Force & Torque Sensor market is booming because of growing demand for electric and hybrid vehicles, due to which the market is expected to grow at a CAGR of 12.7% from 2024 to 2032

Market Research Future (MRFR) has published on the “Global Force & Torque Sensor market”.

According to International Energy Agency, Electric car sales in 2023 were 3.5 million higher than in 2022, a 35% year-on-year increase. In 2023, there were over 250 000 new registrations per week. Electric cars accounted for around 18% of all cars sold in 2023, up from 14% in 2022 and only 2% 5 years earlier, in 2018. These trends indicate growing market for electric cars. This growth is also creating high demand for the Force & Torque sensors in the market.

Automakers use force & torque sensors to improve engine efficiency. These sensors provide real-time data for power management adjustments. Electric vehicles are crucial for reducing global emissions. Sales of electric vehicles have grown significantly in recent years. They offer improved performance and increased model availability. Rising incomes worldwide drive demand for personal automobiles. More cars on the road increase carbon emissions. Hybrid electric vehicles are gaining popularity globally. They are fuel-efficient and emit fewer greenhouse gases. Automakers are focusing on creating more hybrid car models.

For instance, according to International Energy Agency, BYD is investing over USD 600 million in its electric car plant in Brazil – its first outside Asia – for an annual capacity of 150 000 vehicles. Also In 2024, Hyundai announced investments of USD 1.1 billion to 2032 to start local manufacturing of electric, hybrid and hydrogen cars.

With increased sales of SUVs, premium, and sports models, customers demand their vehicles to be equipped with innovative technologies in addition to performance. Globally, individuals are demanding electric vehicles because of a rising number of awareness programs promoting electric mobility being carried out by different public and commercial organizations. For instance, the International Energy Agency predicts 17 million electric vehicles will be sold in the year 2024, up more than 20% compared with 2023.

Furthermore, the necessity for accurate torque measurement has increased due to the acceleration of the shift to electric and hybrid vehicles in response to requirements for energy economy and environmental concerns. This demand emerges from the need to maintain efficient power distribution and control within these vehicles, emphasizing the importance of torque sensors in improving overall vehicle performance and encouraging the wider adoption of sustainable transportation solutions. Hence, the growing need for electric and hybrid vehicles is driving up the sales of Global Force & Torque Sensors market during the forecasted period.

Market Research Future (MRFR) has published a cooked research report on the “Force & Torque Sensor market” that contains information from 2019 to 2032. The Force & Torque Sensor market is estimated to register a CAGR of 12.7% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the Force & Torque Sensor market -

ABB, Honeywell International Inc., Lorenz Messtechnik GmbH, Crane Electronics, Kern & Sohn GmbH, Kistler Group, Tekscan, Inc. , Sensor Technology Ltd, HBK, Futek Advanced Sensor Technology Inc., Instron, Omega Engineering, Inc., Sensata Technologies, ForceN, TE Connectivity, ATI Industrial Automation Inc., Bota Systems.

Market Highlights

The Force & Torque Sensor market is accounted for to register a CAGR of 12.7% during the forecast period and is estimated to reach USD 35,125.7 million by 2032.

The market for force and torque sensors is experiencing a rising demand driven by the increasing adoption of Electric Power Steering (EPS) systems and the growing popularity of electric and hybrid vehicles worldwide. However, the market faces several restraints, including the low reliability of current force and torque sensors in high-end applications and the significant initial investment required for calibration and maintenance of these systems. Despite these challenges, there are substantial opportunities for the market players such as the evolution of new force and torque measurement technologies and the growing adoption of automation across various industries.

Access full report @ https://www.marketresearchfuture.com/reports/force-torque-sensor-market-26784

Segment Analysis

Based on Type, the global Force & Torque Sensor market has been segmented into Force Sensors and Torque Sensors. Force Sensors has been further bifurcated into Optical Force Sensor, Piezo-Resistive Force Sensor, Piezo-Electric Force Sensor, Capacitive Force Sensor, Magnetic Force Sensor, Ultrasonic Force Sensor, Electrochemical Force Sensor, Load Cell Sensor, and Others. Also, the Torque Sensor are further divided into Dynamic Torque Sensor, Joint Torque Sensor, 6 axis force/torque sensor, 4 Axis force/torque sensor, Static Torque Sensor, and others.

Force sensors measure mechanical force, converting it to electrical signals. The sensor's output signal varies with applied force type. Industries like automotive, manufacturing, aerospace, and robotics rely on precise load measurement.

Owing to their accuracy, force sensors have become important in many industries. Some of the sectors that rely on high-precision load measurement include automotive, high-precision manufacturing, aerospace and defense, industrial automation, medical and pharmaceuticals, and robotics. The design and development of force sensors are continuously evolving. With the current advancements in cobots and surgical robotics, many innovative force measurement applications are emerging, requiring ever more sophisticated force measurement solutions.

