Global Torque Vectoring Market to Generate $31,791.1 Million by 2031 Owing to the Growing Demand for High-End Cars and SUVs

Every car has an automated computerized system which controls the amount of power the car’s engine distributes to each individual wheel. This technology is nothing but torque vectoring. Torque vectoring works on the principle of standard differential and helps each individual wheel to get adequate grip for better launch and handling. Torque vectoring technology is especially popular in all-wheel drive vehicles.

Forecast Analysis of the Torque Vectoring Market

In the recent years, there has been an increase in the demand for high-end cars and SUVs which is expected to be the primary growth driver of the global torque vectoring market in the forecast years. Along with this, rise in prevalence of advanced technologies in automotive sector is expected to push the market further. Also, rise in demand for electric vehicles is predicted to offer numerous investment and growth opportunities to the market in the analysis timeframe. However, high cost of torque vectoring technology may restrain the growth of the torque vectoring market in the forecast period.

Regionally, the torque vectoring market in the North America region is expected to be the most dominant by 2031. Rapidly advancing electric mobility across the U.S. and Canada is anticipated to become the main growth driver of the market in the forecast period.

According to the report published by Research Dive, the global torque vectoring market is expected to gather a revenue of $31,791.1 million by 2031 and grow at 15.2% CAGR in the 2022-2031 timeframe. Some prominent market players include GKN, Eaton, Univance, American Axle, ZF, Schaffler, Getrag, Oerlikon Graziano, Dana, JTEKT, Timken, BorgWarner, Bosch, Richardo, and many others.

Covid-19 Impact on the Market

The outbreak of the Covid-19 pandemic has had a massive negative effect on almost all industries and businesses across the world. The torque vectoring market, too, faced a similar fate. The lockdowns and travel restrictions put a virtual halt on manufacturing and transportation activities thereby disrupting the supply chains of original equipment manufacturers. This led to a drastic decline in the growth rate of the market.

Significant Market Developments

The significant companies operating in the industry are adopting numerous growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, thus helping the torque vectoring market to flourish. For instance:

• In August 2022, BMW, a German automaker, announced that it had started the testing of its electric vehicle prototype equipped with torque vectoring. This launch and the subsequent is expected to push market share of the company substantially in the coming period and increase the popularity of torque vectoring technology in the electric vehicle market.
   
• In September 2022, Polestar, a Swedish electric car manufacturer, announced the launch of Polestar 3, an electric vehicle with electric torque vectoring via a dual-clutch system. This product launch is expected to expand not just the electric vehicle market, but also the torque vectoring market in the coming period.
   
• In February 2023, DG Innovate, an advance research and development company, announced that it was partnering with BRIST Axle Systems and BASE Studio Arge ve Teknoloji Sanayi A.S., two leading off-highway axle suppliers based in Italy and Turkey respectively. This collaboration is aimed at bettering and developing torque vectoring systems for electric vehicles. The partnership is expected to help all the three companies to expand their businesses immensely in the near future.