Torque Vectoring Market Overview
Torque vectoring
is a technique used in automotive differentials. Torque Vectoring Market is
forecast to reach $19.8 billion by 2026, after growing at a CAGR of 18.4% during
2021-2026. The torque vectoring market for the automotive sector is mainly
driven by increased demand for luxury and performance vehicles including SUVs,
crossovers and off-highway vehicles. According to the International Energy
Agency, SUVs account for about 39% of the total car sales in 2019. With the
growing need for luxury cars and rising concern of safety, the SUVs sales are
likely to shoot up during forecast period. The growing usage of Torque Vectoring
systems in rear wheel drive and 4wd (four-wheel drive) systems is set to propel
the market growth.
Torque-Vectoring Industry Outlook
The report: “Torque Vectoring Market Report – Forecast
(2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments
of the Torque Vectoring Market.
By Technology: Active
Torque Vectoring System (ATVS), Passive Torque Vectoring (PTVS).
By Propulsion: Front Wheel
Drive (FWD), Rear Wheel Drive (RWD), All Wheel Drive/Four Wheel Drive (AWD/4WD).
By Vehicle Type: Passenger
Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles.
By Clutch Actuation Type: Hydraulic
Clutch, Electronic Clutch.
By Geography - North America (U.S, Canada, Mexico), Europe (Germany,
UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, South Korea,
Australia and Others), South America(Brazil, Argentina and others)and RoW
(Middle east and Africa).
Key Takeaways
- Europe market dominates the Torque Vectoring industry owing to increasing demand from applications such as the automotive and aviation industries.
- Increasing demand for battery electric vehicles and the ban on diesel and gasoline vehicles going forward in the European countries will create hurdles for the Torque Vectoring market.
- All-wheel drive vectoring segments hold the highest market share due to their extensive use and enhanced usability.
- The passenger car segment is expected to grow at a CAGR of 15.42% during the forecast period.
Torque Vectoring Market Segment Analysis - By Propulsion
All-wheel drive vectoring system segments have the largest market
share at 48% in 2019 due to their widespread use and improved functionality. A
4WD (four-wheel drive) system provides extreme traction for all vehicle wheels
which eliminates loss of control, particularly on slippery roads. In addition
an AWD or all-wheel drive system involves all four wheels in a vehicle and
eliminates the need for 4WD to 2wd (Two-wheel drive) mode switching. The
AWD/4WD torque vectoring system market is driven primarily by increasing demand
for SUVs and luxury vehicle. Similarly, the increasing concern towards safety
and stability during driving has enforcing manufacturers to introduce advanced
technology like torque vectoring to augment the customer safety and experience.
The All-wheel Drive systems market is expected to grow by a CAGR of 8.8% during
2021-2026 due to its large adoption in sports utility vehicles (SUVs) segment.
This is likely to create opportunity for torque vectoring market.
Torque Vectoring Market Segment Analysis - By Vehicle Type
During the
forecast period, the passenger car segment is expected to be the fastest
growing torque vectoring market with a CAGR of 12.4% between 2021 and 2026. The
vectoring unit market for passenger car torque is driven primarily by sustained
growth in demand for luxury passenger cars. Similarly, passenger car demand is
considerably higher than other vehicle demand, hence capturing the majority of
the market share. According to International Organization of Motor Vehicle
Manufacturers, there were 68.69 million passenger cars sold in 2018, of which
29.77 million were SUVs, with volume up by 7% from 2018. In the same year, the
sale of passenger vehicles was almost 63% greater than the commercial
vehicles. This creates a favorable market for torque vectoring system.
Torque Vectoring Market Segment Analysis - By Geography
In 2020, the Torque
vectoring market share for the European region was 34.2%. This due to the
presence of large automotive base in the countries like Germany, the UK, France
and Spain, which account for a significant share of the European automotive
industry. OEMs like BMW AG (Germany), Daimler AG (Germany), Fiat (Italy), PSA /
Peugeot-Citroen (France) dominate the market. In 2019, according to European
Automobile Manufacturers' Association (ACEA), there are 15.6 million new
vehicle registration in the EU and EFTA. In September 2019, new passenger
vehicle registration in EU and EFTA has increased by 14.4% from September 2018.
