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Report
Torque Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-05-29 I 143 Pages I IMARC Group
Market Overview:
The global torque sensor market size reached US$ 8.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.7 Billion by 2028, exhibiting a growth rate (CAGR) of 9.2% during 2023-2028.
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 at the global, regional and country level from 2023-2028. 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 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), and PCB Piezotronics Inc. (MTS Systems Corporation).
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?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Torque Sensor Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Rotary Torque Sensor
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Reaction Torque Sensor
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Technology
7.1 Surface Acoustic Wave (SAW)
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Optical
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Strain Gauge
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Application
8.1 Aerospace and Defense
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Automotive
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Testing and Measurement
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Healthcare
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Indicators
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Applied Measurements Ltd.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.2 Crane Electronics Inc.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Datum Electronics Limited (Indutrade AB)
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.4 FUTEK Advanced Sensor Technology Inc.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 Hitachi Ltd.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 Honeywell International Inc.
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Hottinger Baldwin Messtechnik GmbH (Spectris Plc)
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 Infineon Technologies AG
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9 Kistler Holding AG
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 Norbar Torque Tools Limited (Snap-on Incorporated)
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.11 PCB Piezotronics Inc. (MTS Systems Corporation)
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
Figure 1: Global: Torque Sensor Market: Major Drivers and Challenges
Figure 2: Global: Torque Sensor Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Torque Sensor Market: Breakup by Type (in %), 2022
Figure 4: Global: Torque Sensor Market: Breakup by Technology (in %), 2022
Figure 5: Global: Torque Sensor Market: Breakup by Application (in %), 2022
Figure 6: Global: Torque Sensor Market: Breakup by Region (in %), 2022
Figure 7: Global: Torque Sensor Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 8: Global: Torque Sensor (Rotary Torque Sensor) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Torque Sensor (Rotary Torque Sensor) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Torque Sensor (Reaction Torque Sensor) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Torque Sensor (Reaction Torque Sensor) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Torque Sensor (Surface Acoustic Wave) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Torque Sensor (Surface Acoustic Wave) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Torque Sensor (Optical) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Torque Sensor (Optical) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Torque Sensor (Strain Gauge) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Torque Sensor (Strain Gauge) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Torque Sensor (Others) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Torque Sensor (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Torque Sensor (Aerospace and Defense) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Torque Sensor (Aerospace and Defense) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Torque Sensor (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Torque Sensor (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Torque Sensor (Testing and Measurement) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Torque Sensor (Testing and Measurement) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Torque Sensor (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Torque Sensor (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Torque Sensor (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Torque Sensor (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: North America: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: North America: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: United States: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: United States: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Canada: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Canada: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Asia Pacific: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Asia Pacific: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: China: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: China: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Japan: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Japan: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: India: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: India: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: South Korea: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: South Korea: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Australia: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Australia: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Indonesia: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Indonesia: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Others: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Others: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Europe: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Europe: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Germany: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Germany: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: France: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: France: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: United Kingdom: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: United Kingdom: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Italy: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Italy: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Spain: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Spain: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Russia: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Russia: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Others: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Others: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Latin America: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Latin America: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Brazil: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Brazil: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Mexico: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Mexico: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Others: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Others: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Middle East and Africa: Torque Sensor Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Middle East and Africa: Torque Sensor Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 78: Global: Torque Sensor Industry: SWOT Analysis
Figure 79: Global: Torque Sensor Industry: Value Chain Analysis
Figure 80: Global: Torque Sensor Industry: Porter's Five Forces Analysis
Table 1: Global: Torque Sensor Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Torque Sensor Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: Global: Torque Sensor Market Forecast: Breakup by Technology (in Million US$), 2023-2028
Table 4: Global: Torque Sensor Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Global: Torque Sensor Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Torque Sensor Market: Competitive Structure
Table 7: Global: Torque Sensor Market: Key Players
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