Global Torque Vectoring Market Size & Outlook, 2023-2030
The global torque vectoring market size was estimated at USD 10,889.0 million in 2023 and is projected to reach USD 21,018.6 million by 2030, growing at a CAGR of 9.9% 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 Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Drako Motors | View profile | 11-50 | San Jose, California, United States, North America | https://www.drakomotors.com/ |
| Haldex | View profile | 1001-5000 | Landskrona, Skane Lan, Sweden, Europe | https://www.haldex.com |
| Aisin Seiki | View profile | 11-50 | Tochigi, Tochigi, Japan, Asia | https://aisinkanto.co.jp |
| Nexteer Automotive Group Ltd | View profile | 12900 | 1272 Doris Road, Auburn Hills, MI, United States, 48326 | https://www.nexteer.com |
| GKN Automotive | View profile | 10001+ | Birmingham, Birmingham, United Kingdom, Europe | https://www.gknautomotive.com/ |
| Audi AG | View profile | 10001+ | Ingolstadt, Bayern, Germany, Europe | http://www.audi.com |
| ZF Group | View profile | 10001+ | Friedrichshafen, Baden-Wurttemberg, Germany, Europe | http://zf.com |
| BorgWarner Inc | View profile | 39900 | 3850 Hamlin Road, Auburn Hills, MI, United States, 48326 | https://www.borgwarner.com |
| Hyundai Motor Co | View profile | 73502 | 12, Heolleung-ro, Seocho-Gu, Seoul, Korea, Republic of | https://www.hyundai.com |
| Magna International Inc | View profile | 179000 | 337 Magna Drive, Aurora, ON, Canada, L4G 7K1 | https://www.magna.com |
| Bosch | View profile | 10001+ | Stuttgart, Baden-Wurttemberg, Germany, Europe | http://www.bosch.com |
| General Motors Co | View profile | 163000 | 300 Renaissance Center, Detroit, MI, United States, 48265-3000 | https://www.gm.com |
| Volkswagen AG | View profile | 656134 | Berliner Ring 2, Wolfsburg, NI, Germany, 38440 | https://www.volkswagenag.com |
| Dana Inc | View profile | 42000 | 3939 Technology Drive, Maumee, OH, United States, 43537 | https://www.dana.com |
| Continental AG | View profile | 200888 | Continental-Plaza 1, 30001, P.O. Box 1 69, Hanover, NI, Germany, 30175 | https://www.continental.com |
Global torque vectoring market size, by regions, 2018-2030 (US$M)
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