Torque Vectoring Market to Grow by USD 31.8 Billion by 2031

The global Torque Vectoring Market size was valued at $8.1 billion in 2021, and is projected to reach $31.8 billion by 2031, growing at a CAGR of 15.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.

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Torque vectoring refers to the force that is produced in the car's engine, which is evenly distributed among the wheels or axle to provide efficient control to the driver as well as to improve the driving experience of a car. This improves the car tire grip on the road, which prevents skidding and provides better control over the car at sharp corners. Moreover, there are different types of torque vectoring available that have very distinct characteristics and are highly dependent on the type of the vehicle.

The report offers a detailed segmentation of the global torque vectoring market based on clutch actuation type, vehicle type, propulsion, technology, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.

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One of the factors driving global torque vectoring market is the technological advancement by OEMs and other players operating in the value chain ecosystem. These OEMs players are major components/hardware providers, solutions, and services players. They rigorously emphasize on achieving optimal handling and independent left/right power distribution & torque to satisfy different driving environments. For instance, , Hyundai engineers are currently developing their in-house torque vectoring control software that works like a virtual limited slip differential.

However, the high cost of investment involved in torque vectoring is limiting the market growth. The costs mainly include components/hardware, software that are designed as per the vehicle power, and engine capacity. Moreover, the major manufacturers are investing heavily on research & development activities to build advanced torquing solutions wherein small & medium sized players are unable to invest owing to limited funds allocation for R&D. In such case, the small & medium size players are mostly operating at the regional level, further creating a potential barrier for the market growth. Moreover, a global shortage of semiconductors, chip sets, and other important components may temporarily restrain the market.

The key players profiled in this report include

The key market players analyzed in the global torque vectoring market report include, Friedrichshafen AG, Univance Corporation, Eaton Corporation, American Axle & Manufacturing, Inc., ZF BorgWarner, Dana Incorporated, Bosch Ltd, GKN Automotive Limited, jtekt corporation, Continental AG. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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The report offers a comprehensive analysis of the global torque vectoring market trends by thoroughly studying different aspects of the market, including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working toward the growth of the market. Furthermore, the report sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are profiled in the report along with the Porter's five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers & suppliers, threats of new players, and emergence of substitutes in the market.

Key Findings of the Study

By vehicle type, the passenger car segment emerged as the global leader in 2021 and is anticipated to be the fastest growing segment during the forecast period.

By propulsion, the all-wheel drive/four-wheel segment emerged as the global leader in 2021 and is anticipated to be the fastest-growing segment during the forecast period.

By technology, the passive torque vectoring system segment emerged as the global leader in 2021 and active torque vectoring system segment is anticipated to be the fastest-growing segment during the forecast period.

By clutch actuation type, hydraulic clutch segment emerged as the global leader in 2021 and is anticipated to be the fastest growing segment during the forecast period.

By region, the North America registered the highest market share in 2021 and Asia-Pacific is projected to show the highest growth rate during the forecast period.

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The involvement of environmental alliances and regulatory bodies to reduce carbon emission significantly across the globe, to promote sustainability and create a healthy environment, is creating lucrative business opportunities for the torque vectoring OEMs. According to the International Energy Agency, in 2021, global CO2 emissions from the transport sector rebounded, growing by 8% to nearly 7.7 Gt CO2. Owing to this, regulatory alliances are replacing fuel-based vehicles with electric vehicles to create a sustainable environment. In such a case, torque vectoring market players are innovating their products range to deliver efficient solutions for the EV market.

Regional Analysis:

By region, North America held the major share in 2021, garnering nearly two-fifths of the global torque vectoring market revenue. However, the Asia-Pacific region would showcase the fastest CAGR of 17.4% throughout the forecast period. The other provinces studied through the report include Europe, and LAMEA.

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