Torque Sensors Market Synopsis:
Torque Sensors Market Size Was Valued at USD 1.0 Billion in 2023, and is Projected to Reach USD 23.5 Billion by 2032, Growing at a CAGR of 8.3% From 2024-2032.
Torque sensors market can be defined as those instruments, which provide an assessment of rotational force, or torque, applied onto an object which is in rotation, and they find application in numerous industries. These sensors; enables the electrical transformation of mechanical torque with potential for precise monitoring and measuring. Torque Sensor finds explicit use among automotive industries, aerospace manufacturing industries, manufacturing of industrial machinery and in robotics where measurement of the torque is a valuable point for performance, efficiency and operational safety. Global torque sensor market has experienced tremendous growth triggered by innovation in sensor systems, a rise in automation of manufacturing process, and heightened need for precise equipment in dynamic applications.
The torque sensors market has grown massively over the years with the market experiencing high demand of high performance sensors across various industries. With the encouragement of technologies into the industries, measurement equipment including torque sensors have become crucial. Of particular importance in the automobile applications, torque sensors are used in the testing of the engine, monitoring of vehicle performance, and automation of the manufacturing process. Increased demand for electric vehicles and their calls for sophisticated testing services also helps drive the market ahead. Also, the growing use of torque sensors for validating automation within the industrial sector’s manufacturing lines contributes to the growth of the market.
Wireless torque sensors have been developed over time and the accuracy and reliability of the sensors used in these devices have also been greatly enhanced due to technological enhancements, making them a necessity in industries that require real time feedback. Segmentation by sensor type shows that rotary torque sensors were the most popular due to their constant demand in various applications. Two examples are strain gauge and optical torque sensors that are also very useful in particular applications. In addition, due to the major emphasis on operational cycles and minimizing total time, machine makers are expanding their use of torque sensors.
Torque Sensors Market Trend Analysis:
Integration of IoT in Torque Sensors
- One of the top emerging factors affecting the torque sensors market is the IoT sensors implementation with the torque sensors. The technology embedded in IoT torque sensors gives data realtime and remote access enabling manufacturers to monitor performance more often and consider action. This integration helps with preventive maintenance, which helps to vary the amount of time machines are off and improve performance. Further, when complimentary orchestrations are implemented, torque data analysis is done remotely, which is cost effective and accurate. Increasing adoption of industries with digital transformation can be seen in IoT technology in torque sensors that should help fuel development on the market.
Advancements in Automotive and Industrial Applications
- A new trend in the torque sensors market is growing deployment of torque sensors in automotive and industrial segments. With the automotive industry transitioning to EVs, torque sensors have fast become essential for testing and validation applications of electric drivetrains and motors. In a similar manner, torque sensor finds its uses in modern industrial automation, robots, production line, as well as in quality checking processes. The shift from automatic and highly accurate applications constitutes a great opportunity for torque sensor manufacturers. Those firms that have the ability to adapt to the needs of EV testing and automation will lock themselves into the market.
Torque Sensors Market Segment Analysis:
Torque Sensors Market Segmented on the basis of type, application, and region.
By Type, Rotary Torque Sensors segment is expected to dominate the market during the forecast period
- Analyzing further Rotary torque sensors are expected to lead the torque sensor market during the period 2019-2025. These sensors quantified the absolute amount of rotating force in rotating shafts, which are widely used across numerous applications such as the testing of auto engines, general industrial applications, and research. Rotary torque sensors have been given preference because they offer high accuracy and work properly under severe working conditions such as application in motors and gearboxes and turbines. Thus, rotary torque sensors will remain the market leaders as both automation and testing develop and expand. Moreover, increases in its technological development and innovation have led to the increased reliability and flexibility that augments their dominance in core industries.
By Application, Automotive segment expected to held the largest share
- The essential business verticals explored in the torque sensor market study are automotive, industrial, aerospace & defense, consumer electronics and others. Torque sensors are widely used in the automotive market to perform tests on engines, drive trains and during the manufacturing process of cars. The increasing number of electric vehicles (EVs) in the market will require torque sensor inputs in evaluating electric motors and battery systems. In addition, the increasing requirement for the enhancement of torque measurement, especially for automotive applications, to enhance efficiency and minimize energy consumption will remain significant factors that will help to bolster the marketplace in this area. Thus, as the car technology advances, even more, demand for high performance torque sensors in cars will rise.
