USD 7.8 billion
Torque Vectoring Market Size, Share, Growth Analysis, By Component (Hardware, Services), By Technology (Active Torque Vectoring System (ATVS), Passive Torque Vectoring System (PTVS)), By Clutch Actuation (Electric, Hydraulic), By Driving Wheel, By Vehicle Type, By Propulsion, By Region - Industry Forecast 2024-2031.
Report ID:
SQMIG25E2112 |
Region:
Global |
Published Date: November, 2024
Pages:
223
|Tables:
162
|Figures:
74
Torque Vectoring Market Insights
Global Torque Vectoring Market size was valued at USD 7.8 billion in 2022 and is poised to grow from USD 8.1 billion in 2023 to USD 24.2 billion by 2031, growing at a CAGR of 15.4% during the forecast period (2024-2031).
Torque vectoring is a cutting-edge technology integrated into vehicles to elevate their handling, stability, and overall performance by adeptly managing the distribution of torque among the wheels.
Its operational mechanism involves selectively adjusting torque allocation to different wheels based on an array of factors such as speed, steering angle, road conditions, and traction. This technology achieves its finesse by strategically applying more torque to specific wheels while reducing torque to others.
By engaging in this precise braking or acceleration of individual wheels, torque vectoring significantly enhances a vehicle's cornering capabilities, mitigates issues like understeer or oversteer, prevents wheel slippage, and bolsters traction and stability, particularly in challenging scenarios like navigating wet or slippery roads, off-road terrains, or executing high-speed maneuvers.
The implementation of torque vectoring encompasses diverse methods, spanning mechanical, hydraulic, electric, or electronic systems, each contributing uniquely to optimize a vehicle's performance and handling dynamics.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
AWD/4WD
Fastest Growth
rear-wheel drive (RWD)
Growth Rate
15.4% CAGR
Global Torque Vectoring Market ($ Bn)
Country Share for North America Region (%)
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Torque Vectoring Market Segmental Analysis
Global Torque Vectoring Market is segmented by Component, Technology, Clutch Actuation Type, Vehicle type, Propulsion and region. Based on component, the market is segmented into Hardware and Services. Based on Technology, the market is segmented into Active torque vectoring system (ATVS) and Passive torque vectoring system (PTVS). Based on Clutch Actuation Type, the market is segmented into Electric and Hydraulic. Based on Driving Wheel, the market is segmented into Rear-wheel drive (RWD), and Front-wheel drive (FWD), All-wheel drive/four-wheel drive (AWD/4WD). Based on Vehicle type, the market is segmented into Commercial vehicles, and Off-road vehicle. Based on Propulsion, the market is segmented into Diesel/Petrol/CNG and Electric vehicle. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Driving Wheel
The AWD/4WD segment stands poised to hold the dominant share within the torque vectoring market, largely propelled by the surging demand for SUVs and various off-road vehicle categories. Despite a comparatively smaller market share, the FWD segment is also anticipated to experience incremental growth, attributed to ongoing innovations and advancements by manufacturers aiming to develop and introduce new torque vectoring systems tailored for these front-wheel-drive vehicles.
The rear-wheel drive (RWD) segment holds a notable position within the torque vectoring market, particularly in the realm of high-performance vehicles. RWD configurations, known for their inherent balance and handling characteristics, have become a focal point for integrating torque vectoring technology. By employing torque vectoring systems, RWD vehicles can optimize power distribution to the rear wheels, enhancing traction, stability, and cornering capabilities. This segment's emphasis on precision handling and dynamic driving experiences has fueled the integration of advanced torque vectoring mechanisms, contributing significantly to improving overall vehicle performance and driver engagement.
Analysis by Vehicle Type
The passenger vehicle segment is poised to witness a substantial growth rate, projected at a CAGR of 17.34% throughout the forecast period in 2022. This surge is primarily attributed to several factors distinguishing passenger vehicles, which commonly boast more sophisticated features and systems compared to their light commercial counterparts. Moreover, the escalating consumer demand for high-performance vehicles further fuels this growth trajectory. Additionally, the anticipated proliferation of torque vectoring systems integrated with Advanced Driver Assistance Systems (ADAS) serves as a significant driver specifically within the passenger car segment, contributing significantly to the increasing popularity and adoption of these technologies in this vehicle category.
The commercial vehicle segment plays a distinctive role in the torque vectoring market, albeit with different emphases compared to passenger or high-performance vehicles. While historically less prominent in adopting advanced driving technologies such as torque vectoring, there's a growing interest in integrating such systems within specific commercial vehicle categories. For instance, certain heavy-duty trucks or delivery vehicles benefit from torque vectoring's potential to enhance stability, especially when navigating challenging terrains or carrying heavy loads.