Based on Technology, the global Force & Torque Sensor market has been segmented into Force Sensor technology and Torque Sensor technology. Force Sensor technology is further divided into Strain Gauge, Thin-Film Sensors, and Hydraulic Force Measurement. Torque Sensor technology includes Surface Acoustic Wave, Magnetoelastic, Optical, and Strain Gauge.

Based on Application the global Force & Torque Sensor market has been segmented into Force sensor applications and Torque sensor applications. Force sensor applications have been further classified as Traffic Engineering, Process Monitoring, Biomedical, Condition Monitoring, Measuring Equipment, and Others. Also, the Torque sensor Applications have been divided into Robotics, Engines, Automotive safety system, Assembly welding, Aircraft flight control, medical devices, and Others.

Regional Analysis

Based on Region, the global HDR (High Dynamic Range) Video Camera is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.

The Force & Torque Sensor market in the APAC region is witnessing significant growth and development, with key countries such as China, Japan, South Korea, India, and the rest of APAC at the forefront of this transformation. The Asia-Pacific region has been one of the leading markets experiencing rapid growth in Force & Torque sensors market. The Asia pacific region have huge demand from the manufacturing and automotive sectors. The countries such as China and India have large population along with growing disposable income which drive sectors such as manufacturing and automotive sector in the region. The rapid deployment of industrial robots in the region is also creating necessary thrusts for the growth of the Force & Torque sensors market in the region.

According to the Robotic Federation, out of all the deployments of Industrial Robots, 73% of all newly deployed robots were installed in Asia. China is by far the world´s largest market. In 2022, annual installations of 290,258 units replaced the previous record of 2021 by growth of 5%. Thus, to serve this dynamic market, domestic and international robot suppliers have established production plants in China and continuously increased capacity. Also, robot installations in Japan were up by 9% to 50,413 units, exceeding the pre-pandemic level of 49,908 units in 2019. Japan is the world´s predominant robot manufacturing country with a market share of 46% of the global robot production. The Republic of Korea remains the fourth largest robot market in the world, following the United States, Japan, and China. All these data combined indicates the rapid adoption of automation in the Asia-pacific region which is the key driving force for the growth of the market.

Also, the growth of the market is attributed to booming hybrid and electric vehicles market which creates substantial demand for the Force & Torque sensors in the market. For instance, according to International Energy Agency, in 2023, just under 60% of new electric car registrations were in the People’s Republic of China. In China, the number of new electric car registrations reached 8.1 million in 2023, increasing by 35% relative to 2022

North America Is a home to some of the key players which are working in the Global force & Torque Market. For instance, ATI Industrial Automation, OMEGA Engineering, Instron, Futek Advanced Sensor Technologies Inc, and Honeywell are headquartered in the USA. Also, SensorData Technologies Inc. is headquartered in Canada. These players are instrumental in driving the demand as they deploy various startegies in the market such as acquisitions, mergers and launch of new and innovative products to gain competitive edge among other market players.

The European Force & Torque Sensor has been showing remarkable growth in the demand of the Force & Torque sensors. There is growing demand for automated driving vehicles and market players have been actively partnering to boost it further. For instance, September 2023, rFpro, a key partner in UK’s automotive technology sector, secured USD 19.8 million funding through two projects under the CCAV's CCAMSC competition. The first project, Sim4CAMSens, led by Claytex and including rFpro is aimed to enhance Automated Driving System (ADS) sensor simulation accuracy. It will develop advanced sensor models and evaluation frameworks to expedite ADS development. The second project, DeepSafe is led by dRISK.ai with rFpro is focused on creating synthetic training data for self-driving vehicles to handle rare driving scenarios. These initiatives support UK’s goal of becoming a leader in Connected and Automated Mobility, fostering innovation and economic growth.

Key Findings of the Study

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  Force and torque sensors are essential in various industries due to technological advancements and increased automation needs.

  
  


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  Major manufacturers include ABB, Tekscan, Kistler Group, FUTEK, ATI Industrial Automation, and Sensor Technology Ltd.

  
  


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  Torque sensors dominate, with dynamic torque sensors leading in market share and growth projections.

  
  


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  By 2023, torque type sensors were valued at USD 7,708.7 million, with dynamic torque sensors at USD 3,014.1 million.

  
  


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  Strain gauge sensor technology in torque sensors held the largest market share at USD 2,998.7 million in 2023, growing at a CAGR of 13.4%.

  
  


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  Automotive vertical accounted for the largest market share in 2023 at USD 2,515.7 million, projected to grow at a CAGR of 13.1%.

  
  


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  Asia-Pacific dominates the global Force & Torque Sensor market, driven by rapid industrial robot deployment, particularly in China, Japan, and South Korea.

  
  


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  North America hosts key players like ATI Industrial Automation and Honeywell, driving market growth through innovation and strategic expansions.