TORQUE SENSORS MARKET ANALYSIS

Torque Sensors Market Size and Trends

Global torque sensors market is estimated to be valued at US$ 6.61 Bn in 2024 and is expected to reach US$ 10.48 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.8% from 2024 to 2031.

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Global  torque sensors market is expected to witness positive growth over the forecast period due to  growing demand for sensors from industrial robots.  Torque sensors play a crucial role in industrial robots for measuring the torque on various joints during operations. The advantages of torque sensors in industrial robots such as high accuracy, compact size, and ability to withstand harsh environment further increases its usage. Growing industrial automation and adoption of collaborative robots or cobots across various industries including automotive, electronics, food & beverages, and packaging can boost demand for torque sensors during the forecast period. Rising focus on implementation of Industry 4.0 can offer opportunities for torque sensor manufacturers in the near future.

Advancing industrial automation

Torque sensors play a vital role in various automated industrial equipment and machinery by precisely measuring and monitoring torque levels during operations. These are increasingly being used in robotics and automated assembly lines to sense torque delivery and ensure product quality. Robotic arms and other industrial robotics require torque sensors for position and force control. Advanced manufacturing techniques like 3D printing also depend on torque sensing for additive manufacturing processes. Furthermore, sectors like automotive, food processing, and semiconductor manufacturing are automating more of their assembly and packaging steps, thus, boosting demand for torque transducers. Growing automation in areas like autonomous vehicles, collaborative robotics, and intelligent IoT devices can boost adoption of torque sensing technology. With industries striving to enhance productivity through labor-saving automation, the market for torque sensors will witness growth.

Electrification of vehicles

Rapid electrification  in automotive sector can drive the market growth. As more automakers shift focus towards developing electric, hybrid, and fuel cell vehicles, there is increasing reliance on torque sensors compared to traditional combustion engines. Key EV components like motors, gearboxes, drivetrains and battery packs require precise torque measuring for optimum performance and safety. Torque sensor plays a vital role in smooth acceleration and efficient energy transmission in electric powertrains. Advanced driver-assistance systems and autonomous driving functionalities also depend on the accurate interpretation of drive train torque levels. Moreover, growing demand for alternators, starter motors and other auto parts with integrated torque detection can boost widespread usage of torque sensing technology. Hybridization of existing vehicles using technologies such as start-stop and mild hybridization can also boost demand for torque sensors. The electrification megatrend in the automotive industry provides a revenue stream for torque transducer manufacturers.