Torque Sensor Market - Latest Advancement And Analysis

Torque Sensor Market Synopsis

Torque Sensor Market Size Was Valued at USD 8.9 Billion in 2023, and is Projected to Reach USD 17.5 Billion by 2032, Growing at a CAGR of 7.8% From 2024-2032.

Torque sensors generally utilize a number of transduction techniques to convert the mechanical deformation to electrical signals. Among these techniques, the most widely used is based on the use of strain gauges, these are objects whose electrical resistance is changed under mechanical stress. These gauges are attached to a sensing element that changes its shape under the influence of the torque. It also includes piezoelectric sensing; capacitive sensing; and sensing due to variations in magnetic field.

• The market for Torque Sensor is growing at a very fast pace due to increasing demand of EPS Systems and increasing popularity of Electric & Hybrid Vehicles. The automotive industry has perhaps undergone major transformation in the last few years due to the radical changes that have occurred in the different technologies that apply to automobiles and their usage. However, this could be vastly refined, and some noteworthy inventions include electric power steering commonly known as (EPS). Thus, the given work proved that EPS also known as electric power steering is a superior type of power steering, highly sensitive, efficient and friendly to the environment than the hydraulic power steering system.
• Also, based on the driving circumstance, this system is capable of providing partial or full steering aid. For instance, assistance can be at the peak during parking operations where it can be slightly reduced during other functions like high speed drive to allow the drivers exercise control. The features like parking aid and lane keeping aid can be incorporated with EPS. It enhances the safety procedures in place and also provides the foundation for enhanced development of the self-driving automobiles.
• Hence, a key aim of the EPS system is the achievement of safer, more efficient and comfortable transport, with benefits including optimal fuel consumption through to more immediate handling responses. It is forecasted that the function of EPS will increase because the automotive industry will advance more, contributing to the continual creation of the modern car. Therefore, increasing the application of the electric power system fosters the demand for torque sensors in the forecast period.

Torque Sensor Market Trend Analysis

Automotive industry innovation

• The automotive industry in particular is the main influencing factor to the market. With manufacturers of autos introducing new models of electric and hybrid cars into the market, manufacturers are more and more requiring sophisticated measurement for torque. Electric torque sensors are educational features in EPS, regenerative brake, and various other hi-tech car innovations. There is a growing popularity of environmentally friendly and fuel-efficient automobiles to push the uptake of electric powertrains linking the sensors to a vast market. Moreover, the growing incorporation of these sensors in different modes of vehicle specially self-driving cars to address the issues related to control and feedback of vehicles in different speeds and challenging situations is fostering market growth.

Renewable energy expansion

• The ever growing concern for the use of sustainable and renewable resources for energy is one of the leading factors that are positively contributing to the rise in the market. In the wind turbines, these sensors are very relevant in tracking the performance of the rotating blades. Due to growing needs for clean energy solutions, the wind energy industry is developing fast, which translates into the higher use of such sensors. Further, they are involved in erecting and setting up of solar tracking systems to maximize the collection of solar power during the day. The increase in consumer consciousness toward renewable energy projects across the global along with the development in the technologies of the sensors are really helping to boost up the market as these sensors are creating the necessity part of the renewable energy applications.

Torque Sensor Market Segment Analysis:

• Torque Sensor Market Segmented based on Type, Application, Configuration, Technology, and Industry Vertical.

By Configuration, wired segment is expected to dominate the market during the forecast period

• Due to Configuration the Torque Sensor Market has Classified in to Wired Torque Sensor and Wireless Torque Sensor. Unlike many HMI systems, wired torque sensor is used and it is connected through the cable. A small connector can be used to connect signal or the sensor can simply be wired directly. The type selects the amount of torque, or twisting force, that the tool will apply to an object. Wired torque sensors are used in truck and automotive applications, industrial equipment, and various medical devices. Wired torque sensor could be said that it is a reliable and accurate way of measuring torque. The are of different capacities and are applicable under static and as well as dynamic force conditions.

