Torque Vectoring Companies | Forecast by 2033

04 Sep 2024

Share :

Table of Content

1. Torque vectoring Market Growth, Trends and Report Highlights 2. Market Overview 3. Torque Vectoring Market Emerging Trends 4. Top Companies in the Torque Vectoring Market 5. Recent Development by Aston Martin 6. Regional Insights 7. Market Potential & Growth Opportunity 8. Torque Vectoring Market Highlights 9. Torque Vectoring Market News

Torque vectoring Market Growth, Trends and Report Highlights

The global torque vectoring market surpassed USD 10.07 billion in 2023 and is predicted to attain around USD 26.27 billion by 2033, growing at a CAGR of 13.67% during the forecast period.Due to the rising concern about safety, handling, and performance, the torque vectoring market is observed to be growing significantly.

Market Overview

The torque vectoring market is evolving significantly due to the rapidly rising concern about the safety and performance of vehicles. The market is constantly working on torque vectoring development and distributing it across the world. The advanced automotive market and continuous demand for enhanced safety measures and vehicle performance are also driving the growth of the torque vectoring market. Torque vectoring stands for the capacity to spread torque to every wheel, enhancing stability, traction, and handling. This technology is incorporated in both electric and conventional vehicles due to the demand of people. This torque vectoring technology plays an important role in improving stability by spreading the torque on the entire vehicle from the wheels to the handle, which increases the safety of the driver and makes it the best choice for people. Major market players are concentrating highly on the development of the systems available in vehicles that accommodate both mainstream and luxury features.

Torque Vectoring Market Emerging Trends

• Electrification Incorporation: The growing demand for electric vehicles influences the incorporation of torque vectoring systems. Due to the fast response to torque features, electric vehicles are becoming in high demand.
• Technological Advancement: With the development of technology, the torque distribution system has been enhanced due to real-time data processing capacity and developed algorithms.
• Extending to Mainstream Models: Earlier, this feature was only available in luxury vehicles, whereas at current times, this is a feature incorporated in all the models of vehicles by automotive companies.
• Demand for Driver Assistance and Vehicle Safety: Safety and ADAS are the most in-demand features customers are looking for when buying vehicles, and they ultimately influence the torque vectoring system.

Advancements in technology and rising demand for premium vehicles are driving the torque vectoring market

The automotive industry is constantly bringing advancement to the market with unique technologically advanced features. The demand for sports cars in the market, with various additions of luxury and looks, influences the torque vectoring market. The continuous advancement offered by market players brings new features in all the new models launched. With the introduction of various luxury vehicles to the various new model vehicles, this torque vectoring system is included as the demand for safety is rising among the public. Luxury includes the addition of digital screens, air curtains, voice assistance, and many others.

• In August 2022, BMW initiated the idea of the first development drive with the introduction of its latest technology of drive and chassis control system. The company primarily concentrates on four-wheel drive systems that include electric vehicles and incorporates driving dynamics control systems that comprise torque vectoring.
• In April 2024, Mercedes-Benz announced its launch of the Mercedes-Benz G 580 EV, which is added with an internal combustion engine feature. The vehicle is introduced with features such as rear-seat entertainment and premium sound.
• However, the major restraint in the market is the high price and complexity associated with this system. The restricted requirement of the torque vectoring system also limits the market as it is required only during off-tracking.

Top Companies in the Torque Vectoring Market

• Drako
• GKN Automotive
• Kia Motors Corporation
• BorgWarner Inc.
• General Motors (GM)
• ZF Friedrichshafen AG
• Audi AG
• Koenigsegg
• Continental AG
• Haldex AB
• Aston Martin
• Porsche AG
• Dana Incorporated
• Nexteer Automotive
• Bosch Group
• Magna International Inc.
• Aisin Seiki Co. Ltd.

Recent Development by Koenigsegg

Recent Development by Aston Martin

Regional Insights

North America is expected to grow at the fastest rate during the forecast period. Playing the role of the leading producer, consumer, and exporter due to the advancements in the automotive industry and innovations is considered to be the driving factor of the torque vectoring market in this region. In addition, the government’s focus on awareness regarding safety in vehicles, light-projected vehicles, speed control, and various other advancements has expanded the market. The growing demand for electric vehicles, along with the advanced features, resulted in the development of the torque vectoring market. The major market players are working on providing balance to vehicles to avoid ongoing accidents.

• In July 2024, the U.S. Department of Energy (DoE), announced to provide support of $1.7 billion to auto workers for electric vehicles.
• In January 2024, Tesla announced the upgradation of its Model 3 compact Sedan in North America. The new features enhance the demands of the country. It is considered the most expensive version of this Sedan model, which costs approximately $50,990.

Asia-Pacific dominated the torque vectoring market in 2023. With countries like China and India due to their expanding automotive industry and the demand for luxury features in every model. Moreover, the huge investments and funding by the government through respective regulatory bodies have also played a crucial role in expanding the market. Constant evolution in the automotive sector by several market players and their collaborations led to the growth of several markets that are involved in upgrades, and the major one among them is the torque vectoring market.

• In July 2023, Hyundai upgraded one of its models, the Hyundai i30 N-line Sedan, with the addition of features like hybrid power along with some mechanical advancement.
• In December 2023, Hyundai announced its collaboration with Kia to develop a Universal Wheel Drive System at an event conducted in South Korea. The system is named Uni Wheel. The major focus is on reducing gear, providing open space behind the wheels, and reducing the charges of electric vehicles.

The launch of advanced technology in electric vehicles or electric supercars has enhanced the torque vectoring market in the countries. The continuous investment brings innovation to the market based on various requirements. Rising automotive companies such as Nissan, Toyota, Honda, Great Wall Motors, Geely, and many others are constantly working on bringing required changes.

• In October 2023, Zeekr announced the launch of Zeekr 001 FR electric supercar. The motive is to develop the fastest-accelerating electric vehicle.

Market Potential & Growth Opportunity

The growing number of customers buying vehicles for off-road traveling purposes and also the advantages of torque vectoring features attract a high number of customers. With the rising demand for ADAS features, the leading market players are continuously focusing on providing updated models of several vehicles that have already been introduced to the market, which primarily enhance the market opportunities of the torque vectoring market.

• In January 2022, Stromag announced the launch of a new range of SHPU hydraulic power packs, which have the feature of hydraulic clutches and brakes. It is developed with the goal of enhancing modularity, and improvisation in the performance in a compact package.

Torque Vectoring Market Highlights

Torque Vectoring Market News

• In March 2023, JJE announced the launch of DirectFluxTM both mono-stable and Bi-stable Electromagnetic Clutches for several electric drive applications. It is developed by direct magnetic force and flux in the same direction.
• In June 2024, Volkswagen announced the launch of the Golf R. It is featured with an R-Performance package that makes it the fastest vehicle yet launched by this company.
• In May 2024, Lamborghini added a new advancement in its range: it switched from mechanical torque-based vehicles to electric torque vectoring systems.

Market Segmentation

By Clutch Actuation Type

• Hydraulic Clutch
• Electronic Clutch

By Vehicle Type

• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Passenger Car

By Propulsion

• Front Wheel Drive (FWD)
• Rear Wheel Drive (RWD)
• All Wheel Drive/Four Wheel Drive (AWD/4WD)

By Technology

• Active Torque Vectoring System (ATVS)
• Passive Torque Vectoring System (PTVS)

Get this report to explore global market size, share, CAGR and trends, featuring detailed segmental analysis and an insightful competitive landscape overview@ https://www.precedenceresearch.com/checkout/4875

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 650 460 3308