This increase in the new vehicle sales in Europe is expected to drive the
European Torque vectoring market.
Torque Vectoring Market, By Technology
Torque Vectoring Market Drivers
Increased awareness of greater safety and dynamics of vehicles
According to World Health
Organization, as a result of road traffic crashes, about 1.35 million people
die each year. Safe cars play a key role in avoiding damage
due to collisions and reducing the likelihood of severe injury. Increased interest
for safety of vehicle among consumers is driving the demand for torque vectoring
system. The torque vector market is expected to expand with the development of
better and more sophisticated safety measures for luxury cars and other
commercial vehicles.
Growing demand for battery powered electric vehicles
The demand for electric vehicle is
growing rapidly since 2016 due to rising environmental regulation and
government incentives. The global electric car fleet exceeded 6.1 million in
2019, up by 2 million from 2018, almost doubling the number of new
registrations for electric cars. The Netherlands and Japan are front-runners in
the electronic vehicles category, according to International Energy Agency (IEA). Also, in 2018, France's government announced that it will
completely ban diesel and gasoline-powered cars and switch to electric vehicles
by 2040 in order to meet zero emission targets under the "Paris Climate
Accord." Torque vectoring system being one of the major components in
electric vehicle is likely to witness the demand from the growth of electric
vehicle industry.
Torque Vectoring Market Challenges
Growth in mobility services
Growth in
mobility services is the biggest restriction on the automotive torque vectoring
market. Infrastructure and IT developments enable more connectivity services,
resulting in more pooling services using apps or remote services. This increase
in shared mobility services is negatively affecting the vehicle market as
people are now preferring ride sharing services as the more convenient and
affordable mean of transport. Therefore, the sales of passenger vehicle is
expected to decline during forecast period, thereby hindering the market growth
for torque vectoring system.
Torque Vectoring Market Landscape
Technology launches,
expansion and R&D activities are key strategies adopted by players in the
Torque Vectoring market. In 2020, the market of Torque Vectoring has been consolidated
by the top five players accounting for 35% of the share. Torque Vectoring top
10 companies are GKN, American Axle, Dana, BorgWarner, Eaton, ZF, JTEKT, Magna,
Bosch and Schaeffler.
Expansion/Technology Launches
- In March 2019, with a two-speed transmission and torque vectoring on the front axle, GKN Automotive launched the first battery-electric vehicle (BEV).
- Toyota Motor Corp. (Toyota Motor) revealed in February 2019 the design of two new AWD systems, namely dynamic torque vectoring AWD and ' E-Four 4WD system. The dynamic torque vectoring system uses the world's first dog clutches on the front and rear wheel shafts of the ratchet type. This type of clutch stops the drive system's rotation, which in 2WD mode helps to transmit the driving force to the rear wheels.
