The Asia Pacific Torque Sensor Market would witness market growth of 7.8% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 4,609.4 thousand units, showcasing a growth of 18.4% (2020-2023).
Torque sensors play a crucial role in automotive applications, contributing to vehicle performance, safety, and efficiency. One key area where torque sensors are extensively used is in the automotive powertrain system. In modern vehicles, torque sensors are integrated into components like the engine, transmission, and drivetrain to monitor and control torque levels. Thus, the automotive industry in China consumed 704.47 thousand units of these sensors in 2023.
The China market dominated the Asia Pacific Torque Sensor Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,818.3 million by 2031. The Japan market is registering a CAGR of 7.1% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 8.5% during (2024 - 2031).
A significant trend is the integration of wireless connectivity and IoT capabilities into torque sensing solutions. Wireless sensors enable remote monitoring, data logging, and real-time analytics, empowering users to access torque data from anywhere and optimize performance proactively. Furthermore, IoT-enabled sensors facilitate predictive maintenance, anomaly detection, and condition monitoring, thereby enhancing equipment reliability and uptime.
With wireless connectivity, sensor data can be processed and analyzed in real time, enabling proactive optimization of equipment performance and operational efficiency. Real-time analytics capabilities allow users to gain actionable insights into torque behavior, detect potential issues or deviations from expected norms, and take corrective actions promptly. By leveraging real-time torque data, users can optimize equipment settings, adjust operational parameters, and prevent costly downtime or failures, maximizing uptime and productivity.
India’s indigenous defense manufacturing sector is expanding rapidly, with a focus on developing advanced aircraft, missiles, and other defense systems. These sensors are essential in manufacturing, ensuring precision and reliability in assembling critical aerospace and defense equipment. For instance, these sensors assemble aircraft engines, rotor systems for helicopters, and missile guidance systems. As per the data from Invest India, the Ministry of Defense has set a target of achieving a turnover of $26 Bn in aerospace and defense Manufacturing by 2025, which includes $5 Bn exports. In addition, the rising automotive sector in China has expanded the use and demand for these sensors across various applications, from manufacturing and assembly to vehicle propulsion systems and advanced driver assistance technologies. As per the data from the Ministry of Industry and Information Technology, vehicle sales in 2021 were over 26 million in China. Among these, passenger vehicles accounted for 21.48 million, reflecting a 7.1% growth compared to the previous year. Therefore, with the rising automotive and defense sectors in Asia Pacific will propel the demand for these sensors in the region.
Free Valuable Insights: The Global Torque Sensor Market is Predict to reach USD 21.8 Billion by 2031, at a CAGR of 7.6%
Based on Type, the market is segmented into Rotary Torque Sensors, and Reaction Torque Sensors. Based on Application, the market is segmented into Automotive, Aerospace & Defense, Test & Measurement, Industrial, and Others. Based on Technology, the market is segmented into Strain Gauge, Magnetoelastic, Surface Acoustic Wave, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Taiwan, Malaysia, and Rest of Asia Pacific.
By Type (Volume, Thousand Units, USD Billion, 2020-2031)
By Application (Volume, Thousand Units, USD Billion, 2020-2031)
By Technology (Volume, Thousand Units, USD Billion, 2020-2031)
By Country (Volume, Thousand Units, USD Billion, 2020-2031)
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