Torque Sensor Market - Global Industry Analysis by Market Share, Trend, Size, Competitive Landscape, Regional Outlook and Forecast (2024-2030)

Torque Sensor Market Overview

A torque sensor, also known as a torque transducer or torque meter, converts mechanical torque into an electrical signal for measurement. It relies on a sensing element to detect strain or deformation caused by applied torque, providing crucial data for accurate and reliable torque measurement in various industrial applications. The Global Torque Sensor Market, valued at USD 8.75 billion in 2023, is projected to grow at a CAGR of 6.34% from 2024 to 2030, reaching nearly USD 13.46 billion. This growth is driven by the rising demand for precise torque measurements in various applications, such as aerospace, marine, and racing. The shift towards electric and hybrid electric vehicles (EVs and HEVs) is a significant factor propelling the market.

 

Torque sensors are crucial in the automotive industry for engine and gearbox testing, navigation control, and powertrain monitoring, ensuring quality and performance standards. For instance, NSK Ltd. has developed a practical magnetostrictive torque sensor (3rd-generation) for automobiles, offering a smaller size and lower cost compared to conventional models likely to driving significant growth in the Torque Sensor Industry. This new sensor ensures reliability, compactness, and cost-competitiveness, making it applicable to automotive powertrains, actuators, e-bike drive units, and other mobility types. It enhances failure prediction, provides a comfortable ride, extends driving mileage, and improves performance through weight-reduction and space-saving features, while also shortening development periods. North America leads the market, fueled by its advanced automotive sector requiring high-precision measurement technologies to enhance vehicle performance and meet strict emissions regulations.

 

 

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Torque Sensor Market Dynamics

Rising Demand for Electric Vehicles (EVs) to Drive the Market Growth

The burgeoning electric vehicle market is a crucial driver for torque sensor demand. EVs require precise torque measurement for efficient motor control and battery management, making torque sensors essential components. As governments worldwide push for greener transportation solutions and consumers increasingly adopt EVs, the need for high-performance torque sensors grows. This trend is expected to continue, driven by ongoing investments in EV technology and infrastructure to bolster the Torque Sensor Market.

 

Global EV sales continued as expected by us at the beginning of 2023. A total of 14,2 million new Battery Electric Vehicles (BEV) and Plug-in Hybrids (PHEV) were delivered during 2023, an increase of +35 %. 10 million were pure electric BEVs and 4,2 million were Plug-in Hybrids (PHEV) and Range Extender EVs (EREV). China is, by far, the largest EV market with 8,4 million units in 2023 and 59 % of global EV sales. With 9,3 million EVs made, China's role as the largest EV production base is even stronger: 65 % of global EV sales in 2023 came out of China. 900 000 EVs were exported from China, most of them (530k) by Western brands.

 

The largest exporters were Tesla, SAIC (MG, Maxus), Geely (Volvo, Polestar, Lynk, Smart) BYD, Renault (Dacia), BMW and Great Wall. All others exported below 20,000 units each. The manufacture of hybrid and electric vehicles is advancing due to a focus on pollution control and strict environmental restrictions, encouraging Torque Sensor Market. To comply with government regulations, consumers and manufacturers are forecasted to seek more environmentally friendly automobiles, putting a value on hybrid and electric vehicles, which are driving the market. In US the EV sales skyrocketed 81% in the latest month, while hybrid sales were up 32%.  However, the vast majority of Ford's sales nearly 90% continued to be from traditional internal combustion engine vehicles. Hybrid vehicles continue to be a growth segment for Ford and sales have grown at a faster rate than the overall U.S. industry for much of the last year.

 

 

The Infrastructure Investment and Jobs Act, signed into law in November 2021, allocated $7.5 billion to building out a nationwide charging network. The funding has initially focused on installing fast chargers along the interstate highway system, which would help mitigate battery range fears and enable long-distance travel. The legislation also included large investments to upgrade the nation’s power grid key for accommodating rising electricity demand as EV adoption grows—and to expand domestic battery production and recycling capacity. On the consumer side, tax credits spur demand. For instance, the Inflation Reduction Act, signed into law in August 2022, extended a tax credit of up to $7,500 for the purchase of new EVs until 2032 and provided, for the first time, that tax credits could be used for purchasing used EVs.

 

Increased Automation in Manufacturing to Boost the Torque Sensor Market Growth

In the ever-evolving manufacturing industry, automation has emerged as a game-changer, revolutionizing production processes and driving efficiency. The global industrial automation market is expected to reach $395.09 billion by 2030, growing at a CAGR of 8.6%. This shift is fueled by the falling costs of robotics and sensors, combined with the increasing sophistication of artificial intelligence that allows machines to perform tasks previously thought to require human expertise. The benefits are undeniable: studies by the MMR suggest that automation increases productivity by up to 35% and reduces manufacturing costs by 20%.

