A new market study, titled “Torque Sensor Market” has been featured on Market Research Future which is expected to reach a valuation of USD12.69 Billion with a CAGR of 7.82% during the forecast period (2018–2023). The market report provides a wide-ranging analysis of this industry vertical highlighting the key growth factors, opportunities and constraints expected to shape the market dynamics during the forecast period. MRFR offers in-depth industry analysis across multiple sectors. Also provides a very reliable industry analysis that can simplify market research and support investors in a variety of ways. The report also investigates the impact of the COVID-19 pandemic on the global Torque Sensor market.
The expansion of torque sensor applications is expected to spur the torque sensor market 2020. The demand for electric and hybrid vehicles is steadily increasing worldwide, which is expected to further strengthen the torque sensor market in the future. The increasing trend toward improved fuel economy and electric power steering is expected to strengthen market development in the future. However, the low reliability of high-end applications is expected to hinder the growth of the torque sensor market but increasing demand for better fuel efficiency, electric power steering and condition-based maintenance are one of the key factors influencing the growth of the torque sensor market.
The prominent key players in the torque sensor market are Applied Measurements (UK), Kistler Holding (Switzerland), Hottinger Baldwin Messtechnik (Germany), Norbar Torque Tools (UK), Sensor Technology (UK), ABB (Switzerland), Honeywell International (US), Infineon Technologies (Germany), Crane Electronics (UK), and FUTEK Advanced Sensor Technology (US).
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Segmental Analysis:
By type,
- Rotary torque sensor
- Reaction torque sensor
By technology,
- Surface acoustic wave (SAW)
- Magnetoelastic
- Optical
- Strain gauge
By application,
- Automotive
- Industrial
- test & measurement
- Aerospace & defense and others.
Regional analysis:
The geographical analysis of torque sensor market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America). Asia-Pacific is expected to dominate the torque sensor market. Countries such as china, Japan and South Korea are some of the major contributors to the market. Also, rise in industrial automation and production of light vehicles in this region is driving the torque sensor market. Furthermore, the growth of sectors such as aerospace and oil and gas in China and India is expected to propel the demand for torque sensors during the forecast period. Asia-Pacific is followed by Europe owing to the presence of automotive manufacturers in the region.
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Major Highlights of TOC Covers:
- Executive Summary
- Key Business Trends
- Regional Trends and Growth
- Product Trends
- End-use Trends
- Definition and Forecast Parameters
- Torque sensor Market Segmentation
- Torque sensor Market Landscape
- Vendor Matrix
- Company Profiles
- Business Overview
- Financial Data
- Product Landscape
- Strategic Outlook
- SWOT Analysis
- Regional Torque sensor Market Share
- Country Torque sensor Market Share
- Revenue and Sales Forecast
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