The torque vectoring market involves products that help improve vehicle dynamics by allowing independent control of torque to each wheel of a vehicle. Torque vectoring systems are being increasingly adopted in performance-oriented vehicles to provide better acceleration, braking, and cornering abilities. The advanced system helps enhance stability, reduces understeer and oversteer issues, and delivers more consistent traction on wet or slippery surfaces. Automakers are integrating torque vectoring as standard or optional features in high-end cars, SUVs, and sports cars to offer superior handling and ride comfort to buyers.
The torque vectoring market is estimated to be valued at USD 11.45 Bn in 2024 and is expected to reach USD 28.09 Bn by 2031, growing at a compound annual growth rate (CAGR) of 13.68% from 2024 to 2031.
Key players operating in the torque vectoring market are GKN Automotive, Eaton, American Axle, Dana, BorgWarner, ZF, JTEKT, and Continental AG.
The Torque Vectoring Market is expected to witness lucrative opportunities due to the rising production of luxury and sports vehicles equipped with advanced driver assistance and safety features. Stringent emission norms by regulatory bodies are also compelling automakers to enhance fuel efficiency and reduce emissions from vehicles, thereby boosting the adoption of torque vectoring technologies.The presence of major auto part manufacturers and continuous technological advancements will aid the market to expand globally. Major automotive hubs like North America, Europe, and China are working towards establishing local manufacturing plants to cater to the growing in-country demand.
Market driversA key driver for the torque vectoring market is the increasing demand for improved vehicle stability, handling, and agility. Torque vectoring allows independent torque distribution to help drivers maintain control in cornering situations, emergency maneuvers, and challenging road conditions. It enhances overall ride quality and comfort, especially for performance vehicles. This has prompted leading automakers to integrate these systems, fueling market growth.
PEST Analysis
Political: Changes in emissions standards and vehicle regulations could impact demand for torque vectoring systems.
Economic: A global economic slowdown may decrease automotive sales and subsequently demand for torque vectoring.
Social: Growing customer preference for enhanced safety, handling and performance features is increasing focus on torque vectoring.
Technological: Advances in electric motors, power electronics and vehicle dynamics control systems are enabling more sophisticated torque vectoring abilities. Software upgrades can enhance systems over time.The geographical regions where the torque vectoring market is currently concentrated in terms of value are North America and Europe. These regions have stringent vehicle emissions and safety regulations which OEMs meet using technologies like torque vectoring. Asia Pacific is also a major market currently due to high automotive production volumes in countries like China and Japan.The fastest growing regional market for torque vectoring is expected to be Asia Pacific from 2024 to 2031. This is because automotive sales in developing countries such as India and Indonesia are forecast to rise substantially. As disposable incomes increase across Asia Pacific, more drivers will demand superior handling and traction features offered by torque vectoring systems. Additionally, local OEMs are continuously enhancing their model lineups with advanced technologies.
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Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
Market Research Future (MRFR) predicted in the report that Torque Vectoring Market would cross USD 9.20 Billion at a CAGR of 12% by 2023.
The global market was valued at USD 4.59 Billion in 2017, according to the report.
The global torque vectoring market is showing huge growth potential as the automotive sector is getting remarkable traction from several countries.The industry is expected to grow notably in the Asia Pacific region, where developing countries are investing more to bring in foreign companies and boost their own economies.
The torque vectoring market size would also benefit from the inclusion of better technologies and investment in research facilities.
The passenger car segment has the maximum market share, whereas the light commercial vehicle is outpacing the former in terms of growth.By propulsion, the analysis of the torque vectoring market includes segments like rear-wheel drive, front-wheel drive, and all/four-wheel drive.
However, the rear-wheel-drive has the potential to register the fastest CAGR during the forecast period.By clutch actuation type, the review of the torque vectoring market includes discussion on hydraulic and electronic.
Overview:The Global Torque Vectoring Market is showing huge growth potential as the automotive sector is getting remarkable traction from several countries.
The torque vectoring market size would also benefit from the inclusion of better technologies and investment in research facilities.Get free sample pdf @ https://www.marketresearchfuture.com/sample_request/6654Segmentation:The Torque Vectoring Market Size has been analyzed on the basis of segments that include propulsion, electric vehicle (EV) type, clutch actuation type, vehicle type, and technology.
Fetched details from these segments would help in developing moves to increase the profit margin.By vehicle type, the study of the torque vectoring market gets segmented into passenger cars and light commercial vehicles.
The passenger car segment has the maximum market share, whereas the light commercial vehicle is outpacing the former in terms of growth.By propulsion, the analysis of the Torque Vectoring Market trends includes segments like rear-wheel drive, front-wheel drive, and all/four-wheel drive.
However, the rear-wheel-drive has the potential to register the fastest CAGR during the forecast period.By clutch actuation type, the review of the torque vectoring market includes discussion on hydraulic and electronic.
The hydraulic segment dominates the market at present, whereas the electronic segment is proceeding ahead with substantial speed.Browse complete report @ https://www.marketresearchfuture.com/reports/torque-vectoring-market-6654By EV, the global report on the torque vectoring market comprises hybrid electric vehicles (HEV)and battery electric vehicles (BEV).
