Global Automotive Torque Vectoring System Market 2017-2021
About Automotive Torque Vectoring System
Torque vectoring as a technology is developed as an addition to the basic or standard differential. Hence, this technology performs the basic tasks of a usual differential, as well as transmitting torque independently to the driving wheels. This ability to transfer independent torque generally results in the improvement of vehicular handling and traction. Torque vectoring differentials was originally evolved for racing, especially rally racing purposes. Some of the earliest cars to come with this technology belonged to Mitsubishi Motors. This technology has been implemented in production vehicles following a significant development lead time.
Technavio’s analysts forecast the global automotive torque vectoring system market to grow at a CAGR of 31.27% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of global automotive torque vectoring system market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Torque Vectoring System Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive torque vectoring system market: BorgWarner, JTEKT, Magna Powertrain, International, Oerlikon Graziano, Univance and ZF.
Other Prominent Vendors in the market are: THE TIMKEN COMPANY and Prodrive.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is use of MR fluids by Ricardo in torque vectoring systems. Ricardo has advocated the use of the unique properties of magnetorheological (MR) fluid inside hydraulic pumps. This eliminates the need for electro-mechanical valves and other small moving parts. An MR is a type of oil that is composed of minute magnetic particles that react to magnetic fields. When electricity is passed through the hydraulic pump, these magnetic particles increase the viscosity of the fluid to create a magnetic field and align themselves perpendicular to the magnetic flux in the form of fibrous structures.”
According to the report, one driver in the market is increase in requirement of safety for all vehicles. The quest for automobile safety is one of the key drivers for the development of advanced automobile safety systems. Advanced safety and security features are no longer restricted to premium vehicles. Consumers are more aware about safety systems and technologies and are taking an interest in improving the safety systems of their vehicles. Electronic equipment, such as cameras and sensors, are being installed, even in entry-level vehicles. This has increased the demand for in-vehicle electronic devices to examine situations and prevent accidents. Driver assistance and safety systems applications include blind spot detection, forward collision warning (FCW), surround-view systems, lane departure warning systems (LDWS), and night vision systems (NVS). These safety systems examine road conditions and raise alerts on potential accidents.
Further, the report states that one challenge in market is high cost associated with active/dynamic torque vectoring systems. The growing preference for SUVs and crossovers fuels the market growth for torque vectoring systems. However, considering the fuel economy of SUVs and their price differentials, the sales of compact SUVs and crossovers are increasing significantly. OEMs are unwilling to install torque vectoring systems in compact SUVs as the price of the system does not justify the operational costs involved in procuring and installing a torque vectoring system. A typical torque vectoring system costs an average of $4,100, with the pricier variants moving around the $10,000 levels, depending on the car it is designed for. OEMs are currently introducing torque vectoring systems only for the top variants of SUVs. The premium prices of the vehicles would sufficiently cover the cost of procuring and installing a torque vectoring system.
BorgWarner, JTEKT, Magna Powertrain, International, Oerlikon Graziano, Univance ZF, THE TIMKEN COMPANY and Prodrive.
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