Latest Trending Report on Torque Sensor Market Growing Technology Trends and Business Opportunities by 2026 ...
Get Free Sample Report @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=4312721The torque sensor market is expected to grow from USD 6.8 billion in 2021 and is projected to reach USD 9.0 billion by 2026; it is expected to grow at a CAGR of 5.7% during the forecast period.
Top Key Players Profiled in the Torque Sensor Market:• ABB (Switzerland)• Crane Electronics (UK)• FUTEK Advanced Sensor Technology (US)• HBM (Germany)• Applied Measurements (UK)• Honeywell (US)• Kistler Holding (Switzerland)• Sensor Technology (UK)• Norbar Torque Too (UK)• Infineon Technologies (Germany)• Teledyne Technologies (US)• Datum Electronics (UK)• MagCanica (US)• Interface (US)• AIMCO (US)• TE Connectivity (Switzerland)• Mountz (US)• PCB Piezotronics (US)• S. Himmelstein & Company (US)• Transense Technologies (UK)• KONUX (Germany)• Monad Electronics (India)• Robotiq (Canada)• HITEC Sensor Solutions (US)• Bota Systems (Switzerland)
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“Market for rotary torque sensors to grow at higher CAGR during forecast period”The rotary torque sensors find a wide range of applications, such as in automobile engine testing, drivetrain measurement, dynamometer testing, electric motor testing, and gearbox testing. Hence, the market for rotary torque sensors is expected to register a higher CAGR as the increasing trend of improving fuel economy, efficiency, and electrification is expected to increase their demand during the forecast period.
“Market for torque sensor based on strain gauge to grow at highest CAGR during forecast period”Signals produced by strain gauge torque sensors are compatible with a wide range of instruments, such as digital displays and analog and digital amplifiers. Besides, they are cost-effective compared to other torque sensors.
“Market for automotive application to grow at highest CAGR during forecast period”Most automobile manufacturers use torque sensors for calibrating automatic transmissions and mapping engine torque. They are used for testing clutches and gearboxes, as well as measuring strain and determining the dynamic torque within an engine. Rotary torque sensors are used for strain measurement, testing of major components, including clutch and gearboxes, and dynamic torque within the engine.
“Market in APAC to grow at highest CAGR during the forecast period”APAC is expected to account for the highest growth of the torque sensor market for various types of torque sensors throughout the forecast period. China is the largest vehicle manufacturer in the world. Japan and South Korea are also the major exporters of motor vehicles globally. Due to large-scale manufacturing and significant investments in new vehicle technologies, the automotive industry is expected to play a vital role in the growth of the torque sensor market in the region.
Market in APAC is expected to recover in 2021, with China being the first country to show signs of recovery in the region, especially in the automotive industry. Various automobile suppliers throughout China have now resumed production, slowly recovering from the disruptions caused in the supply chain as a result of the pandemic. The government is also continuing to focus on the development of electric vehicles. The automotive industry in Japan is facing significant disruptions as a result of the pandemic.
Breakdown of primary participants’ profile:• By Company Type: Tier 1 – 40%, Tier 2 – 30%, and Tier 3 – 30%• By Designation: C-level Executives – 40%, Directors – 40%, and Others – 20%• By Region: North America –40%, APAC– 30%, Europe – 20%, and RoW – 10%
Research Coverage:This research report categorizes the torque sensor market on the basis of type, technology, application, and geography. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the torque sensor market and forecasts the same till 2026 (including analysis of COVID-19 impact on the market). Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the torque sensor ecosystem.
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This release was published on openPR.