 

The trends indicate that manufacturers harness the power of automation to enhance their operations, improve productivity, and stay ahead of the competition.  The surge in industrial automation is a significant driver for the Torque Sensor Market. Automated manufacturing processes rely heavily on precise torque measurement for quality control, machinery maintenance, and operational efficiency. The adoption of Industry 4.0 and smart manufacturing practices has amplified the demand for advanced torque sensors capable of providing real-time feedback and integration with IoT systems. This shift towards automation is set to drive sustained growth in the Torque Sensor Industry as industries strive for higher productivity and reduced downtime.

 

Automation has grown vastly in various sectors including IT, aerospace and pharmaceuticals. In 2018-22 industrial robot installations were at 82.3% across U.S. industries and have grown steadily ever since. Automation improves employee and organizational performance by increasing productivity and worker retention and creating a safe environment that promotes Torque Sensor Market growth and innovation. Technological advancement has made automation and industrial robots accessible to various businesses, and multiple companies benefit from automated systems and processes.

 

Table: Benefits of Automation in Manufacturing

Goal of Automation	Explanation
Improves Efficiency	Industries have seen up to a 5.1% increase in production in the initial stages of implementing automation. Automation keeps up with output demands and meets strict deadlines by providing a faster manufacturing process and performing various functions simultaneously. It also tracks real-time data to detect changes in quality or inefficiencies.
Enhances Quality	Automated systems are designed to meet specific requirements and accurately carry out applications. They complete repetitive tasks with precision, increasing consistency and quality. Automation helps businesses improve production, meet industry demands, stay competitive, and adhere to customer standards.
Increases Safety	Automation creates a safer work environment by handling hazardous tasks, allowing employees to focus on safer duties. This fosters a safety culture, leading to better job satisfaction and employee retention, as workers feel more secure and less stressed.
Improves Employee Productivity	Automation boosts employee productivity by reducing human error and allowing workers to perform higher-value tasks. Employees working alongside automation and AI enhance their skills, leading to higher efficiency and performance.
Reduces Costs	Automation minimizes costly mistakes and material waste by reducing human error. A single automated tool performs various functions, saving money on multiple machines. Fully automated production lines can significantly cut labor costs and increase profits through higher productivity and efficiency.

 

Increasing Utilization of Torque Sensor in Medical Devices to Boost the Market Growth

The medical device industry is witnessing a surge in the use of torque sensors for various applications, including surgical instruments, rehabilitation equipment, and prosthetics. These sensors provide accurate feedback and control, enhancing the functionality and safety of medical devices. As healthcare technologies advance and the demand for sophisticated medical equipment grows, the torque sensor market is set to expand accordingly. The torque sensor market is experiencing significant growth due to rapid technological advancements. Innovations in sensor technology, such as the development of non-contact and wireless torque sensors, have enhanced accuracy, reliability, and ease of integration into various applications. These advancements have expanded the use of torque sensors across industries including automotive, aerospace, and industrial machinery, driving demand. Also, improvements in signal processing and data acquisition have enabled real-time monitoring and diagnostics, further propelling Torque Sensor Market growth.

 

Development of Specialized Torque Sensors for Niche Applications to Create Lucrative Opportunities for Market Growth

There is a growing opportunity in the development of specialized torque sensors tailored for niche applications. Industries such as medical devices, robotics, and renewable energy have unique torque measurement needs that standard sensors not adequately address. By designing sensors with specific features, such as miniaturization for medical devices or high durability for wind turbines, manufacturers cater to these specialized markets. This approach not only opens new revenue streams but also establishes a competitive edge through product differentiation in the Torque Sensor Market.

 

The Torque Sensor Market in North America is strong and growing, and much of the increased demand has to do with the automotive industry’s demand for better fuel efficiency. Other reasons torque measurement is increasing in the automotive sector are trends toward electrical power steering and condition-based maintenance. Torque sensors have been used in numerous applications throughout the automotive industry. Rotary torque sensors are used for strain measurement, testing of clutch and gearboxes, and dynamic torque within the engine. The powertrain, brake, and suspension systems are tested using torque sensors, which are also used to measure horsepower in the interest of improving fuel efficiency. Many automotive manufacturers use in-vehicle torque sensors for mapping engine torque and calibrating the automatic transmission.

