Top Factor Driving Torque Sensor Market Growth in 2025: Surging Electric Vehicle Adoption Fuels Torque Sensor Market Growth

How Are the key drivers contributing to the expansion of the torque sensor market?
The rise in the usage of electric vehicles has been instrumental in driving the growth of the torque sensor market. Torque sensors are utilized by manufacturers of electric vehicles for gauging driving and braking torque as well as efficiency. The global count of electric vehicles on the road in 2020 was around 10 million. To illustrate, government agency Eurostat, based in Luxembourg, reported in January 2024 that the number had reached close to 3.0 million in 2022. This represented a 55% growth from the 1.9 million that was recorded in 2021. Hence, the escalating demand for electric vehicles is one of the key catalysts for the continuing expansion of the torque sensor market.

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What growth opportunities are expected to drive the torque sensor market's CAGR through 2034?
The market size of the torque sensor has seen a tremendous surge in growth in the past few years. Its growth is projected to rise from $11.31 billion in 2024 to $13.58 billion in 2025, with a compound annual growth rate (CAGR) of 20.0%. This notable growth in the historical period is largely due to the demand from the automotive industry, advancements in industrial automation, increased utilization of renewable energy, applications in the aerospace and defense sectors, and space exploration.

The market size for torque sensors is anticipated to experience significant expansion in the forthcoming years. The market is predicted to climb to a worth of $25.56 billion in 2029, with a compound annual growth rate (CAGR) of 17.1%. This increase during the forecast period can be associated with the proliferation of electric vehicles, the adoption of industry 4.0 and Internet of Things (IoT), technological advancements in healthcare, robotic automation, and the implementation of smart grids. Some of the noteworthy trends during this period include the miniaturization and integration, assimilation of industry 4.0 and IoT, no-contact torque sensing, digital calibration and self-diagnostic processes, and wireless torque sensing.

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What are the emerging trends shaping the future of the torque sensor market?
The torque sensor market is witnessing the growth in popularity of a prominent trend: technological advancements. As an illustration, Hottinger Bru ̈el & Kjær (HBK), a tech-based company out of Denmark, in June 2024, introduced their next-generation torque sensor. The T110/100 torque sensor, equipped with integrated telemetry and an adaptable, universal stator, stands as a significant breakthrough. This novel technology opens up fresh opportunities in assisting engineers to troubleshoot test bench and measurement issues, predominantly in the realm of powertrain testing and specifically in the field of electric vehicles.

Which growth-oriented segments of the torque sensor market are leading the industry's development?
The torque sensor market covered in this report is segmented -

1) By Type: Reaction Torque Sensor, Rotary Torque Sensor
2) By Technology: Strain Gauge, Surface Acoustic Wave (SAW), Optical, Magnetoelastic
3) By Application: Automotive, Industrial, Aerospace and Defense, Healthcare

Subsegments:
1) By Reaction Torque Sensor: Static Torque Sensors, Dynamic Torque Sensors
2) By Rotary Torque Sensor: Contact Rotary Torque Sensors, Non-Contact Rotary Torque Sensors

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What regions are leading the charge in the torque sensor market?
North America was the largest region in the torque sensor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the torque sensor market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

What companies are at the forefront of innovation in the torque sensor market?
Major companies operating in the torque sensor market include ABB Group, Applied Measurements Ltd., Crane Electronics Ltd., FUTEK Advanced Sensor Technology Inc., Honeywell International Inc., Kistler Group, MagCanica Inc., Datum Electronics Limited, Hottinger Baldwin Messtechnik GmbH, PCB Piezotronics Inc., Interface Inc., TE Connectivity Ltd., Bota Systems, HITEC Sensor Solutions, Mountz Inc., S. Himmelstein & Company, Transense Technologies plc, ATI Industrial Automation Inc., HBK Benelux, Sensor Technology Ltd., Norbar Torque Tools Ltd., Magtrol SA, Scaime SAS, Lorenz Messtechnik GmbH, KTR Systems GmbH, Manner Sensortelemetrie GmbH, RDP Electronics Ltd.

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What Is Covered In The Torque Sensor Global Market Report?

•Market Size Forecast: Examine the torque sensor market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the torque sensor market for a structured understanding.
•Key Players Overview: Analyze major players in the torque sensor market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the torque sensor market.
•Segment Contributions: Evaluate how different segments drive overall growth in the torque sensor market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the torque sensor market.
•Industry Challenges: Identify potential risks and obstacles affecting the torque sensor market.
•Competitive Landscape: Review strategic developments in the torque sensor market, including expansions, agreements, and new product launches.

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