Global Torque Vectoring Market Size & Outlook, 2023-2030
The torque vectoring industry worldwide is expected to reach a projected revenue of US$ 21,018.6 million by 2030. A compound annual growth rate of 9.9% is expected of the worldwide torque vectoring industry from 2024 to 2030.
Revenue, 2023 (US$M)
$10,889.0
Forecast, 2030 (US$M)
$21,018.6
CAGR, 2024 - 2030
9.9%
Report Coverage
Worldwide
Global torque vectoring market, 2018-2030 (US$M)
Global torque vectoring market highlights
- The global torque vectoring market generated a revenue of USD 10,889.0 million in 2023 and is expected to reach USD 21,018.6 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 9.9% by 2030.
- In terms of segment, bev accounted for a revenue of USD 10,889.0 million in 2023.
- BEV is the most lucrative ev type segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
Global data book summary
| Market revenue in 2023 | USD 10,889.0 million |
| Market revenue in 2030 | USD 21,018.6 million |
| Growth rate | 9.9% (CAGR from 2023 to 2030) |
| Largest segment | Bev |
| Fastest growing segment | BEV |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | BEV |
Other key industry trends
- In terms of revenue, the North America accounted for 17.8% of the global torque vectoring market in 2023.
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Torque Vectoring Market Scope
Torque vectoring market segmentation & scope
Propulsion
Front wheel drive (FWD)
All wheel drive/Four-wheel drive (4WD)
Rear wheel drive (RWD)
Vehicle Type
Passenger Car
Light Commercial Vehicle
Clutch Actuation Type
Hydraulic
Electronic
Technology
Active Torque Vectoring System
Passive Torque Vectoring System
Countries
U.S.
Canada
Mexico
UK
France
Germany
Italy
Spain
Japan
China
India
Australia
South Korea
Brazil
Argentina
South Africa
Saudi Arabia
UAE
Torque Vectoring Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global torque vectoring market size, by regions, 2018-2030 (US$M)
Related industry reports
Related regional statistics
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