Torque Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Torque Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Report Format: PDF+Excel | Report ID: SR112023A2274
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Market Overview:

The global torque sensor market size reached US$ 7.43 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.66 Billion by 2027, exhibiting at a CAGR of 9.59% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

A torque sensor, also known as a torque cell, is a device that measures, records and regulates the torque of rotating systems via mechanical processes. It is utilized in rotors, engines, gearboxes, craft shifts, crankshafts, electric motors, and other rotating devices to ensure optimal performance of the entire system. Moreover, as it is compact in size, accurate, stable, robust, suitable for harsh environments, and resistant to high-temperature, the torque sensor finds extensive application in mining, agriculture, defense, and healthcare industries worldwide. At present, it is commonly available in static or dynamic forces and can measure turning forces in clockwise or anti-clockwise directions.

Torque Sensor Market Trends:

The increasing sales of hybrid and electric vehicles (EVs) on account of rapid urbanization and improving income levels of individuals represent one of the key factors positively influencing the use of torque sensors in the automotive industry. It can also be attributed to the inflating prices of petrol worldwide and a significant rise in the demand for fuel-efficient and high-performance automobiles. In addition, the rising environmental awareness among the masses and stringent regulations implemented by governments of numerous countries to minimize carbon emissions are contributing to the market growth. Moreover, torque sensors are employed in the aerospace industry to measure the load on the aircraft wheel and detect overload incidences. Apart from this, there is an increase in the adoption of these sensors in the field of medical prosthetics and artificial limbs for surgical procedures. This, in confluence with considerable growth in the healthcare industry, is offering a positive market outlook. Furthermore, the integration of wireless and digital features in torque sensors is anticipated to offer lucrative growth opportunities to industry players.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global torque sensor market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on type, technology and application.

Breakup by Type:

  • Rotary Torque Sensor
  • Reaction Torque Sensor
     

Breakup by Technology:

  • Surface Acoustic Wave (SAW)
  • Optical
  • Strain Gauge
  • Others
     

Breakup by Application:

  • Aerospace and Defense
  • Automotive
  • Testing and Measurement
  • Healthcare
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

The Asia Pacific holds the majority of the global torque sensor market share.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Applied Measurements Limited, Crane Electronics Ltd, Datum Electronics Ltd., FUTEK Advanced Sensor Technology, Inc., Hitachi, Ltd.,  Honeywell International Inc., Hottinger Brüel & Kjaer GmbH, Infineon Technologies AG, Kistler Group, Norbar Torque Tools Ltd., and PCB Piezotronics, Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Technology, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Applied Measurements Ltd.,  Crane Electronics Inc., Datum Electronics Ltd. (Indutrade AB), FUTEK Advanced Sensor Technology Inc.,  Hitachi Ltd., Honeywell International Inc., Hottinger Baldwin Messtechnik GmbH (Spectris Plc),  Infineon Technologies AG, Kistler Holding AG,  Norbar Torque Tools Ltd. (Snap-on Incorporated) and PCB Piezotronics Inc. (MTS Systems Corporation)
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Key Questions Answered in This Report:

  • How has the global torque sensor market performed so far and how will it perform in the coming years?
  • What are the key regional markets?
  • What has been the impact of COVID-19 on the global torque sensor industry?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the technology?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global torque sensor market and who are the key players?
  • What is the degree of competition in the industry?

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Torque Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
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