Report Code: CMI29194

Published Date: August 2023

Pages: 220+

Category: Automotive

Report Snapshot

CAGR: 6.1%
2.3B
2022
2.5B
2023
4.6B
2032

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Honeywell International Inc.
  • Bosch Automotive Service Solutions Inc.
  • TE Connectivity Ltd.
  • A&D Company Limited
  • Others

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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

Type In the Automotive Torque Sensor Torque Range Accuracy Temperature Range
In-line torque sensor Strain gauge 0-1000 Nm ±0.5% -40 to 125 °C
Flange torque sensor Strain gauge 0-5000 Nm ±0.5% -40 to 125 °C
Rotary torque sensor Eddy current 0-2000 Nm ±1% -40 to 125 °C
Reaction torque sensor Piezoelectric 0-1000 Nm ±0.5% -40 to 125 °C
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 Advanced Driver Assistance Systems (ADAS) Market Used Car Market
CAGR 6.1% (Approx) CAGR 18.2% (Approx) CAGR 6.2% (Approx)
USD 4.6 Billion by 2032 USD 81.17 Billion by 2032 USD 2.72 Trillion by 2030

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

Feature of the Report Details
Market Size in 2023 USD 2.5 Billion
Projected Market Size in 2032 USD 4.6 Billion
Market Size in 2022 USD 2.3 Billion
CAGR Growth Rate 6.1% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Type, Vehicle Type, Mechanical Configuration and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

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.

Global Automotive Torque Sensor Market 2023–2032 (By Billion)

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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.

Global Automotive Torque Sensor Market 2023–2032 (By Type)

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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.

Global Automotive Torque Sensor Market 2023–2032 (By Vehicle Type)

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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

