The Torque Sensor Market size was estimated at USD 7.52 billion in 2022 and expected to reach USD 8.06 billion in 2023, at a CAGR 7.48% to reach USD 13.40 billion by 2030.
Market Segmentation & Coverage:
This research report analyzes various sub-markets, forecasts revenues, and examines emerging trends in each category to provide a comprehensive outlook on the Torque Sensor Market.
Based on Type, market is studied across Reaction Torque Sensors and Rotary Torque Sensors. The Rotary Torque Sensors is further studied across Contact-Based Sensing and Noncontact-Based Sensing. The Rotary Torque Sensors commanded largest market share of 60.73% in 2022, followed by Reaction Torque Sensors.
Based on Technology, market is studied across Magnetoelastic, Optical, Strain Gauge, and Surface Acoustic Wave. The Strain Gauge commanded largest market share of 39.52% in 2022, followed by Magnetoelastic.
Based on Application, market is studied across Aerospace & Defense, Automotive, Industrial, and Test & Measurement. The Automotive commanded largest market share of 36.37% in 2022, followed by Industrial.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 36.54% in 2022, followed by Europe, Middle East & Africa.
The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is an indispensable tool for assessing the Torque Sensor Market. It comprehensively evaluates vendors, analyzing key metrics related to Business Strategy and Product Satisfaction. This enables users to make informed decisions tailored to their specific needs. Through advanced analysis, vendors are categorized into four distinct quadrants, each representing a different level of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V). Be assured that this insightful framework empowers decision-makers to navigate the market with confidence.
Market Share Analysis:
The Market Share Analysis offers invaluable insights into the vendor landscape Torque Sensor Market. By evaluating their impact on overall revenue, customer base, and other key metrics, we provide companies with a comprehensive understanding of their performance and the competitive environment they confront. This analysis also uncovers the level of competition in terms of market share acquisition, fragmentation, dominance, and industry consolidation during the study period.
Key Company Profiles:
The report delves into recent significant developments in the Torque Sensor Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Aimco Global, Applied Measurements Ltd., Cooper Instruments & Systems, Crane Electronics Ltd., Datum Electronics Ltd., FUTEK Advanced Sensor Technology, Inc., HBM Inc., Honeywell International Inc., Infineon Technologies AG, Interface, Inc., Kistler Group, Magcanica Inc., MOOG, Mountz, Inc., Norbar Torque Tools, NSK Ltd., PCB Piezotronics, Inc., S. Himmelstein and Company, Sensor Technology Ltd., TE Connectivity, Teledyne Technologies, and Transense Technologies.
The report offers valuable insights on the following aspects:
- Market Penetration: It provides comprehensive information about key players’ market dynamics and offerings.
- Market Development: In-depth analysis of emerging markets and penetration across mature market segments, highlighting lucrative opportunities.
- Market Diversification: Detailed information about new product launches, untapped geographies, recent developments, and investments.
- Competitive Assessment & Intelligence: Exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of leading players.
- Product Development & Innovation: Intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast for the Torque Sensor Market?
- Which products, segments, applications, and areas hold the highest investment potential in the Torque Sensor Market?
- What is the competitive strategic window for identifying opportunities in the Torque Sensor Market?
- What are the latest technology trends and regulatory frameworks in the Torque Sensor Market?
- What is the market share of the leading vendors in the Torque Sensor Market?
- Which modes and strategic moves are suitable for entering the Torque Sensor Market?