 

Torque sensors are used in fleet and customer-use testing so engineers collect data under ordinary (or extraordinary in the event of an accident) conditions. However, rapid industrialization, urbanization, and infrastructural development in regions including Asia-Pacific, Latin America, and Africa are driving the demand for advanced manufacturing technologies. These regions are increasingly adopting automation and modern machinery, creating a growing need for torque sensors. Companies that strategically expand their presence and tailor their offerings to meet the specific requirements of these emerging markets capitalize on significant growth opportunities for Torque Sensor Manufacturers.

 

For instance, Separate Sensing Head: Sensor Technology's new TorqSense SGR530/540 series features a torque sensor with a separate sensing head and electronics. This design allows the sensing head to fit into tight spaces while keeping the electronics protected from damage and environmental factors. Utilizing a four-element strain gauge bridge, it measures shaft deflection to calculate torque accurately. This series, building on the SGR510/520 models, offers high bandwidth and sensitivity, essential for capturing transient torque spikes and detailed measurement. Advantages include automatic compensation for extraneous forces, a 400% mechanical overload limit, and multipoint calibration. It supports various communication options, ensuring high precision and reliability in demanding industrial applications.

 

Torque Sensors are sophisticated sensors that often incorporate intricate materials and complex manufacturing processes to achieve high precision and reliability. The integration of advanced technologies in torque sensors significantly escalates their cost, creating a substantial barrier to Torque Sensor Market growth. For instance, the incorporation of strain gauges, magnetoelastic sensors, or fiber-optic sensors involves expensive raw materials and advanced engineering expertise.

 

This heightened cost limits the adoption of torque sensors to industries where precision measurement is critical and budgets are flexible, such as the aerospace and high-end automotive sectors. Small and medium-sized enterprises, especially in developing regions, find it challenging to invest in these high-cost sensors, curbing the market's expansion. Also, the initial investment for setting up production lines for advanced torque sensors is prohibitively high, deterring new entrants and innovation. Thus, the cost factor remains a significant hurdle, necessitating strategies to reduce production expenses and make advanced torque-sensing technologies more accessible.

 

Torque Sensor Market Segment Analysis

By Product Type, Accurate torque measuring and monitoring in static applications is crucial as companies prioritize quality control and precise engineering. Based on the product type, the rotary torque sensor segment is dominated by this Torque Sensor Market size, thanks to its extensive applications in the automotive, aerospace, manufacturing, and other sectors. Due to its versatility, rotary torque sensors are widely used across various industries, including robotics, aircraft, automotive, and manufacturing. These sensors enable industries to ensure proper torque distribution, detect irregularities, and enhance efficiency in stationary systems.  

 

For instance, Scaime offers a wide range of torque sensors for precise and reliable torque measurement in both fixed and rotating parts, with torquemeters ranging from 0.005 Nm to 20,000 Nm. Their high-tech rotating torquemeters measure up to 30,000 rpm with 0.05% precision. These sensors serve various industries, including manufacturing and automotive, and are used in test rigs, production control rigs, and assembly systems. Scaime’s product range includes static and rotating torquemeters, dual-axis force/torque sensors, and couplings, catering to diverse applications such as engine torque control. However, reaction torque sensors are experiencing the fastest growth rate in the market due to their increasing use in static applications that demand high accuracy and stability, such as in robotics, aircraft, and medical devices.

 

By Application, The automotive segment held the largest Torque Sensor Market share in 2023. This growth is due to the shift in consumer preferences towards electric vehicles (EVs) and hybrid electric vehicles (HEVs). This trend aligns with the global movement towards sustainable transportation practices, resulting in significant growth within the automotive sector. Torque sensors are crucial components in EVs and HEVs, ensuring optimal performance and efficiency. The surge in global production and sales of these vehicles has contributed to a burgeoning segment, thereby driving the expansion of the torque sensor market. Governments worldwide have implemented strict regulations for torque sensors in the automotive and transportation sectors, further fueling market growth. In these vehicles, torque sensors provide dynamic data for monitoring engine performance, maximizing energy efficiency, and enhancing driver experience.

 

 

Torque Sensor Market Regional Analysis

North America held the largest market share in 2023. This region have advanced automotive sector, which requires high-precision measuring technologies to enhance vehicle performance and comply with stringent emissions regulations. The region's robust industrial automation and manufacturing sectors drive high demand for torque sensors. Significant investments in Research and Development, coupled with the presence of major industry players and technological innovators, bolster North America's market position. Also, the aerospace, defense, and medical industries in the region are increasingly using torque sensors for critical applications, maintaining North America's dominance in the global Torque Sensor Market.

