Summary

Torque sensors are essential devices utilized for measuring the torque of rotating systems such as electric motors, engines, gearboxes, and craft shifts. Accurate torque measurement and monitoring are crucial parameters for the efficient operation of all machines and engines.

The torque sensor market is anticipated to experience significant growth due to emerging applications, increasing demand for precise torque measurement technology, and high demand from the automotive application segment. However, technological challenges posed by the diversity in the application of torque sensors are expected to act as a major restraining factor for the market's expansion.

Torque Sensors Market Trends

High Demand for Rotary Torque Sensors

Rotary torque sensors are extensively used in automotive applications. Key applications of rotary torque sensors in the automotive industry include automotive engine testing, electric motor testing, and efficiency testing. The market is witnessing the introduction of advanced product offerings by key players to meet the evolving needs of their customers. This trend is contributing to the sustained demand for rotary torque sensors.

Rising Need for Accurate Torque Measurement Technology

The torque sensors market is poised for substantial growth due to the emergence of new applications. The growing emphasis on performance optimization and quality control across various industries is driving the adoption of torque sensors. The use of torque sensors in robotics and medical prosthetics is expected to be a major growth driver. These applications highlight the increasing importance of accurate torque measurement technology in diverse fields.

Development of Non-contact & Wireless Sensors

Manufacturers are focusing on integrating new torque sensing technologies, including the development of non-contact and wireless sensors based on surface acoustic wave (SAW), magnetoelastic, and optical torque sensing technologies. Advancements in sensing technology, coupled with price reductions, have broadened the application scope of torque sensors. This has significantly contributed to the market's growth.

Strict Government Regulations Related to Machine Safety in Developed Countries

Stringent government regulations related to machine safety in developed countries such as the U.S., U.K., Canada, Germany, and France are increasing the adoption of advanced systems like torque sensors across various industries. Enhanced safety in machines and operations can be achieved by reducing the force generated along with torque. Technological advancements in torque sensors have improved performance, accuracy, and reliability, while also ensuring enhanced safety.

Regional Outlook of Torque Sensors Market

East Asia holds a significant share of the torque sensors market and is expected to maintain its dominance. The North American market holds the second-largest share and is projected to expand at the highest growth rate. Europe and the South Asia and Pacific regions also show substantial sales of torque sensors.

COVID-19 Impact on Torque Sensors Market

The pandemic has affected the adoption of torque sensors in the manufacturing industry, likely to suppress market growth in the near term. Nationwide lockdowns and restrictions have forced end users in the manufacturing industry to operate with minimal workforce attendance, consequently lowering production efficiency and procurement budgets. These factors are anticipated to hamper the growth of the torque sensors market temporarily.

Analysts’ Viewpoint

The torque sensors market is set to witness steady growth, with stakeholders looking to Asia and North America for increased sales and profits. Rotary torque sensors are expected to experience significant demand, presenting opportunities for manufacturers to capitalize on this trend.

Torque Sensors Market: Segmentation

The market study offers a detailed market taxonomy, with key segments discussed comprehensively. The segmentation is based on product, mechanical configuration, application, and region, each analyzed in detail to provide data on the growth of every segment.

