Press release
Torque Vectoring Market Set to Triple by 2030, Driven by EV Adoption and Performance Demand
Torque Vectoring Market
The global torque vectoring market is projected to grow from USD 10.11 billion in 2023 to nearly USD 30.12 billion by 2030, registering a robust CAGR of 16.88% . This growth is fueled by the rising demand for enhanced vehicle performance, safety, and the increasing adoption of electric vehicles (EVs).
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◆Competitive Landscape and Regional Demand
Key players in the torque vectoring market include BorgWarner Inc., Eaton, American Axle & Manufacturing, Inc., Dana Limited, JTEKT Corporation, Magna International Inc., Robert Bosch GmbH, Continental AG, GKN Automotive Limited, and ZF Friedrichshafen AG . These companies are focusing on product innovation, strategic partnerships, and expanding their global presence to meet the evolving needs of the automotive industry.
Country-Specific Developments
Growth Opportunities in Vietnam
Vietnam's automotive industry is experiencing growth, with increasing investments in vehicle manufacturing and infrastructure development. The government's focus on promoting EV adoption and enhancing vehicle safety standards presents opportunities for torque vectoring technology integration.
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Trends in Thailand
Thailand's position as a regional automotive hub, coupled with government incentives for EV production, is driving the adoption of advanced vehicle technologies, including torque vectoring systems. The country's commitment to becoming a leader in EV manufacturing supports this trend.
Consolidation Trends in Japan
Japan's automotive sector is characterized by technological innovation and collaboration. Major companies are investing in R&D to develop advanced torque vectoring systems, aiming to enhance vehicle performance and safety. Strategic partnerships and mergers are also observed to strengthen market positions.
Updation in South Korea
South Korea's focus on smart mobility and autonomous driving technologies is influencing the adoption of torque vectoring systems. Automakers are integrating these systems to improve vehicle handling and stability, aligning with the country's vision for advanced transportation solutions.
Market Growth in the United States
The United States remains a significant market for torque vectoring systems, driven by consumer demand for high-performance vehicles and stringent safety regulations. Automakers are incorporating these systems to enhance vehicle dynamics and meet regulatory standards.
Consolidation Trends in China
China's dominance in the EV market, supported by government policies and incentives, is propelling the adoption of torque vectoring systems. The country's focus on vehicle safety and performance is leading to increased integration of advanced technologies in automotive manufacturing.
Updation in Europe
Europe's stringent emissions regulations and commitment to vehicle safety are driving the adoption of torque vectoring systems. Automakers are investing in these technologies to meet regulatory requirements and enhance vehicle performance, particularly in the EV segment.
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◆ Torque Vectoring Market Segmentation
by Vehicle Type
1. Passenger Car
2. Light Commercial Vehicle
by Propulsion
1. Front wheel drive (FWD)
2. Rear wheel drive (RWD)
3. All wheel drive/Four wheel drive (4WD)
by Clutch Actuation Type
1. Hydraulic
2. Electronic
by EV Type
1. BEV
2. HEV
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◆ Torque Vectoring Market Key Players
1. JTEKT Corporation
2. Continental AG
3. GKN plc
4. BorgWarner Inc.
5. Schaeffler AG
6. ZF Friedrichshafen AG
7. Eaton Corporation
8. Magna International Inc.
9. Mitsubishi Electric Corporation
10. Dana Incorporated
11. American Axle & Manufacturing Holdings, Inc.
12. Robert Bosch GmbH
13. AVL List GmbH
14. Ricardo plc
15. Oerlikon Graziano
16. Infineon Technologies AG
17. Timken
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