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.
MARKET DYNAMICS:
KEY DRIVERS:
RESTRAINTS:
OPPORTUNITIES:
CHALLENGES:
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
Surface Acoustic Wave (SAW)
Optical
Magnetoelastic
BY APPLICATION
Automotive
Test & Measurement
Industrial
Aerospace & Defense
Others
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
Report Attributes | Details |
---|---|
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 |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Historical Data | 2020-2021 |
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
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 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
8.1Introduction
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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