By Product

• Rotary Torque Sensors

• Reaction Torque Sensors

• SAW Torque Sensors

• Optical Torque Sensors

• Others

By Mechanical Configuration

• Shaft Style

• Flange Style

By Application

• Automotive & Transportation

• Aerospace & Defense

• Medical & Healthcare

• Others

By Region

• North America

• Latin America

• Europe

• APAC

• MEA

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Table of Contents

1. Executive Summary
1.1. Global Torque Sensors Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2023
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Production Output and Trade Statistics, 2019-2023
3.1. Global Torque Sensors Production Output, by Region, Value (US$ Bn) and Volume (Units), 2019-2023
3.1.1. North America
3.1.2. Europe
3.1.3. Asia Pacific
3.1.4. Latin America
3.1.5. Middle East and Africa
4. Price Analysis, 2023
4.1. Global Average Price Analysis, by Product, US$ Per Unit, 2023
4.2. Prominent Factor Affecting Torque Sensors Prices
4.3. Global Average Price Analysis, by Region, US$ Per Unit, 2023
5. Global Torque Sensors Market Outlook, 2019-2031
5.1. Global Torque Sensors Market Outlook, By Product, Value (US$ Bn) and Volume (Units), 2019-2031
5.1.1. Key Highlights
5.1.1.1. Rotary Torque Sensors
5.1.1.2. SAW Torque Sensors
5.1.1.3. Optical Torque Sensors
5.1.1.4. Reaction Torque Sensors
5.1.1.5. Others
5.2. Global Torque Sensors Market Outlook, By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
5.2.1. Key Highlights
5.2.1.1. Shaft Style
5.2.1.2. Flange Style
5.3. Global Torque Sensors Market Outlook, By Application, Value (US$ Bn) and Volume (Units), 2019-2031
5.3.1. Key Highlights
5.3.1.1. Aerospace & Defence
5.3.1.2. Automotive & Transportation
5.3.1.3. Medical & Healthcare
5.3.1.4. Others
5.4. Global Torque Sensors Market Outlook, by Region, Value (US$ Bn) and Volume (Units), 2019-2031
5.4.1. Key Highlights
5.4.1.1. North America
5.4.1.2. Europe
5.4.1.3. Asia Pacific
5.4.1.4. Latin America
5.4.1.5. Middle East & Africa
6. North America Torque Sensors Market Outlook, 2019-2031
6.1. North America Torque Sensors Market Outlook, By Product, Value (US$ Bn) and Volume (Units), 2019-2031
6.1.1. Key Highlights
6.1.1.1. Rotary Torque Sensors
6.1.1.2. SAW Torque Sensors
6.1.1.3. Optical Torque Sensors
6.1.1.4. Reaction Torque Sensors
6.1.1.5. Others
6.2. North America Torque Sensors Market Outlook, By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
6.2.1. Key Highlights
6.2.1.1. Shaft Style
6.2.1.2. Flange Style
6.3. North America Torque Sensors Market Outlook, By Application, Value (US$ Bn) and Volume (Units), 2019-2031
6.3.1. Key Highlights
6.3.1.1. Aerospace & Defence
6.3.1.2. Automotive & Transportation
6.3.1.3. Medical & Healthcare
6.3.1.4. Others
6.4. North America Torque Sensors Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019-2031
6.4.1. Key Highlights
6.4.1.1. U.S. Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
6.4.1.2. U.S. Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
6.4.1.3. U.S. Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
6.4.1.4. Canada Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
6.4.1.5. Canada Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
6.4.1.6. Canada Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
6.4.2. BPS Analysis/Market Attractiveness Analysis
7. Europe Torque Sensors Market Outlook, 2019-2031
7.1. Europe Torque Sensors Market Outlook, By Product, Value (US$ Bn) and Volume (Units), 2019-2031
7.1.1. Key Highlights
7.1.1.1. Rotary Torque Sensors
7.1.1.2. SAW Torque Sensors
7.1.1.3. Optical Torque Sensors
7.1.1.4. Reaction Torque Sensors
7.1.1.5. Others
7.2. Europe Torque Sensors Market Outlook, By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
7.2.1. Key Highlights
7.2.1.1. Shaft Style
7.2.1.2. Flange Style
7.3. Europe Torque Sensors Market Outlook, By Application, Value (US$ Bn) and Volume (Units), 2019-2031
7.3.1. Key Highlights
7.3.1.1. Aerospace & Defence
7.3.1.2. Automotive & Transportation
7.3.1.3. Medical & Healthcare
7.3.1.4. Others
7.4. Europe Torque Sensors Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1. Key Highlights
