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Torque Sensors - Global Market Trajectory & Analytics

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    Report

  • 475 Pages
  • October 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 2769223

Global Torque Sensors Market to Reach $14.9 Billion by 2027

Amid the COVID-19 crisis, the global market for Torque Sensors estimated at US$9.9 Billion in the year 2020, is projected to reach a revised size of US$14.9 Billion by 2027, growing at a CAGR of 6.1% over the period 2020-2027. Rotary, one of the segments analyzed in the report, is projected to record 6.5% CAGR and reach US$8.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Static/reaction segment is readjusted to a revised 5.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $3 Billion, While China is Forecast to Grow at 8.9% CAGR

The Torque Sensors market in the U.S. is estimated at US$3 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$2.3 Billion by the year 2027 trailing a CAGR of 8.9% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 5.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.

Select Competitors (Total 77 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 Baldwin Messtechnik GmbH
  • Infineon Technologies AG - Interface, Inc.
  • Kistler Group
  • Lorenz Messtechnik GmbH
  • MagCanica, Inc.
  • Mountz, Inc.
  • Norbar Torque Tools Limited
  • PCB Piezotronics, Inc.
  • S. Himmelstein and Company
  • SCAIME SAS
  • Sensor Technology Limited
  • SENSY S.A.
  • TE Connectivity Ltd.
  • Teledyne Instruments

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to a digital archives and Research Platform
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Torque Sensors

What is the estimated value of the Global Market for Torque Sensors?

The Global Market for Torque Sensors was estimated to be valued at $9.9 Billion in 2020.

What is the growth rate of the Global Market for Torque Sensors?

The growth rate of the Global Market for Torque Sensors is 6.0%, with an estimated value of $14.9 Billion by 2027.

What is the forecasted size of the Global Market for Torque Sensors?

The Global Market for Torque Sensors is estimated to be worth $14.9 Billion by 2027.

Who are the key companies in the Global Market for Torque Sensors?

