The global market for Torque Sensors is estimated at US$8.4 Billion in 2023 and is projected to reach US$12.2 Billion by 2030, growing at a CAGR of 5.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the torque sensors market is driven by several factors. The increasing adoption of advanced automation and robotics in manufacturing processes is a primary driver, as these systems rely heavily on precise torque measurement for efficient operation and quality control. The automotive industry's shift towards electric and hybrid vehicles has also boosted demand for torque sensors, as these vehicles require accurate torque monitoring for battery management, drivetrain optimization, and regenerative braking systems.
Additionally, the growing emphasis on energy efficiency and renewable energy sources has led to the deployment of torque sensors in wind turbines and other green technologies, where they help maximize performance and reliability. Technological advancements, such as the development of smart sensors with enhanced connectivity and data processing capabilities, have further fueled market expansion by enabling more sophisticated applications and improving ease of use. These factors collectively highlight the dynamic growth trajectory of the torque sensors market, reflecting its critical role in advancing industrial automation and sustainable technologies.
The growth in the torque sensors market is driven by several factors. The increasing adoption of advanced automation and robotics in manufacturing processes is a primary driver, as these systems rely heavily on precise torque measurement for efficient operation and quality control. The automotive industry's shift towards electric and hybrid vehicles has also boosted demand for torque sensors, as these vehicles require accurate torque monitoring for battery management, drivetrain optimization, and regenerative braking systems.
Additionally, the growing emphasis on energy efficiency and renewable energy sources has led to the deployment of torque sensors in wind turbines and other green technologies, where they help maximize performance and reliability. Technological advancements, such as the development of smart sensors with enhanced connectivity and data processing capabilities, have further fueled market expansion by enabling more sophisticated applications and improving ease of use. These factors collectively highlight the dynamic growth trajectory of the torque sensors market, reflecting its critical role in advancing industrial automation and sustainable technologies.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Rotary Torque Sensors segment, which is expected to reach US$7.5 Billion by 2030 with a CAGR of a 5.9%. The Reaction Torque Sensors segment is also set to grow at 5.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $2.6 Billion in 2023, and China, forecasted to grow at an impressive 7.6% CAGR to reach $1.9 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Torque Sensors Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Torque Sensors Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Torque Sensors Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as ABB Ltd., AIMCO, Applied Measurements Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 127 Featured):
- ABB Ltd.
- AIMCO
- Applied Measurements Ltd.
- ATI Industrial Automation, Inc.
- Burster GmbH & Co. KG
- Crane Electronics Ltd.
- Datum Electronics Limited
- FUTEK Advanced Sensor Technology, Inc.
- Honeywell International Inc.
- Hottinger Brüel & Kjaer GmbH
- Infineon Technologies AG
- Interface, Inc.
- Kistler Group
- Lorenz Messtechnik GmbH
- MagCanica, Inc.
- MinebeaMitsumi Inc.
- Mountz, Inc.
- Norbar Torque Tools Limited
- PCB Piezotronics, Inc.
- S. Himmelstein and Company
- SCAIME SAS
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISFRANCEGERMANYITALYUNITED KINGDOMSPAINRUSSIAREST OF EUROPESOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
ASIA-PACIFIC
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned
- ABB Ltd.
- AIMCO
- Applied Measurements Ltd.
- ATI Industrial Automation, Inc.
- Burster GmbH & Co. KG
- Crane Electronics Ltd.
- Datum Electronics Limited
- FUTEK Advanced Sensor Technology, Inc.
- Honeywell International Inc.
- Hottinger Brüel & Kjaer GmbH
- Infineon Technologies AG
- Interface, Inc.
- Kistler Group
- Lorenz Messtechnik GmbH
- MagCanica, Inc.
- MinebeaMitsumi Inc.
- Mountz, Inc.
- Norbar Torque Tools Limited
- PCB Piezotronics, Inc.
- S. Himmelstein and Company
- SCAIME SAS
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 606 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 8.4 Billion |
| Forecasted Market Value ( USD | $ 12.2 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 21 |