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LIST OF TABLES
1.Global Torque Vectoring Market For Automotive, By Electric Vehicle Type Market 2019-2024 ($M)1.1 Bev Market 2019-2024 ($M) - Global Industry Research
1.2 Hev Market 2019-2024 ($M) - Global Industry Research
2.Global Torque Vectoring Market For Automotive, By Clutch Actuation Type Market 2019-2024 ($M)
2.1 Hydraulic Market 2019-2024 ($M) - Global Industry Research
2.2 Electronic Market 2019-2024 ($M) - Global Industry Research
3.Global Torque Vectoring Market For Automotive, By Propulsion Market 2019-2024 ($M)
3.1 Front-Wheel Drive Market 2019-2024 ($M) - Global Industry Research
3.2 Rear-Wheel Drive Market 2019-2024 ($M) - Global Industry Research
3.3 All-Wheel Drive/Four-Wheel Drive Market 2019-2024 ($M) - Global Industry Research
4.Global Torque Vectoring Market For Automotive, By Technology Market 2019-2024 ($M)
4.1 Active Torque Vectoring System Market 2019-2024 ($M) - Global Industry Research
4.2 Passive Torque Vectoring System Market 2019-2024 ($M) - Global Industry Research
5.Global Torque Vectoring Market For Automotive, By Vehicle Type Market 2019-2024 ($M)
5.1 Passenger Car Market 2019-2024 ($M) - Global Industry Research
5.2 Light Commercial Vehicle Market 2019-2024 ($M) - Global Industry Research
6.Global Torque Vectoring Market For Automotive, By Electric Vehicle Type Market 2019-2024 (Volume/Units)
6.1 Bev Market 2019-2024 (Volume/Units) - Global Industry Research
6.2 Hev Market 2019-2024 (Volume/Units) - Global Industry Research
7.Global Torque Vectoring Market For Automotive, By Clutch Actuation Type Market 2019-2024 (Volume/Units)
7.1 Hydraulic Market 2019-2024 (Volume/Units) - Global Industry Research
7.2 Electronic Market 2019-2024 (Volume/Units) - Global Industry Research
8.Global Torque Vectoring Market For Automotive, By Propulsion Market 2019-2024 (Volume/Units)
8.1 Front-Wheel Drive Market 2019-2024 (Volume/Units) - Global Industry Research
8.2 Rear-Wheel Drive Market 2019-2024 (Volume/Units) - Global Industry Research
8.3 All-Wheel Drive/Four-Wheel Drive Market 2019-2024 (Volume/Units) - Global Industry Research
9.Global Torque Vectoring Market For Automotive, By Technology Market 2019-2024 (Volume/Units)
9.1 Active Torque Vectoring System Market 2019-2024 (Volume/Units) - Global Industry Research
9.2 Passive Torque Vectoring System Market 2019-2024 (Volume/Units) - Global Industry Research
10.Global Torque Vectoring Market For Automotive, By Vehicle Type Market 2019-2024 (Volume/Units)
10.1 Passenger Car Market 2019-2024 (Volume/Units) - Global Industry Research
10.2 Light Commercial Vehicle Market 2019-2024 (Volume/Units) - Global Industry Research
11.North America Torque Vectoring Market For Automotive, By Electric Vehicle Type Market 2019-2024 ($M)
11.1 Bev Market 2019-2024 ($M) - Regional Industry Research
11.2 Hev Market 2019-2024 ($M) - Regional Industry Research
12.North America Torque Vectoring Market For Automotive, By Clutch Actuation Type Market 2019-2024 ($M)
12.1 Hydraulic Market 2019-2024 ($M) - Regional Industry Research
12.2 Electronic Market 2019-2024 ($M) - Regional Industry Research
13.North America Torque Vectoring Market For Automotive, By Propulsion Market 2019-2024 ($M)
13.1 Front-Wheel Drive Market 2019-2024 ($M) - Regional Industry Research
13.2 Rear-Wheel Drive Market 2019-2024 ($M) - Regional Industry Research
13.3 All-Wheel Drive/Four-Wheel Drive Market 2019-2024 ($M) - Regional Industry Research
14.North America Torque Vectoring Market For Automotive, By Technology Market 2019-2024 ($M)
14.1 Active Torque Vectoring System Market 2019-2024 ($M) - Regional Industry Research
14.2 Passive Torque Vectoring System Market 2019-2024 ($M) - Regional Industry Research
15.North America Torque Vectoring Market For Automotive, By Vehicle Type Market 2019-2024 ($M)
