Global Torque Vectoring Market to Reach $71.8 Billion by 2030
The global market for Torque Vectoring estimated at US$18.3 Billion in the year 2023, is expected to reach US$71.8 Billion by 2030, growing at a CAGR of 21.6% over the analysis period 2023-2030. All-Wheel Drive / Four-Wheel Drive Torque Vectoring, one of the segments analyzed in the report, is expected to record a 24.1% CAGR and reach US$42.5 Billion by the end of the analysis period. Growth in the Front-Wheel Drive Torque Vectoring segment is estimated at 19.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4.6 Billion, While China is Forecast to Grow at 27.4% CAGR
The Torque Vectoring market in the U.S. is estimated at US$4.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$20.3 Billion by the year 2030 trailing a CAGR of 27.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 15.1% and 18.4% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 16.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$12.7 Billion by the year 2030.
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