Global Torque Sensor Market: Overview

A device used for recording and measuring the torque of a rotating system is called torque sensor. Machines such as engines, gearboxes, electric motors, and crankshafts are a part of the rotating system and torque sensors ensure high quality and performance optimization of this system.

On the basis of technology, the market can be classified into magneto elastic torque sensors, static torque sensors, surface acoustic wave torque sensors, and others. Based on application, the market can be segmented into medical, industrial, automotive, aerospace and defense, and others.

In the report, Transparency Market Report (TMR) presents a comprehensive analysis of drivers and restrictions in the global torque sensor market. It also provides insight into the major segments and regions of the market.

Global Torque Sensor Market: Trends and Prospects

The growing awareness in regards to the importance of torque measurement has been noted in various fields such as hybrid and electric automobile engines and medical prosthetics and they have included torque sensors in their operations. The global torque sensor market is likely to benefit from the several potential applications, which is projected to be the key driving force behind its growth. With the development of wireless and non-contact torque sensors such as optical torque sensors, surface acoustic waves (SAW), and magnetoelastic, the market will get a further push. Moreover, the demand for accurate torque measurement solutions is growing in a remarkable manner, supplementing the enormous growth prospects for torque sensors. On the contrary, less reliable torque sensors for high-end applications might limit the growth of the market. 

Based on application, the automotive sector is the chief contributor to the market growth.  Due to the penetration of electric power assisted steering (EPAS) systems in automobiles, torque sensors are in high demand. EPAS systems in automobiles – when compared with standard steering systems – provide the much desired fuel efficiency and also consume less energy. In EPAS systems, the steering column is fitted in line with a torque sensor, thereby increasing the demand and favoring the growth of this market.

Global Torque Sensor Market: Regional Overview

The market for torque sensors can be geographically segmented into Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. The Asia Pacific region accounts for a large share in the market and is expected to lead in the forecast period as well. The developing economies of Asia Pacific – China and India – are the key market contributors. A rise in the number of manufacturing industries in China and development of the oil and gas and aerospace industries in India have propelled the growth of the market. In addition, increasing implementation of industrial automation technologies by industries all over the region has augmented the growth prospects in this region.

On the other hand, Europe is pegged to be a major contributor to the market growth in the future. Technological advancements made in the field of torque sensing and rising demand for better fuel efficiency are the factors supplementing the market growth. In Europe, the new corporate average fuel economy (CAFE) standards have put enormous pressure on auto manufacturers to accelerate the development of electric and hybrid vehicles as well as radically improve the fuel economy on their largest selling models, thereby increasing the demand for torque sensors.

Companies Mentioned in Report

The global market for torque sensors is highly fragmented and with the growing demand, the competition is expected to get intense in the coming years. Kistler Instrumente AG, Crane Electronics Ltd, Honeywell International Inc., Datum Electronics Ltd., and PCB Piezotronics Inc. are some of the prominent players in the global torque sensor market.

This report gives you access to decisive data such as:

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for the coming years

Key highlights of this report

  • Overview of key market forces propelling and restraining market growth
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors
  • An array of graphics and SWOT analysis of major industry segments
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.

All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

  • Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
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The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

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Torque Sensor Market