Authored By: Sarah
03 Sep 2024

Torque Vectoring Market Size to grow by USD 13435.9 million between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Torque Vectoring Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges. The global electric vehicle (EV) market experienced substantial growth in 2021, with deliveries exceeding 7 million units, a significant increase from the previous year. Plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) both recorded impressive sales gains, particularly in key markets like China and the United States, as well as several European countries. BEVs are projected to lead the market's growth during the forecast period, accounting for a substantial portion of overall EV sales. China remained the global leader in EV sales volume, with Europe and the US following closely behind in terms of BEV deliveries.

Key Highlights

Growth Projections

The global torque vectoring market  size is estimated to grow by USD 13435.9 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  20.62% during the forecast period. Improved safety and vehicle dynamics is driving market growth, with a trend towards growing demand for electric vehicles  However, growing mobility services  poses a challenge.Key market players include American Axle and Manufacturing Holdings Inc., BorgWarner Inc., Continental AG, Dana Inc., Eaton Corp. Plc, Ford Motor Co., Hyundai Motor Co., JTEKT Corp., Linamar Corp., Magna International Inc., Melrose Industries Plc, Ricardo Plc, Robert Bosch GmbH, Schaeffler AG, Xtrac Ltd., and ZF Friedrichshafen AG.

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Major Findings

  • The Torque Vectoring market is experiencing significant growth due to the increasing demand for enhanced safety and vehicle dynamics. Torque vectoring technology optimizes the distribution of engine torque to the wheels, thereby improving traction and stability, especially during cornering. This results in superior handling and reduced risk of skidding or loss of control, making it an essential feature for automakers prioritizing safety and performance.

  • The globalization of the automobile industry is driving significant growth in the demand for automatic transmission vehicles in the Asia Pacific region. As more countries adopt international standards and production processes, consumers in APAC are increasingly seeking the convenience and efficiency offered by torque vectoring technology. This trend is expected to continue, as automatic transmissions become increasingly common in both domestic and imported vehicles. Torque vectoring technology, which optimizes engine power distribution for improved traction and stability, is a key feature of automatic transmissions and is particularly valuable in the diverse and often challenging road conditions found in the Asia Pacific market. As a result, the torque vectoring market in APAC is poised for robust growth in the coming years.

  • The Torque Vectoring market is experiencing significant growth due to the increasing demand for advanced mobility services. Torque vectoring technology, which enables vehicles to distribute engine power to each wheel for improved traction and stability, is becoming increasingly popular in the automotive industry. This technology is particularly beneficial in electric and hybrid vehicles, as it enhances their performance and efficiency. Moreover, the rising trend of autonomous and connected vehicles is further fueling the market growth, as torque vectoring technology can contribute to better control and safety in these vehicles. Overall, the Torque Vectoring market is expected to witness robust growth in the coming years, driven by the convergence of mobility services and advanced technologies.

  • The integration of torque vectoring technology in electric vehicles (EVs) comes with significant costs and complexities in comparison to conventional vehicles. The transmission systems in EVs are more intricate due to the need for power distribution to individual wheels, increasing the overall expense. This complexity and cost make torque vectoring a more expensive option for EV manufacturers, potentially limiting its widespread adoption.

Market Research Overview

The global automotive components and equipment market encompasses businesses producing parts and accessories for various vehicle types, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, the market size is determined by the consolidated revenue generated by automotive components and equipment manufacturers. Key growth drivers in the automotive parts and equipment industry include the surge in electronic components utilization in automobiles. The increasing sales of EVs, motorcycles, and PCs have significantly boosted the demand for electronic control units (ECUs) and other electrical components over the past decade.

The Torque Vectoring Market is experiencing significant growth, fueled by the Improved safety and vehicle dynamics. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Regional Insights

The Torque Vectoring market is experiencing significant growth due to the increasing demand for enhanced vehicle stability and improved driving dynamics. Torque vectoring technology, which optimally distributes engine power to each wheel for better traction and control, is a key differentiator in high-performance vehicles. Automakers are investing heavily in this technology to meet consumer expectations for safer, more efficient, and dynamic driving experiences. The market is expected to expand at a robust CAGR during the forecast period.

Research Analysis Overview

The Torque Vectoring Market is witnessing significant growth due to the increasing demand for improved traction, reduced understeer, and enhanced cornering performance in various vehicle segments. Torque Vectoring systems use differentials, algorithms, and sensors to optimize torque distribution for better handling and stability. These systems are increasingly being adopted in hybrid vehicles, electric vehicles, and even heavy commercial and light commercial vehicles. Active Torque Vectoring systems use electronic clutches or hydraulic clutches for clutch actuation, allowing for precise torque distribution to individual wheels. This results in improved propulsion and reduced carbon emissions, making it an attractive solution for powertrain electrification and clean energy initiatives. Torque Vectoring is not limited to luxury cars and all-wheel-drive vehicles but is also gaining popularity in off-road vehicles and heavy-duty trucks for improved performance optimization. The market is further expected to grow with the integration of advanced connectivity and autonomous driving technologies. Overall, the Torque Vectoring Market is poised for significant growth in the coming years, driven by the increasing demand for improved vehicle performance, reduced carbon emissions, and the electrification of powertrains.

About Technavio                                                                        

Technavio is a global market research company offering comprehensive reports and insights on various industries. Our research helps businesses make informed decisions by providing actionable data and trends. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions. Technavio is one of the most influential market research and advisory firms in the world. We work with business and technology leaders to provide cutting-edge market research and insights to companies. 

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Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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