Torque Sensor Market Analysis

Torque Sensor Market Analysis

Based on application, the market is segmented into aerospace & defense, automotive, testing & measurement, healthcare, and others. The automotive segment held a market share of over 6% in 2022 and is estimated to grow over the forecast period.
 

• Torque sensors are extensively used in engine testing applications. They measure and analyze the torque output of engines to assess performance, efficiency, and emissions. Accurate torque measurements are essential for optimizing engine design and calibration, ensuring that vehicles meet the regulatory standards and environmental requirements.
   
• In the automotive sector, torque sensors are employed for transmission testing. They evaluate the efficiency and durability of transmissions in different driving conditions, ensuring smooth gear changes and the overall reliability of the transmission system.
   
• Electric power steering systems rely on torque sensors to detect the driver's steering input and provide an appropriate level of assistance. Torque sensors ensure precise and responsive steering, contributing to driver comfort and vehicle safety.

Based on type, the market is segmented into rotary torque sensor and reaction torque sensor. The rotary torque sensor segment dominated the market with a revenue of over USD 3 billion in 2022.
 

• The automotive industry is a significant factor driving the growth of rotary torque sensors, particularly in applications related to engine and powertrain testing.
   
• As the automotive sector continues to evolve with the increasing adoption of EVs and hybrid vehicles, the demand for precise torque measurement will surge. Rotary torque sensors play a vital role in testing and quality control, ensuring the reliability & efficiency of EV components, transmissions, and powertrain systems.
   
• The growing emphasis on industrial automation including robotics is driving the demand for rotary torque sensors. These sensors are essential for monitoring & controlling the precise movements of robotic arms and machinery, ensuring safety & accuracy in automated processes.
   
• Industries such as manufacturing, warehousing, and logistics rely on robotics for increased efficiency & productivity, further fueling the demand for rotary torque sensors.

Asia Pacific torque sensor market is anticipated to witness a CAGR of over 7% during the forecast period. APAC is home to numerous manufacturing powerhouses including China, Japan, South Korea, and India. The regional industrial sector is majorly fueling torque sensor demand, especially in automotive, electronics, and machinery manufacturing. As these industries expand, the need for torque sensors for quality control and process optimization increases. The electronics and robotics sectors are thriving in APAC. Torque sensors are essential for robotics, automation, and industrial control systems. The growth of these industries is propelling the demand for torque sensors in the region. Countries in APAC are investing in renewable energy sources, particularly wind and solar power. Torque sensors are crucial in wind turbines for monitoring rotor and generator performance. As the shift to clean energy gains momentum, torque sensors will continue to be in demand.