+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

Torque Sensor Market by Type (Rotary Torque Sensors and Reaction Torque Sensors), Application (Test & Measurement, Automotive, Industrial, Aerospace & Defense, and Others), Technology, and Geography - Global Forecast to 2024

  • ID: 4700918
  • Report
  • Region: Global
  • 109 Pages
  • Markets and Markets
1 of 4
The Torque Sensor Market is Expected to Grow at a CAGR of 7.9%, to Reach USD 14.8 Billion by 2024 from USD 9.4 Billion in 2018

FEATURED COMPANIES

  • ABB
  • Crane Electronics
  • Honeywell International
  • Kistler Holding
  • Norbar Torque Tools
  • Sensor Technology
  • MORE

Torque sensor market to grow at CAGR of 7.9% from 2018 to 2024

The torque sensor market is expected to grow at a CAGR of 7.9%, to reach USD 14.8 billion by 2024 from USD 9.4 billion in 2018. The growth of this market can largely be attributed to factors such as increasing demand for advanced high-performance vehicles, growing importance of torque measurement, and rising demand for torque sensors for electric power steering (EPS) systems. 

However, the low reliability of available torque sensors in high-end applications is expected to restrict the growth of the said market to a certain extent.

Rotary torque sensors to register highest growth in torque sensor market during forecast period

The market for rotary torque sensors is expected to grow at the highest CAGR during the forecast period. Measuring and monitoring torque are the crucial parameters in most of all rotating parts, equipment, and machines to attain high-quality and optimum performance. These factors are expected to boost the adoption of rotary torque sensors in the automotive and industrial applications.

Automotive to hold largest share to torque sensor market during forecast period

Torque sensors find application in real-time torque measurement, engine performance measurement, engine improvement, transmission, chassis performance, and driveline of an automobile. Additionally, the high-performance commercial vehicles also require torque sensors for engine calibrations, safety, and transmission.

Recently, the top Formula 1 teams have started using magnetoelastic torque sensors in racing applications. Therefore, the increase in demand for precise and accurate torque measurement in automotive applications is expected to drive the torque sensor market in the coming years.

APAC to register highest growth in torque sensor market during forecast period

APAC is an economically growing region owing to the presence of technologically strong countries such as China and Japan. The continuous rise in light vehicle manufacturing in APAC is a major contributor to the growth of the market in this region. A few of the world’s largest consumer electronics companies have their manufacturing sites in China, Japan, and Taiwan.

Moreover, China, India, etc., rapidly growing economies, are home to a large number of process industries. These factors are projected to fuel the growth of the torque sensor market in APAC in the coming years.

Breakdown of primary participants’ profile:

  • By Company Type: Tier 1 = 20%, Tier 2 = 55%, and Tier 3 = 25%
  • By Designation: C-Level Executives = 45%, Directors = 30%, and Others = 25%
  • By Region: North America = 45%, Europe = 30%, APAC = 20%, and RoW = 5%

Key players in the torque sensor market include ABB (Switzerland), Crane electronics (UK), FUTEK Advanced Sensor Technology (US), Applied Measurements (UK), Honeywell International (US), Kistler Holding (Switzerland), Sensor Technology (UK), Hottinger Baldwin Messtechnik (Germany), Norbar Torque Tools (UK), and Infineon Technologies (Germany). The study includes in-depth competitive analysis of these key players in the torque sensor market, with their company profiles, recent developments, and key market strategies.

Research Coverage:

This study involves the torque sensor market size estimation as well as the growth potential of this market, across different segments, such as type, technology, application, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key growth strategies.

Key Benefits of Buying the Report:

The report would assist the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall torque sensor market and the subsegments. It would help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.

The report would also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

Note: Product cover images may vary from those shown
2 of 4

FEATURED COMPANIES

  • ABB
  • Crane Electronics
  • Honeywell International
  • Kistler Holding
  • Norbar Torque Tools
  • Sensor Technology
  • MORE

1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.3.1 Years Considered
1.4 Currency
1.5 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insight
4.1 Attractive Opportunities for Torque Sensor Market Growth
4.2 Torque Sensor Market By Technology
4.3 Torque Sensor Market in APAC
4.4 Torque Sensor Market, By Geography
4.5 Torque Sensor Market By Application

