answered in the Torque Vectoring Market are:
Key Offerings:
Maximize Market Research is Automotive and Transportation research firm, has also published the following reports:
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