Leading Companies Reinforcing Their Presence in the Torque Sensor Market

The torque sensor market is gaining significant traction as industries seek more precise and efficient measurement technologies. With rapid advancements and expanding applications across various sectors, this market is set for impressive growth in the coming years. Let's explore the current market value, key players, emerging trends, and major segments shaping the torque sensor landscape.

Projected Market Value of the Torque Sensor Market by 2030
The torque sensor market is poised for robust expansion, expected to reach $28.46 billion by 2030. This reflects an impressive compound annual growth rate (CAGR) of 16.1% during the forecast period. Factors driving this surge include the rising demand for high-precision non-contact torque sensors and ongoing advances in magnetoelastic technology. Additionally, the proliferation of torque monitoring in electric vehicle drivetrains and the growth of smart factory torque diagnostics are key contributors. Increasing incorporation of torque sensors in medical devices and robotics also supports market growth. Anticipated trends include growth in smart mobility torque sensing, intelligent manufacturing torque monitoring, and IoT-enabled torque measurement systems. Furthermore, cloud-based torque analytics and torque solutions tailored for electrified powertrains are expected to gain prominence.

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Top Companies Leading the Torque Sensor Market
Several prominent companies have established themselves as leaders in the torque sensor sector. These 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, and RDP Electronics Ltd.

Strategic Acquisition Enhancing Market Capabilities
In September 2024, UK-based instrumentation giant Spectris plc acquired Piezocryst Advanced Sensorics GmbH for €133.5 million (approximately $146.04 million). This acquisition strengthens Spectris's position in the torque sensor market by incorporating Piezocryst's high-precision piezoelectric sensor technology, which is celebrated for its robustness and accuracy. By leveraging Spectris's expansive global sales network, this move enables Piezocryst to access new markets and accelerate innovations in torque measurement solutions. Piezocryst, headquartered in Austria, specializes in piezoelectric sensors, including those for torque applications.

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Current Trends Highlighting Innovation in Torque Sensors
Leading torque sensor manufacturers are concentrating on creating next-generation solutions that improve measurement accuracy and simplify integration. These advanced sensors often feature telemetry capabilities and flexible stator designs, allowing real-time torque data collection across multiple applications, particularly in electric vehicle development. For example, in June 2024, Denmark-based Hottinger Brüel & Kjær (HBK) introduced the T110/100 torque sensor, which combines integrated telemetry with a one-size-fits-all flexible stator. This innovation supports engineers in optimizing powertrain testing, streamlining measurement workflows, and enhancing testing efficiency for electric vehicles.

Key Market Segments Driving Torque Sensor Growth
The torque sensor market is segmented based on type, technology, and application to offer a comprehensive view of demand drivers. By type, the market includes Reaction Torque Sensors and Rotary Torque Sensors. Reaction Torque Sensors are further divided into Static and Dynamic Torque Sensors, while Rotary Torque Sensors comprise Contact and Non-Contact variants. Regarding technology, major categories encompass Strain Gauge, Surface Acoustic Wave (SAW), Optical, and Magnetoelastic sensors. Application-wise, the market serves industries such as Automotive, Industrial, Aerospace and Defense, and Healthcare, each segment contributing uniquely to overall market expansion.

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