South Korea Torque Sensor Market size was valued at US$ 56.3 million in 2024 and is projected to reach US$ 79.8 million by 2030, at a CAGR of 6.0% during the forecast period 2024-2030.

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Devices that measure and monitor rotational force in various mechanical systems, crucial for applications in automotive, industrial machinery, and robotics for efficiency and control.

The South Korean Torque Sensor market is growing steadily, supported by the country's strong automotive and machinery manufacturing sectors. South Korea's machinery and equipment manufacturing industry, valued at $170 billion in 2023, drives demand for precision measurement technologies. Key trends include the development of non-contact torque sensors for improved reliability, integration of torque sensors in electric vehicle powertrains, and adoption of smart torque sensors with IoT connectivity for real-time monitoring. The market faces challenges from competition with traditional torque measurement methods and the need for high accuracy in diverse operating conditions. Opportunities lie in creating miniaturized torque sensors for small electric motors and developing specialized sensors for renewable energy applications like wind turbines. With South Korea being the world's fifth-largest auto exporter, shipping 2.5 million vehicles in 2023, there's significant demand for torque sensors in automotive testing and production. The market aligns with South Korea's focus on electric vehicles, with the government aiming for 33% of new car sales to be electric by 2030, driving innovation in EV powertrain technologies including advanced torque sensing.

This report contains market size and forecasts of Torque Sensor in South Korea, including the following market information:
•    South Korea Torque Sensor Market Revenue, 2019-2024, 2024-2030, ($ millions)
•    South Korea Torque Sensor Market Sales, 2019-2024, 2024-2030,
•    South Korea Top five Torque Sensor companies in 2023 (%)

Report Includes

This report presents an overview of South Korea market for Torque Sensor , sales, revenue and price. Analyses of the South Korea market trends, with historic market revenue/sales data for 2019 - 2023, estimates for 2024, and projections of CAGR through 2030.

This report focuses on the Torque Sensor sales, revenue, market share and industry ranking of main manufacturers, data from 2019 to 2024. Identification of the major stakeholders in the South Korea Torque Sensor market, and analysis of their competitive landscape and market positioning based on recent developments and segmental revenues.

This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.

This report analyzes the segments data by Type, and by Sales Channels, sales, revenue, and price, from 2019 to 2030. Evaluation and forecast the market size for Humidifier sales, projected growth trends, production technology, sales channels and end-user industry.

Segment by Type

•    Capacitive Torque Sensor
•    Strain Gauge Torque Sensor
•    Others

Segment by Applications

•    Robotics & Industrial
•    Automotive
•    Aerospace & Defense
•    Medical
•    Others

Key Companies covered in this report:

•    Kyowa Electronic Instruments Co., Ltd.
•    TE Connectivity
•    Honeywell International Inc.
•    Kistler Group
•    Hottinger Baldwin Messtechnik GmbH (HBM)
•    FUTEK Advanced Sensor Technology, Inc.
•    Sensor Technology Ltd.
•    Interface, Inc.
•    Datum Electronics Ltd.
•    MagCanica, Inc.

Including or excluding key companies relevant to your analysis.

Competitor Analysis

The report also provides analysis of leading market participants including:
•    Key companies Torque Sensor revenues in South Korean market, 2019-2024 (Estimated), ($ millions)
•    Key companies Torque Sensor revenues share in South Korean market, 2023 (%)
•    Key companies Torque Sensor sales in South Korean market, 2019-2024 (Estimated),
•    Key companies Torque Sensor sales share in South Korean market, 2023 (%)

