Global Torque Sensor Market Outlook, 2029

The Global Torque Sensor Market is estimated at USD 8.6 billion in 2024 , driven by Increasing automation in various industries.

According to publisher, Here is the Global Torque Sensor Market Report. Market Insights The global torque sensor market is experiencing steady growth, driven by advancements in automation and the rise of electric vehicles (EVs). Market research suggests the market size reached an estimated USD 8.6 billion in 2024, and is projected to reach USD 15.2 billion by 2034, exhibiting a Compound Annual Growth Rate (CAGR) of 5.8%. This growth is attributed to several factors: Increasing automation in various industries, including automotive and manufacturing, necessitates precise torque measurement for efficient operation and quality control. For instance, robotic arms used in assembly lines heavily rely on torque sensors for accurate movement and force control. The booming EV market is a significant growth driver. Torque sensors play a crucial role in monitoring motor performance, optimizing power delivery, and ensuring efficient energy usage in EVs. Tesla, a leading EV manufacturer, utilizes torque sensors in their vehicles for various applications. Market Dynamics

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The torque sensor market is influenced by several key dynamics: Technological advancements: Development of new sensor technologies, like magnetoelastic and surface acoustic wave (SAW) sensors, offers advantages like improved accuracy and suitability for specialized applications compared to traditional strain gauge technology. Demand for miniaturization: Growing emphasis on space optimization in various industries is driving the demand for smaller and more compact torque sensors. This is particularly relevant in automotive applications and robotics. Sustainability concerns: The focus on eco-friendly solutions is fostering the development of energy-efficient torque sensors. Manufacturers are striving to reduce power consumption and environmental impact. Market Segments The global torque sensor market can be segmented by various factors: By Application: Automotive: Holds the largest market share due to their extensive use in power steering systems, transmissions, and engine management. Industrial Automation: Torque sensors are crucial for robotic arms, assembly lines, and monitoring machinery performance in factories. Medical & Healthcare: Used in surgical tools, prosthetics, and rehabilitation equipment for precise force measurement and control. Test & Measurement: Employed in laboratories and research facilities for various testing applications like material strength analysis. By Technology: Strain Gauge: The most widely used technology, offering high accuracy and versatility. Magnetoelastic: Provides high sensitivity and resistance to harsh environments. Rotary Transformer: Well-suited for applications requiring continuous torque measurement. By Mechanical Configuration: Flange: The dominant configuration, offering ease of installation and suitability for various applications. Shaft: Ideal for applications requiring measurement of torque on rotating shafts.

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Manmayi Raval

Manmayi Raval

Research Consultant

Regional Analysis The global torque sensor market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is expected to witness the fastest growth rate due to factors like: Rapid industrialization and automation adoption in countries like China and India. Growing automotive production, particularly for EVs, in the region. Increasing government investments in infrastructure development, which necessitates advanced sensor technology. Key Developments The torque sensor market is witnessing continuous advancements with key developments such as: Product launches: Leading manufacturers are constantly introducing new and improved torque sensors with enhanced features and functionalities. For instance, TE Connectivity, a major player, launched a high-precision torque sensor specifically designed for electric vehicle applications. Strategic partnerships: Collaborations between sensor manufacturers and automotive companies are accelerating the development and integration of advanced torque sensors in next-generation vehicles. Focus on R&D: Companies are investing heavily in research and development to create more efficient, miniaturized, and cost-effective torque sensors. Competitive Landscape The global torque sensor market is moderately competitive, with a mix of established players and emerging companies. Some of the key players include: TE Connectivity (USA) Honeywell International Inc. (USA) AMETEK Inc. (USA) HBM (Germany) Vishay Precision Group (USA) SIKO GmbH (Germany) Transducer Techniques (UK) These companies are actively involved in expanding their product portfolios, geographical reach, and technological advancements to gain a competitive edge in the market. This report provides a brief overview of the global torque sensor market. The market is expected to experience significant growth in the coming years, driven by the aforementioned factors. As technology evolves and new applications emerge, the torque sensor market is poised for further expansion and innovation.

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Table of Contents

  • Table Of Contents
  • Figures And Tables
  • Part 1. Introduction
  • 1.1 Description
  • 1.2 Objectives Of The Study
  • 1.3 Market Segment
  • 1.4 Years Considered For The Report
  • 1.5 Currency
  • 1.6 Key Target Audience
  • Part 2. Research Methodology
  • 2.1 Primary Research
  • 2.2 Secondary Research
  • Part 3. Executive Summary
  • Part 4. Market Overview
  • 4.1 Introduction
  • 4.2 Drivers
  • 4.3 Restraints
  • Part 5. Global Torque Sensor Market By Product Type
  • 5.1 Reaction Torque
  • 5.2 Rotational Torque
  • Part 6. Global Torque Sensor Market By End-User
  • 6.1 Automotive And Transportation
  • 6.2 Aerospace
  • 6.3 Manufacturing
  • 6.4 Healthcare
  • 6.5 Others
  • Part 7. Global Torque Sensor Market By Region
  • 7.1 North America
  • 7.2 Europe
  • 7.3 Asia-Pacific
  • 7.4 Mea (Middle East And Africa)
  • 7.5 Latin America
  • Part 8. Company Profiles
  • 8.1 Abb Ltd.
  • 8.2 Applied Measurements Ltd.
  • 8.3 Crane Electronics Group
  • 8.4 Honeywell International Inc.
  • 8.5 Indutrade Ab
  • 8.6 Infineon Technologies Ag
  • 8.7 Kistler Group
  • 8.8 Magcanica Inc.
  • 8.9 Norbar Torque Tools Ltd.
  • 8.10 Pcb Piezotronics Inc.
  • 8.11 Spectris Plc)
  • 8.12 Te Connectivity Ltd.
  • 8.13 Teledyne Technologies Inc.
  • Disclaimer

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Global Torque Sensor Market Outlook, 2029

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