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Advanced High-Performance Vehicles
5.2.1.2 Growing Importance of Torque Measurement
5.2.1.3 Rising Demand for Torque Sensors for Electric Power Steering (EPS) Systems
5.2.2 Restraints
5.2.2.1 Low Reliability of Available Torque Sensors in High-End Applications
5.2.3 Opportunities
5.2.3.1 Evolution of New Torque Measurement Technologies
5.2.3.2 Increase in Use of Torque Sensors in Robotics
5.2.4 Challenges
5.2.4.1 Diversity of Applications of Torque Sensors
5.3 Torque Sensors: Value Chain Analysis

6 Torque Sensor Market, By Type
6.1 Introduction
6.2 Rotary Torque Sensors
6.2.1 Contact-Based Sensing
6.2.1.1 Industrial Application Driving the Contact Based Sensing Rotary Torque Sensors
6.2.2 Noncontact-Based Sensing
6.2.2.1 Increasing Adoption of Noncontact-Based Sensing Rotary Torque Sensor in Automotive Application Driving the Market
6.3 Reaction Torque Sensors
6.3.1 Automotive Application Expected to Be the Major Application of Reaction Torque Sensor

7 Torque Sensor Market, By Technology
7.1 Introduction
7.2 Surface Acoustic Wave
7.2.1 Benefits Such as High Stability, High Sensitivity Driving the Adoption of Surface Acoustic Wave Technology in Torque Sensing Process
7.3 Magnetoelastic
7.3.1 Automotive is Major Application Area for Magnetoelastic Technology
7.4 Optical
7.4.1 Optical Technology Expected to Be the Fastest Growing Technology in Torque Sensor Market
7.5 Strain Gauge
7.5.1 High Precision Measurement Tasks Increase the Demand of Starin Gauge Technology in Torque Sensors

8 Torque Sensor Market, By Application
8.1 Introduction
8.2 Automotive
8.2.1 Electric Power System Boosting the Growth of Torque Sensor Market for Automotive Application
8.3 Test & Measurement
8.3.1 Product Testing Application is Expected to Drive the Torque Sensor Market in Test & Measurement Application
8.4 Industrial
8.4.1 Quality Control Specifications Play A Vital Role in the Growth of Torque Sensor Market in Industrial Application
8.5 Aerospace & Defense
8.5.1 Increasing Adoption of Torque Sensor for Monitoring and Measuring Aircraft Operations is Expected to Drive the Torque Sensor Market for Aerospace & Defesne Application
8.6 Others
8.6.1 Medical and Agriculture are Other Major Application Driving Torque Sensor Market

9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 Demand for Low Cost Sensor Boosts the Growth of Torque Sensor Market in the US
9.2.2 Canada
9.2.2.1 Industrial and Automotive Application Driving the Torque Sensor Market in Canada
9.3 Europe
9.3.1 Germany
9.3.1.1 Germany is Expected to Hold the Largest Share of Torque Sensor Market in Europe
9.3.2 UK
9.3.2.1 Automotive Industry Driving the Torque Sensor Market in the Country
9.3.3 France
9.3.3.1 Increase in Adoption of Torque Sensor In-Drive Assistance System Boost the Demand for Torque Sensor Market in France
9.3.4 Spain
9.3.4.1 Torque Sensor Market in Spain is Expected to Grow at A Slower Pace as Compared to Other European Countries
9.3.5 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.1.1 China is Expected to Hold the Largest Share of Torque Sensor Market in APAC
9.4.2 Japan
9.4.2.1 Initiatives Taken By Government to Increase the Use of Intelligent Machines are Driving the Torque Sensor Market in the Country
9.4.3 South Korea
9.4.3.1 The Torque Sensor Market in South Korea is Dominated By Automotive and Industrial Application
9.4.4 Rest of APAC
9.5 Rest of the World
9.5.1 South America
9.5.1.1 South America is Expected to Hold Larger Share of Torque Sensor Market in RoW
9.5.2 Middle East and Africa
9.5.2.1 Presence of Prominent Industries in Middle East and Africa is Expected to Drive Torque Sensor Market in RoW

10 Competitive Landscape
10.1 Introduction
10.2 Ranking Analysis of Players in Torque Sensor Market
10.3 Competitive Situations and Trends
10.3.1 Product Launches
10.3.2 Mergers and Acquisitions
10.3.3 Expansions

11 Company Profile
11.1 Introduction
11.2 Key Players
11.2.1 ABB
11.2.2 Crane Electronics
11.2.3 Futek Advanced Sensor Technology
11.2.4 HBM
11.2.5 Applied Measurements
11.2.6 Honeywell International
11.2.7 Kistler Holding
11.2.8 Sensor Technology
11.2.9 Norbar Torque Tools
11.2.10 Infineon Technologies
11.3 Other Important Players
11.3.1 Teledyne Technologies
11.3.2 Datum Electronics
11.3.3 Magcanica
11.3.4 Interface
11.3.5 Aimco
11.3.6 TE Connectivity
11.3.7 Mountz
11.3.8 PCB Piezotronics
11.3.9 S.Himmelstein and Company
11.3.10 Transense Technologies

