Asia-Pacific Torque Vectoring Market, By Component (Hardware and Services), Technology (Active Torque Vectoring Systems (ATVS) and Passive Torque Vectoring Systems (PTVS)), Clutch Actuation Type (Electric and Hydraulic), Driving Wheel Type (Front-Wheel Drive (FWD), All-Wheel Drive/Four-Wheel Drive (AWD/4WD) and Rear-Wheel Drive (RWD)), Vehicle Type (Passenger Cars, Commercial Vehicles and Off Road Vehicle),Propulsion Type (Diesel/Petrol/CNG and Electric Vehicle) – Industry Trends and Forecast to 2029
Market Analysis and Size
Torque vectoring solutions are most important and crucial systems which ensure safety and help in improving the car’s performance. These systems basically provide or distribute torque between the wheels which allows the vehicle to effectively turn over a bend or curve. Torque vectoring is a holistic, predictive approach to vehicle dynamics using a combination of hardware and electronic systems. The Global torque vectoring market is growing rapidly due to emergence of EVS & and its torque vectoring system. The companies are even launching new products to gain a larger market share.
Data Bridge Market Research analyses that the Torque vectoring market is expected to reach the value of USD 5,213.65 million by 2029. "Hardware" accounts for the most prominent component segment. The torque vectoring market report also covers pricing analysis, patent analysis, and technological advancements in depth.
|
Report Metric
|
Details
|
|
Forecast Period
|
2022 to 2029
|
|
Base Year
|
2021
|
|
Historic Year
|
2020
|
|
Quantitative Units
|
USD Million
|
|
Segments Covered
|
By Component (Hardware and Services), Technology (Active Torque Vectoring Systems (ATVS) and Passive Torque Vectoring Systems (PTVS)), Clutch Actuation Type (Electric and Hydraulic), Driving Wheel Type (Front-Wheel Drive (FWD), All-Wheel Drive/Four-Wheel Drive (AWD/4WD) and Rear-Wheel Drive (RWD)), Vehicle Type (Passenger Cars, Commercial Vehicles and Off Road Vehicle), Propulsion Type(Diesel/Petrol/CNG and Electric Vehicle)
|
|
Countries Covered
|
China, Japan, South Korea, Australia and New Zealand, India, Singapore, Malaysia, Thailand, Indonesia, Taiwan, Vietnam, Philippines and Rest of Asia-Pacific
|
|
Market Players Covered
|
BorgWarner Inc., Eaton, American Axle & Manufacturing, Inc., Dana Limited, JTEKT Corporation, Magna International Inc., Robert Bosch GmbH, UNIVANCE CORPORATION, Protean,, Continental AG, Modelon, GKN Automotive Limited, MITSUBISHI MOTORS CORPORATION, Haldex, Schaeffler AG, THE TIMKEN COMPANY, Linamar Corporation, Ricardo, ZF Friedrichshafen AG among others
|
Market Definition
Torque vectoring solutions are most important and crucial systems which ensures safety and helps in improving the car’s performance. These systems basically provide or distributes torque between the wheels which allows the vehicle to effectively turn over a bend or curve. Torque vectoring is a holistic, predictive approach to vehicle dynamics using a combination of hardware and electronic systems. It provides the most suitable distribution of torque to a wheel at any point based on the driver’s intentions and the driving conditions. There basically two types which are prominently used, one brake-based torque vectoring and the other one is electric-based torque vectoring.
Torque Vectoring Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increase in Population & Rapid Urbanization
Over a decade, industrialization and urbanization have played a significant role in the emergence and growth of the automotive industry. The growing global population and the majority of the population shifting towards urban areas for a better opportunity and better living standards plays a vital role in shaping the automotive industry sector.
- Emergence of EVS & and its Torque Vectoring System
The automotive industry has shown enormous growth due to the rising demand for luxurious electric vehicles. All-electric vehicles (E.V.s) are called battery electric vehicles that use a battery to store the electrical energy that powers the vehicles. Some of the factors driving the sales of electric vehicles include stringent government regulations towards vehicle emissions and increasing demand for fuel-efficient, high performance, and low emission vehicles. This adds to the adoption of electric vehicles as all-electric vehicles as zero-emission, which effectively minimizes carbon emission.
- Intelligent Torque Vectoring Approach for ADAS Vehicles
Advanced driver-assistance systems (ADAS) are electronic systems implanted in automobiles to assist driving vehicles or self-driving cars. This system uses sensors such as radars and cameras for analysis and takes automatic action based on the vehicle's surroundings. This system implemented in automobiles enables the enhancement of safety systems in terms of driving by avoiding collisions, adopting cruise control, anti-locking of brakes, automation in lighting, pedestrian crash avoidance mitigation (PCAM), and many others.
- Upsurge In Demand for Luxury And Performance Vehicles
A luxury smart connected vehicle can connect over a wireless network to nearby devices with advanced luxury features such as higher-quality interior materials, engines, transmissions, sound systems, telematics, and safety features. These vehicles have features that aren't available on lower-priced models of vehicles.
