Global 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 Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Torque Vectoring Market
Market Report Description
The Global Torque Vectoring Market size is expected to reach $20.2 billion by 2028, rising at a market growth of 15.0% CAGR during the forecast period.
Torque-vectoring systems based on differentials pair an open differential with a set of multi-plate clutches present on either side of the car. Moreover, these systems use sensors to measure the wheel speed as well as the yaw of the vehicle. When a vehicle is negotiating a corner over a surface that is slick or has low traction, the system electronically activates the clutch packs. The clutch packs function to change the amount of torque applied to a wheel.
This aids the driver in rotating the vehicle in scenarios like an S-curve by increasing the torque applied to the outside wheels. This also helps the vehicle while driving on a surface with little traction, as torque is distributed to the wheels with the highest traction. Although differentials are the most popular method, some torque-vectoring systems imitate the behavior of more sophisticated differential-based systems by using the brakes of the car.
Brake-based torque vectoring enables an economical method of power transmission to individual wheels by utilizing stability and braking control systems. Manufacturers of automotive sectors are continuously attempting to find approaches to raise the precision of work, better services, and work with expanding technologies.
Adopting torque vectoring technologies in vehicles can give greater safety features and improved car performance that allows customers to enjoy the luxuries of automobiles. The market for torque vectoring systems is expanding due to technological developments such as the intelligent torque vectoring technique developed for ADAS vehicles, the introduction of electric vehicles and their torque vectoring system, and the rise of urbanization.
COVID-19 Impact Analysis
The Covid-19 outbreak had a detrimental effect on the expansion of the torque vectoring market. Strict lockdowns hindered transportation and manufacturing operations, severely disrupting supply networks. In addition, the pandemic had an adverse effect on the automotive sector globally. It caused original equipment manufacturers to halt or slow down production, which further intensified due to a shortage of labor. The sharp decline in automobile sales further aggravated the negative impact of the pandemic. The COVID-19 pandemic's negative effects led to severe supply-demand imbalances in countries worldwide.
Market Growth Factors
Rising adoption of AWD/4wd vehicles and ADAS technology
In order to improve the operating effectiveness of the vehicle, the automotive manufacturing industry has made technological advancements in the fields of powertrain, safety, drivetrain, and stability. Automobile consumers call for higher production, more effective, and high-end driving activities. Moreover, end customers' demand expectations have evolved more in favor of increased luxury, convenience, and driving dynamics. In order to achieve desired levels of vehicle dynamics and safety, end users' preferences are migrating towards all-wheel drive (AWD) and four-wheel drive (4WD) cars. As a result, torque vectoring system adoption and market expansion are boosted globally.
Demand for commercial cars is growing
Due to urbanization and rising industrial production, the demand for commercial cars in developing countries is expected to climb significantly over the next few years. For instance, the light commercial, medium commercial, and heavy commercial vehicle categories in the automobile industry of emerging economies saw extraordinary growth rates. Most commercial vehicles have rear-wheel-drive, which necessitates the use of high-performance differential assemblies. Therefore, in the coming years, all these factors will promote the expansion of the torque vectoring market.
Market Restraining Factors
Declining vehicle ownership along with greater use of mobility solutions
The main inhibitor for the torque vectoring industry is expanding mobility services. More connectivity services are being made possible by infrastructure and IT advancements, which encourages more service pooling with applications or remote services. Also, due to the development of such solutions and technological improvements, automobiles are receiving over-the-air upgrades, which are propelling mobility services. As time goes on, individuals will favor more practical and economical transportation options, which will have an impact on the car-ownership paradigm.
Clutch Actuation Type Outlook
Based on clutch actuation type, the torque vectoring market is bifurcated into hydraulic clutch and electronic clutch. The electronic clutch segment procured a considerable growth rate in the torque vectoring market in 2021. The segment's expansion is credited to the fact that the electronic clutch is more often used due to its higher efficiency. This is because the mechanical components' needs are more effectively and durably met by the electronic clutch. Also, it contributes to total fuel economy improvement with great accuracy. It satisfies several strict emission standards, which is the primary driver behind the use of such parts in automobiles.
Vehicle Type Outlook
On the basis of vehicle type, the torque vectoring market is divided into light commercial vehicle, heavy commercial vehicle, and passenger cars. The heavy commercial vehicle segment recorded a significant revenue share in the torque vectoring market in 2021. In terms of price range and available amenities, heavy commercial vehicles are premium vehicles, and they offer better fuel efficiency. Moreover, the EV variants of heavy commercial vehicles have been found to be more efficient than the ICE version of the same model. The key factors influencing torque for buyers of the heavy commercial vehicle are towing and hauling.
Based on propulsion, the torque vectoring market is segmented into front wheel drive (FWD), rear wheel drive (RWD), and all wheel drive/four wheel drive (AWD/4WD). The front wheel drive (FWD) segment garnered a remarkable growth rate in the torque vectoring market in 2021. Torque vectoring differentials on front wheel drive cars offer many advantages. Only the torque between the two wheels changes due to the differential. It is less complicated because the electronic monitoring mechanism keeps an eye on two wheels. An FWD differential needs to consider several things. It must keep an eye on the steering and wheel rotation angles.
On the basis of technology, the torque vectoring market is categorized into active and passive. The passive segment procured the highest revenue share in the torque vectoring market in 2021. A passive torque vectoring technology effectively reroutes the force, enhancing stability and traction. Also, because no additional components are needed for this type to function, the weight of the vehicle is greatly reduced. Higher stability offered by the PTVS is advantageous for vehicles specifically for when carrying heavy loads on a difficult terrain. These factors promote the growth of the segment.
|Market size value in 2021||USD 7.7 Billion|
|Market size forecast in 2028||USD 20.2 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 15% from 2022 to 2028|
|Number of Pages||420|
|Number of Table||245|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Propulsion, Clutch Actuation Type, Technology, Vehicle Type, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region wise, the torque vectoring market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe region recorded the largest revenue share in the torque vectoring market in 2021. Torque vectoring is receiving a lot of interest because the continent is home to several vehicle market giants. This is because countries with strong automotive industries—like Germany, the UK, France, and Spain—account for a sizeable portion of the European automotive market. Also, a substantial investment has been made in research and development, which is driving the market's expansion.
Free Valuable Insights: Global Torque Vectoring Market size to reach USD 20.2 Billion by 2028
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
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
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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North America Torque Vectoring Market Report 2022-2028
Europe Torque Vectoring Market Report 2022-2028
Asia Pacific Torque Vectoring Market Report 2022-2028
What would be the size of the Torque Vectoring Market by 2028?
The global Torque Vectoring Market size is expected to reach $20.2 billion by 2028.
What are the key driving factors and challenges in the Torque Vectoring Market?
Demand for commercial cars is growing are driving the market in coming years, however, Declining vehicle ownership along with greater use of mobility solutions restraints the growth of the market.
What are the major top companies in the competitive landscape?
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.
Which segment shows a high revenue share of the Torque Vectoring Market in 2021?
The All-Wheel Drive/Four Wheel Drive (AWD/4WD) segment acquired maximum revenue share in the Global Torque Vectoring Market by Propulsion 2021 thereby, achieving a market value of $12.3 billion by 2028.
Which segment is leading the market in 2021?
The Hydraulic Clutch segment is leading the Global Torque Vectoring Market by Clutch Actuation Type 2021 thereby, achieving a market value of $15.5 billion by 2028.
Which region dominated the Torque Vectoring Market in 2021?
The Europe market dominated the Global Torque Vectoring Market by Region 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $6.5 billion by 2028.