1. Drivers:

  • Growing Automotive Industry and Shift to Electric Vehicles (EVs): South Korea's robust automotive sector is a key driver for the torque sensor market, especially with the increasing demand for electric vehicles (EVs). Torque sensors play a critical role in enhancing vehicle performance by optimizing power output, improving fuel efficiency, and supporting advanced safety systems like electric power steering (EPS). As EV adoption rises, driven by environmental regulations and government incentives, the demand for precise torque sensors in automotive applications is expected to grow rapidly.
  • Expansion of Industrial Automation and Robotics: The rise of industrial automation and robotics in South Korea is another significant factor driving the torque sensor market. Manufacturing sectors are increasingly adopting automated systems that require real-time torque measurement to ensure precision, efficiency, and safety in various processes. Torque sensors are essential for monitoring and controlling mechanical loads in robotic arms, assembly lines, and automated machinery, further fueling market demand.
  • Growing Emphasis on Renewable Energy: With South Korea’s commitment to reducing carbon emissions and increasing the share of renewable energy in its energy mix, torque sensors are gaining importance in applications such as wind turbines. Torque sensors are essential in monitoring and controlling the rotational force in turbine generators, ensuring efficiency and reliability in energy production. As South Korea expands its renewable energy infrastructure, especially in wind power, the torque sensor market is expected to benefit significantly.
  • Increased Adoption in Aerospace and Defense Sectors: South Korea's aerospace and defense industries have been growing, with increasing investment in advanced technology and innovation. Torque sensors are crucial in aerospace applications such as engine control systems, flight simulators, and testing equipment, where precise torque measurement is critical for safety and performance. The growth of these sectors is expected to drive further demand for advanced torque sensing solutions.
  • Rising Demand for Precision Medical Equipment: The healthcare sector in South Korea is increasingly integrating torque sensors into precision medical devices and equipment. Applications such as surgical robots, prosthetics, and rehabilitation equipment rely on accurate torque measurements to ensure patient safety and optimal performance. As the medical device industry continues to innovate, torque sensors are likely to see increased adoption in this sector.

2. Restraints:

  • High Initial Costs and Complex Integration: One of the primary restraints for the South Korean torque sensor market is the high initial costs associated with advanced torque sensing solutions. The design and development of precision torque sensors require sophisticated technology and materials, making them expensive for small and medium-sized enterprises (SMEs) to adopt. Additionally, integrating these sensors into existing systems can be technically challenging and may require specialized expertise, limiting their adoption across industries.
  • Technical Limitations in Harsh Environments: Although torque sensors offer high precision, their performance can be affected in harsh industrial environments. Factors such as extreme temperatures, vibrations, and electromagnetic interference can compromise the accuracy and durability of torque sensors. These limitations may restrict their use in applications where reliability in demanding conditions is crucial, such as heavy machinery and certain automotive and aerospace systems.
  • Competition from Low-Cost Alternatives: The South Korean torque sensor market faces competition from low-cost alternatives, particularly from international manufacturers offering less expensive, lower-quality torque measurement solutions. These alternatives, while not offering the same precision or durability, may appeal to cost-conscious buyers in industries with less stringent performance requirements, impacting the growth of high-end torque sensor solutions.
  • Limited Awareness and Adoption in SMEs: While large industries are increasingly aware of the benefits of torque sensors, there is still a lack of awareness and adoption among smaller manufacturers and industries in South Korea. SMEs often operate on tight budgets and may not fully understand the long-term cost savings and efficiency improvements that torque sensors can offer. This limited adoption in smaller industries presents a challenge to market growth.

