According to Markets and Markets Research, the global torque sensor market size will be $6.8 billion in 2021 and reach $7.6 billion by 2023, with a CAGR of 5.7%. Various types of torque sensors based on different technologies are being deployed worldwide, ranging from magnetounisex to surface acoustic wave SAW). Not only do they offer advantages over widely used strain gauge technologies, but they are also ideal for a variety of niche applications, with the goal of the report to define, describe and forecast the torque sensor industry by type, technology, application and region.

8440-1894 North America is the world’s largest market

By region, Asia Pacific is the largest market for torque sensors, with countries such as China, Japan and South Korea being the main contributors to the market growth. The growth of the automotive industry and the growing demand for advanced torque sensors in the region are the major drivers of the market in the Asia Pacific region. The European torque sensor market accounted for the third largest market share. Europe is an important market for torque sensors, with growing demand in various industries such as automotive, aerospace wind and manufacturing. The presence of major players in the region and the growing demand for advanced torque sensors for applications such as engine management, 8440-1894 powertrain control and wind turbine control are the main drivers of the European market. In addition, the EU’s focus on reducing carbon emissions and improving vehicle fuel efficiency has led to the increasing adoption of advanced torque sensors in the automotive industry. The growing demand for wind energy in the region is also driving the demand for torque sensors in the wind energy industry.

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The growth of the torque sensor market in North America is due to the increasing demand from the automotive and aerospace industries, as well as the growing demand for wind energy in the region. The increasing focus of major players in the North American market on improving fuel efficiency and reducing emissions will drive the growth of the North American torque sensor market in the coming years. In addition, the US torque sensor market holds the largest market share, and the Canadian torque sensor market is the fastest growing market in North America.

Europe, America, Japan and South Korea, domestic three camps

The global six-dimensional force and torque sensor manufacturers are mainly divided into Europe and the United States, Japan and South Korea, and domestic three camps:

European and American manufacturers: can be 8440-1894 divided into traditional sensor manufacturers such as ATI, Bota, Kistler, etc., and the world’s well-known Robot end tool manufacturers such as On Robot, Robotiq, etc., the latter mainly cooperates with local collaborative robot manufacturers, including Youao Robot, Daming Robot, etc.

Japanese and Korean manufacturers: six-dimensional force and torque sensor manufacturers are mainly Wacoh-Tech, Robo tous, etc., mainly supporting the robot manufacturers in the region Fanuko, Yaskawa and so on.

Domestic manufacturers: represented by Yuli Instrument, it has begun to compete with European, American, Japanese and Korean manufacturers in the global market, and domestic manufacturers also have Kunwei Technology, Xinjingcheng, Hibsen, Blue Point touch control, Shenyuan Sheng Intelligence, Reite measurement and control.