Torque Sensors Market Regional Insights:
Asia Pacific is Expected to Dominate the Market Over the Forecast period
- The torque sensor market is expected to witness the largest growth in Asia-Pacific (APAC) in 2023 owing to increased industrial automation, the sound automotive industry, and growing manufacturing units incorporating torque sensors in their applications. The APAC region is one of the biggest markets and key players running the market include China, Japan and South Korea. The soner also states that automotive and industrial sectors in such regions are growing steadily and torque measurement systems are needed for the development of these industries. The research predicts that the APAC region will dominate the torque sensor market share among all the global regions and offers significant torque sensors to automotive manufacturing, robotics, and industrial automation.
Active Key Players in the Torque Sensors Market:
- Applied Measurements (UK)
- AVL List GmbH (Austria)
- Honeywell International Inc. (USA)
- HPI (USA)
- Kistler Instrumente AG (Switzerland)
- MTS Systems Corporation (USA)
- Nidec Corporation (Japan)
- Omega Engineering Inc. (USA)
- PCB Piezotronics Inc. (USA)
- Rotalink Ltd. (UK)
- SENSITRON (Italy)
- Teledyne Technologies Incorporated (USA)
- Trimble Inc. (USA)
- ZF Friedrichshafen AG (Germany)
- ZwickRoell GmbH & Co. KG (Germany)
- Other Active Players
Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Torque Sensors Market by Type
4.1 Torque Sensors Market Snapshot and Growth Engine
4.2 Torque Sensors Market Overview
4.3 Rotary Torque Sensors
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.3.3 Key Market Trends, Growth Factors and Opportunities
4.3.4 Rotary Torque Sensors: Geographic Segmentation Analysis
4.4 Reaction Torque Sensors
4.4.1 Introduction and Market Overview
4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.4.3 Key Market Trends, Growth Factors and Opportunities
4.4.4 Reaction Torque Sensors: Geographic Segmentation Analysis
Chapter 5: Torque Sensors Market by Application
5.1 Torque Sensors Market Snapshot and Growth Engine
5.2 Torque Sensors Market Overview
5.3 Automotive
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Automotive: Geographic Segmentation Analysis
5.4 Test & Measurement
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Test & Measurement: Geographic Segmentation Analysis
5.5 Industrial
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Industrial: Geographic Segmentation Analysis
5.6 Aerospace & Defense
5.6.1 Introduction and Market Overview
5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.6.3 Key Market Trends, Growth Factors and Opportunities
5.6.4 Aerospace & Defense: Geographic Segmentation Analysis
5.7 Manufacturing
5.7.1 Introduction and Market Overview
5.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.7.3 Key Market Trends, Growth Factors and Opportunities
5.7.4 Manufacturing: Geographic Segmentation Analysis
5.8 Others
5.8.1 Introduction and Market Overview
5.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.8.3 Key Market Trends, Growth Factors and Opportunities
5.8.4 Others: Geographic Segmentation Analysis
Chapter 6: Company Profiles and Competitive Analysis
6.1 Competitive Landscape
6.1.1 Competitive Benchmarking
6.1.2 Torque Sensors Market Share by Manufacturer (2023)
6.1.3 Industry BCG Matrix
6.1.4 Heat Map Analysis
6.1.5 Mergers and Acquisitions
6.2 APPLIED MEASUREMENTS (UK)
6.2.1 Company Overview
6.2.2 Key Executives
6.2.3 Company Snapshot
6.2.4 Role of the Company in the Market
6.2.5 Sustainability and Social Responsibility
6.2.6 Operating Business Segments
6.2.7 Product Portfolio
6.2.8 Business Performance
