Steady Expansion Forecast for Torque Sensor Market, Projected to Reach $24.7 Billion by 2029

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Torque Sensor Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, there has been a swift expansion in the torque sensor market size. Its growth is anticipated to escalate from $11.31 billion in 2024 to $13.38 billion in 2025, marking a compound annual growth rate (CAGR) of 18.3%. The historic period's growth can be accredited to factors like heightened demand in the automotive industry, progression in industrial automation, rise in renewable energy, applications in aerospace and defense, and space exploration.

Torque Sensor Market Size Forecast: What's the Projected Valuation by 2029?
Over the coming years, a swift increase is anticipated in the size of the torque sensor market, eventually reaching $24.7 billion by 2029, growing at a compound annual rate (CAGR) of 16.6%. The expected growth during the projection timeframe may primarily be a result of factors such as the evolution of electric vehicles, the incorporation of Industry 4.0 and IoT, robotic automation, advanced health technologies, and the execution of smart grids. Noteworthy trends during the projection period include the miniaturization and integration, assimilation of Industry 4.0 and IoT, the introduction of non-contact torque sensing, digital calibration and self-diagnostic practices, and the development of wireless torque sensing.

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What Are the Drivers Transforming the Torque Sensor Market?
The surge in the use of electric vehicles is fueling the expansion of the torque sensor market. These sensors are utilized by electric auto manufacturers to measure drive and braking torque along with efficiency. In 2020, there were 10 million electric vehicles on global highways. For example, Eurostat, a government agency in Luxembourg, reported that in January 2024, the figure reached close to 3.0 million in 2022, marking a 55% surge from the 1.9 million noted in 2021. Consequently, the escalating demand for electric vehicles is propelling the torque sensor market's growth.

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What Long-Term Trends Will Define the Future of the Torque Sensor Market?
The increasing advancements in technology serve as a notable trend in the torque sensor market. For example, in June 2024, Hottinger Bru ̈el & Kjær (HBK), a technology firm based in Denmark, introduced the subsequent generation of torque sensors. The T110/100 torque sensor, embedded with telemetry and a versatile, one-size-fits-all stator, serves as a significant breakthrough introducing new avenues to assist engineers in tackling test bench and measurement issues, with particular focus on powertrain testing for electric vehicles.

Which Segments in the Torque Sensor Market Offer the Most Profit Potential?
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, Healare

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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Which Firms Dominate the Torque Sensor Market by Market Share and Revenue in 2025?
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.

Which Regions Offer the Highest Growth Potential 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.

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