Global Torque Vectoring Market By Vehicle Type
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Torque Vectoring Market Regional Insights
Anticipated growth in North America is strongly influenced by several key drivers. The region's burgeoning demand for high-performance and luxury vehicles serves as a primary catalyst, propelling the adoption of torque vectoring systems to enhance driving dynamics and performance. Additionally, there's a growing emphasis on safety and efficiency within the automotive sector, further incentivizing the integration of these advanced technologies. North America's automotive landscape benefits from the presence of major manufacturers and suppliers in the region,
The Asia Pacific torque vectoring market represents a swiftly burgeoning sector at the forefront of leveraging advanced automotive technology to enhance vehicle stability and handling dynamics. At its core, torque vectoring technology empowers individual wheels to receive distinct and variable amounts of torque, a mechanism that profoundly enhances overall vehicle performance and handling characteristics. This innovative technology enables precise control over torque distribution, allowing for optimized traction, improved cornering capabilities, and enhanced stability during various driving conditions.
Global Torque Vectoring Market By Region
- Largest
- Fastest
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Torque Vectoring Market Dynamics
Drivers
Rising Popularity of Electric and Hybrid Vehicles
- The torque vectoring market has experienced a profound impact due to the worldwide transition towards electric and hybrid vehicles. This paradigm shift in the automotive industry, with a concentrated effort by automakers to advance electric and hybrid platforms, has underscored the indispensability of torque vectoring technology. In the context of electric and hybrid vehicles, torque vectoring plays a crucial role in optimizing power delivery, improving energy efficiency, and elevating the overall driving dynamics of these eco-friendly vehicles.
Restraints
Complexity of the System
- The intricacies of torque vectoring systems demand a specialized skill set and in-depth expertise in their design, development, and seamless integration within vehicles. This level of complexity poses a significant barrier for smaller entities aiming to enter the market, as it necessitates substantial resources and know-how. The requirement for advanced technological proficiency and specialized knowledge creates a distinct challenge for newer or smaller players, impeding their ability to effectively compete with established industry leaders who often possess the resources, experience, and infrastructure to navigate the complexities of torque vectoring system development and implementation. As a result, the barrier to entry into this sector remains high, limiting the competitive landscape predominantly to established players with the requisite capabilities and experience in this specialized domain.
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Torque Vectoring Market Competitive Landscape
The competitive environment of the Global Torque Vectoring Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry.
Top Player’s Company Profiles
- GKN Automotive
- American Axle
- Dana
- Borgwarner
- Eaton
- ZF
- Mitsubishi Heavy Industries
- JTEKT
- Magna
- Bosch
- Univance
- Schaeffler
- Timken
- Haldex
- Continental
- Drako
- Prodrive
- Ricardo
- Oerlikon Graziano
- General Motors
Recent Developments
- American Axle & Manufacturing, Inc. made headlines in March 2022 upon receiving the prestigious General Motors Overdrive Award, acknowledging the company's excellence in areas like sustainability, innovation, connectivity, overall business cost, launch efficiency, and safety standards. This recognition not only affirmed their commitment but also opened doors for potential collaborations and partnerships with other entities. Such accolades play a pivotal role in augmenting the brand value of the company within the market.
- In May 2022, Eaton disclosed its involvement in the Goldman Sachs Industrials and Materials Conference. This strategic participation serves as a significant opportunity for the company to gain exposure on a prominent platform. By showcasing its expertise and portfolio at such a high-profile event, Eaton aims to attract potential customers seeking superior power management products and services. This participation aligns with their objectives to bolster market visibility, foster client connections, and ultimately expedite revenue growth by leveraging the visibility and networking potential of the conference.
Torque Vectoring Key Market Trends
- The rising consumer demand for high-performance vehicles, particularly within segments like sports cars and luxury automobiles, has been a significant catalyst in propelling the integration and adoption of sophisticated torque vectoring systems. These systems play a pivotal role in enhancing the handling dynamics and overall performance of such vehicles, contributing substantially to an elevated driving experience for consumers. By effectively managing torque distribution among wheels, torque vectoring systems bolster the agility, precision, and responsiveness of these high-performance vehicles, ensuring superior handling, cornering prowess, and overall driving satisfaction for enthusiasts and consumers seeking an elevated driving experience.
Torque Vectoring Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. The automotive industry has witnessed a steady rise in the demand for torque vectoring technologies and systems in recent years, fueled by various factors contributing to enhanced vehicle handling, safety, and performance. Factors such as the surge in all-wheel drive (AWD) and electric vehicle (EV) adoption, coupled with the necessity for refined vehicle dynamics, have propelled this trend. According to a report from MMR, the global torque vectoring market size is anticipated to experience a compound annual growth rate (CAGR) of 16.88% throughout the forecast period. This significant expansion is primarily attributed to several key drivers, including the increasing consumer preference for advanced driving assistance systems (ADAS), the escalating popularity of electric and hybrid vehicles, and the emerging practice of integrating torque vectoring technology with other safety and performance features in automobiles.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.8 billion |
| Market size value in 2031 | USD 24.2 billion |
| Growth Rate | 15.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Torque Vectoring Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Torque Vectoring Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Torque Vectoring Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Torque Vectoring Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Torque Vectoring Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Torque Vectoring Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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