Torque Sensor Market – Highlights
Torque sensors are used for measuring the torque on rotating systems which include electric motors, engines, crankshafts, and gearboxes. The torque sensors are suited in a wide variety of applications including torsional test machines, motor dynamometers, electric motor testing, fan testing, hydraulic pump testing among others. Automotive is the largest segment in torque sensor market due to need for better fuel efficiency, electrical power steering and condition-based maintenance.
Torque Sensor Market – Key players
The key players in the torque sensor market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are – ABB (Switzerland), Honeywell International (US), Infineon Technologies (Germany), Crane electronics (UK), Applied Measurements (UK), Kistler Holding (Switzerland), Norbar Torque Tools (UK), Sensor Technology (UK), Hottinger Baldwin Messtechnik (Germany), and FUTEK Advanced Sensor Technology (US). These players contribute a major share in the growth of Torque Sensor market.
Apart from the top key players, there are other players that contribute to the market growth. These include Datum Electronics Ltd. (UK), PCB Piezotronics Inc. (US), TE Connectivity (Switzerland) and HBM Test and Measurement (US), and others.
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Torque Sensor Market – Segmentation
By type, the market is segmented into rotary torque sensor and reaction torque sensor. Rotary torque sensor is further bifurcated into contact-based sensing and noncontact-based sensing. By technology, the market is segmented into surface acoustic wave (SAW), magnetoelastic, optical and strain gauge. By application, the market is segmented into automotive, industrial, test & measurement, aerospace & defense and others.
Torque Sensor Market – Regional Analysis
The global market for torque sensor is driven by its accuracy and low cost. The market is estimated to grow at a significant rate during the forecast period from 2018 to 2023. 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 the largest revenue generating segment and is expected to continue its dominance during the forecast period. Factors such as increase in production of light vehicles and rising growth in oil and gas and aerospace in countries such as China and India are driving the need for torque sensors. Asia-Pacific is followed by Europe owing to the presence of automotive manufacturers in the region. New standards such as corporate average fuel economy (CAFE) standards are enabling the the development of electric and hybrid vehicles in the region along with improving fuel economy in vehicles, which is driving the demand for torque sensors.
Torque Sensor Market – TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 Research Objectives
2.4 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
Continued…
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LIST OF TABLES
Table 1 Torque Sensor Market, By Region, 2018–2023
Table 2 North America: Torque Sensor Market, By Country, 2018–2023
Table 3 Europe: Torque Sensor Market, By Country, 2018–2023
Continued…
LIST OF FIGURES
FIGURE 1 Global Torque Sensor Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Torque Sensor Market
Continued…
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