7.4.1.1. Germany Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.2. Germany Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.3. Germany Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.4. U.K. Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.5. U.K. Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.6. U.K. Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.7. France Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.8. France Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.9. France Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.10. Italy Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.11. Italy Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.12. Italy Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.13. Türkiye Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.14. Türkiye Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.15. Türkiye Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.16. Russia Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.17. Russia Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.18. Russia Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.19. Rest of Europe Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.20. Rest of Europe Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.1.21. Rest of Europe Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
7.4.2. BPS Analysis/Market Attractiveness Analysis
8. Asia Pacific Torque Sensors Market Outlook, 2019-2031
8.1. Asia Pacific Torque Sensors Market Outlook, By Product, Value (US$ Bn) and Volume (Units), 2019-2031
8.1.1. Key Highlights
8.1.1.1. Rotary Torque Sensors
8.1.1.2. SAW Torque Sensors
8.1.1.3. Optical Torque Sensors
8.1.1.4. Reaction Torque Sensors
8.1.1.5. Others
8.2. Asia Pacific Torque Sensors Market Outlook, By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
8.2.1. Key Highlights
8.2.1.1. Shaft Style
8.2.1.2. Flange Style
8.3. Asia Pacific Torque Sensors Market Outlook, By Application, Value (US$ Bn) and Volume (Units), 2019-2031
8.3.1. Key Highlights
8.3.1.1. Aerospace & Defence
8.3.1.2. Automotive & Transportation
8.3.1.3. Medical & Healthcare
8.3.1.4. Others
8.4. Asia Pacific Torque Sensors Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1. Key Highlights
8.4.1.1. China Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1.2. China Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1.3. China Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1.4. Japan Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1.5. Japan Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1.6. Japan Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1.7. South Korea Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1.8. South Korea Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1.9. South Korea Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1.10. India Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1.11. India Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1.12. India Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1.13. Southeast Asia Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1.14. Southeast Asia Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1.15. Southeast Asia Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1.16. Rest of Asia Pacific Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1.17. Rest of Asia Pacific Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.1.18. Rest of Asia Pacific Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
8.4.2. BPS Analysis/Market Attractiveness Analysis
9. Latin America Torque Sensors Market Outlook, 2019-2031
9.1. Latin America Torque Sensors Market Outlook, By Product, Value (US$ Bn) and Volume (Units), 2019-2031
9.1.1. Key Highlights
9.1.1.1. Rotary Torque Sensors
9.1.1.2. SAW Torque Sensors
9.1.1.3. Optical Torque Sensors
9.1.1.4. Reaction Torque Sensors
9.1.1.5. Others
9.2. Latin America Torque Sensors Market Outlook, By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
9.2.1. Key Highlights
9.2.1.1. Shaft Style
9.2.1.2. Flange Style
9.3. Latin America Torque Sensors Market Outlook, By Application, Value (US$ Bn) and Volume (Units), 2019-2031
9.3.1. Key Highlights
9.3.1.1. Aerospace & Defence
9.3.1.2. Automotive & Transportation
9.3.1.3. Medical & Healthcare
9.3.1.4. Others
9.4. Latin America Torque Sensors Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019-2031
9.4.1. Key Highlights
9.4.1.1. Brazil Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
9.4.1.2. Brazil Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
9.4.1.3. Brazil Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
9.4.1.4. Mexico Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
9.4.1.5. Mexico Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
9.4.1.6. Mexico Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
