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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

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

“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.


  • INTRODUCTION
    • STUDY OBJECTIVES
    • DEFINITION
    • STUDY SCOPE
      • YEARS CONSIDERED
    • CURRENCY
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • MARKET BREAKDOWN AND DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHT
    • ATTRACTIVE OPPORTUNITIES FOR TORQUE SENSOR MARKET GROWTH
    • TORQUE SENSOR MARKET BY TECHNOLOGY
    • TORQUE SENSOR MARKET IN APAC
    • TORQUE SENSOR MARKET, BY GEOGRAPHY
    • TORQUE SENSOR MARKET BY APPLICATION
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
    • TORQUE SENSORS: VALUE CHAIN ANALYSIS
  • TORQUE SENSOR MARKET, BY TYPE
    • INTRODUCTION
      • Table TORQUE SENSOR MARKET, BY TYPE, 2015–2024 (USD MILLION)
    • ROTARY TORQUE SENSORS
      • CONTACT-BASED SENSING
      • NONCONTACT-BASED SENSING
        • Table MARKET FOR ROTORY TORQUE SENSOR, BY SENSING PROCESS, 2015–2024 (USD MILLION)
        • Table MARKET FOR ROTARY TORQUE SENSORS, BY APPLICATION, 2015–2024 (USD MILLION)
    • REACTION TORQUE SENSORS
      • AUTOMOTIVE APPLICATION EXPECTED TO BE THE MAJOR APPLICATION OF REACTION TORQUE SENSOR
        • Table MARKET FOR REACTION TORQUE SENSORS, BY APPLICATION, 2015–2024 (USD MILLION)
  • TORQUE SENSOR MARKET, BY TECHNOLOGY
    • INTRODUCTION
      • Table TORQUE SENSOR MARKET, BY TECHNOLOGY, 2015–2024 (USD MILLION)
    • SURFACE ACOUSTIC WAVE
      • BENEFITS SUCH AS HIGH STABILITY, HIGH SENSITIVITY DRIVING THE ADOPTION OF SURFACE ACOUSTIC WAVE TECHNOLOGY IN TORQUE SENSING PROCESS
        • Table TORQUE SENSOR MARKET FOR SAW, BY APPLICATION, 2015–2024 (USD MILLION)
    • MAGNETOELASTIC
      • AUTOMOTIVE IS MAJOR APPLICATION AREA FOR MAGNETOELASTIC TECHNOLOGY
        • Table TORQUE SENSOR MARKET FOR MAGNETOELASTIC, BY APPLICATION, 2015–2024 (USD MILLION)
    • OPTICAL
      • OPTICAL TECHNOLOGY EXPECTED TO BE THE FASTEST GROWING TECHNOLOGY IN TORQUE SENSOR MARKET
        • Table TORQUE SENSOR MARKET FOR OPTICAL, BY APPLICATION, 2015–2024 (USD MILLION)
    • STRAIN GAUGE
      • HIGH PRECISION MEASUREMENT TASKS INCREASE THE DEMAND OF STARIN GAUGE TECHNOLOGY IN TORQUE SENSORS
        • Table TORQUE SENSOR MARKET FOR STRAIN GAUGE, BY APPLICATION, 2015–2024 (USD MILLION)
  • TORQUE SENSOR MARKET, BY APPLICATION
    • INTRODUCTION
      • Table TORQUE SENSOR MARKET, BY APPLICATION, 2015–2024 (USD MILLION)
    • AUTOMOTIVE
      • ELECTRIC POWER SYSTEM BOOSTING THE GROWTH OF TORQUE SENSOR MARKET FOR AUTOMOTIVE APPLICATION
        • Table TORQUE SENSOR MARKET FOR AUTOMOTIVE, BY TECHNOLOGY, 2015–2024 (USD MILLION)
        • Table TORQUE SENSOR MARKET FOR AUTOMOTIVE, BY REGION, 2015–2024 (USD MILLION)
        • Table TORQUE SENSOR MARKET FOR AUTOMOTIVE, BY TYPE, 2015–2024 (USD MILLION)
    • TEST & MEASUREMENT
      • PRODUCT TESTING APPLICATION IS EXPECTED TO DRIVE THE TORQUE SENSOR MARKET IN TEST & MEASUREMENT APPLICATION
        • Table TORQUE SENSOR MARKET FOR TEST AND MEASUREMENT, BY TECHNOLOGY, 2015–2024 (USD MILLION)
        • Table TORQUE SENSOR MARKET FOR TEST AND MEASUREMENT, BY REGION, 2015–2024 (USD MILLION)
        • Table TORQUE SENSOR MARKET FOR TEST AND MEASUREMENT, BY APPLICATION TYPE, 2015–2024 (USD MILLION)
        • Table TORQUE SENSOR MARKET FOR TEST AND MEASUREMENT, BY TYPE, 2015–2024 (USD MILLION)
    • INDUSTRIAL
      • QUALITY CONTROL SPECIFICATIONS PLAY A VITAL ROLE IN THE GROWTH OF TORQUE SENSOR MARKET IN INDUSTRIAL APPLICATION
        • Table TORQUE SENSOR MARKET FOR INDUSTRIAL, BY TECHNOLOGY, 2015–2024 (USD MILLION)
        • Table TORQUE SENSOR MARKET FOR INDUSTRIAL, BY REGION, 2015–2024 (USD MILLION)
        • Table TORQUE SENSOR MARKET FOR INDUSTRIAL, BY TYPE, 2015–2024 (USD MILLION)
        • Table TORQUE SENSOR MARKET FOR INDUSTRIAL, BY APPLICATION TYPE, 2015–2024 (USD MILLION)
    • AEROSPACE & DEFENSE
      • INCREASING ADOPTION OF TORQUE SENSOR FOR MONITORING AND MEASURING AIRCRAFT OPERATIONS IS EXPECTED TO DRIVE THE TORQUE SENSOR MARKET FOR AEROSPACE & DEFESNE APPLICATION
        • Table TORQUE SENSOR MARKET FOR AEROSPACE AND DEFENSE, BY TECHNOLOGY, 2015–2024 (USD MILLION)
        • Table TORQUE SENSOR MARKET FOR AEROSPACE AND DEFENSE, BY REGION, 2015–2024 (USD MILLION)
