North America Torque Vectoring Market Size, Share & Industry Trends Analysis Report By Propulsion, By Vehicle Type, By Clutch Actuation Type (Hydraulic Clutch and Electronic Clutch), By Technology (Passive and Active), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Torque Vectoring Market would witness market growth of 14.6% CAGR during the forecast period (2022-2028).
The most critical and vital systems for ensuring safety and enhancing vehicle performance are torque vectoring technologies. These systems essentially distribute or provide torque between the wheels, enabling the car to easily turn around a bend or curve. Torque vectoring combines electrical and hardware components to provide a comprehensive, predictive approach to automobile dynamics. In accordance with the driver's wishes and the driving circumstances, it delivers the most optimal torque distribution to the wheel of the vehicle at any point.
The need for high-end, high-performance automobiles that adhere to safety regulations is rising, boosting the integrational requirement for torque vectoring. Also, technological innovation is opening up opportunities that might make the expansion of the torque vectoring market easy sailing in the years to come. Electric vehicles and concept automobiles are also anticipated to introduce innovations that will spur additional market expansion. It excels in keeping the car's performance, weight, and price balanced. Fundamentally, there are two distinct kinds of torque vectoring systems that are widely employed. These are electric-based torque vectoring and brake-based torque vectoring.
One of the world's biggest marketplaces for automobiles is in the United States. The world's second-largest market for car sales and production is the United States. The forefront of development is also seen in the automotive sector. To better take advantage of the potential of the twenty-first century, new R&D projects are changing the sector. The US has experienced the fastest growth in the adoption of electric vehicles in the first half of 2022. Battery electric vehicles (BEVs) made up 5.5% of all new light truck and passenger car sales, and plug-in hybrid electric vehicles (PHEVs) made up another 1.4%. Therefore, in the coming years, the regional torque vectoring market will expand owing to the higher adoption of electric vehicles.
The US market dominated the North America Torque Vectoring Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4,502 million by 2028. The Canada market is poised to grow at a CAGR of 17.2% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 16.1% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Torque Vectoring Market is Estimated to reach $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.
Scope of the Study
Market Segments Covered in the Report:
- All Wheel Drive/Four Wheel Drive (AWD/4WD)
- Rear Wheel Drive (RWD)
- Front Wheel Drive (FWD)
By Vehicle Type
- Passenger Car
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Clutch Actuation Type
- Hydraulic Clutch
- Electronic Clutch
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- 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
- Robert Bosch GmbH
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