Torque Sensors Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2033

Description

Persistence Market Research has recently published a detailed report on the global Torque Sensors Market. This report offers an in-depth analysis of critical market dynamics, including drivers, trends, opportunities, and challenges, providing comprehensive insights into the market structure.

Key Insights:

Torque Sensors Market Size (2024E): USD 7.7 Bn
Projected Market Value (2033F): USD 13 Bn
Global Market Growth Rate (CAGR 2024 to 2033): 6.10%

Torque Sensors Market - Report Scope:

The Torque Sensors Market encompasses a variety of products designed to measure and monitor the torque applied in various mechanical systems. This market includes different types of torque sensors, such as rotary torque sensors, reaction torque sensors, and non-contact torque sensors, which are essential for ensuring accurate and efficient operation in a wide range of applications. The market serves diverse segments, including automotive, aerospace, industrial machinery, medical devices, and consumer electronics, distributed through various channels like direct sales, online platforms, and specialized distributors. Growth is driven by the increasing demand for precision in mechanical systems, rising adoption of automation, and the growing need for real-time torque monitoring solutions.

Market Growth Drivers:

Several key factors drive the global Torque Sensors Market. The rising demand for precision and reliability in mechanical systems, particularly in the automotive and industrial sectors, boosts the demand for torque sensors. Technological advancements in sensor design and materials enhance the accuracy and durability of these products, fueling market expansion. Additionally, the growing trend of automation in various industries drives the demand for advanced torque monitoring systems. Increased investments in research and development and a focus on improving product performance also contribute to market growth.

Market Restraints:

Despite promising growth prospects, the Torque Sensors Market faces challenges related to the high cost of advanced sensor technologies and potential issues associated with integrating sensors into complex mechanical systems. The market is also impacted by the presence of low-cost alternatives that offer basic torque measurement capabilities, which can limit market share for advanced torque sensors. Furthermore, the market is influenced by stringent regulations on sensor safety and environmental concerns. Effective consumer education, competitive pricing, and ongoing investment in research and development are necessary to address these issues and maintain a competitive edge.

Market Opportunities:

The market presents significant opportunities driven by the rising trend of automation and increasing awareness about the benefits of advanced torque measurement solutions. The development of high-quality and efficient torque sensors caters to the growing demand for precision in various industries. The expansion of automotive and aerospace projects provides new channels for market growth, allowing companies to reach a broader audience. Increasing industrial automation and the rising number of smart manufacturing initiatives drive the demand for innovative torque sensor solutions. Strategic partnerships, investments in new technologies, and the introduction of novel sensor designs are essential for capitalizing on emerging opportunities and maintaining market leadership.

Key Questions Answered in the Report:

What are the primary factors driving the growth of the Torque Sensors Market globally?
Which types and applications of torque sensors are leading the adoption in various settings?
How are technological advancements influencing the competitive landscape of the Torque Sensors Market?
Who are the key players in the Torque Sensors Market, and what strategies are they employing to stay competitive?
What are the emerging trends and future prospects in the global Torque Sensors Market?

Competitive Intelligence and Business Strategy:

Leading players in the global Torque Sensors Market, including Honeywell International Inc., Kistler Group, and ABB Ltd., focus on innovation, product differentiation, and strategic collaborations to gain a competitive edge. These companies invest in R&D to develop advanced sensor designs and materials, such as strain gauges and magnetic torque sensors. Collaborations with automotive manufacturers, industrial machinery producers, and aerospace firms facilitate market access and promote new product adoption. Emphasis on consumer education, high-quality products, and comprehensive marketing strategies fosters market growth and enhances brand loyalty in the evolving Torque Sensors Market landscape.

