Torque Sensor Market Poised to Reach USD 10.76 Billion by 2030, Growing at a 6.2% CAGR

Torque Sensor Market Overview & Growth Forecast

Summary: The Global Torque Sensor Market was valued at USD 7.5 billion in 2023 and is expected to grow at a CAGR of 6.2% from 2024 to 2030, reaching nearly USD 10.76 billion by 2030. The increasing adoption of torque sensors in automotive, aerospace, manufacturing, and medical industries is driving the market's growth. The latest report by Maximize Market Research provides insights into key trends, competitive landscape, and market opportunities.

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Market Size & Growth Trends

The torque sensor industry is expanding due to technological advancements, rising demand for high-precision measurement tools, and increased automation across industries. The growth is particularly fueled by adoption in electric vehicles, smart manufacturing, and medical devices.

Scope and Research Methodology

This study is based on comprehensive primary and secondary research. Primary research involves interviews with industry experts, sensor manufacturers, and key decision-makers, while secondary research includes market analysis from financial reports, industry publications, and regulatory insights. The research methodology ensures accuracy in market segmentation, revenue forecasts, and competitor analysis.

Market Coverage

The report provides a detailed analysis of market trends, segmentation, and competitive landscape, covering:

  • Market segmentation by product type, application, mechanical configuration, and technology

  • Competitive landscape with pricing, financial performance, and expansion strategies

  • Regional market analysis identifying high-growth areas

Market Overview & Key Dynamics

Key Growth Drivers:

  • Increased use of torque sensors in industrial automation and robotics

  • Growing adoption in electric vehicles (EVs) and hybrid vehicles

  • Advancements in wireless and non-contact torque sensors

  • Rising demand for precision measurement solutions in aerospace and medical applications

Challenges:

  • High initial cost of advanced torque sensors

  • Technical limitations in extreme environmental conditions

  • Complex integration into existing systems

Market Segmentation

By Product Type:

  • Reaction Torque

  • Rotational Torque

By Application:

  • Automotive

  • Aerospace

  • Manufacturing

  • Medical

  • Other

By Mechanical Configuration:

  • Shaft Style

  • Flange Style

By Technology:

  • Strain Gauge

  • Surface Acoustic Wave

  • Optical

  • Magnetoelastic

  • Others

Key Players in the Torque Sensor Market

The report profiles major industry players, including:

  • ABB Ltd

  • Crane Electronics Ltd

  • TE Connectivity Ltd

  • Honeywell International

  • Infineon Technologies AG

  • Teledyne Technologies, Inc.

  • Datum Electronics Ltd

  • PCB Piezotronics, Inc.

  • MagCanica, Inc.

  • FUTEK Advanced Sensor Technology

  • Interfaceforce

Reasons to Buy This Report

  • Comprehensive industry analysis covering market trends and growth forecasts.

  • In-depth segmentation analysis to identify growth opportunities.

  • Competitive landscape insights on key market players.

  • Regional market breakdown highlighting high-growth regions.

  • Impact of COVID-19 on market dynamics and recovery strategies.

Table of Contents:

  1. Executive Summary

  2. Market Overview & Industry Trends

  3. Market Segmentation & Analysis

  4. Competitive Landscape

  5. Regional Market Insights

  6. Market Growth Drivers & Challenges

  7. Future Market Projections

  8. Research Methodology

  9. Appendix

If you have any questions regarding this report, please reach out to us through the link provided below: https://www.maximizemarketresearch.com/market-report/global-torque-sensor-market/8098/ 

About Maximize Market Research

Maximize Market Research is a leading market research and business consulting firm, offering in-depth insights across industries such as IT & Telecom, Chemicals, Food & Beverage, Aerospace & Defense, and Healthcare. Our research provides data-driven, growth-oriented strategies for businesses to make informed decisions.

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