Global Torque Sensor Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
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“Global Torque Sensor Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global torque sensor market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global torque sensor market report has been segmented on the basis of type, technology, application, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Torque sensors are also known as torque transducer. It is type of device used to measure and record torque of rotor, crankshaft, engine, etc. by conversion of a torsional mechanical input into an electrical output signal torque sensor measures provides the output. Commonly, torque transducer uses bonded strain gauge technology for measurement. Test duration, environment in which the measurement is taking place, speed of rotation, information required of the measurement being taken, and mechanical connections are some of factors that can affect measurement taken by torque sensor.
Growing use of torque sensors in automotive sector, coupled with increasing demand for high performance cars are major factor driving growth of the global torque sensor market. There are various types of torque sensors are available in the market such as reaction torque sensors, slip ring-style torque sensor, clamp-on style torque sensors, analog telemetry torque sensor, digital telemetry torque sensor, etc. availability of various types of torque sensors for different applications and growing awareness regarding importance of torque measurement are also factors supporting growth of the global market. Furthermore, growing use of torque sensor in robotics is a factor expected to boost growth of the global torque sensor market in the near future.
However, low reliability of torque sensor is a factor that may hamper growth of the global torque sensor market. Nevertheless, introduction more advanced and reliable torque sensors can create high revenue opportunities for players in the target market.
On the basis of application, optical segment expected to witness high growth in terms of revenue in the near future. optical sensor is electrically passive and has high sensitivity is a factor supporting growth of this segment in the target market.
Market in Asia Pacific accounts for major share in terms of revenue and is expected to maintain its position over the forecast period. Growing automotive sector and increasing production of light vehicles are factors propelling growth of the target market in Asia Pacific region. In addition, increasing number of electronic production companies in countries such as China, India, Japan, and Taiwan in this region is another factor supporting growth of the target market over the forecast period. Growing adoption of automation in industrial sector is another factor anticipated to fuel growth of the torque sensor market in Asia Pacific region. Market in Europe expected to account for lucrative growth in terms of revenue over the forecast period, owing to increasing production of electric and hybrid vehicles in countries in this region.
Global Torque Sensor Market Segmentation:
Segmentation by type:
- Reaction Torque Sensor
- Rotary Torque Sensor
Segmentation by technology:
- Strain Gauge
- Surface Acoustic Wave (SAW)
Segmentation by application:
- Aerospace and Defense
- Test and Measurement
- Others (include Medical, Agriculture, and Mining)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- ABB Ltd.
- Crane Electronics Limited
- FUTEK Advanced Sensor Technology, Inc.
- Applied Measurements Ltd.
- Honeywell International Inc.
- Kistler Holding AG
- Sensor Technology Ltd.
- Hottinger Baldwin Messtechnik GmbH
- Norbar Torque Tools Ltd.
- Infineon Technologies AG
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