Key Companies Profiled:

ABB Ltd.
ATI Industrial Automation, Inc.
FUTEK Advanced Sensor Technology, Inc.
Interface Inc.
Honeywell International Inc.
Crane Electronics Ltd.
Kistler Holding AG
HBM GmBH
Sensor Technology Ltd.
Datum Electronics Limited

Torque Sensors Market Industry Segmentation

By Product

Rotary Torque Sensors
Reaction Torque Sensors
SAW Torque Sensors
Optical Torque Sensors
Others

By Mechanical Configuration

Shaft Style
Flange Style

By Application

Automotive & Transportation
Aerospace & Defense
Medical & Healthcare
Others

By Region

North America
Latin America
Europe
APAC
MEA

Product Code: PMRREP5069

1. Executive Summary

2. Research Methodology

3. Assumptions and Acronyms Used

4. Global Torque Sensors Market Overview

4.1. Introduction
- 4.1.1. Global Torque Sensors Market - Taxonomy
- 4.1.2. Global Torque Sensors Market - Definition
4.2. Global Torque Sensors Market Size and Forecast
- 4.2.1. Global Torque Sensors Market Y-o-Y Growth
- 4.2.2. Global Torque Sensors Market Absolute $ Opportunity
4.3. Global Torque Sensors Market Dynamics
- 4.3.1. Drivers
- 4.3.2. Restraints
4.4. Impact Analysis of Drivers & Restraints
- 4.4.1. Market Trends
- 4.4.2. Global Torque Sensors Market Evolution
4.5. Global Torque Sensors Market Snapshot (2019)

5. Impact of Covid-19 on Market

5.1. Covid-19 The Situation Now
5.2. Effects of National Lockdowns in Various Countries
5.3. Scenarios for Economic Impact of Covid-19 Crisis
5.4. Industries Affected by Coronavirus Outbreak Worldwide
5.5. Projected Recovery for Hardest Hit Sectors
5.6. Coronavirus Impact on The World of Work
5.7. Impact of Covid-19 on Manufacturing Industry
5.8. Manufacturing Purchasing Managers Index, 2024
5.9. Impact of Covid-19 on Supply Chain Worldwide
5.10. Planning & Managing During Covid-19 Pandemic
5.11. Upcoming Pointers Business Leaders Should Focus On

6. Impact of Covid-19 on Torque Sensors Market

6.1. Covid-19 Impact v/s Value of Torque Sensors Market, by Country 2020
6.2. Torque Sensors Sales Projection, 2020 During Covid-19 Pandemic
6.3. Pre Covid-19 Market Forecasts v/s Post Covid-19 Market Forecasts

7. Global Torque Sensors Market Analysis and Forecast, by Product

7.1. Introduction
7.2. Global Torque Sensors Market Size and Forecast, By Product
- 7.2.1. Global Torque Sensors Market Share & BPS Analysis By Product, 2024-2033
- 7.2.2. Global Torque Sensors Market Y-o-Y Growth Comparison By Product, 2024-2033
7.3. Rotary Torque Sensors
- 7.3.1. Global Torque Sensors Market Size (US$ Bn) and Y-o-Y Growth Forecast (%), By Rotary Torque Sensors; 2019-2023
- 7.3.2. Global Torque Sensors Market Absolute $ Opportunity, By Rotary Torque Sensors; 2024-2033
- 7.3.3. Rotary Torque Sensors Segment Value Forecast, by Region
- 7.3.4. Global Torque Sensors Market Trends - By Rotary Torque Sensors
7.4. Reaction Torque Sensors
- 7.4.1. Global Torque Sensors Market Size (US$ Bn) and Y-o-Y Growth Forecast (%), By Rotary Torque Sensors; 2019-2023
- 7.4.2. Global Torque Sensors Market Absolute $ Opportunity, By Reaction Torque Sensors; 2024-2033
- 7.4.3. Reaction Torque Sensors Segment Value Forecast, by Region
- 7.4.4. Global Torque Sensors Market Trends - Reaction Torque Sensors
7.5. SAW Torque Sensors
- 7.5.1. Global Torque Sensors Market Size (US$ Bn) and Y-o-Y Growth Forecast (%), By SAW Torque Sensors; 2019-2023
- 7.5.2. Global Torque Sensors Market Absolute $ Opportunity, By SAW Torque Sensors; 2024-2033
- 7.5.3. Reaction Torque Sensors Segment Value Forecast, by Region
- 7.5.4. Global Torque Sensors Market Trends - SAW Torque Sensors
7.6. Optical Torque Sensors
- 7.6.1. Global Torque Sensors Market Size (US$ Bn) and Y-o-Y Growth Forecast (%), By Optical Torque Sensors; 2019-2023
- 7.6.2. Global Torque Sensors Market Absolute $ Opportunity, By Optical Torque Sensors; 2024-2033
- 7.6.3. Optical Torque Sensors Segment Value Forecast, by Region
- 7.6.4. Global Torque Sensors Market Trend - By Optical Torque Sensors
7.7. Other (Magnetoelastic Torque Sensors)
- 7.7.1. Global Torque Sensors Market Size (US$ Bn) and Y-o-Y Growth Forecast (%), By Other; 2019-2023
- 7.7.2. Global Torque Sensors Market Absolute $ Opportunity, By Other; 2024-2033
- 7.7.3. Other Segment Value Forecast, by Region
7.8. Global Torque Sensors Market Trends - By Other
7.9. Global Torque Sensors Market Attractiveness Analysis, By Product