6.2.9 Key Strategic Moves and Recent Developments
6.2.10 SWOT Analysis
6.3 AVL LIST GMBH (AUSTRIA)
6.4 HONEYWELL INTERNATIONAL INC. (USA)
6.5 HPI (USA)
6.6 KISTLER INSTRUMENTE AG (SWITZERLAND)
6.7 MTS SYSTEMS CORPORATION (USA)
6.8 NIDEC CORPORATION (JAPAN)
6.9 OMEGA ENGINEERING INC. (USA)
6.10 PCB PIEZOTRONICS INC. (USA)
6.11 ROTALINK LTD. (UK)
6.12 SENSITRON (ITALY)
6.13 TELEDYNE TECHNOLOGIES INCORPORATED (USA)
6.14 TRIMBLE INC. (USA)
6.15 ZF FRIEDRICHSHAFEN AG (GERMANY)
6.16 ZWICKROELL GMBH & CO. KG (GERMANY)
6.17 OTHER ACTIVE PLAYERS
Chapter 7: Global Torque Sensors Market By Region
7.1 Overview
7.2 . North America Torque Sensors Market
7.2.1 Key Market Trends, Growth Factors and Opportunities
7.2.2 Top Key Companies
7.2.3 Historic and Forecasted Market Size by Segments
7.2.4 Historic and Forecasted Market Size By Type
7.2.4.1 Rotary Torque Sensors
7.2.4.2 Reaction Torque Sensors
7.2.5 Historic and Forecasted Market Size By Application
7.2.5.1 Automotive
7.2.5.2 Test & Measurement
7.2.5.3 Industrial
7.2.5.4 Aerospace & Defense
7.2.5.5 Manufacturing
7.2.5.6 Others
7.2.6 Historic and Forecast Market Size by Country
7.2.6.1 US
7.2.6.2 Canada
7.2.6.3 Mexico
7.3 . Eastern Europe Torque Sensors Market
7.3.1 Key Market Trends, Growth Factors and Opportunities
7.3.2 Top Key Companies
7.3.3 Historic and Forecasted Market Size by Segments
7.3.4 Historic and Forecasted Market Size By Type
7.3.4.1 Rotary Torque Sensors
7.3.4.2 Reaction Torque Sensors
7.3.5 Historic and Forecasted Market Size By Application
7.3.5.1 Automotive
7.3.5.2 Test & Measurement
7.3.5.3 Industrial
7.3.5.4 Aerospace & Defense
7.3.5.5 Manufacturing
7.3.5.6 Others
7.3.6 Historic and Forecast Market Size by Country
7.3.6.1 Russia
7.3.6.2 Bulgaria
7.3.6.3 The Czech Republic
7.3.6.4 Hungary
7.3.6.5 Poland
7.3.6.6 Romania
7.3.6.7 Rest of Eastern Europe
7.4 . Western Europe Torque Sensors Market
7.4.1 Key Market Trends, Growth Factors and Opportunities
7.4.2 Top Key Companies
7.4.3 Historic and Forecasted Market Size by Segments
7.4.4 Historic and Forecasted Market Size By Type
7.4.4.1 Rotary Torque Sensors
7.4.4.2 Reaction Torque Sensors
7.4.5 Historic and Forecasted Market Size By Application
7.4.5.1 Automotive
7.4.5.2 Test & Measurement
7.4.5.3 Industrial
7.4.5.4 Aerospace & Defense
7.4.5.5 Manufacturing
7.4.5.6 Others
7.4.6 Historic and Forecast Market Size by Country
7.4.6.1 Germany
7.4.6.2 UK
7.4.6.3 France
7.4.6.4 The Netherlands
7.4.6.5 Italy
7.4.6.6 Spain
7.4.6.7 Rest of Western Europe
7.5 . Asia Pacific Torque Sensors Market
7.5.1 Key Market Trends, Growth Factors and Opportunities
7.5.2 Top Key Companies
7.5.3 Historic and Forecasted Market Size by Segments
7.5.4 Historic and Forecasted Market Size By Type
7.5.4.1 Rotary Torque Sensors
7.5.4.2 Reaction Torque Sensors
7.5.5 Historic and Forecasted Market Size By Application
7.5.5.1 Automotive
7.5.5.2 Test & Measurement
7.5.5.3 Industrial
7.5.5.4 Aerospace & Defense
7.5.5.5 Manufacturing
7.5.5.6 Others
7.5.6 Historic and Forecast Market Size by Country
7.5.6.1 China
7.5.6.2 India
7.5.6.3 Japan
7.5.6.4 South Korea
7.5.6.5 Malaysia
7.5.6.6 Thailand
7.5.6.7 Vietnam
7.5.6.8 The Philippines
7.5.6.9 Australia
7.5.6.10 New Zealand
7.5.6.11 Rest of APAC
7.6 . Middle East & Africa Torque Sensors Market
7.6.1 Key Market Trends, Growth Factors and Opportunities
7.6.2 Top Key Companies
7.6.3 Historic and Forecasted Market Size by Segments
7.6.4 Historic and Forecasted Market Size By Type
7.6.4.1 Rotary Torque Sensors
7.6.4.2 Reaction Torque Sensors
7.6.5 Historic and Forecasted Market Size By Application
7.6.5.1 Automotive
7.6.5.2 Test & Measurement
7.6.5.3 Industrial
7.6.5.4 Aerospace & Defense
7.6.5.5 Manufacturing