By Application, Robotics segment held the largest share in 2023

• According to application, the torque sensor market covers Robotics, Engines, Automotive safety system, Assembly welding, Aircraft flight control, medical devices, and Others.
• They are applied to determine the strain in the shafts, to test the clutches and gearboxes and for measurement of the dynamic torque within the engine. In addition electrical power meters for monitoring of horsepower are accompanied by torque sensors which are used for testing power train ,braking system, and suspension system for achieving best fuel economy. Using the identified automotive diagnostics data points as an example, many automakers employ in-vehicle torque sensors to map the engine torque loads and calibrate automatic transmissions per Camden et al. In some cases, measurements can be quite complex, for instance engine torque. The first technique is to install instruments to the flywheel, which is linked to the vehicle???s crankshaft of the engine and a torque converter. Yet another difficult application of torque measuring in the automobile industry is measuring of torque in CV (constant velocity) joints. The CV joint allows a driveshaft to transmit power at some constant angular velocity even when the angle between the two connecting shafts is not constant, hence without much hastening the wearing away due to friction. However, these torque measurements can be sometimes problematic due to the space constraints. However, manufacturers have workarounds.

Torque Sensor Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• North America region of the US, Canada and Mexico is currently holding a dominant share in torque sensor technology advancement. The remote torque sensor market in North America is expanding because of the following reasons. Firstly, there is a concern towards the evaluation of various systems in machines motors and engines among others area in the region thereby leading to a high demand of torque sensors in the region across the different industries. These sensors are widely used in Robotics, Engines, Automobile safety system, Assembly & welding, Aircraft, spar flight control, and medical instruments.

Active Key Players in the Torque Sensor Market

• Applied Measurements Limited
• Crane Electronics Inc.
• Datum Electronics Limited (Indutrade AB)
• FUTEK Advanced Sensor Technology Inc.
• Hitachi Limited
• Honeywell International Inc.
• Hottinger Baldwin Messtechnik GmbH (Spectris plc)
• Infineon Technologies AG
• Kistler Holding AG
• Norbar Torque Tools Limited (Snap-on Incorporated)
• PCB Piezotronics Inc. (MTS Systems Corporation)
• Other Key Players

Key Industry Developments in the Torque Sensor Market:

• December 7, 2023: Due to the efforts of Hitachi Limited to introduce the ???AI Transformation??? internally and externally will enhance business productivity and boost business opportunities.
• December 19, 2023: Honeywell International Inc. released it has signed a deal where Honeywell Building Solutions help with building management and safety technology in Reliance Life Sciences (RLS).
• December 18, 2023: At the occasion of the Climate Ambition Summit, Infineon Technologies AG responded to the call of raising climate ambition with a letter of intent to agree on science based targets. Which will allow the company to go even deeper with climate strategy.

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 Sensor Market by Type (2018-2032)
 4.1 Torque Sensor Market Snapshot and Growth Engine
 4.2 Market Overview
 4.3 Dynamic Torque Sensor
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  4.3.3 Key Market Trends, Growth Factors, and Opportunities
  4.3.4 Geographic Segmentation Analysis
 4.4 Joint Torque Sensor
 4.5 6 axis force/torque sensor
 4.6 4 Axis force/torque sensor
 4.7 Static Torque Sensor

Chapter 5: Torque Sensor Market by Configuration (2018-2032)
 5.1 Torque Sensor Market Snapshot and Growth Engine
 5.2 Market Overview
 5.3 Wired Torque Sensor
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  5.3.3 Key Market Trends, Growth Factors, and Opportunities
  5.3.4 Geographic Segmentation Analysis
 5.4 Wireless Torque Sensor

Chapter 6: Torque Sensor Market by Application (2018-2032)
 6.1 Torque Sensor Market Snapshot and Growth Engine
 6.2 Market Overview
 6.3 Robotics
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  6.3.3 Key Market Trends, Growth Factors, and Opportunities
  6.3.4 Geographic Segmentation Analysis
 6.4 Engines
 6.5 Automotive safety system
 6.6 Assembly welding
 6.7 Aircraft flight control
 6.8 Medical devices
 6.9 Others

Chapter 7: Torque Sensor Market by Tecghnology (2018-2032)
 7.1 Torque Sensor Market Snapshot and Growth Engine
 7.2 Market Overview
 7.3 Surface Acoustic Wave
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  7.3.3 Key Market Trends, Growth Factors, and Opportunities
  7.3.4 Geographic Segmentation Analysis
 7.4 Magnetoelastic
 7.5 Optical
 7.6 Strain Gauge

Chapter 8: Torque Sensor Market by Industry Vertical (2018-2032)
 8.1 Torque Sensor Market Snapshot and Growth Engine
 8.2 Market Overview
 8.3 Automotive
  8.3.1 Introduction and Market Overview
  8.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  8.3.3 Key Market Trends, Growth Factors, and Opportunities
  8.3.4 Geographic Segmentation Analysis
 8.4 Industrial
 8.5 Test & Measurement
 8.6 Aerospace & Defense
 8.7 Healthcare
 8.8 Others