8. Global Torque Sensors Market Analysis and Forecast, by Mechanical Configuration

8.1. Introduction
8.2. Global Torque Sensors Market Size and Forecast, By Mechanical Configuration
- 8.2.1. Global Torque Sensors Market Share & BPS Analysis, By Mechanical Configuration, 2024-2033
- 8.2.2. Global Torque Sensors Market Y-o-Y Growth Comparison, By Mechanical Configuration, 2024-2033
8.3. Shaft Style
- 8.3.1. Global Torque Sensors Market Size (US$ Bn) and Y-o-Y Growth Forecast (%), By Shaft Style; 2019-2023
- 8.3.2. Global Torque Sensors Market Absolute $ Opportunity, By Shaft Style; 2024-2033
- 8.3.3. Shaft Style Segment Value Forecast, by Region
8.4. Flange Style
- 8.4.1. Global Torque Sensors Market Size (US$ Bn) and Y-o-Y Growth Forecast (%), By Flange Style; 2019-2023
- 8.4.2. Global Torque Sensors Market Absolute $ Opportunity, By Flange Style; 2024-2033
- 8.4.3. Flange Style Segment Value Forecast, by Region
8.5. Global Torque Sensors Market Attractiveness Analysis, By Mechanical Configuration
8.6. Global Torque Sensors Market Trends - By Mechanical Configuration

9. Global Torque Sensors Market Analysis and Forecast, by Application

9.1. Introduction
9.2. Global Torque Sensors Market Size and Forecast, By Application
- 9.2.1. Global Torque Sensors Market Share & BPS Analysis, By Application, 2024-2033
- 9.2.2. Global Torque Sensors Market Y-o-Y Growth Comparison, By Application, 2024-2033
9.3. Automotive & Transportation
- 9.3.1. Global Torque Sensors Market Size (US$ Bn) and Y-o-Y Growth Forecast (%), By Automotive & Transportation; 2019-2023
- 9.3.2. Global Torque Sensors Market Absolute $ Opportunity, By Automotive & Transportation; 2024-2033
- 9.3.3. Automotive & Transportation Segment Value Forecast, by Region
- 9.3.4. Global Torque Sensors Market Trends - By Automotive & Transportation Application Segment
9.4. Aerospace & Defense
- 9.4.1. Global Torque Sensors Market Size (US$ Bn) and Y-o-Y Growth Forecast (%), By Aerospace & Defense; 2019-2023
- 9.4.2. Global Torque Sensors Market Absolute $ Opportunity, By Aerospace & Defense; 2024-2033
- 9.4.3. Aerospace & Defense Segment Value Forecast, by Region
- 9.4.4. Global Torque Sensors Market Trends - By Automotive & Transportation Application Segment
9.5. Medical & Healthcare
- 9.5.1. Global Torque Sensors Market Size (US$ Bn) and Y-o-Y Growth Forecast (%), By Medical & Healthcare; 2019-2023
- 9.5.2. Global Torque Sensors Market Absolute $ Opportunity, By Medical & Healthcare; 2024-2033
- 9.5.3. Medical & Healthcare Segment Value Forecast, by Region
- 9.5.4. Global Torque Sensors Market Trends - By Medical & Healthcare Application Segment
9.6. Other (Oil & Gas)
- 9.6.1. Global Torque Sensors Market Size (US$ Bn) and Y-o-Y Growth Forecast (%), By Other; 2019-2023
- 9.6.2. Global Torque Sensors Market Absolute $ Opportunity, By Other; 2024-2033
- 9.6.3. Other Segment Value Forecast, by Region
- 9.6.4. Global Torque Sensors Market Trends - By Other Application Segment

