Torque Measuring Shafts Market was valued at USD 1.25 Billion in 2022 and is projected to reach USD 2.10 Billion by 2030, growing at a CAGR of 8.5% from 2024 to 2030.
The global torque measuring shafts market is experiencing steady growth due to increasing demands for torque measurement solutions in various industries. These tools are critical for applications that require precise measurements of rotational force and torque in machinery, vehicles, and manufacturing processes. As of 2024, the market is valued at approximately USD 2.5 billion and is projected to grow at a compound annual growth rate CAGR of 7% over the next 5–10 years, reaching an estimated value of USD 4.7 billion by 2030.
The growth of the market can be attributed to advancements in sensor technologies, the expansion of industrial automation, and the increasing demand for accuracy in measuring tools. Technologies such as strain gauges, optical sensors, and rotary torque sensors have brought innovation in providing more accurate and reliable measurements. Additionally, the rise of smart manufacturing practices and the integration of IoT Internet of Things in torque measurement systems have further enhanced the growth prospects for torque measuring shafts.
With industries increasingly relying on automated systems for quality control and precision testing, the torque measuring shaft market stands to benefit from these ongoing industrial trends. Another notable factor is the growing awareness of equipment reliability and the need to reduce maintenance costs through continuous monitoring systems.
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Industrial Automation: As industrial automation continues to expand, there is a heightened demand for torque measurement systems that provide accurate, real time data for machines, vehicles, and manufacturing systems.
Technological Advancements: The development of digital torque transducers, wireless technology, and sensors integrated with data analytics is leading to better efficiency, which is contributing to market growth.
Increase in Demand for Quality Control: Precision and accuracy are integral for ensuring quality across a variety of industries. Torque measurement ensures that machinery works under optimal conditions, promoting long term operational efficiency and reducing downtime.
High Initial Investment: Advanced torque measuring shafts often come with significant upfront costs. Smaller companies or budget sensitive industries may hesitate to adopt these technologies due to the financial barriers involved.
Technological Complexity: The complexity of modern torque measurement tools can be a challenge for operators who may lack specialized knowledge. This complicates installation, maintenance, and operation, especially in developing regions.
Smart Manufacturing Integration: As industries shift toward Industry 4.0, torque measurement systems are poised to integrate more with AI, IoT, and machine learning technologies, opening new doors for automation, data analytics, and predictive maintenance.
Growing Demand in Renewable Energy: Torque measurement systems are vital for the optimization of turbines in wind energy and other renewable resources. This presents a burgeoning area for growth as the world shifts towards greener alternatives.
Expanding Automotive Industry: With increased demand for electric vehicles EVs and more intricate testing procedures, automotive manufacturers are seeking advanced torque measurement technologies to meet quality and reliability standards.
Automotive Industry: Torque measurement is essential in ensuring the reliability of various automotive components, including engines, electric motors, and drivetrains. Torque measuring shafts are critical in the production and testing of automotive systems, contributing significantly to market demand.
Industrial Machinery: Torque measuring systems are extensively used in industrial machinery applications to prevent damage, verify correct functionality, and ensure machinery efficiency.
Energy Generation: The wind turbine industry, which relies on torque measurements to gauge turbine efficiency, is witnessing steady growth. Torque measuring shafts play a pivotal role in monitoring turbine rotational force.
Aerospace: Precision measurement in aerospace manufacturing and testing processes, such as in engines and control systems, creates high demand for advanced torque measurement technologies.
Oil & Gas: The oil and gas industry uses torque measurement for drilling and pipe testing operations. The need for corrosion resistance and durability in hazardous environments drives product innovation.
Consumer Electronics: In the growing electronics sector, torque measurement shafts are used for component testing, including screw tightening, assembly lines, and robotic functions.
North America: The North American market, driven by demand from the automotive, aerospace, and energy sectors, is one of the largest consumers of torque measuring technologies.
Asia Pacific: The Asia Pacific region is experiencing significant growth, driven by the expansion of manufacturing and automotive industries in countries like China and India.
Europe: As a leader in industrial automation and energy technology, Europe is expected to remain a key player in the global torque measuring shafts market.
