Torque Vectoring Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

The torque vectoring market share is expected to increase by USD 15.34 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 22.72%.

This torque vectoring market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the torque vectoring market segmentation by type (passenger car and light commercial vehicle) and geography (Europe, North America, APAC, South America, and the Middle East and Africa). The torque vectoring market report also offers information on several market vendors, including American Axle and Manufacturing Holdings Inc., BorgWarner Inc., Continental AG, Dana Inc., Eaton Corp. Plc, Ford Motor Credit Co. LLC, Hyundai Motor Co, JTEKT Corp., Linamar Corp., Magna International Inc., Melrose Industries Plc, Ricardo Plc, Robert Bosch GmbH, Schaeffler AG, Xtrac Ltd., and ZF Friedrichshafen AG among others.

What will the Torque Vectoring Market Size be During the Forecast Period?

Download Report Sample to Unlock the Torque Vectoring Market Size for the Forecast Period and Other Important Statistics

 

Torque Vectoring Market: Key Drivers, Trends, and Challenges

Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends and challenges for the torque vectoring market. During the COVID-19 pandemic, the demand in the torque vectoring market has been impacted significantly. A holistic analysis of drivers will help in predicting exact demands and refining marketing strategies to gain competitive advantages.

Key Torque Vectoring Market Driver

One of the key factors driving the torque vectoring market is improved safety and vehicle dynamics. One of the primary causes for the growth of the global torque vectoring market is the rising need for safety and convenience in different topography systems. A four-wheel drive (4WD) system provides tremendous traction to all four wheels of a vehicle, preventing loss of control, especially on slick roads. Furthermore, an AWD (all-wheel drive) system engages all four wheels of a vehicle, eliminating the need to switch between four-wheel drive (4WD) and two-wheel-drive (2WD) modes. Torque vectoring technology also makes driving easier for drivers in inclement weather conditions by gathering data from sensors that monitor the wheel steering angle, yaw rate, and wheel speed. As a result, it is easier to recognize road conditions and adjust the torque figures to the vehicle's wheel before it loses grip. Such factors are driving the growth of the market over the forecast period.

Key Torque Vectoring Market Trend

The growing demand for electric vehicles is the major trend influencing the torque vectoring market's growth. The sales of plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) recorded significant growth in 2021 globally, especially in China and the US, and a few countries in Europe. BEVs are expected to witness considerable growth in sales during the forecast period. In 2021, the global deliveries of EVs surpassed 7 million units. These included the sales of PHEVs and BEVs. However, all EVs contributed to more than 60% of global EV sales. China dominated global EV sales in terms of the units delivered. As a result, the Chinese manufacturers of all EVs, such as BYD Company and BAIC, are witnessing increased demand for BEVs, leading to significant growth in sales volumes. Therefore, the growing demand for and sales of BEVs are driving the growth of the global torque vectoring market and it is expected to remain the same over the forecast period.

Key Torque Vectoring Market Challenge

The high cost and complexity of electric vehicle transmission are one of the key challenges hindering the torque vectoring market's growth. Electric and hybrid vehicle transmission systems account for almost 20% of the vehicle cost. Automotive OEMs face difficulties in maintaining their profitability as the cost of installing this system is high. In addition, the cost of components used in electric and hybrid vehicle transmission systems and the design and quality control costs are high. All these add to the overall cost of production. With innovations and advances in transmission technology, the complexity and cost of designing a high-performance electric and hybrid vehicle transmission system are also increasing. The cost of the oil required in electric and hybrid vehicle transmissions, such as automatic transmission fluid or hybrid CVT fluid, has almost doubled since 2008-2009. Moreover, most service markets lack the advanced knowledge required to work on hybrid and electric powertrains. Thus, all these factors will hamper the growth of the global torque vectoring market during the forecast period.

This torque vectoring market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global torque vectoring market as a part of the global automotive components and accessories market. Our research report has extensively covered the external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the torque vectoring market during the forecast period.

Who are the Major Torque Vectoring Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• American Axle and Manufacturing Holdings Inc.
• BorgWarner Inc.
• Continental AG
• Dana Inc.
• Eaton Corp. Plc
• Ford Motor Credit Co. LLC
• Hyundai Motor Co
• JTEKT Corp.
• Linamar Corp.
• Magna International Inc.
• Melrose Industries Plc
• Ricardo Plc
• Robert Bosch GmbH
• Schaeffler AG
• Xtrac Ltd.
• ZF Friedrichshafen AG

 

This statistical study of the torque vectoring market encompasses successful business strategies deployed by the key vendors. The torque vectoring market is fragmented, and the vendors are deploying growth strategies such as increasing their investments in R&D to compete in the market.

Product Insights and News

• BorgWarner Inc.- The company offers torque vectoring such as torque converter clutch.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The torque vectoring market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Torque Vectoring Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the torque vectoring market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Torque Vectoring Market?

For more insights on the market share of various regions Request PDF Sample now!

41% of the market’s growth will originate from Europe during the forecast period. Germany and the UK are the key markets for the torque vectoring market in Europe. Market growth in this region will be faster than the growth of the market in APAC.

The increasing adoption of electric vehicles (EVs) and highly efficient powertrains will facilitate the torque vectoring market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

The increase in COVID-19 cases negatively impacted the growth of the automotive industry in Europe in 2020. As a result, governments of countries such as the UK, Germany, France, and Italy, were forced to impose lockdowns, resulting in the temporary closure of numerous vehicle manufacturing facilities in 2020. The lockdowns further led to a decline in the production of automotive vehicles and other auto auxiliary products, such as gears, brakes, and clutches, in Europe. As a result, the increase in the number of COVID-19 cases in 2020 hampered the growth of the regional torque vectoring market. However, in 2021, the large-scale vaccination drives conducted in Europe led to the removal of lockdowns in the region, which allowed the automotive industry to resume operations at automotive production facilities with a limited workforce; but the rising tensions between Russia and Ukraine in February 2022 negatively impacted the growth of the market in focus in Europe in 2022.

What are the Revenue-generating Type Segments in the Torque Vectoring Market?

To gain further insights on the market contribution of various segments Request a PDF Sample

The torque vectoring market share growth in the passenger cars segment will be significant during the forecast period. The increased adoption of 4WD (four-wheel drive) systems, which offer tremendous traction to all four wheels of a vehicle, reduce loss of control, especially on slick roads, and offer enhanced safety and vehicle dynamics, is helping to maintain the dominance of the passenger car segment in this market.

Besides the above-mentioned factors, the post-COVID-19 impact has brought forth a slowdown in or fast-tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the torque vectoring market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Torque Vectoring Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 22.72%
Market growth 2022-2026	$15.34 billion
Market structure	Fragmented
YoY growth (%)	18.16
Regional analysis	Europe, North America, APAC, South America, and the Middle East and Africa
Performing market contribution	Europe at 41%
Key consumer countries	US, Canada, China, Germany, and UK
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	American Axle and Manufacturing Holdings Inc., BorgWarner Inc., Continental AG, Dana Inc., Eaton Corp. Plc, Ford Motor Credit Co. LLC, Hyundai Motor Co, JTEKT Corp., Linamar Corp., Magna International Inc., Melrose Industries Plc, Ricardo Plc, Robert Bosch GmbH, Schaeffler AG, Xtrac Ltd., and ZF Friedrichshafen AG
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Request PDF sample

What are the Key Data Covered in this Torque Vectoring Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive torque vectoring market growth during the next five years
• Precise estimation of the torque vectoring market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the torque vectoring market industry across Europe, North America, APAC, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of torque vectoring market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch