Global Automotive Torque Sensor Market 2024–2033

Reports Description

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.

Torque Sensor Specification

Source: According to CMI Market Research Team Analysis

The Automotive Torque Sensor market encompasses the production and distribution of sensors that measure torque applied to rotating or non-rotating systems within vehicles. These sensors enable accurate monitoring of power distribution, steering control, and safety systems, enhancing overall vehicle performance and efficiency.

The market involves various sensor types, applications, and mechanical configurations tailored to meet diverse automotive needs, spanning powertrains, safety systems, and industrial automation. Current trends include the integration of torque sensors in electric and autonomous vehicles, aligning with sustainability and advanced control requirements, while continuous innovation drives sensor accuracy, connectivity, and data-driven vehicle enhancements.

Automotive Torque Sensor Market – Significant Growth Factors

The Automotive Torque Sensor Market presents significant growth opportunities due to several factors:

• Electrification Revolution: The shift towards electric and hybrid vehicles demands accurate torque measurement for efficient power distribution, compelling the adoption of torque sensors to optimize performance and ensure optimal energy usage.

• Safety and Autonomous Driving: The rise of autonomous and semi-autonomous vehicles necessitates precise torque measurement for advanced driver assistance systems (ADAS), enhancing vehicle safety, and stability control, and enabling smooth transitions between manual and autonomous modes.

• Stringent Emission Regulations: Tightening emissions regulations drive automakers to enhance engine efficiency. Torque sensors play a pivotal role by providing real-time data to optimize power management and reduce carbon emissions.

• Industrial Automation: Beyond vehicles, industrial automation and robotics rely on torque sensors for precise control. As industries embrace automation for efficiency, the demand for accurate torque measurement sensors increases.

• Connected Vehicles: The trend towards connected vehicles offers an opportunity to integrate torque sensors into data exchange systems. Real-time monitoring, predictive maintenance, and enhanced vehicle performance contribute to the growth of torque sensor adoption.

• Electrification Innovations: As electric and hybrid vehicle technology evolves, opportunities arise to develop specialized torque sensors that cater to the unique power distribution and control requirements of these vehicles, fostering innovation and market expansion.

• Enhanced Vehicle Performance: Automotive manufacturers are continuously striving to enhance vehicle performance and driving experience. Torque sensors play a crucial role in optimizing power delivery, enabling smoother acceleration, improved handling, and better overall performance, which aligns with consumer expectations for a superior driving experience.

Automotive Torque Sensor Market – Mergers and Acquisitions

The Automotive Torque Sensor Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Automotive Torque Sensor Market include:

• TE Connectivity completes acquisition of Kissling Group: In 2019, With this acquisition, TE further expanded its portfolio of specialty relays and switches to support the needs of industrial and commercial transportation customers – truck, bus, construction and other specialized vehicle manufacturers, facing evolving high voltage and power management requirements as they design next-generation vehicles.

• Honeywell International Inc. Acquires Ballard Unmanned Systems: In 2020, Honeywell acquired Ballard Unmanned Systems, a pioneer in hydrogen fuel cell technology. This acquisition bolstered Honeywell’s capabilities in alternative power sources for vehicles, influencing torque sensor applications. Honeywell is acquiring the key intellectual property, inventory and equipment of Ballard Unmanned Systems. Ballard’s team of fuel-cell experts will also join Honeywell as part of the acquisition.

• Infineon Technologies AG Acquires Cypress Semiconductor Corporation: In 2020, Infineon acquired Cypress Semiconductor, adding innovative connectivity and IoT technologies to its portfolio, which potentially influences torque sensor integration with advanced vehicle connectivity systems. The acquisition of Cypress is a landmark step in Infineon’s strategic development.

• Allegro MicroSystems and Mouser Electronics: In 2022, Allegro MicroSystems will announce a new distribution partnership with Mouser Electronics. Mouser specializes in the rapid introduction of the newest products and technologies targeting the design engineer and buyer communities. With 27 offices located around the globe, Mouser conducts business in 21 different languages and 34 currencies across 223 countries.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Automotive Torque Sensor Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Automotive Torque Sensor Market – Significant Threats

The Automotive Torque Sensor Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

• Technological Complexity and Reliability: The increasing complexity of torque sensor technology poses a threat in terms of reliability and maintenance. Ensuring accurate and durable measurements across various applications can be challenging, potentially impacting overall system effectiveness.

• Economic Uncertainties: Fluctuations in the global economy can lead to reduced consumer spending on vehicles, affecting the demand for torque sensors. Economic downturns may result in delayed vehicle purchases, leading to lower production and subsequently impacting the market.

• Intense Competitive Landscape: The market’s attractiveness has led to the proliferation of torque sensor manufacturers, intensifying competition. This competition may lead to pricing pressures and a focus on innovation to stand out, which could impact profit margins.

• Supply Chain Disruptions: The global supply chain’s vulnerability, as seen during events like the COVID-19 pandemic, highlights potential threats to manufacturing and component availability. Disruptions can lead to production delays and challenges in meeting market demand.