Chapter 9: Company Profiles and Competitive Analysis
 9.1 Competitive Landscape
  9.1.1 Competitive Benchmarking
  9.1.2 Torque Sensor Market Share by Manufacturer (2024)
  9.1.3 Industry BCG Matrix
  9.1.4 Heat Map Analysis
  9.1.5 Mergers and Acquisitions  
 9.2 APPLIED MEASUREMENTS LIMITED
  9.2.1 Company Overview
  9.2.2 Key Executives
  9.2.3 Company Snapshot
  9.2.4 Role of the Company in the Market
  9.2.5 Sustainability and Social Responsibility
  9.2.6 Operating Business Segments
  9.2.7 Product Portfolio
  9.2.8 Business Performance
  9.2.9 Key Strategic Moves and Recent Developments
  9.2.10 SWOT Analysis
 9.3 CRANE ELECTRONICS INCDATUM ELECTRONICS LIMITED (INDUTRADE AB)
 9.4 FUTEK ADVANCED SENSOR TECHNOLOGY INCHITACHI LIMITED
 9.5 HONEYWELL INTERNATIONAL INCHOTTINGER BALDWIN MESSTECHNIK GMBH (SPECTRIS PLC)
 9.6 INFINEON TECHNOLOGIES AG
 9.7 KISTLER HOLDING AG
 9.8 NORBAR TORQUE TOOLS LIMITED (SNAP-ON INCORPORATED)
 9.9 PCB PIEZOTRONICS INC. (MTS SYSTEMS CORPORATION)
 9.10 OTHER KEY PLAYERS

