The Global Torque Sensor Market size is expected to reach $15 billion by 2025, rising at a market growth of 7% CAGR during the forecast period. Torque sensors have multiple uses across various vertical industries, including automotive, manufacturing, and aerospace. Torque sensors can be used to measure the torque on rotating systems which include engines, electric motors, crankshafts, and gearboxes. An increase in the global demand for electric and hybrid vehicles along with a rising need for electric power steering (EPS) systems is influencing the growth of torque sensor market. The torque sensors are suitable for a wide range of applications including, among others, torsional measuring motor dynamometers, machines, fan testing, electric motor testing, hydraulic pump testing.
Global Torque Sensor Market Size
The installation of torque reaction sensors is cost-effective since they do not consist of slip-rings, bearings or other rotating components. Rotary torque sensors however have high accuracies and RPM ratings (revolutions per minute). Rotary torque sensors can test the electric motor, dynamometer, the gearbox, car engine and measure the train speed. Recently, there have been various advancements in wireless and non-contact torque sensors industry. These include optical torque and magnetoelastic, which are expected to increase torque sensor use in several industries such as robotics.
Torque Sensor Market Share
In the coming years, the torque sensor market size is expected to increase exponentially, powered by the growing need for torque measurement in mechanical and electrical systems. These instruments are mainly used to calculate torque rates in several machineries used in automotive manufacturing, huge production systems, and machines for power generation. Devices such as pumps and turbines integrate these sensors in large quantities to continuously measure and sustain the amount of torque generated to the required level, further supporting demand from the industry. Industrial specifications such as regulation torque measurement ISO 9000 are implemented in all forms of equipment and machinery for quality control.
Based on Type, the market is segmented into Rotary Torque Sensors and Reaction Torque Sensors. Based on Technology, the market is segmented into Strain Gauge, Magnetoelastic, Surface Acoustic Wave and Others. Based on Application, the market is segmented into Automotive, Test & Measurement, Aerospace & Defense, Industrial and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Free Valuable Insights: Global Torque Sensor Market to reach a market size of $15 billion by 2025
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., ABB Group, Infineon Technologies AG, MTS Systems Corporation (PCB Piezotronics, Inc.), Snap-On, Inc. (Norbar Torque Tools), Crane Electronics, Ltd., FUTEK Advanced Sensor Technology, Inc, Applied Measurements Ltd., Kistler Group (Kistler Holding AG), and MagCanica, Inc.
Market Segmentation:
By Type
By Technology
By Application
By Geography
Companies Profiled
The global torque sensor market size is expected to reach $15 billion by 2025.
The market is expected to witness a boost due to Rise in Demand for High Performance Vehicles, Emerging Application of Torque Sensor in the Healthcare Vertical, and Growing importance of torque measurement. The market growth is expected to get affected due to Impact of the coronavirus on defence and aerospace industries.
The top market players are Honeywell International, Inc., ABB Group, Infineon Technologies AG, MTS Systems Corporation (PCB Piezotronics, Inc.), Snap-On, Inc. (Norbar Torque Tools), Crane Electronics, Ltd., FUTEK Advanced Sensor Technology, Inc, Applied Measurements Ltd., Kistler Group (Kistler Holding AG), and MagCanica, Inc.
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