12 Appendix
12.1 Insights of Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store: Subscription Portal
12.4 Available Customizations
12.5 Related Reports
12.6 Author Details

List of Tables (59 Tables)

Table 1 Torque Sensor Market, By Type, 2015–2024 (USD Million)
Table 2 Market for Rotory Torque Sensor, By Sensing Process, 2015–2024 (USD Million)
Table 3 Market for Rotary Torque Sensors, By Application, 2015–2024 (USD Million)
Table 4 Market for Reaction Torque Sensors, By Application, 2015–2024 (USD Million)
Table 5 Torque Sensor Market, By Technology, 2015–2024 (USD Million)
Table 6 Torque Sensor Market for Saw, By Application, 2015–2024 (USD Million)
Table 7 Torque Sensor Market for Magnetoelastic, By Application, 2015–2024 (USD Million)
Table 8 Torque Sensor Market for Optical, By Application, 2015–2024 (USD Million)
Table 9 Torque Sensor Market for Strain Gauge, By Application, 2015–2024 (USD Million)
Table 10 Torque Sensor Market, By Application, 2015–2024 (USD Million)
Table 11 Torque Sensor Market for Automotive, By Technology, 2015–2024 (USD Million)
Table 12 Torque Sensor Market for Automotive, By Region, 2015–2024 (USD Million)
Table 13 Torque Sensor Market for Automotive, By Type, 2015–2024 (USD Million)
Table 14 Torque Sensor Market for Test and Measurement, By Technology, 2015–2024 (USD Million)
Table 15 Torque Sensor Market for Test and Measurement, By Region, 2015–2024 (USD Million)
Table 16 Torque Sensor Market for Test and Measurement, By Application Type, 2015–2024 (USD Million)
Table 17 Torque Sensor Market for Test and Measurement, By Type, 2015–2024 (USD Million)
Table 18 Torque Sensor Market for Industrial, By Technology, 2015–2024 (USD Million)
Table 19 Torque Sensor Market for Industrial, By Region, 2015–2024 (USD Million)
Table 20 Torque Sensor Market for Industrial, By Type, 2015–2024 (USD Million)
Table 21 Torque Sensor Market for Industrial, By Application Type, 2015–2024 (USD Million)
Table 22 Torque Sensor Market for Aerospace and Defense, By Technology, 2015–2024 (USD Million)
Table 23 Torque Sensor Market for Aerospace and Defense, By Region, 2015–2024 (USD Million)
Table 24 Torque Sensor Market for Aerospace and Defense, By Type, 2015–2024 (USD Million)
Table 25 Torque Sensor Market for Others, By Technology, 2015–2024 (USD Million)
Table 26 Torque Sensor Market for Others, By Region, 2015–2024 (USD Million)
Table 27 Torque Sensor Market for Others, By Type, 2015–2024 (USD Million)
Table 28 Torque Sensor Market, By Region, 2015–2024 (USD Million)
Table 29 Torque Sensor Market in North America, By Country, 2015–2024 (USD Million)
Table 30 Torque Sensor Market in North America, By Application, 2015–2024 (USD Million)
Table 31 Torque Sensor Market in North America for Automotive, By Technology, 2015–2024 (USD Million)
Table 32 Torque Sensor Market in North America for Industrial, By Technology, 2015–2024 (USD Million)
Table 33 Torque Sensor Market in North America for Test and Measurement, By Technology, 2015–2024 (USD Million)
Table 34 Torque Sensor Market in North America for Aerospace and Defense By Technology, 2015–2024 (USD Million)
Table 35 Torque Sensor Market in North America for Others, By Technology, 2015–2024 (USD Million)
Table 36 Torque Sensor Market in Europe, By Country, 2015–2024 (USD Million)
Table 37 Torque Sensor Market in Europe, By Application, 2015–2024 (USD Million)
Table 38 Torque Sensor Market in Europe for Automotive, By Technology, 2015–2024 (USD Million)
Table 39 Torque Sensor Market in Europe for Industrial, By Technology, 2015–2024 (USD Million)
Table 40 Torque Sensor Market in Europe for Test and Measurement, By Technology, 2015–2024 (USD Million)
Table 41 Torque Sensor Market in Europe for Aerospace and Defense, By Technology, 2015–2024 (USD Million)
Table 42 Torque Sensor Market in Europe for Others, By Technology, 2015–2024 (USD Million)
Table 43 Torque Sensor Market in APAC, By Country, 2015–2024 (USD Million)
Table 44 Torque Sensor Market in APAC, By Application, 2015–2024 (USD Million)
Table 45 Torque Sensor Market in Asia Pacific for Automotive, By Technology, 2015–2024 (USD Million)
Table 46 Torque Sensor Market in Asia Pacific for Industrial, By Technology, 2015–2024 (USD Million)
Table 47 Torque Sensor Market in Asia Pacific for Test and Measurement, By Technology, 2015–2024 (USD Million)
Table 48 Torque Sensor Market in Asia Pacific for Aerospace and Defense, By Technology, 2015–2024 (USD Million)
Table 49 Torque Sensor Market in Asia Pacific for Others, By Technology, 2015–2024 (USD Million)
Table 50 Torque Sensor Market in RoW, By Region, 2015–2024 (USD Million)
Table 51 Torque Sensor Market in RoW, By Application, 2015–2024 (USD Million)
Table 52 Torque Sensor Market in RoW for Automotive, By Technology, 2015–2024 (USD Million)
Table 53 Torque Sensor Market in RoW for Industrial, By Technology, 2015–2024 (USD Million)
Table 54 Torque Sensor Market in RoW for Test and Measurement, By Technology, 2015–2024 (USD Million)
Table 55 Torque Sensor Market in RoW for Aerospace and Defense, By Technology, 2015–2024 (USD Million)
Table 56 Torque Sensor Market in RoW for Others, By Technology, 2015–2024 (USD Million)
Table 57 Product Launches, 2015–2018
Table 58 Mergers and Acquisitions, 2015–2018
Table 59 Expansions, 2015–2018