Chapter 10: Global Torque Sensor Market By Region
 10.1 Overview
 10.2. North America Torque Sensor Market
  10.2.1 Key Market Trends, Growth Factors and Opportunities
  10.2.2 Top Key Companies
  10.2.3 Historic and Forecasted Market Size by Segments
  10.2.4 Historic and Forecasted Market Size by Type
  10.2.4.1 Dynamic Torque Sensor
  10.2.4.2 Joint Torque Sensor
  10.2.4.3 6 axis force/torque sensor
  10.2.4.4 4 Axis force/torque sensor
  10.2.4.5 Static Torque Sensor
  10.2.5 Historic and Forecasted Market Size by Configuration
  10.2.5.1 Wired Torque Sensor
  10.2.5.2 Wireless Torque Sensor
  10.2.6 Historic and Forecasted Market Size by Application
  10.2.6.1 Robotics
  10.2.6.2 Engines
  10.2.6.3 Automotive safety system
  10.2.6.4 Assembly welding
  10.2.6.5 Aircraft flight control
  10.2.6.6 Medical devices
  10.2.6.7 Others
  10.2.7 Historic and Forecasted Market Size by Tecghnology
  10.2.7.1 Surface Acoustic Wave
  10.2.7.2 Magnetoelastic
  10.2.7.3 Optical
  10.2.7.4 Strain Gauge
  10.2.8 Historic and Forecasted Market Size by Industry Vertical
  10.2.8.1 Automotive
  10.2.8.2 Industrial
  10.2.8.3 Test & Measurement
  10.2.8.4 Aerospace & Defense
  10.2.8.5 Healthcare
  10.2.8.6 Others
  10.2.9 Historic and Forecast Market Size by Country
  10.2.9.1 US
  10.2.9.2 Canada
  10.2.9.3 Mexico
 10.3. Eastern Europe Torque Sensor Market
  10.3.1 Key Market Trends, Growth Factors and Opportunities
  10.3.2 Top Key Companies
  10.3.3 Historic and Forecasted Market Size by Segments
  10.3.4 Historic and Forecasted Market Size by Type
  10.3.4.1 Dynamic Torque Sensor
  10.3.4.2 Joint Torque Sensor
  10.3.4.3 6 axis force/torque sensor
  10.3.4.4 4 Axis force/torque sensor
  10.3.4.5 Static Torque Sensor
  10.3.5 Historic and Forecasted Market Size by Configuration
  10.3.5.1 Wired Torque Sensor
  10.3.5.2 Wireless Torque Sensor
  10.3.6 Historic and Forecasted Market Size by Application
  10.3.6.1 Robotics
  10.3.6.2 Engines
  10.3.6.3 Automotive safety system
  10.3.6.4 Assembly welding
  10.3.6.5 Aircraft flight control
  10.3.6.6 Medical devices
  10.3.6.7 Others
  10.3.7 Historic and Forecasted Market Size by Tecghnology
  10.3.7.1 Surface Acoustic Wave
  10.3.7.2 Magnetoelastic
  10.3.7.3 Optical
  10.3.7.4 Strain Gauge
  10.3.8 Historic and Forecasted Market Size by Industry Vertical
  10.3.8.1 Automotive
  10.3.8.2 Industrial
  10.3.8.3 Test & Measurement
  10.3.8.4 Aerospace & Defense
  10.3.8.5 Healthcare
  10.3.8.6 Others
  10.3.9 Historic and Forecast Market Size by Country
  10.3.9.1 Russia
  10.3.9.2 Bulgaria
  10.3.9.3 The Czech Republic
  10.3.9.4 Hungary
  10.3.9.5 Poland
  10.3.9.6 Romania
  10.3.9.7 Rest of Eastern Europe
 10.4. Western Europe Torque Sensor Market
  10.4.1 Key Market Trends, Growth Factors and Opportunities
  10.4.2 Top Key Companies
  10.4.3 Historic and Forecasted Market Size by Segments
  10.4.4 Historic and Forecasted Market Size by Type
  10.4.4.1 Dynamic Torque Sensor
  10.4.4.2 Joint Torque Sensor
  10.4.4.3 6 axis force/torque sensor
  10.4.4.4 4 Axis force/torque sensor
  10.4.4.5 Static Torque Sensor
  10.4.5 Historic and Forecasted Market Size by Configuration
  10.4.5.1 Wired Torque Sensor
  10.4.5.2 Wireless Torque Sensor
  10.4.6 Historic and Forecasted Market Size by Application
  10.4.6.1 Robotics
  10.4.6.2 Engines
  10.4.6.3 Automotive safety system
  10.4.6.4 Assembly welding
  10.4.6.5 Aircraft flight control
  10.4.6.6 Medical devices
  10.4.6.7 Others
  10.4.7 Historic and Forecasted Market Size by Tecghnology
  10.4.7.1 Surface Acoustic Wave
  10.4.7.2 Magnetoelastic
  10.4.7.3 Optical
  10.4.7.4 Strain Gauge
  10.4.8 Historic and Forecasted Market Size by Industry Vertical
  10.4.8.1 Automotive
  10.4.8.2 Industrial
  10.4.8.3 Test & Measurement
  10.4.8.4 Aerospace & Defense
  10.4.8.5 Healthcare
  10.4.8.6 Others
  10.4.9 Historic and Forecast Market Size by Country
  10.4.9.1 Germany
  10.4.9.2 UK
  10.4.9.3 France
  10.4.9.4 The Netherlands
  10.4.9.5 Italy
  10.4.9.6 Spain
  10.4.9.7 Rest of Western Europe
 10.5. Asia Pacific Torque Sensor Market
  10.5.1 Key Market Trends, Growth Factors and Opportunities
  10.5.2 Top Key Companies