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Automotive Torque Sensor Market, (2024 – 2033) (USD Billion)
    • 2.2 Global Automotive Torque Sensor Market : snapshot
  • Chapter 3. Global Automotive Torque Sensor Market – Industry Analysis
    • 3.1 Automotive Torque Sensor Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Electrification Revolution
      • 3.2.2 Safety and Autonomous Driving
      • 3.2.3 Stringent Emission Regulations
      • 3.2.4 Industrial Automation
      • 3.2.5 Connected Vehicles
      • 3.2.6 Electrification Innovations
      • 3.2.7 Enhanced Vehicle Performance.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Vehicle Type
      • 3.7.3 Market attractiveness analysis By Mechanical Configuration
  • Chapter 4. Global Automotive Torque Sensor Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Automotive Torque Sensor Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Automotive Torque Sensor Market – Type Analysis
    • 5.1 Global Automotive Torque Sensor Market overview: By Type
      • 5.1.1 Global Automotive Torque Sensor Market share, By Type, 2022 and – 2033
    • 5.2 Rotary Torque Sensors
      • 5.2.1 Global Automotive Torque Sensor Market by Rotary Torque Sensors, 2024 – 2033 (USD Billion)
    • 5.3 Reaction Torque Sensors
      • 5.3.1 Global Automotive Torque Sensor Market by Reaction Torque Sensors, 2024 – 2033 (USD Billion)
  • Chapter 6. Global Automotive Torque Sensor Market – Vehicle Type Analysis
    • 6.1 Global Automotive Torque Sensor Market overview: By Vehicle Type
      • 6.1.1 Global Automotive Torque Sensor Market share, By Vehicle Type , 2022 and – 2033
    • 6.2 Passenger Vehicles
      • 6.2.1 Global Automotive Torque Sensor Market by Passenger Vehicles, 2024 – 2033 (USD Billion)
    • 6.3 Commercial Vehicles
      • 6.3.1 Global Automotive Torque Sensor Market by Commercial Vehicles, 2024 – 2033 (USD Billion)
  • Chapter 7. Global Automotive Torque Sensor Market – Mechanical Configuration Analysis
    • 7.1 Global Automotive Torque Sensor Market overview: By Mechanical Configuration
      • 7.1.1 Global Automotive Torque Sensor Market share, By Mechanical Configuration , 2022 and – 2033
    • 7.2 In-Line Torque Sensors
      • 7.2.1 Global Automotive Torque Sensor Market by In-Line Torque Sensors, 2024 – 2033 (USD Billion)
    • 7.3 Flange Torque Sensors
      • 7.3.1 Global Automotive Torque Sensor Market by Flange Torque Sensors, 2024 – 2033 (USD Billion)
    • 7.4 Rotary Torque Sensors
      • 7.4.1 Global Automotive Torque Sensor Market by Rotary Torque Sensors, 2024 – 2033 (USD Billion)
    • 7.5 Reaction Torque Sensors
      • 7.5.1 Global Automotive Torque Sensor Market by Reaction Torque Sensors, 2024 – 2033 (USD Billion)
  • Chapter 8. Automotive Torque Sensor Market – Regional Analysis
    • 8.1 Global Automotive Torque Sensor Market Regional Overview
    • 8.2 Global Automotive Torque Sensor Market Share, by Region, 2022 & – 2033 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Automotive Torque Sensor Market, 2024 – 2033 (USD Billion)
        • 8.3.1.1 North America Automotive Torque Sensor Market, by Country, 2024 – 2033 (USD Billion)
    • 8.4 North America Automotive Torque Sensor Market, by Type, 2024 – 2033
      • 8.4.1 North America Automotive Torque Sensor Market, by Type, 2024 – 2033 (USD Billion)
    • 8.5 North America Automotive Torque Sensor Market, by Vehicle Type , 2024 – 2033
      • 8.5.1 North America Automotive Torque Sensor Market, by Vehicle Type , 2024 – 2033 (USD Billion)
    • 8.6 North America Automotive Torque Sensor Market, by Mechanical Configuration , 2024 – 2033
      • 8.6.1 North America Automotive Torque Sensor Market, by Mechanical Configuration , 2024 – 2033 (USD Billion)
    • 8.7. Europe
      • 8.7.1 Europe Automotive Torque Sensor Market, 2024 – 2033 (USD Billion)
        • 8.7.1.1 Europe Automotive Torque Sensor Market, by Country, 2024 – 2033 (USD Billion)
    • 8.8 Europe Automotive Torque Sensor Market, by Type, 2024 – 2033
      • 8.8.1 Europe Automotive Torque Sensor Market, by Type, 2024 – 2033 (USD Billion)
    • 8.9 Europe Automotive Torque Sensor Market, by Vehicle Type , 2024 – 2033
      • 8.9.1 Europe Automotive Torque Sensor Market, by Vehicle Type , 2024 – 2033 (USD Billion)
    • 8.10 Europe Automotive Torque Sensor Market, by Mechanical Configuration , 2024 – 2033
      • 8.10.1 Europe Automotive Torque Sensor Market, by Mechanical Configuration , 2024 – 2033 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Automotive Torque Sensor Market, 2024 – 2033 (USD Billion)
        • 8.11.1.1 Asia Pacific Automotive Torque Sensor Market, by Country, 2024 – 2033 (USD Billion)
    • 8.12 Asia Pacific Automotive Torque Sensor Market, by Type, 2024 – 2033
      • 8.12.1 Asia Pacific Automotive Torque Sensor Market, by Type, 2024 – 2033 (USD Billion)
    • 8.13 Asia Pacific Automotive Torque Sensor Market, by Vehicle Type , 2024 – 2033
      • 8.13.1 Asia Pacific Automotive Torque Sensor Market, by Vehicle Type , 2024 – 2033 (USD Billion)
    • 8.14 Asia Pacific Automotive Torque Sensor Market, by Mechanical Configuration , 2024 – 2033
      • 8.14.1 Asia Pacific Automotive Torque Sensor Market, by Mechanical Configuration , 2024 – 2033 (USD Billion)
    • 8.15. Latin America
      • 8.15.1 Latin America Automotive Torque Sensor Market, 2024 – 2033 (USD Billion)
        • 8.15.1.1 Latin America Automotive Torque Sensor Market, by Country, 2024 – 2033 (USD Billion)
    • 8.16 Latin America Automotive Torque Sensor Market, by Type, 2024 – 2033
      • 8.16.1 Latin America Automotive Torque Sensor Market, by Type, 2024 – 2033 (USD Billion)
    • 8.17 Latin America Automotive Torque Sensor Market, by Vehicle Type , 2024 – 2033
      • 8.17.1 Latin America Automotive Torque Sensor Market, by Vehicle Type , 2024 – 2033 (USD Billion)
    • 8.18 Latin America Automotive Torque Sensor Market, by Mechanical Configuration , 2024 – 2033
      • 8.18.1 Latin America Automotive Torque Sensor Market, by Mechanical Configuration , 2024 – 2033 (USD Billion)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa Automotive Torque Sensor Market, 2024 – 2033 (USD Billion)
        • 8.19.1.1 The Middle-East and Africa Automotive Torque Sensor Market, by Country, 2024 – 2033 (USD Billion)
    • 8.20 The Middle-East and Africa Automotive Torque Sensor Market, by Type, 2024 – 2033
      • 8.20.1 The Middle-East and Africa Automotive Torque Sensor Market, by Type, 2024 – 2033 (USD Billion)
    • 8.21 The Middle-East and Africa Automotive Torque Sensor Market, by Vehicle Type , 2024 – 2033
      • 8.21.1 The Middle-East and Africa Automotive Torque Sensor Market, by Vehicle Type , 2024 – 2033 (USD Billion)
    • 8.22 The Middle-East and Africa Automotive Torque Sensor Market, by Mechanical Configuration , 2024 – 2033
      • 8.22.1 The Middle-East and Africa Automotive Torque Sensor Market, by Mechanical Configuration , 2024 – 2033 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Honeywell International Inc.
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Bosch Automotive Service Solutions Inc.
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 TE Connectivity Ltd.
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 A&D Company Limited
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Kistler Group
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Futek Advanced Sensor Technology Inc.
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Infineon Technologies AG
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Vishay Intertechnology Inc.
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Allegro MicroSystems LLC
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 Kavlico Corporation
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Others.
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
List Of Figures

Figures No 1 to 24

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • 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

FAQs

The key factors driving the Market are Electrification Revolution, Safety and Autonomous Driving, Stringent Emission Regulations, Industrial Automation, Connected Vehicles, Electrification Innovations And Enhanced Vehicle Performance.

The “Mechanical Configuration” category dominated the market in 2022.

The key players in the market are 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.

“North America” had the largest share in the Automotive Torque Sensor Market.

The global market is projected to grow at a CAGR of 6.1% during the forecast period, 2023-2032.

The Automotive Torque Sensor Market size was valued at USD 2.3 Billion in 2022.

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