Demand for Torque Sensor Market is forecasted to reach a value of US$ 15,156 million by 2034

The torque sensor market (トルクセンサー市場) is projected to reach a value of US$ 8,601.2 million in 2024 and is expected to grow to US$ 15,156.3 million by 2034. This growth signifies a compound annual growth rate (CAGR) of 5.8% from 2024 to 2034, indicating a steady increase in demand for torque sensors over the forecast period.

Market Dynamics

Torque sensors play a critical role in various industries, including automotive, aerospace, and manufacturing, by measuring torque in rotating systems. The global torque sensor market is witnessing significant growth due to the increasing demand for precise torque measurement in various applications.

For More Insights into the Market, Request a Sample of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=9266

One of the key drivers of market growth is the rising demand for electric vehicles (EVs). As the automotive industry transitions towards electric propulsion, the need for accurate torque measurement in electric motors has increased. Torque sensors are essential in ensuring the efficiency and performance of electric drivetrains in EVs.

Additionally, the growing automation across industries has led to an increased demand for torque sensors in robotics and industrial machinery. Torque sensors help in monitoring and controlling the torque applied to robotic arms and machinery, ensuring smooth operation and preventing damage.

List of Key Companies Profiled in The Report

ABB Ltd.
Honeywell International Inc.
HBM (Hottinger Baldwin Messtechnik GmbH)
FUTEK Advanced Sensor Technology Inc.
Interface Inc.
Teledyne Technologies Inc.
Kistler Group
Applied Measurements Ltd.
Crane Electronics Ltd.
Datum Electronics

Market Future Outlook

The future of the torque sensor market looks promising, with steady growth anticipated in the coming years. Factors such as the increasing adoption of advanced torque sensing technologies, including surface acoustic wave (SAW) and magnetoelastic torque sensors, are expected to drive market growth. These technologies offer improved accuracy, reliability, and durability compared to traditional torque sensors, making them ideal for a wide range of applications.

Moreover, the integration of torque sensors with IoT (Internet of Things) technology is expected to create new opportunities in the market. IoT-enabled torque sensors can provide real-time torque data, allowing for predictive maintenance and enhanced operational efficiency in industrial applications.

Market Insights

The global torque sensor market is segmented based on type, technology, application, and region. By type, the market is segmented into reaction torque sensors and rotary torque sensors. Rotary torque sensors are widely used due to their ability to measure torque in both clockwise and counterclockwise directions, making them suitable for various applications.

Based on technology, the market is segmented into strain gauge, SAW, optical, and others. The strain gauge technology is the most widely used due to its cost-effectiveness and reliability. However, SAW and optical torque sensors are gaining traction due to their high accuracy and durability.

In terms of application, the automotive industry is the largest consumer of torque sensors, followed by aerospace, industrial, and others. The increasing demand for electric vehicles and the growing trend towards automation are driving the adoption of torque sensors in these industries.

Want Full Report? Enquire Here- https://www.factmr.com/report/torque-sensor-market

Recent Developments

NXP Semiconductors has unveiled the MXS1100 series, a lineup of high-performance analog integrated circuits (ICs) designed for a range of applications including automotive, industrial, medical, and consumer electronics. This series includes analog front-end ICs (AFCIs), analog-to-digital converters (ADCs), digital-to-analog converters (DACs), and power management ICs (PMICs), offering advanced signal processing capabilities.

In a similar vein, Honeywell International Inc. has launched the HXW Series of wireless force sensors, designed to deliver precise and reliable force measurement for applications such as robotics, automation, and industrial inspection.

Teledyne Technologies has introduced the TCS1000 Series of contactless torque sensors, engineered to provide high performance and durability in challenging environments, particularly suited for applications like oil and gas exploration.

Explore More Related Studies Published by Fact.MR Research:

Infrared Sensors Market (赤外線センサー市場): https://www.factmr.com/report/infrared-sensors-market

Marine Sensors Market(船舶用センサー市場): https://www.factmr.com/report/3624/marine-sensors-market

Transportation Sensors Market (交通センサー市場): https://www.factmr.com/report/2644/transportation-sensors-market

Contact:

US Sales Office

11140 Rockville Pike

Suite 400 Rockville, MD 20852

United States Tel: +1 (628) 251-1583, +353-1-4434-232 (D)

Sales Team: sales@factmr.com

About Fact.MR :

We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

This release was published on openPR.