What is the global market size of Torque Vectoring Market?

Global Torque Vectoring Market size was valued at USD 6.81 billion in 2021 and is poised to grow from USD 7.8 billion in 2022 to USD 23.04 billion by 2030, growing at a CAGR of 14.5% in the forecast period (2023-2030).

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 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.

Torque Vectoring Market Report Snapshots

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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).

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. '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 '

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.

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.

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Torque Vectoring Market Regional Insights

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