The global torque sensors market size was valued at around USD 7 billion in 2020 and projected to grow at a significant CAGR during the forecast period 2021 to 2027. The increasing demand for accurate torque measurement in rotating machinery is a major factor to drive the market growth. Furthermore, the rising adoption of electric vehicles, up-gradation of electric power steering, and focus to provide better fuel efficiency are anticipated to boost the market growth. Moreover, the persistence needs to improve safety, control, and pilot operations, and technological advancement and integration of digital components are expected to drive the market in the near future years.
The report titled "Torque Sensors Market - Global Trends, Market Share, Industry Size, Growth, Opportunities, and Forecast - 2020 – 2027" offers a holistic view of the Torque Sensors industry encompassing numerous stakeholders including raw material suppliers, providers, distributors, consumers and government agencies, among others. Furthermore, the report includes detailed quantitative and qualitative analysis of the global Torque Sensors market considering market history, product development, regional dynamics, competitive landscape, and key success factors (KSFs) in the industry.
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The report includes a deep-dive analysis of key countries including the U.S., Canada, the U.K., Germany, France, China, Japan, India, Australia, Mexico, Brazil and South Africa, among others. Thereby, the report identifies unique growth opportunities across the world based on trends occurring in various developed and developing economies.
Torque Sensors Market report summarizes the positive growth rate in upcoming years, and market size with competitive analysis. Our experts have analyzed the historical data to compare with the current market scenario to calculate the market growth in the coming years. The study provides an exhaustive report that includes an executive summary, scope, and forecast of the market.
The Data Torque Sensors Market Segmentation:
By Type:
- Rotary Torque Sensors
- Reaction Torque Sensors
By Technology:
- Strain Gauge
- Surface Acoustic Wave (SAW)
- Optical
- Magnetoelastic
By Application:
- Automotive
- Test & Measurement
- Industrial
- Aerospace & Defense
- Others
By Region:
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East & Africa
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List of Key Companies:
- ABB Ltd.
- Crane Electronics Ltd.
- Applied Measurements Ltd.
- Honeywell International
- HBK Benelux
- Norbar Torque Tools Ltd.
- Infineon Technologies AG
- Teledyne Technologies, Inc.
- TE Connectivity Ltd.
Key Questions Answered by Torque Sensors Market Report
· Product popularity and adoption based on various country-level dynamics
· Regional presence and product development for leading market participants
· Market forecasts and trend analysis based on ongoing investments and economic growth in key countries
· Competitive landscape based on revenue, product offerings, years of presence, number of employees and market concentration, among others
· number of employees and market concentration, among others
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