Asia Pacific Torque Vectoring Market Size & Outlook
The torque vectoring market in Asia Pacific is expected to reach a projected revenue of US$ 9,657.9 million by 2030. A compound annual growth rate of 10.3% is expected of Asia Pacific torque vectoring market from 2024 to 2030.
Revenue, 2023 (US$M)
$4,850.4
Forecast, 2030 (US$M)
$9,657.9
CAGR, 2024 - 2030
10.3%
Report Coverage
Asia Pacific
Asia Pacific torque vectoring market, 2018-2030 (US$M)
Asia Pacific torque vectoring market highlights
- The Asia Pacific torque vectoring market generated a revenue of USD 4,850.4 million in 2023.
- The market is expected to grow at a CAGR of 10.3% from 2024 to 2030.
- In terms of segment, bev was the largest revenue generating ev type in 2023.
- BEV is the most lucrative ev type segment registering the fastest growth during the forecast period.
Asia Pacific data book summary
| Market revenue in 2023 | USD 4,850.4 million |
| Market revenue in 2030 | USD 9,657.9 million |
| Growth rate | 10.3% (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 |
| Key market players worldwide | GKN Automotive, BorgWarner Inc, ZF Group, Continental AG, Dana Inc, Bosch, Aisin Seiki, Haldex, Magna International Inc, Nexteer Automotive Group Ltd, Audi AG, Volkswagen AG, Hyundai Motor Co, General Motors Co, Drako Motors |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 44.5% of the global torque vectoring market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 9,657.9 million by 2030.
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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 |
|---|
Asia Pacific torque vectoring market
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