• Regulatory Changes and Standards: Evolving regulations and standards in the automotive industry can present challenges for torque sensor manufacturers. Adapting to new compliance requirements demands investment in research and development to ensure sensors meet changing industry guidelines, potentially impacting costs, and time-to-market.

Report Scope

Category-Wise Insights

By Type

• Rotary Torque Sensors: Rotary torque sensors measure torque in rotating systems. They are widely used in applications like engine testing, drivetrain analysis, and powertrain development. These sensors provide accurate data on rotational forces, enabling precise control and optimization of vehicle performance.

• Reaction Torque Sensors: Reaction torque sensors measure torque in non-rotating systems. They find use in brake testing, steering analysis, and suspension development, providing insights into static and dynamic forces influencing vehicle behaviour.

By Vehicle

• Passenger Vehicles: Torque sensors, integral to passenger vehicles, measure torque for optimal power distribution, safety enhancements, and improved vehicle dynamics. Trends reveal a rising integration of torque sensors in electric and hybrid vehicles, optimizing energy usage, and aligning with the growing demand for advanced driver assistance systems (ADAS) in the passenger vehicle segment.

• Commercial Vehicles: In commercial vehicles, torque sensors play a pivotal role in optimizing engine efficiency, ensuring safe handling, and enhancing vehicle longevity. Trend-wise, the commercial vehicle sector sees an increasing adoption of torque sensors to support eco-friendly operations in hybrid or electric commercial vehicles, as well as to enhance overall safety and manoeuvrability through advanced sensor technologies.

By Mechanical Configuration

• In-Line Torque Sensors: In the Automotive Torque Sensor market, in-line torque sensors are integrated components directly embedded within mechanical assemblies. These sensors accurately measure torque at specific points within the system, facilitating real-time data collection for power distribution optimization, safety system enhancement, and improved vehicle dynamics.

• Flange Torque Sensors: Flange torque sensors are externally affixed to components, capturing torque transfer data through the component. In the Automotive Torque Sensor landscape, these sensors play a crucial role in monitoring power distribution, steering control, and safety systems.

• Rotary Torque Sensors: Within the realm of Automotive Torque Sensors, rotary torque sensors are pivotal in measuring torque applied to rotating shafts, found in engines and drivetrains. Ongoing trends in this sector focus on improving sensor accuracy, integrating data with advanced control algorithms, and enhancing the efficiency of internal combustion engines as well as electric powertrains.

• Reaction Torque Sensors: Reaction torque sensors, paramount for brake and suspension analysis, measure the reaction force resulting from applied loads. In the dynamic Automotive Torque Sensor market, these sensors play a critical role in ensuring safe braking and optimal suspension systems.

Automotive Torque Sensor Market – Regional Analysis

The Automotive Torque Sensor Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

• North America: In North America’s Automotive Torque Sensor market, a significant trend involves the increasing adoption of torque sensors in autonomous vehicles. The region’s focus on advanced driver assistance systems (ADAS) aligns with torque sensors’ role in enhancing vehicle control and safety. Moreover, the trend of incorporating torque sensors into electric and hybrid powertrains reinforces the region’s commitment to sustainability and efficient mobility solutions.

• Europe: Europe’s Automotive Torque Sensor market showcases a strong trend towards stringent emission regulations. As the continent intensifies efforts to curb carbon emissions, torque sensors play a vital role in optimizing engine efficiency and fuel consumption. Additionally, the integration of torque sensors with connectivity and IoT technologies addresses the region’s emphasis on vehicle connectivity, contributing to enhanced performance and data-driven insights.

• Asia-Pacific: The Asia-Pacific Automotive Torque Sensor market witnessed a notable trend of robust growth in electric vehicle (EV) adoption. With governments promoting EVs and investing in charging infrastructure, torque sensors are crucial for EV powertrain optimization. This region also experiences an upswing in industrial automation, driving demand for torque sensors in robotics and machinery, aligning with Asia-Pacific’s growing manufacturing sector.

• Latin America, Middle East, and Africa (LAMEA): In the LAMEA Automotive Torque Sensor market, a trend revolves around the increasing demand for safety systems. As this region witness rising vehicle sales and urbanization, torque sensors contribute to stability control, anti-lock braking, and other safety applications. Moreover, the trend of localized manufacturing and assembly plants fosters torque sensor adoption in vehicles produced within the region, driving market growth.

Competitive Landscape – Automotive Torque Sensor Market

The Automotive Torque Sensor Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

• 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

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

Emerging players entered the Automotive Torque Sensor market with innovative sensor technologies that optimize power distribution, enhance vehicle safety, and contribute to sustainability. These newcomers focus on advanced materials, precision engineering, and seamless integration with modern powertrains, capturing attention with their fresh approach to torque sensing technology.

Established market dominators like Honeywell International Inc. and Bosch Automotive Service Solutions Inc. hold substantial influence. Honeywell’s extensive experience and expertise in automotive sensors make it a formidable force. Similarly, Bosch’s reputation for innovation and widespread adoption within the automotive industry solidifies its dominance.

These key players maintain their status through continuous advancements, strategic collaborations, and comprehensive sensor solutions, reinforcing their leading position in the competitive Automotive Torque Sensor market.

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