15.1 Passenger Car Market 2019-2024 ($M) - Regional Industry Research
15.2 Light Commercial Vehicle Market 2019-2024 ($M) - Regional Industry Research
16.South America Torque Vectoring Market For Automotive, By Electric Vehicle Type Market 2019-2024 ($M)
16.1 Bev Market 2019-2024 ($M) - Regional Industry Research
16.2 Hev Market 2019-2024 ($M) - Regional Industry Research
17.South America Torque Vectoring Market For Automotive, By Clutch Actuation Type Market 2019-2024 ($M)
17.1 Hydraulic Market 2019-2024 ($M) - Regional Industry Research
17.2 Electronic Market 2019-2024 ($M) - Regional Industry Research
18.South America Torque Vectoring Market For Automotive, By Propulsion Market 2019-2024 ($M)
18.1 Front-Wheel Drive Market 2019-2024 ($M) - Regional Industry Research
18.2 Rear-Wheel Drive Market 2019-2024 ($M) - Regional Industry Research
18.3 All-Wheel Drive/Four-Wheel Drive Market 2019-2024 ($M) - Regional Industry Research
19.South America Torque Vectoring Market For Automotive, By Technology Market 2019-2024 ($M)
19.1 Active Torque Vectoring System Market 2019-2024 ($M) - Regional Industry Research
19.2 Passive Torque Vectoring System Market 2019-2024 ($M) - Regional Industry Research
20.South America Torque Vectoring Market For Automotive, By Vehicle Type Market 2019-2024 ($M)
20.1 Passenger Car Market 2019-2024 ($M) - Regional Industry Research
20.2 Light Commercial Vehicle Market 2019-2024 ($M) - Regional Industry Research
21.Europe Torque Vectoring Market For Automotive, By Electric Vehicle Type Market 2019-2024 ($M)
21.1 Bev Market 2019-2024 ($M) - Regional Industry Research
21.2 Hev Market 2019-2024 ($M) - Regional Industry Research
22.Europe Torque Vectoring Market For Automotive, By Clutch Actuation Type Market 2019-2024 ($M)
22.1 Hydraulic Market 2019-2024 ($M) - Regional Industry Research
22.2 Electronic Market 2019-2024 ($M) - Regional Industry Research
23.Europe Torque Vectoring Market For Automotive, By Propulsion Market 2019-2024 ($M)
23.1 Front-Wheel Drive Market 2019-2024 ($M) - Regional Industry Research
23.2 Rear-Wheel Drive Market 2019-2024 ($M) - Regional Industry Research
23.3 All-Wheel Drive/Four-Wheel Drive Market 2019-2024 ($M) - Regional Industry Research
24.Europe Torque Vectoring Market For Automotive, By Technology Market 2019-2024 ($M)
24.1 Active Torque Vectoring System Market 2019-2024 ($M) - Regional Industry Research
24.2 Passive Torque Vectoring System Market 2019-2024 ($M) - Regional Industry Research
25.Europe Torque Vectoring Market For Automotive, By Vehicle Type Market 2019-2024 ($M)
25.1 Passenger Car Market 2019-2024 ($M) - Regional Industry Research
25.2 Light Commercial Vehicle Market 2019-2024 ($M) - Regional Industry Research
26.APAC Torque Vectoring Market For Automotive, By Electric Vehicle Type Market 2019-2024 ($M)
26.1 Bev Market 2019-2024 ($M) - Regional Industry Research
26.2 Hev Market 2019-2024 ($M) - Regional Industry Research
27.APAC Torque Vectoring Market For Automotive, By Clutch Actuation Type Market 2019-2024 ($M)
27.1 Hydraulic Market 2019-2024 ($M) - Regional Industry Research
27.2 Electronic Market 2019-2024 ($M) - Regional Industry Research
28.APAC Torque Vectoring Market For Automotive, By Propulsion Market 2019-2024 ($M)
28.1 Front-Wheel Drive Market 2019-2024 ($M) - Regional Industry Research
28.2 Rear-Wheel Drive Market 2019-2024 ($M) - Regional Industry Research
28.3 All-Wheel Drive/Four-Wheel Drive Market 2019-2024 ($M) - Regional Industry Research
29.APAC Torque Vectoring Market For Automotive, By Technology Market 2019-2024 ($M)
29.1 Active Torque Vectoring System Market 2019-2024 ($M) - Regional Industry Research
29.2 Passive Torque Vectoring System Market 2019-2024 ($M) - Regional Industry Research
30.APAC Torque Vectoring Market For Automotive, By Vehicle Type Market 2019-2024 ($M)
