Report Id: SNS/SEMI/1404 | May 2022 | Region: Global | 125 Pages
Report Scope & Overview:
Torque Sensor Market Size was valued at USD 6.99 billion in 2022, and is expected to reach USD 10.97 billion by 2030, and grow at a CAGR of 5.8% over the forecast period 2023-2030.
It determines how torque machines spin an object based on its power. Torque sensors are now employed in a wide range of applications. Torque sensors are becoming more advanced as technology progresses. The torque sensors gain greatly from the addition of a wireless and digital element. The torque sensor market is being driven by rising industrial demand. In addition, the aerospace, medical, and automotive industries are generating significant demand for torque sensors.
Furthermore, as the number of integrated vehicles grows, the torque sensor market will expand. Tests with fan torque technologies, motor dynameters, electric pumps, and electric car terminal testing are all conceivable. Wireless torque sensors are undergoing new advancements. All of these elements are thought to improve torque sensor market conditions. The rotating torque sensor will also have the highest demand from the end user in the future. Regulatory measures will enhance the overall market condition as fuel and power efficiency improves.
IMPACT OF COVID-19:
The COVID-19 epidemic, a deadly respiratory ailment that began in China and has now spread around the world, has had an impact on the torque sensor business. Different types of torque sensors will be affected by the COVID-19 outbreak. The majority of industrial machines are designed to be stationary and have reaction torque sensors. Reaction torque sensors are widely employed in industrial systems and in testing and measurement. As a result, compared to other categories, the growth of these segments is likely to be modestly hampered. However, because to the substantial pandemic impact on the performance of these businesses, the market for other types of torque sensors used in the automotive, aerospace, and defense industries could be significantly impacted. Rotary torque sensors are primarily used in the automotive, aerospace, and defense industries. Due to travel limitations and a lack of customer trust, both businesses are negatively affected by dropping automobile demand and declining flight orders.
The torque sensor market is divided into three categories: type, application, and region. On the basis of type, the market is divided into Rotary Torque Sensors, Reaction Torque Sensors. Applications covered in this market are Automotive, Test & Measurement, Industrial, Aerospace & Defense, Others. Also, technologies covered in this market are Strain Gauge, Surface Acoustic Wave (SAW), Optical, Magnetoelastic and Other.
The key players in Global Torque Sensor Market are Hottinger Baldwin, Messtechnik, Infineon Technologies, FUTEK Advanced Sensor Technology (US), Honeywell International, Applied Measurements (UK), Sensor Technology, Sensor Technology , Crane Electronics (UK), Norbar Torque Tools, Kistler Holding (Switzerland), ABB (Switzerland) and Other.
Rotary Torque Sensors
Reaction Torque Sensors
Surface Acoustic Wave (SAW)
Test & Measurement
Aerospace & Defense
Asia Pacific, Europe, and North America are the most important regions in the torque sensor industry. In high demand, the Asia Pacific market will develop faster than other regional players. The presence of major automobile manufacturers will boost demand in the region. China is a major contributor to the Torque Sensor Market's high development potential. Furthermore, North America has a strong demand for sensory torque. Additional revenue and growth rates in this region are attainable with a major investment. Furthermore, technological advancements will accelerate in the United States and Canada. The pre-torque automobile business will be in high demand in Europe. The entire demand in this region will be enhanced by new features and torque sensors with additional functionality.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 6.99 Billion|
|Market Size by 2030||US$ 10.97 Billion|
|CAGR||CAGR of 5.8% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Type (Rotary Torque Sensors, Reaction Torque Sensors)
• by Technology (Strain Gauge, Surface Acoustic Wave (SAW), Optical, Magnetoelastic)
• by application (Automotive, Test & Measurement, Industrial, Aerospace & Defense, Others)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Hottinger Baldwin, Messtechnik, Infineon Technologies, FUTEK Advanced Sensor Technology (US), Honeywell International, Applied Measurements (UK), Sensor Technology, Sensor Technology , Crane Electronics (UK), Norbar Torque Tools, Kistler Holding (Switzerland), ABB (Switzerland) and Other.|
|Key Drivers||• Torque measurement|
|RESTRAINTS||• Low reliability of available torque in high end applications.|
Frequently Asked Questions (FAQ) :
The Torque Sensor Market size was valued at 6.6 billion in 2021 at a CAGR of 5.8%.
The key players in Global Torque Sensor Market are Hottinger Baldwin, Messtechnik (Germany), Infineon Technologies (Germany), FUTEK Advanced Sensor Technology (US), Honeywell International (US), Applied Measurements (UK), Sensor Technology (UK), Sensor Technology (UK), Crane Electronics (UK), Norbar Torque Tools , Kistler Holding (Switzerland), ABB (Switzerland) and Other.
Torque measurement is the driving factor of the Torque Sensor Market.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
220.127.116.11 United Kingdom
18.104.22.168 South Korea
22.214.171.124 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 Force's model
7. PEST Analysis
8. Global Torque Sensor Market Segmentation, by type
8.2 Rotary Torque Sensors
8.3 Reaction Torque Sensors
9. Global Torque Sensor Market Segmentation, by Technology
9.2 Strain Gauge
9.3 Surface Acoustic Wave (SAW)
10. Global Torque Sensor Market Segmentation, By application
10.3 Test & Measurement
10.5 Aerospace & Defense
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12.1 Honeywell International (US).
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Hottinger Baldwin Messtechnik (Germany)
12.3 Infineon Technologies (Germany)
12.4 FUTEK Advanced Sensor Technology (US)
12.5 Applied Measurements (UK)
12.6 Sensor Technology (UK)
12.7 Sensor Technology (UK)
12.8 Crane Electronics (UK)
12.9 Norbar Torque Tools
12.10 Kistler Holding (Switzerland)
12.11 ABB (Switzerland)
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
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