 

Asia Pacific is the fastest-growing region due to rapid industrial development and rising automotive production. Emerging economies including China, S. Korea, Japan and India are witnessing increased demand for innovative automotive technology and industrial automation, driving the adoption of torque sensors. For instance, India exported 1.8K torque sensor shipments, with 93 exporters supplying 176 buyers. The primary export destinations are the United States, China, and the Czech Republic, making India the second-largest torque sensor exporter globally. South Korea leads the market with 1,931 shipments, followed by India with 1,761 shipments, and Mexico in third place with 1,453 shipments. The growing presence of global key manufacturers and heightened Research and Development efforts further contribute to the market's growth in the region. The rise of electric and hybrid vehicles, along with advancements in robotics and aerospace, boosts the demand for high-performance torque sensors, solidifying Asia Pacific's position as the fastest-growing Torque Sensor Market.

 

Competitive Landscape

NSK Global and FUTEK Advanced Sensor Technology are key players in the Torque Sensor Market. NSK Global focuses on precision machinery and mechatronics, offering high-performance torque sensors primarily for industrial and automotive applications. In July 2020 NSK developed a non-contact torque sensor for automobiles (first-generation sensor), and then successfully achieved torque detection applicable to the general specifications of automotive driveshafts. However, although the torque sensor featured a simple, slim structure, it needed to be improved in terms of the reliability of actual applications. Accordingly, NSK made continuous improvements in a process of technical communication with customers, receiving their feedback on validation tests in application, and in 2022 developed a second-generation sensor with increased reliability.

 

The new product announced today is the third-generation torque sensor, developed as a practical model for automotive applications. Their sensors are known for reliability and accuracy. FUTEK, on the other hand, specializes in advanced sensor technologies, including miniaturized and custom torque sensors, catering to diverse industries like aerospace, robotics, and medical devices. While NSK benefits from its broad market reach and robust product line, FUTEK excels in innovation and customization, allowing it to meet niche market demands effectively.

 

Conclusion: In conclusion, the Torque Sensor Market is poised for substantial growth driven by diverse factors across global industries. With a projected CAGR of 6.34% from 2024 to 2030, reaching USD 13.46 billion, the market benefits from increasing demand for precise torque measurement in sectors such as automotive, aerospace, and manufacturing. The shift towards electric vehicles (EVs) and hybrid electric vehicles (HEVs) amplifies this demand, supported by stringent regulations and technological advancements enhancing vehicle performance and efficiency. Innovations like NSK's third-generation magnetostrictive torque sensor for automobiles illustrate ongoing advancements, promising smaller sizes, lower costs, and improved reliability.

 

North America leads due to its advanced automotive sector and robust industrial automation, while Asia Pacific emerges as the fastest-growing region, driven by industrial development and rising automotive production. These dynamics, coupled with growing applications in medical devices and industrial automation, underscore a promising future for torque sensors in enhancing operational efficiency and meeting stringent quality standards globally.

 

The report provides a comprehensive study of the global market for industry stakeholders, covering historical, present, and projected states, along with trends and analyses using PORTER and PESTEL frameworks. It assesses microeconomic factors and internal/external elements to aid decision-makers in anticipating market dynamics and structure for informed strategies.

 

Torque Sensor Market Scope

Torque Sensor Market
Market Size in 2023	USD 8.75 Bn.
Market Size in 2030	USD 13.46 Bn.
CAGR (2024(2030)	6.34 %
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Torque Sensor Market Segments	By Product Type Reaction Torque Rotary Torque
	By Mechanical Configuration     Shaft Style Flange Style
	By Technology Strain Gauge Surface Acoustic Wave Optical Magnetoelastic Others
	By Application Automotive Aerospace Manufacturing Medical Other
Regional Scope	North America – United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Russia, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa – South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Torque Sensor Key players

1. ABB Ltd (Switzerland)
2. Crane Electronics Ltd (United Kingdom)
3. TE Connectivity Ltd (Switzerland)
4. NSK Global (Japan)
5. HBK Benelux (Spectris PLC) (Netherlands)
6. Applied Measurements Ltd (United Kingdom)
7. Honeywell International (USA)
8. Norbar Torque Tools Ltd (United Kingdom)
9. Infineon Technologies AG (Germany)
10. Teledyne Technologies, Inc. (USA)
11. Datum Electronics Ltd (United Kingdom)
12. PCB Piezotronics, Inc. (USA)
13. Kistler Instrumente AG (Switzerland)
14. MagCanica, Inc. (USA)
15. FUTEK Advanced Sensor Technology (USA)
16. Interfaceforce (USA)