Torque Vectoring Market Overview:
The torque vectoring market will touch USD 9.20 billion at a healthy 12% CAGR in the forecast period 2023- 2032, as per the new Market Research Future (MRFR) report. Torque vectoring plays an imperative part to source and harness wheel power. By improving performance, grip, stability, and handling, it gives more controlling access to the driver.
Various factors are fuelling the global torque vectoring market growth. According to the recent MRFR market estimates, such factors include the growing need for high-performance and luxury vehicles with safety stipulations to abide by, technological brilliance, and concept and electric cars predicted to launch innovation.
On the contrary, long production cycle time and the impact of the COVID-19 impact may hamper the global torque vectoring market growth over the forecast period.
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Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global torque vectoring market based on technology, electric vehicle (EV) type, clutch actuation type, propulsion, and vehicle type.
By vehicle type, the global torque vectoring market is segmented into light commercial vehicle and passenger car. Of these, the passenger car will lead the market over the forecast period.
By propulsion, the global torque vectoring market is segmented into all/four-wheel drive, rear wheel drive, and front wheel drive. Of these, the front wheel drive segment will dominate the market over the forecast period. The rear wheel drive segment will grow at the fastest pace over the forecast period.
By clutch actuation type, the torque vectoring market is segmented into electronic and hydraulic. Of these, the hydraulic segment will spearhead the market over the forecast periods and the electronic segment will develop at a high CAGR in the forecast period.
By electric vehicle type, the torque vectoring market is segmented into hybrid electric vehicle (HEV) and battery electric vehicle (BEV). Of these, the BEV segmented will have the lions share in the market over the forecast period, and the HEV segment will grow at the fastest pace over the forecast period.
By technology, the torque vectoring market is segmented into passive torque vector system and active torque vector system. Of these, the passive torque vector system will have the largest share in the market over the forecast period and the active torque vector system will grow at the fastest CAGR over the forecast period.
Key Players
Key contenders profiled in the torque vectoring market report include Continental AG (Germany), Oerlikon Graziano (Italy), Ricardo (UK), Timken (US), Schaeffler (Germany), Univance (Germany), Bosch (Germany), Getrag (Canada), JTEKT (Japan), ZF (Germany), Eaton (Ireland), BorgWarner (US), Dana (US), American Axle (US), and GKN (UK), among others.
Industry Updates
March 2021- The 2022 Infiniti QX60 will come with predictive AWD and torque vectoring.
Regional Analysis
By region, the global torque vectoring market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), the Americas, and the Middle East & Africa (MEA). Of these, the Americas will lead the market over the forecast period. The presence of superior infrastructure, unparalleled zonal technological brilliance, the presence of established infrastructure, unparalleled technological expertise, significance of torque vectoring in the automotive industry, increasing production of automotive, people’s high disposable income, expansive urban population, emergence of the latest technologies in the auto industry, and high demand for safety and comfort in vehicles are adding to the global torque vectoring market growth in the region.
In Europe, the torque vectoring market is predicted to have the second-largest share over the forecast period. The presence of several automobile behemoths, substantial investments in R&D, and increasing business potentials are adding to the global torque vectoring market growth in the region.
In the APAC region, the torque vectoring market is predicted to have healthy growth over the forecast period. High business potential, surge in R&D efforts by top vendors, increasing fleet and traffic, increasing use of new production facilities, and rising automotive sales in China and India are adding to the global torque vectoring market growth in the region.
In the MEA, the torque vectoring market is predicted to have sound growth over the forecast period.
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