7.6.5.6 Others
7.6.6 Historic and Forecast Market Size by Country
7.6.6.1 Turkiye
7.6.6.2 Bahrain
7.6.6.3 Kuwait
7.6.6.4 Saudi Arabia
7.6.6.5 Qatar
7.6.6.6 UAE
7.6.6.7 Israel
7.6.6.8 South Africa
7.7 . South America Torque Sensors Market
7.7.1 Key Market Trends, Growth Factors and Opportunities
7.7.2 Top Key Companies
7.7.3 Historic and Forecasted Market Size by Segments
7.7.4 Historic and Forecasted Market Size By Type
7.7.4.1 Rotary Torque Sensors
7.7.4.2 Reaction Torque Sensors
7.7.5 Historic and Forecasted Market Size By Application
7.7.5.1 Automotive
7.7.5.2 Test & Measurement
7.7.5.3 Industrial
7.7.5.4 Aerospace & Defense
7.7.5.5 Manufacturing
7.7.5.6 Others
7.7.6 Historic and Forecast Market Size by Country
7.7.6.1 Brazil
7.7.6.2 Argentina
7.7.6.3 Rest of SA
Chapter 8 Analyst Viewpoint and Conclusion
8.1 Recommendations and Concluding Analysis
8.2 Potential Market Strategies
Chapter 9 Research Methodology
9.1 Research Process
9.2 Primary Research
9.3 Secondary Research
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Torque Sensors Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 1.0 Billion |
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Forecast Period 2024-32 CAGR: |
8.3% |
Market Size in 2032: |
USD 23.5 Billion |
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Segments Covered: |
By Type |
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By Application |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Torque Sensors Market research report is 2024-2032.
Applied Measurements (UK), AVL List GmbH (Austria), Honeywell International Inc. (USA), HPI (USA), Kistler Instrumente AG (Switzerland), MTS Systems Corporation (USA), Nidec Corporation (Japan), Omega Engineering Inc. (USA), PCB Piezotronics Inc. (USA), Rotalink Ltd. (UK), SENSITRON (Italy), Teledyne Technologies Incorporated (USA), Trimble Inc. (USA), ZF Friedrichshafen AG (Germany), ZwickRoell GmbH & Co. KG (Germany), and Other Active Players.
The Torque Sensors Market is segmented into Type, Application, and region. By Type, the market is categorized into Rotary Torque Sensors, Reaction Torque Sensors. By Application, the market is categorized into Automotive, Test & Measurement, Industrial, Aerospace & Defense, Manufacturing, Others. By region, it is analyzed across North America (U.S., Canada, Mexico), Eastern Europe (Russia, Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe), Western Europe (Germany, UK, France, The Netherlands, Italy, Spain, Rest of Western Europe), Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC), Middle East & Africa (Turkiye, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa), South America (Brazil, Argentina, Rest of SA).
Torque sensors market can be defined as those instruments, which provide an assessment of rotational force, or torque, applied onto an object which is in rotation, and they find application in numerous industries. These sensors; enables the electrical transformation of mechanical torque with potential for precise monitoring and measuring. Torque Sensor finds explicit use among automotive industries, aerospace manufacturing industries, manufacturing of industrial machinery and in robotics where measurement of the torque is a valuable point for performance, efficiency and operational safety. Global torque sensor market has experienced tremendous growth triggered by innovation in sensor systems, a rise in automation of manufacturing process, and heightened need for precise equipment in dynamic applications.
Torque Sensors Market Size Was Valued at USD 1.0 Billion in 2023, and is Projected to Reach USD 23.5 Billion by 2032, Growing at a CAGR of 8.3% From 2024-2032.