10. Global Torque Sensors Market Analysis and Forecast, by Region

10.1. Introduction
10.2. Global Torque Sensors Market Size and Forecast, By Region
- 10.2.1. Global Torque Sensors Market Share & BPS Analysis By Application, 2024-2033
- 10.2.2. Global Torque Sensors Market Share, 2024
10.3. North America
- 10.3.1. North America Torque Sensors Market Size (US$ Bn) and Y-o-Y Growth Forecast (%), 2019-2023
- 10.3.2. North America Torque Sensors Market Absolute $ Opportunity, 2024-2033
- 10.3.3. North America Torque Sensors Market - Trends
- 10.3.4. North America Torque Sensors Market Size and Forecast, By Product
- 10.3.5. North America Torque Sensors Market Size and Forecast, By Mechanical Configuration
- 10.3.6. North America Torque Sensors Market Size and Forecast, By Application
- 10.3.7. North America Torque Sensors Market Opportunity, By Country
- 10.3.8. North America Torque Sensors Market Attractiveness Analysis, 2031
- 10.3.9. North America Torque Sensors Market - Impact Analysis of Drivers & Restraints
10.4. Latin America
- 10.4.1. Latin America Torque Sensors Market Size (US$ Bn) and Y-o-Y Growth Forecast (%), 2019-2023
- 10.4.2. Latin America Torque Sensors Market Absolute $ Opportunity, 2024-2033
- 10.4.3. Latin America Torque Sensors Market - Trends
- 10.4.4. Latin America Torque Sensors Market Size and Forecast By Product
- 10.4.5. Latin America Torque Sensors Market Size and Forecast By Mechanical Configuration
- 10.4.6. Latin America Torque Sensors Market Size and Forecast By Application
- 10.4.7. Latin America Torque Sensors Market Opportunity By Country
- 10.4.8. Latin America Torque Sensors Market Attractiveness Analysis, 2031
- 10.4.9. Latin America Torque Sensors Market - Impact Analysis of Drivers & Restraints
10.5. Europe
- 10.5.1. Europe Torque Sensors Market Size (US$ Bn) and Y-o-Y Growth Forecast (%), 2019-2023
- 10.5.2. Europe Torque Sensors Market Absolute $ Opportunity, 2024-2033
- 10.5.3. Europe Torque Sensors Market - Trends
- 10.5.4. Europe Torque Sensors Market Size and Forecast By Product
- 10.5.5. Europe Torque Sensors Market Size and Forecast By Mechanical Configuration
- 10.5.6. Europe Sensor Market Size and Forecast By Application
- 10.5.7. Europe Torque Sensors Market Opportunity By Country
- 10.5.8. Europe Torque Sensors Market Attractiveness Analysis, 2031
- 10.5.9. Europe Torque Sensors Market - Impact Analysis of Drivers & Restraints
10.6. APAC
- 10.6.1. APAC Torque Sensors Market Size (US$ Bn) and Y-o-Y Growth Forecast (%), 2019-2023
- 10.6.2. APAC Torque Sensors Market Absolute $ Opportunity, 2024-2033
- 10.6.3. APAC Torque Sensors Market - Trends
- 10.6.4. APAC Torque Sensors Market Size and Forecast By Product
- 10.6.5. APAC Torque Sensors Market Size and Forecast By Mechanical Configuration
- 10.6.6. APAC Sensor Market Size and Forecast By Application
- 10.6.7. APAC Torque Sensors Market Opportunity By Country
- 10.6.8. APAC Torque Sensors Market Attractiveness Analysis, 2031
- 10.6.9. Europe Torque Sensors Market - Impact Analysis of Drivers & Restraints
10.7. MEA
- 10.7.1. MEA Torque Sensors Market Size (US$ Bn) and Y-o-Y Growth Forecast (%), 2019-2023
- 10.7.2. MEA Torque Sensors Market Absolute $ Opportunity, 2024-2033
- 10.7.3. APAC Torque Sensors Market - Trends
- 10.7.4. APAC Torque Sensors Market Size and Forecast By Product
- 10.7.5. MEA Torque Sensors Market Size and Forecast By Mechanical Configuration
- 10.7.6. MEA Sensor Market Size and Forecast By Application
- 10.7.7. MEA Torque Sensors Market Opportunity By Country
- 10.7.8. MEA Torque Sensors Market Attractiveness Analysis, 2031
- 10.7.9. MEA Torque Sensors Market - Impact Analysis of Drivers & Restraints
10.8. Global Torque Sensorss Market Attractiveness, By Region

