Press release
Torque Vectoring Market Analysis, Trends, Growth Opportunities And Forecast 2024-2033
Torque Vectoring Market
The Business Research Company presents an extensive market research report on the Torque Vectoring Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The torque vectoring market size has grown rapidly in recent years. It will grow from $9.17 billion in 2023 to $10.76 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The growth in the historic period can be attributed to improved traction and stability, safety enhancement, market competitiveness, consumer demand for enhanced driving dynamics, environmental and fuel efficiency concerns..
The torque vectoring market size is expected to see rapid growth in the next few years. It will grow to $19.32 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to autonomous vehicle development, urban mobility solutions, regulatory compliance and safety standards, cybersecurity integration, rise of rear-wheel torque vectoring.. Major trends in the forecast period include advanced sensor technologies for precise control, ai-based torque vectoring algorithms, integration with vehicle stability control, customizable driver settings, collaboration with tire manufacturers..
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Key Market Players:
Robert Bosch GmbH, Tesla Inc., Audi AG, ZF Friedrichshafen AG, Continental AG, Magna International Inc., Eaton Corporation, Mitsubishi Motors Corporation, Schaeffler AG, BorgWarner Inc., JTEKT Corporation, Denso Corporation, Dana Incorporated, Linamar Corporation, GKN Automotive Limited, American Axle & Manufacturing Inc., Haldex Ltd., Ricardo Plc, Univance Corporation, Prodrive Holdings Ltd., Getrag B.V. & Co. KG, Koenigsegg Automotive AB, Modelon AB, Drako Motors Inc., Hofer Powertrain GmbH are prominent players in the industry.
Market Drivers:
The growing trend of autonomous vehicles is expected to boost the growth of the torque vectoring market going forward. An autonomous vehicle refers to a vehicle that can function independently of human control. It uses various sensors, such as radar, lidar, and cameras, to create a map of its surroundings. Torque vectoring helps autonomous vehicles become more energy efficient by minimizing the power lost to wheel slide and other inefficiencies. For instance, in December 2022, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, there were projected to be 3.5 million autonomous vehicles on American roads by 2025. Further, 4.5 million autonomous vehicles will be on the road by 2030. Therefore, the growing trend of autonomous vehicles is driving the growth of the torque vectoring market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/torque-vectoring-global-market-report
Market Segments Include:
1) By Clutch Actuation Type: Hydraulic Clutch, Electronic Clutch
2) By Vehicle Type: Light Commercial Vehicles, Heavy Commercial Vehicles, Passenger Car
3) By Propulsion: Front Wheel Drive (FWD), Rear Wheel Drive (RWD), All Wheel Drive (AWD) Or Four Wheel Drive (4WD)
4) By Technology: Active Torque Vectoring System (ATVS), Passive Torque Vectoring System (PTVS)
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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