The Europe Torque Vectoring Market would witness market growth of 14.2% CAGR during the forecast period (2022-2028).
The development and expansion of the automotive industry during the past ten years have been significantly influenced by industrialization and urbanization. The automotive industry is greatly influenced by the expanding population and the movement of people to metropolitan regions in search of better job opportunities and living standards.
Since everyone is heading towards advanced safety automobiles with modern torque vectoring systems offering greater safety and efficiency, the use of torque vectoring systems is increasing in urbanized regions, which helps the market expand. Thus, to compete in the market, major players are being compelled by rapid urbanization, population growth, the rise of mobility as a service (MaaS) systems, and changes in consumer behavior to produce automobiles with advanced torque vectoring systems.
Several powertrain topologies for the driving axles and quantity of motors can be set in electric vehicles (EVs). The ability to apply a torque differential on each side of the axle is made possible by the possibility of mounting two independently managed motors on an axle. Electric motors, which lack a mechanical linkage between the axles (or wheels), have an advantage over a conventional torque vectoring differential in terms of increased flexibility in the direction of torque transfer and quicker response times. This can be used to create safer and more stable vehicles.
This region’s automotive sector is large and has been expanding rapidly. In the EU in 2021, 5,078,894 European automobiles worth roughly $134 billion were shipped to other countries. In addition, the sale and usage of passenger cars bring in $396 billion annually for the budgets of EU member states. As per the latest vehicle registration figures of the region, in the third quarter of 2022, there were around 2,214,000 more new car registrations than there were in the corresponding period in 2021. Additionally, battery-electric vehicles (BEVs) now account for 13% of all vehicles on the road, while the sales of plug-in hybrid vehicles (PHEVs) grew gradually. This supports the growth of the regional market.
The Germany market dominated the Europe Torque Vectoring Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,551.7 million by 2028. The UK market is anticipated to grow at a CAGR of 13.3% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 15% during (2022 - 2028).
Based on Propulsion, the market is segmented into All Wheel Drive/Four Wheel Drive (AWD/4WD), Rear Wheel Drive (RWD) and Front Wheel Drive (FWD). Based on Vehicle Type, the market is segmented into Passenger Car, Light Commercial Vehicles and Heavy Commercial Vehicles. Based on Clutch Actuation Type, the market is segmented into Hydraulic Clutch and Electronic Clutch. Based on Technology, the market is segmented into Passive and Active. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Torque Vectoring Market will Hit $20.2 Billion by 2028, at a CAGR of 15%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include GKN Automotive Limited (Melrose Industries PLC), Continental AG, ZF Friedrichshafen AG, JTEKT Corporation, American Axle & Manufacturing, Inc., Univance Corporation, Dana Incorporated, BorgWarner, Inc., Eaton Corporation PLC, and Robert Bosch GmbH.
By Propulsion
By Vehicle Type
By Clutch Actuation Type
By Technology
By Country
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