        • Table TORQUE SENSOR MARKET FOR AEROSPACE AND DEFENSE, BY TYPE, 2015–2024 (USD MILLION)
    • OTHERS
      • MEDICAL AND AGRICULTURE ARE OTHER MAJOR APPLICATION DRIVING TORQUE SENSOR MARKET
        • Table TORQUE SENSOR MARKET FOR OTHERS, BY TECHNOLOGY, 2015–2024 (USD MILLION)
        • Table TORQUE SENSOR MARKET FOR OTHERS, BY REGION, 2015–2024 (USD MILLION)
        • Table TORQUE SENSOR MARKET FOR OTHERS, BY TYPE, 2015–2024 (USD MILLION)
  • GEOGRAPHIC ANALYSIS
    • INTRODUCTION
      • Table TORQUE SENSOR MARKET, BY REGION, 2015–2024 (USD MILLION)
    • NORTH AMERICA
      • Table TORQUE SENSOR MARKET IN NORTH AMERICA, BY COUNTRY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN NORTH AMERICA, BY APPLICATION, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN NORTH AMERICA FOR AUTOMOTIVE, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN NORTH AMERICA FOR INDUSTRIAL, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN NORTH AMERICA FOR TEST AND MEASUREMENT, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN NORTH AMERICA FOR AEROSPACE AND DEFENSE BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN NORTH AMERICA FOR OTHERS, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • US
      • CANADA
    • EUROPE
      • Table TORQUE SENSOR MARKET IN EUROPE, BY COUNTRY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN EUROPE, BY APPLICATION, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN EUROPE FOR AUTOMOTIVE, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN EUROPE FOR INDUSTRIAL, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN EUROPE FOR TEST AND MEASUREMENT, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN EUROPE FOR AEROSPACE AND DEFENSE, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN EUROPE FOR OTHERS, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • GERMANY
      • UK
      • FRANCE
      • SPAIN
      • REST OF EUROPE
    • ASIA PACIFIC
      • Table TORQUE SENSOR MARKET IN APAC, BY COUNTRY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN APAC, BY APPLICATION, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN ASIA PACIFIC FOR AUTOMOTIVE, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN ASIA PACIFIC FOR INDUSTRIAL, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN ASIA PACIFIC FOR TEST AND MEASUREMENT, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN ASIA PACIFIC FOR AEROSPACE AND DEFENSE, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN ASIA PACIFIC FOR OTHERS, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • CHINA
      • JAPAN
      • SOUTH KOREA
      • REST OF APAC
    • REST OF THE WORLD
      • Table TORQUE SENSOR MARKET IN ROW, BY REGION, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN ROW, BY APPLICATION, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN ROW FOR AUTOMOTIVE, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN ROW FOR INDUSTRIAL, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN ROW FOR TEST AND MEASUREMENT, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN ROW FOR AEROSPACE AND DEFENSE, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • Table TORQUE SENSOR MARKET IN ROW FOR OTHERS, BY TECHNOLOGY, 2015–2024 (USD MILLION)
      • SOUTH AMERICA
      • MIDDLE EAST AND AFRICA
  • COMPETITIVE LANDSCAPE
    • INTRODUCTION
    • RANKING ANALYSIS OF PLAYERS IN TORQUE SENSOR MARKET
    • COMPETITIVE SITUATIONS AND TRENDS
      • PRODUCT LAUNCHES
        • Table PRODUCT LAUNCHES, 2015–2018
      • MERGERS AND ACQUISITIONS
        • Table MERGERS AND ACQUISITIONS, 2015–2018
      • EXPANSIONS
        • Table EXPANSIONS, 2015–2018
  • COMPANY PROFILE
    • INTRODUCTION
    • KEY PLAYERS
      • ABB
      • CRANE ELECTRONICS
      • FUTEK ADVANCED SENSOR TECHNOLOGY
      • HBM
      • APPLIED MEASUREMENTS
      • HONEYWELL INTERNATIONAL
      • KISTLER HOLDING
      • SENSOR TECHNOLOGY
      • NORBAR TORQUE TOOLS
      • INFINEON TECHNOLOGIES
    • OTHER IMPORTANT PLAYERS
      • TELEDYNE TECHNOLOGIES
      • DATUM ELECTRONICS
      • MAGCANICA
      • INTERFACE
      • AIMCO
      • TE CONNECTIVITY
      • MOUNTZ
      • PCB PIEZOTRONICS
      • S.HIMMELSTEIN AND COMPANY
      • TRANSENSE TECHNOLOGIES
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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