  10.5.3 Historic and Forecasted Market Size by Segments
  10.5.4 Historic and Forecasted Market Size by Type
  10.5.4.1 Dynamic Torque Sensor
  10.5.4.2 Joint Torque Sensor
  10.5.4.3 6 axis force/torque sensor
  10.5.4.4 4 Axis force/torque sensor
  10.5.4.5 Static Torque Sensor
  10.5.5 Historic and Forecasted Market Size by Configuration
  10.5.5.1 Wired Torque Sensor
  10.5.5.2 Wireless Torque Sensor
  10.5.6 Historic and Forecasted Market Size by Application
  10.5.6.1 Robotics
  10.5.6.2 Engines
  10.5.6.3 Automotive safety system
  10.5.6.4 Assembly welding
  10.5.6.5 Aircraft flight control
  10.5.6.6 Medical devices
  10.5.6.7 Others
  10.5.7 Historic and Forecasted Market Size by Tecghnology
  10.5.7.1 Surface Acoustic Wave
  10.5.7.2 Magnetoelastic
  10.5.7.3 Optical
  10.5.7.4 Strain Gauge
  10.5.8 Historic and Forecasted Market Size by Industry Vertical
  10.5.8.1 Automotive
  10.5.8.2 Industrial
  10.5.8.3 Test & Measurement
  10.5.8.4 Aerospace & Defense
  10.5.8.5 Healthcare
  10.5.8.6 Others
  10.5.9 Historic and Forecast Market Size by Country
  10.5.9.1 China
  10.5.9.2 India
  10.5.9.3 Japan
  10.5.9.4 South Korea
  10.5.9.5 Malaysia
  10.5.9.6 Thailand
  10.5.9.7 Vietnam
  10.5.9.8 The Philippines
  10.5.9.9 Australia
  10.5.9.10 New Zealand
  10.5.9.11 Rest of APAC
 10.6. Middle East & Africa Torque Sensor Market
  10.6.1 Key Market Trends, Growth Factors and Opportunities
  10.6.2 Top Key Companies
  10.6.3 Historic and Forecasted Market Size by Segments
  10.6.4 Historic and Forecasted Market Size by Type
  10.6.4.1 Dynamic Torque Sensor
  10.6.4.2 Joint Torque Sensor
  10.6.4.3 6 axis force/torque sensor
  10.6.4.4 4 Axis force/torque sensor
  10.6.4.5 Static Torque Sensor
  10.6.5 Historic and Forecasted Market Size by Configuration
  10.6.5.1 Wired Torque Sensor
  10.6.5.2 Wireless Torque Sensor
  10.6.6 Historic and Forecasted Market Size by Application
  10.6.6.1 Robotics
  10.6.6.2 Engines
  10.6.6.3 Automotive safety system
  10.6.6.4 Assembly welding
  10.6.6.5 Aircraft flight control
  10.6.6.6 Medical devices
  10.6.6.7 Others
  10.6.7 Historic and Forecasted Market Size by Tecghnology
  10.6.7.1 Surface Acoustic Wave
  10.6.7.2 Magnetoelastic
  10.6.7.3 Optical
  10.6.7.4 Strain Gauge
  10.6.8 Historic and Forecasted Market Size by Industry Vertical
  10.6.8.1 Automotive
  10.6.8.2 Industrial
  10.6.8.3 Test & Measurement
  10.6.8.4 Aerospace & Defense
  10.6.8.5 Healthcare
  10.6.8.6 Others
  10.6.9 Historic and Forecast Market Size by Country
  10.6.9.1 Turkiye
  10.6.9.2 Bahrain
  10.6.9.3 Kuwait
  10.6.9.4 Saudi Arabia
  10.6.9.5 Qatar
  10.6.9.6 UAE
  10.6.9.7 Israel
  10.6.9.8 South Africa
 10.7. South America Torque Sensor Market
  10.7.1 Key Market Trends, Growth Factors and Opportunities
  10.7.2 Top Key Companies
  10.7.3 Historic and Forecasted Market Size by Segments
  10.7.4 Historic and Forecasted Market Size by Type
  10.7.4.1 Dynamic Torque Sensor
  10.7.4.2 Joint Torque Sensor
  10.7.4.3 6 axis force/torque sensor
  10.7.4.4 4 Axis force/torque sensor
  10.7.4.5 Static Torque Sensor
  10.7.5 Historic and Forecasted Market Size by Configuration
  10.7.5.1 Wired Torque Sensor
  10.7.5.2 Wireless Torque Sensor
  10.7.6 Historic and Forecasted Market Size by Application
  10.7.6.1 Robotics
  10.7.6.2 Engines
  10.7.6.3 Automotive safety system
  10.7.6.4 Assembly welding
  10.7.6.5 Aircraft flight control
  10.7.6.6 Medical devices
  10.7.6.7 Others
  10.7.7 Historic and Forecasted Market Size by Tecghnology
  10.7.7.1 Surface Acoustic Wave
  10.7.7.2 Magnetoelastic
  10.7.7.3 Optical
  10.7.7.4 Strain Gauge
  10.7.8 Historic and Forecasted Market Size by Industry Vertical
  10.7.8.1 Automotive
  10.7.8.2 Industrial
  10.7.8.3 Test & Measurement
  10.7.8.4 Aerospace & Defense
  10.7.8.5 Healthcare
  10.7.8.6 Others
  10.7.9 Historic and Forecast Market Size by Country
  10.7.9.1 Brazil
  10.7.9.2 Argentina
  10.7.9.3 Rest of SA

Chapter 11 Analyst Viewpoint and Conclusion
11.1 Recommendations and Concluding Analysis
11.2 Potential Market Strategies

Chapter 12 Research Methodology
12.1 Research Process
12.2 Primary Research
12.3 Secondary Research