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Asia Pacific Torque Sensor Market Size, Share & Trends Analysis Report By Type, By Application, By Technology (Strain Gauge, Magnetoelastic, Surface Acoustic Wave, and Others), By Country and Growth Forecast, 2024 - 2031

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    Report

  • 139 Pages
  • April 2024
  • Region: Asia Pacific
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5017753
The Asia Pacific Torque Sensor Market would witness market growth of 7.8% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 4,609.4 thousand units, showcasing a growth of 18.4% (2020-2023).

Torque sensors play a crucial role in automotive applications, contributing to vehicle performance, safety, and efficiency. One key area where torque sensors are extensively used is in the automotive powertrain system. In modern vehicles, torque sensors are integrated into components like the engine, transmission, and drivetrain to monitor and control torque levels. Thus, the automotive industry in China consumed 704.47 thousand units of these sensors in 2023.



The China market dominated the Asia Pacific Torque Sensor Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,818.3 million by 2031. The Japan market is registering a CAGR of 7.1% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 8.5% during (2024 - 2031).

A significant trend is the integration of wireless connectivity and IoT capabilities into torque sensing solutions. Wireless sensors enable remote monitoring, data logging, and real-time analytics, empowering users to access torque data from anywhere and optimize performance proactively. Furthermore, IoT-enabled sensors facilitate predictive maintenance, anomaly detection, and condition monitoring, thereby enhancing equipment reliability and uptime.

With wireless connectivity, sensor data can be processed and analyzed in real time, enabling proactive optimization of equipment performance and operational efficiency. Real-time analytics capabilities allow users to gain actionable insights into torque behavior, detect potential issues or deviations from expected norms, and take corrective actions promptly. By leveraging real-time torque data, users can optimize equipment settings, adjust operational parameters, and prevent costly downtime or failures, maximizing uptime and productivity.

India’s indigenous defense manufacturing sector is expanding rapidly, with a focus on developing advanced aircraft, missiles, and other defense systems. These sensors are essential in manufacturing, ensuring precision and reliability in assembling critical aerospace and defense equipment. For instance, these sensors assemble aircraft engines, rotor systems for helicopters, and missile guidance systems. As per the data from Invest India, the Ministry of Defense has set a target of achieving a turnover of $26 Bn in aerospace and defense Manufacturing by 2025, which includes $5 Bn exports. In addition, the rising automotive sector in China has expanded the use and demand for these sensors across various applications, from manufacturing and assembly to vehicle propulsion systems and advanced driver assistance technologies. As per the data from the Ministry of Industry and Information Technology, vehicle sales in 2021 were over 26 million in China. Among these, passenger vehicles accounted for 21.48 million, reflecting a 7.1% growth compared to the previous year. Therefore, with the rising automotive and defense sectors in Asia Pacific will propel the demand for these sensors in the region.

Based on Type, the market is segmented into Rotary Torque Sensors, and Reaction Torque Sensors. Based on Application, the market is segmented into Automotive, Aerospace & Defense, Test & Measurement, Industrial, and Others. Based on Technology, the market is segmented into Strain Gauge, Magnetoelastic, Surface Acoustic Wave, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Taiwan, Malaysia, and Rest of Asia Pacific.

List of Key Companies Profiled

  • Honeywell International, Inc.
  • ABB Ltd.
  • Amphenol Corporation (PCB Piezotronics, Inc.)
  • Sensor Technology Ltd.
  • FUTEK Advanced Sensor Technology, Inc.
  • TE Connectivity Ltd.
  • ATI Industrial Automation, Inc. (Novanta, Inc.)
  • Spectris PLC (HBM)
  • Interface, Inc.
  • Datum Electronics Ltd. (Indutrade AB)

Market Report Segmentation

By Type (Volume, Thousand Units, USD Billion, 2020-31)
  • Rotary Torque Sensors
  • Reaction Torque Sensors
By Application (Volume, Thousand Units, USD Billion, 2020-31)
  • Automotive
  • Aerospace & Defense
  • Test & Measurement
  • Industrial
  • Others
By Technology (Volume, Thousand Units, USD Billion, 2020-31)
  • Strain Gauge
  • Magnetoelastic
  • Surface Acoustic Wave
  • Others
By Country (Volume, Thousand Units, USD Billion, 2020-31)
  • China
  • Japan
  • India
  • South Korea
  • Taiwan
  • Malaysia
  • Rest of Asia Pacific

