Global Torque Sensor Market size was valued at USD 8.75 Bn in 2023 and is expected to reach USD 13.46 Bn by 2030, at a CAGR of 6.34 %.
Torque Sensor Market Overview
The Torque Sensor market is experiencing steady growth, driven by increasing demand in industries such as automotive, aerospace, and industrial machinery. These sensors play a crucial role in measuring rotational force, making them essential for applications in electric vehicles, robotics, and industrial automation. Technological advancements in wireless and non-contact torque sensors are further driving market innovation.
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Market Forecast and Key Dynamics:
The market is expected to expand steadily due to rising adoption in electric and hybrid vehicles, industrial automation, and renewable energy sectors. Key drivers include increasing focus on precision and efficiency, advancements in sensor technology, and growing demand for energy-efficient systems.
Torque Sensor Market Regional Insights
North America and Europe dominate the torque sensor market, driven by robust automotive, aerospace, and industrial sectors, alongside increasing adoption of electric vehicles and automation technologies. These regions benefit from strong R&D capabilities and high demand for precision in manufacturing. The Asia Pacific region is poised for rapid growth, fueled by rising automotive production, industrialization, and investment in automation in countries like China, Japan, and South Korea.
Torque Sensor Market Segmentation
By Product Type
Reaction Torque
Rotary Torque
By Mechanical Configuration
Shaft Style
Flange Style
By Technology
Strain Gauge
Surface Acoustic Wave
Optical
Magnetoelastic
Others
By Application
Automotive
Aerospace
Manufacturing
Medical
Other
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Torque Sensor Market Key Players
ABB Ltd (Switzerland)
Crane Electronics Ltd (United Kingdom)
TE Connectivity Ltd (Switzerland)
NSK Global (Japan)
HBK Benelux (Spectris PLC) (Netherlands)
Applied Measurements Ltd (United Kingdom)
Honeywell International (USA)
Norbar Torque Tools Ltd (United Kingdom)
Infineon Technologies AG (Germany)
Teledyne Technologies, Inc. (USA)
Datum Electronics Ltd (United Kingdom)
PCB Piezotronics, Inc. (USA)
Kistler Instrumente AG (Switzerland)
MagCanica, Inc. (USA)
FUTEK Advanced Sensor Technology (USA)
Interfaceforce (USA)
Key questions answered in the Torque Sensor Market are:
- What is Torque Sensor?
- What was the Torque Sensor market size in 2021?
- What is the growth rate of the Torque Sensor Market?
- Which are the factors expected to drive the Torque Sensor market growth?
- What are the different segments of the Torque Sensor Market?
- What growth strategies are the players considering to increase their presence in Torque Sensor?
- What are the upcoming industry applications and trends for the Torque Sensor Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Torque Sensor Market?
- What segments are covered in the Torque Sensor Market?
- Who are the leading companies and what are their portfolios in Torque Sensor Market?
- What segments are covered in the Torque Sensor Market?
- Who are the key players in the Torque Sensor market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by Different Segment | 2022-2027
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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