30.1 Passenger Car Market 2019-2024 ($M) - Regional Industry Research
30.2 Light Commercial Vehicle Market 2019-2024 ($M) - Regional Industry Research
31.MENA Torque Vectoring Market For Automotive, By Electric Vehicle Type Market 2019-2024 ($M)
31.1 Bev Market 2019-2024 ($M) - Regional Industry Research
31.2 Hev Market 2019-2024 ($M) - Regional Industry Research
32.MENA Torque Vectoring Market For Automotive, By Clutch Actuation Type Market 2019-2024 ($M)
32.1 Hydraulic Market 2019-2024 ($M) - Regional Industry Research
32.2 Electronic Market 2019-2024 ($M) - Regional Industry Research
33.MENA Torque Vectoring Market For Automotive, By Propulsion Market 2019-2024 ($M)
33.1 Front-Wheel Drive Market 2019-2024 ($M) - Regional Industry Research
33.2 Rear-Wheel Drive Market 2019-2024 ($M) - Regional Industry Research
33.3 All-Wheel Drive/Four-Wheel Drive Market 2019-2024 ($M) - Regional Industry Research
34.MENA Torque Vectoring Market For Automotive, By Technology Market 2019-2024 ($M)
34.1 Active Torque Vectoring System Market 2019-2024 ($M) - Regional Industry Research
34.2 Passive Torque Vectoring System Market 2019-2024 ($M) - Regional Industry Research
35.MENA Torque Vectoring Market For Automotive, By Vehicle Type Market 2019-2024 ($M)
35.1 Passenger Car Market 2019-2024 ($M) - Regional Industry Research
35.2 Light Commercial Vehicle Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Torque Vectoring Market Revenue, 2019-2024 ($M)2.Canada Torque Vectoring Market Revenue, 2019-2024 ($M)
3.Mexico Torque Vectoring Market Revenue, 2019-2024 ($M)
4.Brazil Torque Vectoring Market Revenue, 2019-2024 ($M)
5.Argentina Torque Vectoring Market Revenue, 2019-2024 ($M)
6.Peru Torque Vectoring Market Revenue, 2019-2024 ($M)
7.Colombia Torque Vectoring Market Revenue, 2019-2024 ($M)
8.Chile Torque Vectoring Market Revenue, 2019-2024 ($M)
9.Rest of South America Torque Vectoring Market Revenue, 2019-2024 ($M)
10.UK Torque Vectoring Market Revenue, 2019-2024 ($M)
11.Germany Torque Vectoring Market Revenue, 2019-2024 ($M)
12.France Torque Vectoring Market Revenue, 2019-2024 ($M)
13.Italy Torque Vectoring Market Revenue, 2019-2024 ($M)
14.Spain Torque Vectoring Market Revenue, 2019-2024 ($M)
15.Rest of Europe Torque Vectoring Market Revenue, 2019-2024 ($M)
16.China Torque Vectoring Market Revenue, 2019-2024 ($M)
17.India Torque Vectoring Market Revenue, 2019-2024 ($M)
18.Japan Torque Vectoring Market Revenue, 2019-2024 ($M)
19.South Korea Torque Vectoring Market Revenue, 2019-2024 ($M)
20.South Africa Torque Vectoring Market Revenue, 2019-2024 ($M)
21.North America Torque Vectoring By Application
22.South America Torque Vectoring By Application
23.Europe Torque Vectoring By Application
24.APAC Torque Vectoring By Application
25.MENA Torque Vectoring By Application
26.Gkn, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.American Axle, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Dana, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Borgwarner, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Eaton, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Zf, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Jtekt, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Magna, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Bosch, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Univance, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Schaeffler, Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.Timken, Sales /Revenue, 2015-2018 ($Mn/$Bn)
38.Ricardo, Sales /Revenue, 2015-2018 ($Mn/$Bn)
39.Oerlikon Graziano, Sales /Revenue, 2015-2018 ($Mn/$Bn)
40.Mitsubishi Heavy Industry, Sales /Revenue, 2015-2018 ($Mn/$Bn)
41.Haldex, Sales /Revenue, 2015-2018 ($Mn/$Bn)
42.Continental, Sales /Revenue, 2015-2018 ($Mn/$Bn)
43.Drako, Sales /Revenue, 2015-2018 ($Mn/$Bn)
44.Prodrive, Sales /Revenue, 2015-2018 ($Mn/$Bn)