China Taiwan Crises
Torque Sensor Market

Torque Sensor Market Size, Share & Segment 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), by Regions | Global Market Forecast 2022-2028

Report Id: SNS/SEMI/1404 | May 2022 | Region: Global | 125 Pages

Report Scope & Overview:

Torque Sensor Market Size was valued at USD 6.61billion in 2021, and is expected to reach USD 9.79 billion by 2028, and grow at a CAGR of 5.8% over the forecast period 2022-2028.

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.

Torque Sensor Market Revenue Graph

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.

MARKET DYNAMICS:

KEY DRIVERS:

  • Torque measurement

RESTRAINTS: 

  • Low reliability of available torque in high end applications.

OPPORTUNITIES: 

  • New torque measurement technologies

CHALLENGES: 

  • Decline demand in automotive Industry.

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.

MARKET ESTIMATION: 

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.

COMPETITIVE LANDSCAPE:

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.

MARKET SEGMENTATION:

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

Torque Sensor Market Segment Pie Chart

REGIONAL ANALYSIS:

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.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The 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

 

Torque Sensor Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 6.61 Billion
Market Size by 2028 US$ 9.79 Billion
CAGR CAGR of 5.8% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
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. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Global Torque Sensor Market Segmentation, by type

8.1Introduction

8.2 Rotary Torque Sensors

8.3 Reaction Torque Sensors

8.4 Other

 

9. Global Torque Sensor Market Segmentation, by Technology

9.1 Introduction

9.2 Strain Gauge

9.3 Surface Acoustic Wave (SAW)

9.4 Optical

9.5 Magnetoelastic

9.6 Other

 

10. Global Torque Sensor Market Segmentation, By application

10.1 Introduction

10.2 Automotive

10.3 Test & Measurement

10.4 Industrial

10.5 Aerospace & Defense

10.6 Others

 

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2    Canada

11.2.3    Mexico

11.3        Europe

11.3.1    Germany

11.3.2    UK

11.3.3    France

11.3.4    Italy

11.3.5    Spain

11.3.6    The Netherlands

11.3.7    Rest of Europe

11.4        Asia-Pacific

11.4.1    Japan

11.4.2    South Korea

11.4.3    China

11.4.4    India

11.4.5    Australia

11.4.6    Rest of Asia-Pacific

11.5        The Middle East & Africa

11.5.1    Israel

11.5.2    UAE

11.5.3    South Africa

11.5.4    Rest

11.6        Latin America

11.6.1    Brazil

11.6.2    Argentina

11.6.3    Rest of Latin America

 

 

12.Company Profiles

12.1 Honeywell International (US).

12.1.1 Financial

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)

12.12 Other

 

13.Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share analysis

13.3 Recent Developments

 

14.Conclusion

 

 

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

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