Torque vectoring is a technique used in automotive differentials. [FURL=https://www.industryarc.com/Research/Torque-Vectoring-Market-Research-505713?utm_source=briefingwire&utm_medium=Pressrelease&utm_campaign=Paidpressrelease]Torque Vectoring Market[/FURL] 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.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.
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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 Drivers
Increased awareness of greater safety and dynamics of vehicles
Growing demand for battery powered electric vehicles
Torque Vectoring top 10 companies are GKN, American Axle, Dana, BorgWarner, Eaton, ZF, JTEKT, Magna, Bosch and Schaeffler.
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