Torque Vectoring Market Research Report Data By Wheel Drive (Front Wheel Drive (FWD), Rear Wheel Drive (RWD), and Rear Wheel Drive (RWD)), Technology (Active Torque Vectoring System and Passive Torque Vectoring System), Propulsion (Battery Electric Vehicl

Torque Vectoring Market Research Report Data By Wheel Drive (Front Wheel Drive (FWD), Rear Wheel Drive (RWD), and Rear Wheel Drive (RWD)), Technology (Active Torque Vectoring System and Passive Torque Vectoring System), Propulsion (Battery Electric Vehicle (BEV), Hybrid Electric Vehicles (HEVs), and Plug-in Hybrid Electric Vehicles (PHEVs)), Vehicle Type (Passenger Cars and Commercial Vehicles), Application (On-road and Off-road), And By Region (North America, Europe, Asia-Pacific, and Rest of the World) –Global Forecast Till 2030

Market Synopsis

Over the course of the study period, the torque vectoring industry is expected to develop at a compound annual growth rate (CAGR) of 13.26%. The global torque vectoring market is expanding steadily because of the growing demand for off-road vehicles and luxury cars internationally.

Moreover, the market is anticipated to be driven by rising sales of electric vehicles during the duration of the forecast year. In a differential, torque vectoring is a method that transfers torque to the wheel as needed. The car may now significantly alter the torque applied to each wheel thanks to this technology. In all-wheel drive (AWD) automobiles, the most recent torque distribution system has gained a lot of popularity recently. Since the technology is still in its early stages of development, more cars should soon contain it. The main application of this technology is to grip the road for improved vehicle handling and launch. Racing was where torque vectoring differential's basic use first appeared during the early stages of technological development.

Insights On Market Segments

The Torque Vectoring Market has been divided into three segments based on wheel drive: Front Wheel Drive (FWD), Rear Wheel Drive (RWD), and All-Wheel Drive (AWD).

The market has been divided into Active Torque Vectoring System and Passive Torque Vectoring System segments based on the technology.

The market has been divided into three categories: plug-in hybrid electric vehicles, hybrid electric vehicles, and battery electric vehicles, depending on the type of propulsion.

The market has been divided into passenger cars and commercial vehicles based on the kind of vehicle.

The torque vectoring market has been divided into two segments: off-road and on-road, based on application.

Regional Perspectives

Asia-Pacific accounted for 42.7% of the Torque Vectoring market's revenue in 2022, and this dominance is anticipated to continue throughout the forecast period. Asia-Pacific's growing need for electric vehicles has resulted in significant growth for the automotive industry. Batteries are used to store the electrical energy that powers battery electric cars, also referred to as all-electric vehicles or E.V.s. China is the market leader for torque vectoring in the Asia-Pacific region.

The growing population of North America and the trend of most people relocating to cities in quest of better employment prospects and living conditions have a substantial impact on the automobile industry sector. The use of torque vectoring systems is growing in urbanized areas, which supports the market's expansion, as people move toward sophisticated safety automobiles with contemporary torque vectoring systems guaranteeing optimal safety and efficiency.

Countries with automotive industry include Germany, the UK, France, and Spain; these countries collectively account for a sizable share of the European automotive market. OEMs from Germany (BMW AG), Germany (Daimler AG), Italy (Fiat), and France (PSA/Peugeot-Citroen) dominate the market. Because of the market's need for torque vectoring, Germany is expected to dominate Europe because of its large producers and robust demand.

Saudi Arabia dominates the torque vectoring markets in the Middle East and Africa. The dominance of the market is attributed to the developing infrastructure, increased trade, and rising demand for luxury cars in developing nations like Saudi Arabia and the United Arab Emirates. The Middle East and Africa are dominated by Saudi Arabia because of the high demand.

Principal Players

Robert Bosch GmbH, Continental AG, Magna International Inc., Schaeffler AG, Mitsubishi Motors Corporation, BorgWarner Inc., GKN PLC, ZF Friedrichshafen AG, American Axle & Manufacturing, Inc., Dana Limited, and JTEKT Corporation are some of the leading companies in the market.