List of Figures (28 Figures)

Figure 1 Torque Sensor Market Segmentation
Figure 2 Report Snapshot
Figure 3 Process Flow
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Assumptions for Research Study
Figure 8 Rotary Torque Sensors to Hold Larger Size of Torque Sensor Market During Forecast Period
Figure 9 Torque Sensor Market for Optical to Grow at Highest CAGR During Forecast Period
Figure 10 Torque Sensor Market for Automotive Applications to Grow at Highest CAGR During Forecast Period
Figure 11 APAC to Hold Largest Share of Torque Sensor Market By 2018
Figure 12 Increasing Use of Torque Sensors in Robotics to Offer Opportunities for Market Growth
Figure 13 Strain Gauge Technology Expected to Hold the Largest Share of the Torque Sensor Market During Forecast Period
Figure 14 Automotive Held Largest Share of Torque Sensor Market in APAC in 2017
Figure 15 Torque Sensor Market in China to Grow at Highest CAGR During Forecast Period
Figure 16 Automotive to Grow at Highest CAGR During Forecast Period
Figure 17 Increasing Demand for Advanced High-Performance Vehicles Spurs Growth of Torque Sensor Market
Figure 18 Strain Gauge Technology is Expected to Hold Largest Share of Torque Sensor Market
Figure 19 Automotive Application Expected to Dominate the Torque Sensor Market During Forecast Period
Figure 20 Torque Sensor Market: Geographic Snapshot
Figure 21 North America: Torque Sensor Market Snapshot
Figure 22 Europe: Torque Sensor Market Snapshot
Figure 23 APAC: Torque Sensor Market Snapshot
Figure 24 Ranking of Key Players in Torque Sensor Market (2017)
Figure 25 Product Launch: Key Strategy Adopted By Major Players During 2015–2018
Figure 26 ABB: Company Snapshot
Figure 27 Honeywell International: Company Snapshot
Figure 28 Infineon Technologies: Company Snapshot

Note: Product cover images may vary from those shown
3 of 4

Loading
LOADING...

4 of 4
  • ABB
  • Aimco
  • Applied Measurements
  • Crane Electronics
  • Datum Electronics
  • FUTEK Advanced Sensor Technology
  • HBM
  • Honeywell International
  • Infineon Technologies
  • Interface
  • Kistler Holding
  • Magcanica
  • Mountz
  • Norbar Torque Tools
  • PCB Piezotronics
  • S.Himmelstein and Company
  • Sensor Technology
  • TE Connectivity
  • Teledyne Technologies
  • Transense Technologies
Note: Product cover images may vary from those shown
Adroll
adroll