The global torque sensor market is projected to grow at a significant CAGR of over 6% during the forecast period. The major factor contributing to the growth of the market includes the growing application of torque in various end-use applications such as automotive, industrial, and others. The application of torque sensors in the automotive improves the performance and safety of the vehicles. Moreover, the rising demand for high performance and safety vehicles, increasing importance of torque management, and technological innovations in torque sensor technology are other factors that contribute to the growth of the market during the forecast period.
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The global torque sensor market is segmented on the basis of technology and application. Based on technology, the market is divided into strain gauge, SAW, magnetoelastic and optical. The optical segment is projected to have significant growth in the market owing to the increasing preference of torque measurement for low torque and high bandwidth applications. Moreover, electrical passiveness and high sensitivity further contribute to the adoption of optical torque sensors for various applications. On the basis of application, the market is segregated into automotive, aerospace & defense industrial, and others.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Torque Sensor Market Segmentation
By Technology
- Strain Gauge
- Surface Acoustic Wave (SAW)
- Magnetoelastic
- Optical
By Application
- Automotive
- Aerospace & Defense
- Industrial
- Others (Medical and Agriculture)
Torque Sensor Market – Segment by Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
The Report Covers
- Market value data analysis of 2018 and forecast to 2025.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global torque sensor market. Based on the availability of data, information related to products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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