11. Competitive Landscape

11.1. Competitive Dashboard
- 11.1.1. By Regional Presence
- 11.1.2. By Product
- 11.1.3. By Application
11.2. Company Profile
- 11.2.1. ABB Ltd.
  - 11.2.1.1. Company Overview
  - 11.2.1.2. Revenue
  - 11.2.1.3. Product Offerings
  - 11.2.1.4. Strategy
  - 11.2.1.5. Key Developments
- 11.2.2. ATI Industrial Automation, Inc.
  - 11.2.2.1. Company Overview
  - 11.2.2.2. Revenue
  - 11.2.2.3. Product Offerings
  - 11.2.2.4. Strategy
  - 11.2.2.5. Key Developments
- 11.2.3. FUTEK Advanced Sensor Technology, Inc.
  - 11.2.3.1. Company Overview
  - 11.2.3.2. Revenue
  - 11.2.3.3. Product Offerings
  - 11.2.3.4. Strategy
  - 11.2.3.5. Key Developments
- 11.2.4. Interface Inc.
  - 11.2.4.1. Company Overview
  - 11.2.4.2. Revenue
  - 11.2.4.3. Product Offerings
  - 11.2.4.4. Strategy
  - 11.2.4.5. Key Developments
- 11.2.5. Honeywell International Inc.
  - 11.2.5.1. Company Overview
  - 11.2.5.2. Revenue
  - 11.2.5.3. Product Offerings
  - 11.2.5.4. Strategy
  - 11.2.5.5. Key Developments
- 11.2.6. Crane Electronics Ltd.
  - 11.2.6.1. Company Overview
  - 11.2.6.2. Revenue
  - 11.2.6.3. Product Offerings
  - 11.2.6.4. Strategy
  - 11.2.6.5. Key Developments
- 11.2.7. Kistler Holding AG
  - 11.2.7.1. Company Overview
  - 11.2.7.2. Revenue
  - 11.2.7.3. Product Offerings
  - 11.2.7.4. Strategy
  - 11.2.7.5. Key Developments
- 11.2.8. HBM GmBH
  - 11.2.8.1. Company Overview
  - 11.2.8.2. Revenue
  - 11.2.8.3. Product Offerings
  - 11.2.8.4. Strategy
  - 11.2.8.5. Key Developments
- 11.2.9. Sensor Technology Ltd.
  - 11.2.9.1. Company Overview
  - 11.2.9.2. Revenue
  - 11.2.9.3. Product Offerings
  - 11.2.9.4. Strategy
  - 11.2.9.5. Key Developments
- 11.2.10. Datum Electronics Limited
  - 11.2.10.1. Company Overview
  - 11.2.10.2. Revenue
  - 11.2.10.3. Product Offerings
  - 11.2.10.4. Strategy
  - 11.2.10.5. Key Developments