3. Opportunities:

  • Growth in Electric and Autonomous Vehicles (EV/AV): As South Korea continues to make strides in electric and autonomous vehicle development, the torque sensor market has a significant opportunity to expand. Torque sensors are critical for vehicle systems like electric drivetrains, battery management, and autonomous steering, where precision control is necessary. As the EV and AV industries evolve, the need for advanced torque sensors in automotive applications will continue to grow.
  • Development of Smart Factories and Industry 4.0: South Korea's push toward Industry 4.0 and the development of smart factories is creating new opportunities for the torque sensor market. The implementation of real-time monitoring, predictive maintenance, and automated control systems in smart factories requires accurate torque measurement to ensure optimal performance. Torque sensors are well-positioned to play a crucial role in these smart manufacturing ecosystems, driving demand across industries.
  • Rising Focus on Energy Efficiency and Sustainability: The increasing focus on energy efficiency and sustainability in various industries, particularly in manufacturing and automotive sectors, presents significant opportunities for the torque sensor market. Torque sensors help optimize energy usage by providing real-time feedback on mechanical loads, leading to more efficient operations. As industries aim to reduce energy consumption and meet environmental regulations, the demand for torque sensors is expected to grow.
  • Advancements in Wireless and Non-Contact Torque Sensors: Ongoing research and development in wireless and non-contact torque sensor technologies present opportunities for market growth. These innovations offer advantages such as easier integration, reduced maintenance, and improved reliability, especially in applications where physical contact with the sensing element is not feasible. As these technologies mature, they are expected to gain traction in automotive, aerospace, and industrial applications, further expanding the market.
  • Expansion in Healthcare and Robotics Applications: The healthcare and robotics industries are key growth areas for torque sensors. In healthcare, torque sensors are increasingly being used in surgical robots, exoskeletons, and rehabilitation devices to provide precise force feedback and control. Similarly, in robotics, especially in collaborative robots (cobots), torque sensors are essential for enabling safe human-robot interaction. The expansion of these sectors offers promising opportunities for the torque sensor market in South Korea.

4. Challenges:

  • Technological Obsolescence and Rapid Innovation: The fast-paced nature of technological innovation in the torque sensor market presents a challenge for manufacturers to keep their products competitive. As new technologies and materials emerge, older torque sensors may quickly become obsolete, requiring companies to continuously invest in research and development. Keeping up with these rapid advancements while managing production costs can be challenging for market players.
  • Supply Chain Disruptions: Global supply chain disruptions, exacerbated by events like the COVID-19 pandemic, have affected the availability of raw materials and components needed for torque sensor production. These disruptions can lead to production delays, increased costs, and difficulties in meeting market demand. Ensuring a stable and reliable supply chain is a key challenge for manufacturers in the torque sensor market.
  • Workforce Skill Gaps: The successful implementation of advanced torque sensor technologies requires skilled professionals with expertise in sensor design, integration, and maintenance. However, there is a shortage of skilled workers in the sensor industry, particularly in areas such as robotics, aerospace, and automotive engineering. Addressing this workforce gap is essential for supporting the growth and adoption of torque sensor solutions in South Korea.
  • Price Sensitivity in Certain Industries: Some industries in South Korea, especially SMEs, may be highly price-sensitive and reluctant to invest in high-end torque sensor solutions. In such cases, companies may opt for lower-cost alternatives that provide adequate performance but lack the precision and durability of more advanced torque sensors. This price sensitivity could limit the adoption of torque sensors in industries where cost considerations outweigh the need for high accuracy.

Key Indicators Analysed
•    Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2019-2030 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
•    South Korean Market Analysis: The report includes South Korean market status and outlook 2019-2030. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.
•    Market Trends: Market key trends which include Increased Competition and Continuous Innovations.
•    Opportunities and Drivers: Identifying the Growing Demands and New Technology
•    Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

Key Benefits of This Market Research:
•    Industry drivers, restraints, and opportunities covered in the study
•    Neutral perspective on the market performance
•    Recent industry trends and developments
•    Competitive landscape & strategies of key players
•    Potential & niche segments and regions exhibiting promising growth covered
•    Historical, current, and projected market size, in terms of value
•    In-depth analysis of the Torque Sensor Market
•    Overview of the regional outlook of the Torque Sensor Market

Key Reasons to Buy this Report:

•    Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change
•    This enables you to anticipate market changes to remain ahead of your competitors
•    You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations or other strategic documents
•    The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly
•    Provision of market value (USD Billion) data for each segment and sub-segment
•    Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
•    Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
•    Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
•    Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
•    The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
•    Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis
•    Provides insight into the market through Value Chain
•    Market dynamics scenario, along with growth opportunities of the market in the years to come
•    6-month post-sales analyst support

We offer additional regional and global reports that are similar:
•    Global Torque Sensor Market
•    United States Torque Sensor Market
•    Japan Torque Sensor Market
•    Germany Torque Sensor Market
•    South Korea Torque Sensor Market
•    Indonesia Torque Sensor Market
•    Brazil Torque Sensor Market

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