Global Torque Vectoring Market

Torque Vectoring Market Size, Share, Growth Analysis, By Component(Hardware and Services), By Technology(Active torque vectoring system (ATVS) and Passive torque vectoring system (PTVS)), By Clutch Actuation(Electric and Hydraulic), By Driving Wheel(Rear-wheel drive (RWD), and Front-wheel drive (FWD), All-wheel drive/four-wheel drive (AWD/4WD)), By Vehicle(Commercial vehicles, and Off road vehicle), By Propulsion(Diesel/Petrol/CNG and Electric vehicle), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25E2112 | Region: Global | Published Date: February, 2024
Pages: 223 | Tables: 162 | Figures: 74

Torque Vectoring Market News

  • American Axle & Manufacturing, Inc. made headlines in March 2022 upon receiving the prestigious General Motors Overdrive Award, acknowledging the company's excellence in areas like sustainability, innovation, connectivity, overall business cost, launch efficiency, and safety standards. This recognition not only affirmed their commitment but also opened doors for potential collaborations and partnerships with other entities. Such accolades play a pivotal role in augmenting the brand value of the company within the market.
  • In May 2022, Eaton disclosed its involvement in the Goldman Sachs Industrials and Materials Conference. This strategic participation serves as a significant opportunity for the company to gain exposure on a prominent platform. By showcasing its expertise and portfolio at such a high-profile event, Eaton aims to attract potential customers seeking superior power management products and services. This participation aligns with their objectives to bolster market visibility, foster client connections, and ultimately expedite revenue growth by leveraging the visibility and networking potential of the conference.
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Torque Vectoring Market size was valued at USD 6.81 billion in 2021 and is poised to grow from USD 7.8 billion in 2022 to USD 23.04 billion by 2030, growing at a CAGR of 14.5% in the forecast period (2023-2030).

The competitive environment of the Torque Vectoring Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Univance corporation', 'Eaton Corporation', 'Bosch Ltd', 'GKN Automotive Limited', 'American Axle & Manufacturing, Inc.', 'Continental AG', 'BorgWarner', 'ZF Friedrichshafen AG', 'Dana Incorporated', 'Jtekt corporation', 'Continental AG', 'Schaeffler AG', 'Magna International Inc.', 'Mitsubishi Electric Corporation', 'Dana Incorporated'

The torque vectoring market has experienced a profound impact due to the worldwide transition towards electric and hybrid vehicles. This paradigm shift in the automotive industry, with a concentrated effort by automakers to advance electric and hybrid platforms, has underscored the indispensability of torque vectoring technology. In the context of electric and hybrid vehicles, torque vectoring plays a crucial role in optimizing power delivery, improving energy efficiency, and elevating the overall driving dynamics of these eco-friendly vehicles.

The rising consumer demand for high-performance vehicles, particularly within segments like sports cars and luxury automobiles, has been a significant catalyst in propelling the integration and adoption of sophisticated torque vectoring systems. These systems play a pivotal role in enhancing the handling dynamics and overall performance of such vehicles, contributing substantially to an elevated driving experience for consumers. By effectively managing torque distribution among wheels, torque vectoring systems bolster the agility, precision, and responsiveness of these high-performance vehicles, ensuring superior handling, cornering prowess, and overall driving satisfaction for enthusiasts and consumers seeking an elevated driving experience.

Anticipated growth in North America is strongly influenced by several key drivers. The region's burgeoning demand for high-performance and luxury vehicles serves as a primary catalyst, propelling the adoption of torque vectoring systems to enhance driving dynamics and performance. Additionally, there's a growing emphasis on safety and efficiency within the automotive sector, further incentivizing the integration of these advanced technologies. North America's automotive landscape benefits from the presence of major manufacturers and suppliers in the region,

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Global Torque Vectoring Market

Report ID: SQMIG25E2112