The Torque Vectoring Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Torque Vectoring Global Market Report 2024, 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..
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.
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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)
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 report table of contents includes:
- Executive Summary
- Torque Vectoring Market Characteristics
- Torque Vectoring Market Trends And Strategies
- Torque Vectoring Market – Macro Economic Scenario
- Global Torque Vectoring Market Size and Growth
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- Global Torque Vectoring Market Competitive Benchmarking
- Global Torque Vectoring Market Competitive Dashboard
- Key Mergers And Acquisitions In Torque Vectoring Market
- Torque Vectoring Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Robert Bosch GmbH
- Tesla Inc.
- Audi AG
- ZF Friedrichshafen AG
- Continental AG
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