Key companies in the Global Market for Torque Sensors include 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. and Hottinger Baldwin Messtechnik GmbH.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Torque: A Conceptual Overview
  • A Prelude to Torque Sensors
  • Classification of Torque Sensors Based on Mechanism Type
  • Classification of Toque Sensors by Technology Type
  • Torque Measurement in Real World Situations: How Difficult is the Task?
  • Torque Sensors: Current Market Scenario and Outlook
  • While Developed Regions Remain Major Revenue Contributors, Developing Regions Emerge as Hot Spots for Future Growth
  • World Torque Sensors Market by Region (2019 & 2025): Percentage Breakdown of Revenues for Developed and Developing Regions
  • Global Torque Sensors Market - Major Regions/Countries Ranked by Value CAGR for 2018-2025: China, Asia-Pacific, Latin America, Rest of World, Canada, USA, Europe, and Japan
  • Stable Economic Scenario to Positively Influence Torque Sensors Market
  • Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2018 through 2021
  • Sensors Industry: A Complementary Review
  • World Market for Sensors (2020): Percentage Breakdown of Revenues by Sensor Type
  • World Sensors Market by End-Use Application (2020): Percentage Breakdown of Dollar Sales for Aerospace & Defense, Automobile Application, Building & Construction Industry, Consumer and Household Appliance, Machine Tools and General Machinery, Process & Manufacturing Industry, and Others
  • Market Structure
  • Continuous Improvements to Benefit Sensor Technology
  • Industry Consolidation: A Perennial Trend
  • Competitive Landscape
  • Leading Players in the Torque Sensors Market
  • Vendors Leverage Rental Service as New Revenue Vertical
  • Recent Market Activity
  • Torque Sensors - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Torque Sensors Witnessing Robust Demand in Diverse End-Use Sectors
  • Automotive Sector: Major Consumer of Torque Sensors
  • Torque Sensors Play Vital Role in Automotive Power Steering
  • Need to Cut Down On-Road Fatalities Stimulate Demand for EPS with Torque Sensors
  • Torque Sensors Assist in Lowering Engine Friction
  • Significance of Torque Sensors in Electric Cars
  • Autonomous Vehicles: Emerging Automotive Application
  • F1 Teams Use Torque Sensors for Improving Safety at Pit Stops
  • Torque Sensors for Electric Bikes
  • An Overview of Automotive Sensors Market
  • World Automotive Sensor Market (2019): Percentage Breakdown of Value Sales by Application Type
  • Upward Trajectory in Automobiles Production Spurs Market Demand
  • Global Passenger Cars Production (In Million Units) by Geographic Region/Country for the Years 2017, 2019, 2022
  • Sustained Opportunities in Industrial Sector
  • Torque Sensors Come to the Fore to Improve Industrial Robotic Technologies
  • Force Sensing in Industrial Robotics
  • Force-Torque Sensors Find Usage in Collaborative Robots
  • Torque Sensors for Robot Accessories
  • World Industrial Robots Shipments (in Thousands) for the Years 2018 through 2024
  • World Industrial Robotics Market Revenues (in %) by End-Use Sector for the Year 2019
  • Superior Capabilities in Dynamometer Applications
  • Established Use in Machinery Demonstrations and Material Testing & Processing Systems
  • Torque Sensor in Chemical Mixing Applications
  • Rising Demand in Aerospace & Defense Applications
  • Global Commercial Aircraft Fleet Size (in Units) by Geographic Region for the Years 2018 & 2038
  • Global Commercial Aircraft Fleet Size (in Units) by Aircraft Type for the Years 2018 and 2038
  • Using Torque Sensors for UAVs
  • Global UAV Production (in US$ Billion) by Application for Years 2018 & 2028
  • Global Military UAV Production in Units by Country/Region: 2018
  • Other Noteworthy End-Use Industries
  • Healthcare Industry
  • Oil & Gas
  • Marine
  • Lenience towards Condition-based Maintenance (CBM) Drives Growth in Torque Sensors Market
  • Persistent Need for Accurate Torque Measurement in Rotating Machinery Widens Business Prospects
  • Tidal Turbines: Industrial Torque Sensors to Optimize Performance
  • Increasing Demand for Turbomachines Encourages Further Adoption of Torque Sensors
  • Torque Sensing Entails High Relevance in Hydraulics Systems
  • Acoustic Wave Sensors Market to Grow at Exponential Pace
  • Technology Innovations & Advancements Help Sustain Momentum in Torque Sensors Market
  • New Range of Wireless Torque Sensors Seek to Expand Addressable Market
  • Efforts on Developing Integrated Diagnostics in Torque Module
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Torque Sensors by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 2: World Historic Review for Torque Sensors by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 3: World 15-Year Perspective for Torque Sensors by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2012, 2021 & 2027
  • Table 4: World Recent Past, Current & Future Analysis for Rotary by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 5: World Historic Review for Rotary by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 6: World 15-Year Perspective for Rotary by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 7: World Recent Past, Current & Future Analysis for Static/Reaction by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 8: World Historic Review for Static/Reaction by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 9: World 15-Year Perspective for Static/Reaction by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 10: World Recent Past, Current & Future Analysis for Strain Gauge by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 11: World Historic Review for Strain Gauge by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 12: World 15-Year Perspective for Strain Gauge by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 13: World Recent Past, Current & Future Analysis for Optical by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 14: World Historic Review for Optical by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 15: World 15-Year Perspective for Optical by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 16: World Recent Past, Current & Future Analysis for SAW by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 17: World Historic Review for SAW by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 18: World 15-Year Perspective for SAW by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 19: World Recent Past, Current & Future Analysis for Magneto Elastic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 20: World Historic Review for Magneto Elastic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 21: World 15-Year Perspective for Magneto Elastic by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 22: World Recent Past, Current & Future Analysis for Automotive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 23: World Historic Review for Automotive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 24: World 15-Year Perspective for Automotive by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 25: World Recent Past, Current & Future Analysis for Aerospace & Defense by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 26: World Historic Review for Aerospace & Defense by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 27: World 15-Year Perspective for Aerospace & Defense by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 28: World Recent Past, Current & Future Analysis for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 29: World Historic Review for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 30: World 15-Year Perspective for Industrial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 31: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 32: World Historic Review for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 33: World 15-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
  • Torque Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Sensors Market Overview
  • Torque Sensors Market Scenario
  • Robust Opportunities in Automotive Sector
CANADA
  • Automotive Sector: A Major Market of Torque Sensors
  • Canadian ESC Regulations to Drive Growth in Demand for Associated Sensors
JAPAN
  • Torque Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Sensor Production over the Years in Japan
CHINA
  • Torque Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • China: A Market Laden with Opportunities
  • Established Use Case Across Diverse Verticals Sustains Market Momentum
  • Robust Demand in the Automotive Sector Augurs Well
EUROPE
  • Torque Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • European Sensors Market - A Brief Review
  • Automotive Sensors in Europe
FRANCE
  • Torque Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Torque Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
  • Automotive Market Overview
ITALY
UNITED KINGDOM
  • Torque Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Torque Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Sensors Market: A Brief Overview
  • Huge Automotive Manufacturing Activity Makes Asia-Pacific (incl. China and Japan) a Lucrative Market for Sensors
AUSTRALIA
  • Torque Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Torque Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Increased Automotive Production Drives Demand for Automotive Sensor
  • Government Initiatives Give a Boost to Automotive Sensors
  • Indian Automotive Sensors Market Attracting Foreign Players
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Torque Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINA
BRAZIL
  • Brazilian Markets Revives After Slowdown
MEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Torque Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Torque Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 77

Companies Mentioned

A selection of companies mentioned in this report includes:

  • 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 Baldwin Messtechnik GmbH
  • Infineon Technologies AG
  • Interface, Inc.
  • Kistler Group
  • Lorenz Messtechnik GmbH
  • MagCanica, Inc.
  • Mountz, Inc.
  • Norbar Torque Tools Limited
  • PCB Piezotronics, Inc.
  • S. Himmelstein and Company
  • SCAIME SAS
  • Sensor Technology Limited
  • SENSY S.A.
  • TE Connectivity Ltd.
  • Teledyne Instruments