Torque Vectoring Market to Grow with a CAGR of 6.74% Through 2028
Increasing demand for
high-performance vehicles, where torque vectoring enhances stability and
handling are the factors driving market in the forecast period 2024-2028.
According to TechSci
Research report, “Torque Vectoring Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Torque Vectoring Market
stood at USD 10.83 Billion in 2022 and is anticipated to grow with a CAGR of 6.74%
in the forecast period, 2024-2028. The global
torque vectoring market has experienced significant growth in recent years,
driven by technological advancements and the increasing demand for
high-performance vehicles across various segments. Torque vectoring, a
technology designed to optimize vehicle dynamics by selectively distributing
torque to individual wheels, has become a key feature in enhancing traction,
stability, and overall driving performance.
One of the
primary drivers of the torque vectoring market is the rising consumer
preference for vehicles equipped with advanced driver assistance systems (ADAS)
and safety features. Torque vectoring systems contribute to improved vehicle
control during cornering, reducing the risk of skidding or loss of traction. As
automotive manufacturers focus on integrating innovative technologies to meet
stringent safety standards, torque vectoring has emerged as a crucial component
in enhancing overall vehicle stability and maneuverability.
The global push
toward vehicle electrification has also played a significant role in the
expansion of the torque vectoring market. Electric and hybrid vehicles leverage
torque vectoring technology to optimize power distribution between the wheels,
enhancing efficiency and performance. The adaptability of torque vectoring
systems makes them well-suited for electric vehicles, contributing to their
growing popularity in the automotive market.
Moreover, the
market has witnessed a shift from traditional mechanical torque vectoring
systems to more sophisticated electronic and software-based solutions. This
evolution allows for greater precision and adaptability, enabling vehicles to
dynamically respond to changing driving conditions. Automotive manufacturers
are investing in research and development to refine torque vectoring
algorithms, making them more responsive and effective in real-world driving
scenarios.
However,
challenges such as high initial costs, integration complexities, and the need
for standardized specifications persist in the torque vectoring market. The
competitive landscape is dynamic, with various companies striving to
differentiate their offerings through continuous innovation and strategic
partnerships.
In conclusion,
the global torque vectoring market is characterized by a robust demand for
improved vehicle dynamics, safety, and performance. As technology continues to
advance, and consumer preferences evolve, the market is expected to witness
further innovations, making torque vectoring an integral feature in the next
generation of vehicles across various segments. For the most up-to-date
information, it is recommended to refer to the latest industry reports and
market analysis.
Browse over market data Figures spread through 180 Pages and an in-depth TOC on " Global
Torque Vectoring Market.”
North America,
the torque vectoring market is influenced by a mix of consumer preferences and
regulatory standards. The region has a strong demand for performance-oriented
vehicles, particularly in the United States. Torque vectoring technology is
commonly integrated into high-performance sports cars and certain SUV models.
Additionally, the emphasis on safety features, including torque vectoring for
enhanced stability and control, aligns with the region's stringent safety
regulations.
Europe has been
a significant hub for torque vectoring technology, driven by the region's
affinity for luxury vehicles and advanced automotive technologies.
High-performance and luxury cars from European manufacturers often come
equipped with torque vectoring systems to improve handling and overall driving
experience. Stringent emissions standards and a strong focus on innovation in
the automotive sector contribute to the widespread adoption of torque vectoring
in this region.
The Asia-Pacific
region, with its rapidly growing automotive market, showcases varied trends in
torque vectoring adoption. Countries like Japan and South Korea, known for
their technological innovations, often integrate torque vectoring systems into
vehicles to enhance performance. In emerging markets such as China and India,
the demand for torque vectoring is influenced by the increasing consumer
preference for premium and high-performance vehicles.
Latin America
exhibits a diverse torque vectoring market influenced by economic conditions
and consumer preferences. While high-performance vehicles are popular in
certain segments, economic factors can impact the widespread adoption of
advanced technologies. The torque vectoring market in Latin America may also be
shaped by regional regulations and safety standards.
In the Middle
East and Africa, the torque vectoring market may be influenced by a mix of
factors, including the popularity of luxury vehicles and the demand for
off-road capabilities. The region's diverse terrain, especially in countries
with vast deserts or challenging landscapes, may drive the adoption of torque
vectoring in SUVs and high-end off-road vehicles.
Understanding
these regional insights is crucial for industry stakeholders as they navigate
market trends, tailor product offerings to regional preferences, and address
specific challenges unique to each market. It's important to note that market
dynamics can change over time, and for the most current information, consulting
the latest industry reports is recommended.
Major companies
operating in Global Torque Vectoring Market are:
- Univance corporation
- Eaton Corporation
- Bosch Ltd
- GKN Automotive Limited
- American Axle & Manufacturing,
Inc.
- Continental AG
- BorgWarner
- ZF Friedrichshafen AG
- Dana Incorporated
- Jtekt corporation
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“The torque vectoring market is poised for sustained
growth, driven by a confluence of factors including the global shift toward
electric vehicles, advancements in vehicle safety technologies, and the
continuous pursuit of enhanced driving experiences. As automotive manufacturers
increasingly prioritize innovation and performance, torque vectoring systems
are likely to play a pivotal role in shaping the next generation of vehicles,
contributing to improved efficiency, safety, and overall driving dynamics.
Industry stakeholders should closely monitor these trends, adapt to evolving
consumer preferences, and capitalize on opportunities arising from the
intersection of automotive electrification and advanced safety features,” said
Mr. Karan Chichi, Research Director with TechSci Research, a research-based
management consulting firm.
“Torque Vectoring Market
– Global Industry Size, Share, Trends Opportunity, and Forecast, Segmented By
Propulsion (Front Wheel Drive (FWD), Rear Wheel Drive (RWD), All Wheel
Drive/Four Wheel Drive (AWD/4WD)), By Technology (Active Torque Vectoring
System (ATVS), Passive Torque Vectoring System (PTVS)), By Vehicle Type (Passenger Cars, Light
Commercial Vehicles, Heavy Commercial Vehicles), By Region, Competition, 2018-2028”, has
evaluated the future growth potential of Global Torque Vectoring Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Torque Vectoring Market.
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