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Torque Sensor Market, by Type
1.4.2 Asia Pacific Torque Sensor Market, by Application
1.4.3 Asia Pacific Torque Sensor Market, by Technology
1.4.4 Asia Pacific Torque Sensor Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Opportunities
3.2.3 Market Restraints
3.2.4 Market Challenges
3.3 Porter Five Forces Analysis
Chapter 4. Asia Pacific Torque Sensor Market by Type
4.1 Asia Pacific Rotary Torque Sensors Market by Country
4.2 Asia Pacific Reaction Torque Sensors Market by Country
Chapter 5. Asia Pacific Torque Sensor Market by Application
5.1 Asia Pacific Automotive Market by Country
5.2 Asia Pacific Aerospace & Defense Market by Country
5.3 Asia Pacific Test & Measurement Market by Country
5.4 Asia Pacific Industrial Market by Country
5.5 Asia Pacific Others Market by Country
Chapter 6. Asia Pacific Torque Sensor Market by Technology
6.1 Asia Pacific Strain Gauge Market by Country
6.2 Asia Pacific Magnetoelastic Market by Country
6.3 Asia Pacific Surface Acoustic Wave Market by Country
6.4 Asia Pacific Others Market by Country
Chapter 7. Asia Pacific Torque Sensor Market by Country
7.1 China Torque Sensor Market
7.1.1 China Torque Sensor Market by Type
7.1.2 China Torque Sensor Market by Application
7.1.3 China Torque Sensor Market by Technology
7.2 Japan Torque Sensor Market
7.2.1 Japan Torque Sensor Market by Type
7.2.2 Japan Torque Sensor Market by Application
7.2.3 Japan Torque Sensor Market by Technology
7.3 India Torque Sensor Market
7.3.1 India Torque Sensor Market by Type
7.3.2 India Torque Sensor Market by Application
7.3.3 India Torque Sensor Market by Technology
7.4 South Korea Torque Sensor Market
7.4.1 South Korea Torque Sensor Market by Type
7.4.2 South Korea Torque Sensor Market by Application
7.4.3 South Korea Torque Sensor Market by Technology
7.5 Taiwan Torque Sensor Market
7.5.1 Taiwan Torque Sensor Market by Type
7.5.2 Taiwan Torque Sensor Market by Application
7.5.3 Taiwan Torque Sensor Market by Technology
7.6 Malaysia Torque Sensor Market
7.6.1 Malaysia Torque Sensor Market by Type
7.6.2 Malaysia Torque Sensor Market by Application
7.6.3 Malaysia Torque Sensor Market by Technology
7.7 Rest of Asia Pacific Torque Sensor Market
7.7.1 Rest of Asia Pacific Torque Sensor Market by Type
7.7.2 Rest of Asia Pacific Torque Sensor Market by Application
7.7.3 Rest of Asia Pacific Torque Sensor Market by Technology
Chapter 8. Company Profiles
8.1 Datum Electronics Ltd. (Indutrade AB)
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.2 Honeywell International, Inc.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 SWOT Analysis
8.3 ABB Ltd.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 SWOT Analysis
8.4 Amphenol Corporation (PCB Piezotronics, Inc.)
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expenses
8.4.5 SWOT Analysis
8.5 Sensor Technology Ltd.
8.5.1 Company Overview
8.6 FUTEK Advanced Sensor Technology, Inc.
8.6.1 Company Overview
8.7 TE Connectivity Ltd.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expense
8.7.5 SWOT Analysis
8.8 ATI Industrial Automation, Inc. (Novanta, Inc.)
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expenses
8.9 Interface, Inc.
8.9.1 Company Overview
8.10. Spectris PLC (HBM)
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis

Companies Mentioned

  • Honeywell International, Inc.
  • ABB Ltd.
  • Amphenol Corporation (PCB Piezotronics, Inc.)
  • Sensor Technology Ltd.
  • FUTEK Advanced Sensor Technology, Inc.
  • TE Connectivity Ltd.
  • ATI Industrial Automation, Inc. (Novanta, Inc.)
  • Spectris PLC (HBM)
  • Interface, Inc.
  • Datum Electronics Ltd. (Indutrade AB)

Methodology

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