Torque Vectoring Market

Market Overview: 

The global torque vectoring market size reached US$ 8.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.7 Billion by 2028, exhibiting a growth rate (CAGR) of 15.7% during 2023-2028. The growing demand for improved vehicle handling and stability, increasing focus on fuel efficiency, and growing demand for electric and hybrid vehicles, represent some of the key factors driving the market.

Torque vectoring refers to a technology used in automobiles to improve their handling and stability. It is a system that can vary the power distribution between the wheels of a vehicle to optimize its performance. It works by using a combination of sensors, algorithms, and differentials to monitor the speed, acceleration, steering angle and other parameters of vehicles, and adjust the torque delivery to individual wheels accordingly. The system can apply more power to the outer wheels during cornering, thereby reducing understeer, and improving traction, stability and handling. It can also transfer power from a spinning wheel to one with a better grip, enhancing the vehicle's control and preventing skidding. Torque vectoring is commonly used in high-performance cars, such as sports cars and racing vehicles; however, it is also gaining traction in mainstream vehicles, including SUVs and crossovers. In recent years, the demand for torque vectoring has escalated as this technology improves safety and driving experience, making it easier and more comfortable to handle the vehicle on wet or slippery roads, or tight turns.

Torque Vectoring Market Trends:

One of the primary factors driving the market is the growing demand for improved vehicle handling and stability, especially in high-performance cars. Additionally, the increasing focus on fuel efficiency and emission reduction is creating a positive market outlook. Torque vectoring systems reduce the energy wasted during cornering and provide better traction on slippery surfaces, improving fuel economy and reducing emissions. Other than this, this technology can extend the life of tires, reducing waste and the environmental impact of tire disposal, thereby positively influencing the market growth. Besides this, with the growing demand for electric and hybrid vehicles, which require advanced technologies to manage the electric motor torque, torque vectoring systems are used to optimize the power delivery to the wheels, thus improving performance and efficiency. In line with this, the increasing popularity of advanced driver assistance systems (ADAS) is accelerating the product adoption rate as torque vectoring systems can be integrated with ADAS to provide better stability control and improve safety features such as lane departure warning, adaptive cruise control, and emergency braking. It can also enable semi-autonomous driving features, thus enhancing the driving experience and safety. Furthermore, the expanding automotive industry, especially in developing countries, the growing middle-class population and inflating disposable incomes are augmenting the demand for advanced vehicles with better handling and control.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global torque vectoring market report, along with forecasts at the global, regional, and country levels for 2023-2028. Our report has categorized the market based on technology, actuation type, vehicle type, and propulsion.

Technology Insights:

• Active Torque Vectoring System (ATVS)
• Passive Torque Vectoring System (PTVS)
   

The report has provided a detailed breakup and analysis of the torque vectoring market based on technology. This includes active torque vectoring system and passive torque vectoring system. According to the report, passive torque vectoring system (PTVS) represented the largest segment.

Clutch Actuation Type Insights:

• Hydraulic Clutch
• Electronic Clutch
   

A detailed breakup and analysis of the torque vectoring market based on the clutch actuation type has also been provided in the report. This includes hydraulic clutch and electronic clutch. According to the report, hydraulic clutch accounted for the largest market share.

Vehicle Type Insights:

• Passenger Car
• Light Commercial Vehicles
• Heavy Commercial Vehicles
   

The report has provided a detailed breakup and analysis of the torque vectoring market based on the vehicle type. This includes passenger car, light commercial vehicles, and heavy commercial vehicles. According to the report, passenger car represented the largest segment.

Propulsion Insights:

• Front Wheel Drive (FWD)
• Rear Wheel Drive (RWD)
• All Wheel Drive/Four Wheel Drive (AWD/4WD)
   

A detailed breakup and analysis of the torque vectoring market based on the propulsion has also been provided in the report. This includes front wheel drive (FWD), rear wheel drive (RWD), and all wheel drive/four wheel drive (AWD/4WD). According to the report, all wheel drive/four-wheel drive (AWD/4WD) accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for torque vectoring. Some of the factors driving the North America torque vectoring market included increasing demand for improved vehicle performance, advancements in automotive technology, and growing emphasis on safety

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global torque vectoring market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include American Axle & Manufacturing Inc., Borgwarner Inc., Eaton Corporation Plc, GKN Ltd. (Melrose Industries PLC), Magna International Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Torque Vectoring Market Report Scope:

Key Questions Answered in This Report:

• How has the global torque vectoring market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global torque vectoring market?
• What is the impact of each driver, restraint, and opportunity on the global torque vectoring market?
• What are the key regional markets?
• Which countries represent the most attractive torque vectoring market?
• What is the breakup of the market based on technology?
• Which is the most attractive technology in the torque vectoring market?
• What is the breakup of the market based on the clutch actuation type?
• Which is the most attractive clutch actuation type in the torque vectoring market?
• What is the breakup of the market based on the vehicle type?
• Which is the most attractive vehicle type in the torque vectoring market?
• What is the most attractive propulsion in the torque vectoring market?
• What is the breakup of the market based on the propulsion?
• What is the competitive structure of the global torque vectoring market?
• Who are the key players/companies in the global torque vectoring market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the torque vectoring market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global torque vectoring market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the torque vectoring industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.