Strong Growth Ahead: Torque Sensor Market Size To Grow At Arecord 17.1% Cagr By 2029

The Torque Sensor Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Torque Sensor Market Size Expected to Be by 2034?
In the past few years, the torque sensor market has experienced exponential growth. The market is predicted to expand from $11.31 billion in 2024 to $13.58 billion in 2025, with a compound annual growth rate (CAGR) of 20.0%. Several factors have fueled this growth during the historic period, including demand from the automotive industry, industrial automation, the expanding renewable energy sector, and applications in the aerospace, defense, and space exploration industries.

Anticipated to witness substantial expansion in the forthcoming years, the torque sensor market is projected to escalate to $25.56 billion by 2029, growing at a compound annual growth rate (CAGR) of 17.1%. This growth during the forecast period is likely to be fueled by the proliferation of electric vehicles, the adoption of Industry 4.0 and IoT, robotic automation, the rise of emerging healthcare technologies, and the implementation of smart grid. Noteworthy trends during this period include the miniaturization and integration, incorporation of Industry 4.0 and IoT, non-contact torque sensing, digital calibration alongside self-diagnostics, and wireless torque sensing.

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What Are the Emerging Segments Within the Torque Sensor Market?
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 Long-Term Drivers Are Shaping Torque Sensor Market Trends?
The surge in electric vehicle uptake has fueled the expansion of the torque sensor market. Electric car manufacturers utilize torque sensors to gauge drive and braking force and effectiveness. By 2020, there were 10 million electric cars worldwide. For example, as per Eurostat, a government agency from Luxembourg, in 2022, the figure rose close to 3.0 million, marking a 55% surge relative to the 1.9 million documented in 2021. Consequently, the escalating demand for electric vehicles is promoting the progression of the torque sensor market.

Who Are the Top Competitors in Key Torque Sensor Market Segments?
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.

What Torque Sensor Market Trends Are Gaining Traction Across Different Segments?
The rise in technological innovations is a major trend seen in the torque sensor industry. As an example, Hottinger Bru ̈el & Kjær (HBK), a tech company based out of Denmark, unveiled its latest generation torque sensor in June 2024. Their T110/100 torque sensor, contains integrated telemetry along with a flexible stator of universal size. This heralds a significant development in paving the way for innovative solutions to assist engineers in tackling test bench and measurement issues, predominantly in powertrain testing and specifically for electric vehicles.

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Which Regions Are Becoming Hubs for Torque Sensor Market Innovation?
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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Torque Sensor Market?
2. What is the CAGR expected in the Torque Sensor Market?
3. What Are the Key Innovations Transforming the Torque Sensor Industry?
4. Which Region Is Leading the Torque Sensor Market?

Why This Report Matters:

Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.

Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

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