The torque vectoring global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Torque Vectoring Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The torque vectoring market size has grown rapidly in recent years. It will grow from $9.17 billion in 2023 to $10.76 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The growth in the historic period can be attributed to improved traction and stability, safety enhancement, market competitiveness, consumer demand for enhanced driving dynamics, environmental and fuel efficiency concerns..
The torque vectoring market size is expected to see rapid growth in the next few years. It will grow to $19.32 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to autonomous vehicle development, urban mobility solutions, regulatory compliance and safety standards, cybersecurity integration, rise of rear-wheel torque vectoring.. Major trends in the forecast period include advanced sensor technologies for precise control, ai-based torque vectoring algorithms, integration with vehicle stability control, customizable driver settings, collaboration with tire manufacturers..
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Scope Of Torque Vectoring Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Torque Vectoring Market Overview
Market Drivers –
The growing trend of autonomous vehicles is expected to boost the growth of the torque vectoring market going forward. An autonomous vehicle refers to a vehicle that can function independently of human control. It uses various sensors, such as radar, lidar, and cameras, to create a map of its surroundings. Torque vectoring helps autonomous vehicles become more energy efficient by minimizing the power lost to wheel slide and other inefficiencies. For instance, in December 2022, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, there were projected to be 3.5 million autonomous vehicles on American roads by 2025. Further, 4.5 million autonomous vehicles will be on the road by 2030. Therefore, the growing trend of autonomous vehicles is driving the growth of the torque vectoring market.
Market Trends –
Major companies operating in the torque vectoring market are focused on developing new technologies, such as rear-axle torque vectoring, to provide reliable services to customers. Rear-axle torque vectoring is a system that distributes torque between the rear wheels of a vehicle to improve handling and stability by using a variety of sensors to monitor the vehicle’s speed, steering angle, and lateral acceleration. For instance, in May 2021, Volkswagen AG, a Germany-based automobile manufacturer, launched the 4Motion all-wheel-drive system with rear-axle torque vectoring. The new torque vectoring system employs a rear differential with two multi-plate clutches that can channel up to 100% of the rear torque to a single rear wheel. The DCC adaptive damping system’s cornering performance, the electronic differential locking (XDS), and the torque vectoring axle have all been integrated into the Vehicle Dynamics Manager.
The torque vectoring market covered in this report is segmented –
1) By Clutch Actuation Type: Hydraulic Clutch, Electronic Clutch
2) By Vehicle Type: Light Commercial Vehicles, Heavy Commercial Vehicles, Passenger Car
3) By Propulsion: Front Wheel Drive (FWD), Rear Wheel Drive (RWD), All Wheel Drive (AWD) Or Four Wheel Drive (4WD)
4) By Technology: Active Torque Vectoring System (ATVS), Passive Torque Vectoring System (PTVS)
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Regional Insights –
North America was the largest region in the torque vectoring market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the torque vectoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the torque vectoring market report are Robert Bosch GmbH, Tesla Inc., Audi AG, ZF Friedrichshafen AG, Continental AG, Magna International Inc., Eaton Corporation, Mitsubishi Motors Corporation, Schaeffler AG, BorgWarner Inc., JTEKT Corporation, Denso Corporation, Dana Incorporated, Linamar Corporation, GKN Automotive Limited, American Axle & Manufacturing Inc., Haldex Ltd., Ricardo Plc, Univance Corporation, Prodrive Holdings Ltd., Getrag B.V. & Co. KG, Koenigsegg Automotive AB, Modelon AB, Drako Motors Inc., Hofer Powertrain GmbH
Table of Contents
1. Executive Summary
2. Torque Vectoring Market Report Structure
3. Torque Vectoring Market Trends And Strategies
4. Torque Vectoring Market – Macro Economic Scenario
5. Torque Vectoring Market Size And Growth
…..
27. Torque Vectoring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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