Honeywell International Inc. One of the major players, offering a wide range of torque measurement tools that serve various applications, including industrial manufacturing, energy production, and automotive testing.
Kistler Group Known for providing precision measurement systems and sensors, Kistler is a market leader offering state of the art torque sensors, data acquisition systems, and solutions for industrial optimization.
FUTEK Advanced Sensor Technology, Inc. FUTEK is recognized for its focus on advanced torque sensors used in precision engineering applications. The company innovates with high quality solutions that deliver accurate results for both high and low torque measurement needs.
StrainSense This company designs, manufactures, and distributes torque sensors used across a wide range of industries including automotive and aerospace. Their product offerings are highly customizable to meet specific measurement needs.
Wireless Torque Measurement: With the growing emphasis on automation, many torque measuring devices now feature wireless communication capabilities. These wireless solutions enable real time monitoring and more flexible integration into automated production lines.
Digital Sensors and IoT Integration: The advent of digital torque sensors integrated with IoT technology is changing how torque data is captured, analyzed, and utilized in industries like automotive and aerospace.
Miniaturization of Sensors: As industries demand smaller and more compact solutions, manufacturers are focusing on miniaturizing torque measuring shafts without compromising on precision and reliability.
Artificial Intelligence and Machine Learning: AI based torque monitoring systems are revolutionizing the industry by allowing predictive maintenance and anomaly detection, further enhancing operational efficiency.
Supply Chain Issues: The global supply chain disruptions, exacerbated by geopolitical tensions and the COVID 19 pandemic, have affected raw material availability and caused delays in product deliveries. These disruptions can affect lead times and product costs.
Pricing Pressures: High product costs, particularly for advanced digital and wireless torque measurement solutions, may deter small and mid sized enterprises from adopting cutting edge technology.
Regulatory Barriers: Stringent regulations regarding safety and accuracy, particularly in sensitive industries such as aerospace, medical, and energy, may present barriers to entry for some manufacturers.
Improved supply chain strategies and strategic partnerships with local suppliers to ensure raw material availability can help reduce production delays.
Reducing the cost of advanced torque measurement devices through innovation in manufacturing processes, as well as investing in standardization efforts to drive down component costs.
Collaboration with regulatory bodies and investment in compliance processes can ensure that market players adhere to industry standards while remaining competitive.
The future of the torque measuring shafts market is bright, with continued advancements in technology driving growth. The global market is likely to be characterized by increased automation and the integration of IoT and AI powered solutions for real time torque measurement. Industries like automotive, aerospace, and energy will remain key drivers of market growth, while emerging trends like 5G connectivity and industry specific automation solutions will enhance product adoption in many verticals.
Which regions are leading the torque measuring shafts market?
North America, Europe, and the Asia Pacific region are leading the market due to their strong industrial bases and advanced manufacturing capabilities.
What are the primary applications of torque measuring shafts?
Torque measurement systems are primarily used in the automotive, aerospace, energy, and industrial machinery sectors to ensure equipment reliability and improve operational efficiency.
What are the main challenges facing the market?
Challenges include supply chain issues, high pricing pressures, and meeting regulatory standards, which can limit product accessibility for some businesses.
Who are the major players in the market?
The key players include Honeywell International Inc., Kistler Group, FUTEK, and StrainSense, all of which offer advanced torque measurement systems for a variety of applications.
What is the future outlook of the market?
The torque measuring shafts market is expected to witness robust growth, driven by advancements in wireless technology, smart manufacturing integration, and increasing demands from automotive, aerospace, and renewable energy sectors.
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KTR
Kistler
HBM (Spectris)
ATESTEO
MANNER Sensortelemetrie
Omega
Octogon
KYOWA ELECTRONIC INSTRUMENTS
KA Sensors
TERCO
MagCanica
Datum
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Torque Measuring Shafts Market
Marine
Automotive
Aerospace Engineering
Others
Based on Types the Market is categorized into Below types that held the largest Torque Measuring Shafts market share In 2023.
Dual Range
Single Range
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Torque Measuring Shafts Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Torque Measuring Shafts Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Torque Measuring Shafts Market, By Type
6. Global Torque Measuring Shafts Market, By Application
7. Global Torque Measuring Shafts Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Torque Measuring Shafts Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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