Torque Vectoring Market Size, Share, Growth, Forecast 2024 To 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Torque Vectoring Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $19.32 billion In 2028 At A CAGR Of 15.7% :

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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Torque Vectoring Market Major Segments

Key Driver - Autonomous Vehicles Fueling The Torque Vectoring Market's Future Growth

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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Prominent Trend - Innovations In Torque Vectoring Technology With A Focus On Rear-Axle Torque Vectoring

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.

Torque Vectoring Market Players
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

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Largest And Fastest Growing Region In The Market
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

The Table Of Content For The Market Report Include:
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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