Global Automotive Torque Sensor Market Size Likely to Grow at a CAGR of 6.1% By 2033

As per the current market research conducted by the CMI Team, the global Automotive Torque Sensor Market is expected to record a CAGR of 6.1% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 2.3 billion. By 2032, the valuation is anticipated to reach USD 4.6 billion.

Automotive Torque Sensor Market: Growth Factors and Dynamics

• Rising Demand for Electric and Hybrid Vehicles: The accelerating transition towards electric and hybrid vehicles in response to environmental concerns and energy efficiency requirements has amplified the need for precise torque measurement. This demand arises from the necessity to ensure optimal power distribution and control within these vehicles, underscoring the critical role of torque sensors in elevating overall vehicle performance and facilitating the broader adoption of sustainable transportation solutions.

• Stringent Emission Regulations: The automotive industry faces increasingly stringent emissions regulations, compelling manufacturers to adopt innovative strategies to curb carbon emissions. Torque sensors play a pivotal role by furnishing real-time data that enables automakers to fine-tune engine efficiency and power management.

• Growing Emphasis on Vehicle Safety: Torque sensors play a crucial role in advanced driver assistance systems (ADAS) by providing inputs for functions like stability control and anti-lock braking systems, contributing to enhanced vehicle safety.

• Industrial Automation and Robotics: Beyond automotive applications, the expansion of industrial automation and robotics relies on precise torque measurements for machinery control, boosting the demand for torque sensors across various sectors.

• Integration with Connectivity and IoT: The trend towards connected vehicles integrates torque sensors into data exchange systems, enabling real-time monitoring and predictive maintenance, further enhancing vehicle performance and safety.

• Advancements in Sensor Technology: Innovations in sensor technology drive the market, as more accurate and reliable torque sensors are developed. This advancement ensures optimal power management, responsiveness, and overall vehicle efficiency.

• Focus on Energy Efficiency: With a global push towards energy-efficient transportation, torque sensors are pivotal in optimizing powertrain efficiency and ensuring minimal energy wastage, aligning with sustainability goals and driving their adoption.

• Increasing Adoption of Autonomous Vehicles: As autonomous vehicles become a reality, accurate torque sensors contribute to safe and smooth vehicle control. These sensors provide essential data for managing propulsion and steering, supporting the transition to autonomous mobility solutions.

Automotive Torque Sensor Market: Partnership and Acquisitions

• Allegro MicroSystems Acquires Crocus Technology: In 2023, Allegro MicroSystems (Nasdaq: ALGM), a Manchester, NH-based global leader in sensing semiconductor technology for motion control and energy efficient systems, acquired Crocus Technology, a Milpitas, CA-based company which specializes in advanced Tunnel Magnetoresistance (“TMR”) sensor technology, for $420M.

• TE Connectivity Ltd. Acquires Silicon Microstructures, Inc.: In 2019, TE Connectivity acquired Silicon Microstructures, expanding its sensor portfolio and strengthening its position in providing advanced sensing solutions, including torque sensors. SMI’s micro-electro-mechanical systems (MEMS) sensor technology design and manufacturing capabilities, with TE’s operational scale, customer base and existing sensor technologies into a more comprehensive global sensing solutions offering for customers.

Report Scope

Automotive Torque Sensor Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the Automotive Torque Sensor Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Disrupted Supply Chains: The pandemic led to disruptions in global supply chains, affecting the production and availability of torque sensor components. This resulted in manufacturing delays and challenges in meeting market demand.

• Reduced Vehicle Production: Economic uncertainties and lockdowns led to decreased consumer spending and reduced vehicle production. As torque sensors are integral to vehicle systems, the diminished vehicle output directly impacted the demand for these sensors.

• Supply Chain Resilience: With the gradual improvement of the pandemic situation, efforts have been made to strengthen supply chains. This ensures more consistent production and availability of torque sensor components, aiding in the market’s recovery.

• Ramp-Up in Vehicle Production: As economies recover and restrictions ease, vehicle production and sales are rebounding. The increased demand for vehicles subsequently drives the need for torque sensors, contributing to market recovery.

• Focus on Electrification: The continued shift towards electric vehicles (EVs) provides an opportunity for torque sensor market recovery. EVs require precise torque measurement for optimal power distribution, offering a significant avenue for sensor adoption.

• Technology Advancements: The automotive industry’s continuous focus on innovation drives the integration of torque sensors into newer, more advanced systems. As vehicles evolve with enhanced powertrains and connectivity features, the demand for accurate torque measurement sensors surges, supporting the market’s recovery.

• Resurgence of Industrial Sectors: Industries such as manufacturing and robotics, which also rely on torque sensors, have shown signs of recovery post-pandemic. This resurgence contributes to the rebound of the torque sensor market as demand for automation and control technologies increases.

• Government Stimulus for Electric Mobility: Government incentives to promote electric mobility stimulate demand for electric vehicles. As torque sensors are essential for optimizing power distribution in EVs, their adoption is further bolstered, aiding the market’s revival.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Automotive Torque Sensor Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Automotive Torque Sensor Market:

• Honeywell International Inc.
• Bosch Automotive Service Solutions Inc.
• TE Connectivity Ltd.
• A&D Company Limited
• Kistler Group
• Futek Advanced Sensor Technology Inc.
• Infineon Technologies AG
• Vishay Intertechnology Inc.
• Allegro MicroSystems LLC
• Kavlico Corporation
• Others

The Automotive Torque Sensor Market is segmented as follows:

By Type

• Rotary Torque Sensors
• Reaction Torque Sensors

By Vehicle Type

• Passenger Vehicles
• Commercial Vehicles

By Mechanical Configuration

• In-Line Torque Sensors
• Flange Torque Sensors
• Rotary Torque Sensors
• Reaction Torque Sensors

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America