Torque vectoring refers to the force that is produced in the car’s engine, which is evenly distributed among the wheels or axle to provide efficient control to the driver as well as to improve the driving experience of a car. This improves the car tire grip on the road, which prevents skidding and provides better control over the car at sharp corners. Moreover, there are different types of torque vectoring available that have very distinct characteristics and are highly dependent on the type of the vehicle.
The global torque vectoring market generated $8.1 billion in 2021, and is estimated to reach $31.8 billion by 2031, witnessing a CAGR of 15.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Segment Review:
By vehicle type, the Passenger Car segment contributed to around three-fifths of the global torque vectoring market share in 2021, and is projected to rule the roost by 2031. The same segment would also display the fastest CAGR of 16.3% throughout the forecast period. The other segments assessed through the study include light commercial vehicles, and heavy commercial vehicles segments.
By propulsion, the all-wheel drive/four-wheel drive (AWD/4WD) segment contributed to nearly three-fifths of the global torque vectoring market share in 2021, and is projected to rule the roost by 2031. The same segment would also cite the fastest CAGR of 16.5% throughout the forecast period. The report also discusses the front wheel drive (FWD), and rear wheel drive (RWD) segments.
By technology, the passive torque vectoring system (PTVS) segment contributed to more than three-fifths of the global torque vectoring market share in 2021, and is projected to maintain its dominance by 2031. The active torque vectoring system (ATVS) segment, however, would display the fastest CAGR of 17.5% throughout the forecast period.
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Regional Insights:
By region, North America held the major share in 2021, garnering nearly two-fifths of the global torque vectoring market revenue. However, the Asia-Pacific region would showcase the fastest CAGR of 17.4% throughout the forecast period. The other provinces studied through the report include Europe, and LAMEA.
Key Industry Players:
The key market players analyzed in the global torque vectoring market report include, Friedrichshafen AG, Univance Corporation, Eaton Corporation, American Axle & Manufacturing, Inc., ZF BorgWarner, Dana Incorporated, Bosch Ltd, GKN Automotive Limited, jtekt corporation, Continental AG. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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The report offers a comprehensive analysis of the global torque vectoring market trends by thoroughly studying different aspects of the market, including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working toward the growth of the market. Furthermore, the report sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers & suppliers, threats of new players, and emergence of substitutes in the market.
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