Torque Sensor Market Size, Share, and Industry Report [2031]

Segments - Torque Sensor Market by Types (Rotary Torque Sensors and Reaction Torque Sensors), Technology (Strain Gauge, Surface Acoustic Wave (SAW), Optical, and Magnetoelastic), Applications (Automotive, Test & Measurement, Industrial, Aerospace & Defense, and Others), and Regions (North America, Asia Pacific, Europe, Middle East & Africa, and Latin America) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

The global torque sensor market size was valued at USD 7.19 Billion in 2022 and is likely to reach USD 11.84 Billion by 2031, expanding at a CAGR of 5.7% during 2023 – 2031.Torque sensor is a device that converts mechanical torque into electrical signal.

Torque measurement is important in the testing of transmissions, engines, turbines, pumps, and power measurement in propulsion systems. Torque sensors are compatible with a range of instruments that include analog and digital displays.

Market Trends, Drivers, Restraints, and Opportunities

Increasing adoption of the torque sensors for torque measurement that helps to increase the efficiency of the machines, embedded systems, and engines is expected to drive the market growth.
Increasing adoption of the torque sensors in the electric vehicles is expected to boost the market growth during the forecast period.
The cost-effectiveness of the torque sensors than other types of the sensors is expected to be a key factor for the market growth.
Low reliability of the torque sensors for the high-end application is expected to restrain the market growth during the forecast period.
Recent technological advancements in the industry by the market players is expected to create lucrative opportunities for the market during the forecast period.

Scope of Torque Sensors Market Report

The report on the torque sensors market includes an assessment of the market share, segments, size, trends and regional markets. Overview and dynamics are included in the report.

Attributes	Details
Report Title	Global Torque Sensor Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
Base Year	2022
Historic Data	2016 & 2021
Forecast Period	2023 to 2031
Segmentation	Types (Rotary Torque Sensors and Reaction Torque Sensors), Technology (Strain Gauge, Surface Acoustic Wave (SAW), Optical, and Magnetoelastic), Applications (Automotive, Test & Measurement, Industrial, Aerospace & Defense, and Others)
Regional Scope	Asia-Pacific, Europe, Africa, Latin America North America, and Middle East
Report Covers	Market scope, growth facts, restraints, analysis, share, opportunities, competitive analysis and revenue forecast

Torque Sensor Market Segment Insights

Based on types, the market can be bifurcated into rotary torque sensors and reaction torque sensors. The rotary sensor segment led the market in 2020 and is expected to account a significant market share owing to its application in automobile sector for testing engines, dynamometer, electric motor, and drivetrain measurement. The increasing shift of the customers toward fuel efficient vehicles is expected to drive the market growth during the forecast period.

On the basis of technology, the torque sensor market can be divided into strain gauge, surface acoustic wave (SAW), optical, and magnetoelastic. The strain gauge segment is estimated to exhibit a sustainable CAGR during the forecast period. On the other hand, the SAW segment is estimated to hold a considerable market share in the projected timeline.

In terms of applications, the market can be categorized as automotive, test & measurement, industrial, aerospace & defense, and others. The automotive segment is expected to have a significant growth rate during the forecast period due to the application of the sensors to calibrate automatic transmissions and mapping engine torque, testing clutches and gearboxes.

Stringent rules for the emissions, electrification technology, and the changing buyer preferences are attributed to be other significant factors that are expected to increase the demand for the sensors in the sector, thereby contributing to the growth of the segment during the forecast period.

Based on regions, the torque sensors market can be segregated into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America. Asia Pacific is expected to register a robust growth during the forecast period. China, South Korea, Japan are major markets in the region owing to the presence of key players in the region.

The increased requirement for production of energy and manufacturing of goods for export is anticipated to contribute to the growth of the market in the region. Moreover, rising demand for electric vehicles in major markets such as Japan and China are expected to be major revenue contributors to the market in the region.

Additionally, growing research and development activities by the manufacturers to develop electronic technology electronic technology for the vehicles is anticipated to boost the market in the region.

Segments

Types

Rotary Torque Sensors
Reaction Torque Sensors
COVID-19 impact on types of torque sensors

Technology

Strain Gauge
Surface Acoustic Wave (SAW)
Optical
Magnetoelastic

Applications

Automotive
Test & Measurement
Industrial
Aerospace & Defense
Others

Regions

North America
Asia Pacific
Europe
Middle East
Latin America
Africa

Key Players

ABB
Teledyne Technologies
Crane Electronics
Norbar Torque Tools
FUTEK Advanced Sensor Technology
Interface
HBM
Applied Measurements
Honeywell
Kistler Holding
Sensor Technology
Infineon Technologies
Datum Electronics
HITEC Sensor Solutions and Bota Systems
MagCanica
AIMCO
TE Connectivity
Mountz
PCB Piezotronics
S. Himmelstein & Company
Transense Technologies
KONUX
Monad Electronics
Robotiq

Competitive Landscape

The key рlаyers in the torque sensоrs mаrket are ABB, Teledyne Technologies, Crane Electronics, Norbar Torque Tools, FUTEK Advanced Sensor Technology, Interface, HBM, Applied Measurements, Honeywell, Kistler Holding, Sensor Technology, Infineon Technologies, Datum Electronics, HITEC Sensor Solutions and Bota Systems, MagCanica, AIMCO, TE Connectivity, Mountz, PCB Piezotronics, S. Himmelstein & Company, Transense Technologies, KONUX, Monad Electronics, and Robotiq. These players are engaged in agreements, mergers, acquisitions, partnerships, collaborations, and to strengthen their geographical presence.

Torque Sensor Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Torque Sensor Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Torque Sensor Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Torque Sensor Market - Supply Chain
  4.5. Global Torque Sensor Market Forecast
     4.5.1. Torque Sensor Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Torque Sensor Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Torque Sensor Market Absolute $ Opportunity
5. Global Torque Sensor Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Torque Sensor Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Torque Sensor Demand Share Forecast, 2019-2026
6. North America Torque Sensor Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Torque Sensor Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Torque Sensor Demand Share Forecast, 2019-2026
7. Latin America Torque Sensor Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Torque Sensor Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Torque Sensor Demand Share Forecast, 2019-2026
8. Europe Torque Sensor Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Torque Sensor Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Torque Sensor Demand Share Forecast, 2019-2026
9. Asia Pacific Torque Sensor Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Torque Sensor Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Torque Sensor Demand Share Forecast, 2019-2026
10. Middle East & Africa Torque Sensor Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Torque Sensor Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Torque Sensor Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Torque Sensor Market: Market Share Analysis
  11.2. Torque Sensor Distributors and Customers
  11.3. Torque Sensor Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. ABB Teledyne Technologies Crane Electronics Norbar Torque Tools FUTEK Advanced Sensor Technology Interface HBM Applied Measurements Honeywell Kistler Holding Sensor Technology Infineon Technologies Datum Electronics HITEC Sensor Solutions and Bota Systems MagCanica AIMCO TE Connectivity Mountz PCB Piezotronics S. Himmelstein & Company Transense Technologies KONUX Monad Electronics Robotiq