Torque Sensor Market - By Type (Rotary Torque Sensor, Reaction Torque Sensor), By Technology (Surface Acoustic Wave, Optical, Strain Gauge, Others), By Application (A&D, Automotive, Testing & Measurement, Healthcare), Forecast 2023 - 2032

Torque Sensor Market - By Type (Rotary Torque Sensor, Reaction Torque Sensor), By Technology (Surface Acoustic Wave, Optical, Strain Gauge, Others), By Application (A&D, Automotive, Testing & Measurement, Healthcare), Forecast 2023 - 2032

Torque Sensor Market size is poised to record more than 6% CAGR from 2023-2032, on account of the rising emphasis on predictive maintenance and condition monitoring across industries.

The ongoing advancements in sensor technologies is resulting in rapid developments in miniaturized and more accurate torque sensors. To cite an instance, in October 2021, renowned robotic accessories provider ATI Industrial Automation developed its new ultra-thin Mini43LP Force/Torque Sensor for delivering high-precision force sensing in rugged, compact transducers. The surging advancements to render improved sensor performance for enabling higher integration into wider range of applications will also play ideal role in the market expansion.

The torque sensor industry is segmented based on type, technology, application, and region.

Based on type, the demand for reaction torque sensors will witness over 7% CAGR through 2032 on account of higher usage in automotive testing to assess the performance of transmissions, engines, and other rotating components. The growing stringency of vehicle safety standards is also driving the demand for reaction torque sensors to ensure the precision of safety-critical components, such as electronic stability control (ESC) and advanced driver assistance systems (ADAS).

In terms of application, the torque sensor industry from the healthcare segment is expected to proliferate up to 2032. The growth can be attributed to the rising trend of leveraging several new cutting-edge technologies to offer personalized and data-driven approaches to treatment, diagnosis, and rehabilitation. Surging adoption in sports medicine to measure joint torques and forces during athletic activities, and eventually assessing biomechanics, limiting injuries, and optimizing training regimens for athletes will drive the segment expansion.

Regionally, Europe torque sensor market size is expected to witness over 6% CAGR through 2032. The rising trend of industrial automation, smart manufacturing and Industry 4.0 practices is driving the demand for torque sensors to offer enhanced data analytics, automation, and predictive maintenance in manufacturing processes. The paradigm shift to EVs and the growing prominence of electric powertrains for providing accurate measurement and enabling precise control will contribute to the regional industry growth.