Restraints/Challenges
- High Cost Associated With Implementing Torque Vectoring/AWD/4WD Systems
Torque vectoring solutions are the most crucial systems which ensure safety and help in improving the car's performance. These systems distribute torque between the wheels, allowing the vehicle to bend or curve effectively. Two types are prominently used brake-based torque vectoring and the other is electric-based torque vectoring. Pricing of both the system are different Electron-based torque vectoring is slightly more expensive than the other with a difference of USD 1,000 to USD 2,000, due to the usage of more electronic components and electromagnetic principle.
- High Carbon Footprint of The Automotive Sector
A carbon footprint is the total amount of greenhouse gases (including carbon dioxide and methane) generated by a system or a process that drastically affects the environment. Climate change and sustainability have become important factors that play a growing role in business management. Worldwide there is more and more pressure on companies to limit their greenhouse gas emissions and take action to become more environmentally friendly.
Post COVID-19 Impact on Torque Vectoring Market
COVID-19 created a major impact on the torque vectoring market as almost every country has opted for the shutdown for every production facility except the ones dealing in producing the essential goods. The government has taken some strict actions such as the shutdown of production and sale of non-essential goods, blocked international trade, and many more to prevent the spread of COVID-19. The only business which is dealing in this pandemic situation is the essential services that are allowed to open and run the processes.
The growth of the torque vectoring market is rising due to the government policies to boost international trade post COVID. Also the benefits offered by Torque Vectoring market for fishing market and seafood demand is rising the demand for Torque Vectoring market in the market. However, factors such as congestion associated with trade routes and trade restrictions between some nations are restraining the market growth. The shutdown of production facilities during the pandemic situation has had a significant impact on the market.
Manufacturers are making various strategic decisions to bounce back post-COVID-19. The players are conducting multiple research and development activities to improve the technology involved in the torque vectoring market. With this, the companies will bring advanced and accurate solutions to the market. In addition, the government initiatives to boost international trade has led to the market's growth.
Recent Development
- In October 2021, MITSUBISHI MOTORS CORPORATION launched advanced electric torque vectoring systems for Outlander crossover SUV. All-wheel control technologies included for the vehicle will help the vehicle to be stable, offer better control and operational. This allowed the company to expand its torque vectoring systems offering, capabilities and portfolio across all regions.
Asia-Pacific Torque Vectoring Market Scope
Torque vectoring market is segmented on the basis of component, technology, clutch actuation type, driving wheel type, vehicle type and propulsion type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
By Component
- Hardware
- Services
On the basis of system, the Asia-Pacific torque vectoring market is segmented into Hardware and services.
By Technology
- Active Torque Vectoring Systems (ATVS)
- Passive Torque Vectoring Systems (PTVS)
On the basis of technology, the Asia-Pacific torque vectoring market has been segmented into Active Torque Vectoring Systems (ATVS) and Passive Torque Vectoring Systems (PTVS).
By Clutch Actuation Type
- Electric
- Hydraulic
On the basis of clutch actuation type, the Asia-Pacific torque vectoring market has been segmented into electric, and hydraulic.
By Driving Wheel Type
- Front-Wheel Drive (FWD)
- All-Wheel Drive/Four-Wheel Drive (AWD/4WD)
- Rear-Wheel Drive (RWD)
On the basis of driving wheel type, the Asia-Pacific torque vectoring market has been segmented into Front-Wheel Drive (FWD), All-Wheel Drive/Four-Wheel Drive (AWD/4WD), and Rear-Wheel Drive (RWD).
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Off Road Vehicle
On the basis of vehicle type, the Asia-Pacific torque vectoring market has been segmented into passenger cars, commercial vehicles, and off road vehicle.
By Propulsion Type
- Diesel/Petrol/CNG
- Electric Vehicle
On the basis of propulsion type, the Asia-Pacific torque vectoring market has been segmented into diesel/petrol/CNG, and electric vehicle.
Torque Vectoring Market Regional Analysis/Insights
The torque vectoring market is analysed and market size insights and trends are provided by country, component, technology, clutch actuation type, driving wheel type, vehicle type and propulsion type as referenced above.
The countries covered in the torque vectoring market report are China, Japan, South Korea, Australia and New Zealand, India, Singapore, Malaysia, Thailand, Indonesia, Taiwan, Vietnam, Philippines and Rest of Asia-Pacific.
China dominates the Asia-Pacific torque vectoring market. China is likely to be the fastest-growing Asia-Pacific torque vectoring market. The rising infrastructure, commercial, and industrial developments in emerging countries such as China and Japan are credited with the market's dominance. China dominates the Asia-Pacific region due to the high manufacturing and outsourced manufacturing capacities of major companies leading to exports from the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Torque Vectoring Market Share Analysis
The torque vectoring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to torque vectoring market.
Some of the major players operating in the Torque Vectoring market areBorgWarner Inc., Eaton, American Axle & Manufacturing, Inc., Dana Limited, JTEKT Corporation, Magna International Inc., Robert Bosch GmbH, UNIVANCE CORPORATION, Protean,, Continental AG, Modelon, GKN Automotive Limited, MITSUBISHI MOTORS CORPORATION, Haldex, Schaeffler AG, THE TIMKEN COMPANY, Linamar Corporation, Ricardo, ZF Friedrichshafen AG among others.
SKU-