9.4.1.7. Argentina Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
9.4.1.8. Argentina Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
9.4.1.9. Argentina Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
9.4.1.10. Rest of Latin America Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
9.4.1.11. Rest of Latin America Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
9.4.1.12. Rest of Latin America Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
9.4.2. BPS Analysis/Market Attractiveness Analysis
10. Middle East & Africa Torque Sensors Market Outlook, 2019-2031
10.1. Middle East & Africa Torque Sensors Market Outlook, By Product, Value (US$ Bn) and Volume (Units), 2019-2031
10.1.1. Key Highlights
10.1.1.1. Rotary Torque Sensors
10.1.1.2. SAW Torque Sensors
10.1.1.3. Optical Torque Sensors
10.1.1.4. Reaction Torque Sensors
10.1.1.5. Others
10.2. Middle East & Africa Torque Sensors Market Outlook, By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
10.2.1. Key Highlights
10.2.1.1. Shaft Style
10.2.1.2. Flange Style
10.3. Middle East & Africa Torque Sensors Market Outlook, By Application, Value (US$ Bn) and Volume (Units), 2019-2031
10.3.1. Key Highlights
10.3.1.1. Aerospace & Defence
10.3.1.2. Automotive & Transportation
10.3.1.3. Medical & Healthcare
10.3.1.4. Others
10.4. Middle East & Africa Torque Sensors Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019-2031
10.4.1. Key Highlights
10.4.1.1. GCC Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
10.4.1.2. GCC Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
10.4.1.3. GCC Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
10.4.1.4. South Africa Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
10.4.1.5. South Africa Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
10.4.1.6. South Africa Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
10.4.1.7. Egypt Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
10.4.1.8. Egypt Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
10.4.1.9. Egypt Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
10.4.1.10. Nigeria Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
10.4.1.11. Nigeria Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
10.4.1.12. Nigeria Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
10.4.1.13. Rest of Middle East & Africa Torque Sensors Market By Product, Value (US$ Bn) and Volume (Units), 2019-2031
10.4.1.14. Rest of Middle East & Africa Torque Sensors Market By Mechanical Configuration, Value (US$ Bn) and Volume (Units), 2019-2031
10.4.1.15. Rest of Middle East & Africa Torque Sensors Market By Application, Value (US$ Bn) and Volume (Units), 2019-2031
10.4.2. BPS Analysis/Market Attractiveness Analysis
11. Competitive Landscape
11.1. Company Market Share Analysis, 2023
11.2. Competitive Dashboard
11.3. Company Profiles
11.3.1. ABB Ltd.
11.3.1.1. Company Overview
11.3.1.2. Product Portfolio
11.3.1.3. Financial Overview
11.3.1.4. Business Strategies and Development
11.3.2. FUTEK Advanced Sensor Technology, Inc.
11.3.2.1. Company Overview
11.3.2.2. Product Portfolio
11.3.2.3. Financial Overview
11.3.2.4. Business Strategies and Development
11.3.3. Interface Inc.
11.3.3.1. Company Overview
11.3.3.2. Product Portfolio
11.3.3.3. Financial Overview
11.3.3.4. Business Strategies and Development
11.3.4. Honeywell International, Inc.
11.3.4.1. Company Overview
11.3.4.2. Product Portfolio
11.3.4.3. Financial Overview
11.3.4.4. Business Strategies and Development
11.3.5. Kistler Holding AG
11.3.5.1. Company Overview
11.3.5.2. Product Portfolio
11.3.5.3. Financial Overview
11.3.5.4. Business Strategies and Development
11.3.6. HBM GmbH
11.3.6.1. Company Overview
11.3.6.2. Product Portfolio
11.3.6.3. Financial Overview
11.3.6.4. Business Strategies and Development
11.3.7. ATI Industrial Automation, Inc.
11.3.7.1. Company Overview
11.3.7.2. Product Portfolio
11.3.7.3. Financial Overview
11.3.7.4. Business Strategies and Development
11.3.8. Crane Electronics Ltd.
11.3.8.1. Company Overview
11.3.8.2. Product Portfolio
11.3.8.3. Financial Overview
11.3.8.4. Business Strategies and Development
11.3.9. Sensor Technology Ltd.
11.3.9.1. Company Overview
11.3.9.2. Product Portfolio
11.3.9.3. Financial Overview
11.3.9.4. Business Strategies and Development
11.3.10. Datum Electronic Limited
11.3.10.1. Company Overview
11.3.10.2. Product Portfolio
11.3.10.3. Financial Overview
11.3.10.4. Business Strategies and Development
12. Appendix
12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations