Torque Sensor - Global Market Outlook (2020 -2028)
According to Stratistics MRC, the Global Torque Sensor Market is accounted for $6.43 billion in 2020 and is expected to reach $11.72 billion by 2028 growing at a CAGR of 7.8% during the forecast period. Mounting importance of torque measurement and rising application of torque sensors for electric power steering (EPS) systems are the major factors propelling the market growth. However, low reliability of available torque sensors in high-end applications is hampering the market growth.
Torque sensors are devices that are utilized for determining the torque of rotating systems such as craft shifts, gearboxes, engines, etc. Torque measurement and monitoring is a significant parameter as far as all machines and engines are disturbed.
Based on the application, the automotive segment is estimated to have a lucrative growth during the forecast period. It is used for testing clutches and gearboxes, as well as measuring strain and determining the dynamic torque within an engine.
By geography, Asia Pacific is going to have a huge demand due to large-scale manufacturing and significant investments in new vehicle technologies. However, Japanese automakers are continuing to spend on research and development, especially in electrification technology.
Some of the key players profiled in the Torque Sensor Market include ABB, Kistler, Honeywell International Inc., Crane Electronics, Infineon Technologies, HBM Test and Measurement, PCB Peozotronics, Datum Electronics, Futek Advanced Sensor Technology Inc., Sensor Technology, Norbar Torque Tools, Applied Measurements Ltd, MagCanica, Inc., Teledyne Technologies Inc., TE Connectivity Ltd, Lorenz Messtechnik GmbH, ATI Industrial Automation, and Interface Advanced Force Measurement.
• Rotary Torque Sensors
• Reaction Torque Sensors
Sensor Types Covered:
• Strain Gauge
• Surface Acoustic Wave (SAW)
Mechanical Configurations Covered:
• Shaft Style
• Flange Style
Measurement Techniques Covered:
• Slip Ring
• Rotary Transformer
• Car and Shipping Power Detection
• Motor Power Detection
• Pump Power Detection
• Qualitative Inspect Branch
End Users Covered:
• Automotive & Transportation
• Test & Measurement
• Aerospace & Defense
• Medical & Healthcare
• Printing and Packaging
• Oil & Gas
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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