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The global torque sensor market size reached US$ 7.43 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.66 Billion by 2027, exhibiting at a CAGR of 9.59% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A torque sensor, also known as a torque cell, is a device that measures, records and regulates the torque of rotating systems via mechanical processes. It is utilized in rotors, engines, gearboxes, craft shifts, crankshafts, electric motors, and other rotating devices to ensure optimal performance of the entire system. Moreover, as it is compact in size, accurate, stable, robust, suitable for harsh environments, and resistant to high-temperature, the torque sensor finds extensive application in mining, agriculture, defense, and healthcare industries worldwide. At present, it is commonly available in static or dynamic forces and can measure turning forces in clockwise or anti-clockwise directions.
Torque Sensor Market Trends:
The increasing sales of hybrid and electric vehicles (EVs) on account of rapid urbanization and improving income levels of individuals represent one of the key factors positively influencing the use of torque sensors in the automotive industry. It can also be attributed to the inflating prices of petrol worldwide and a significant rise in the demand for fuel-efficient and high-performance automobiles. In addition, the rising environmental awareness among the masses and stringent regulations implemented by governments of numerous countries to minimize carbon emissions are contributing to the market growth. Moreover, torque sensors are employed in the aerospace industry to measure the load on the aircraft wheel and detect overload incidences. Apart from this, there is an increase in the adoption of these sensors in the field of medical prosthetics and artificial limbs for surgical procedures. This, in confluence with considerable growth in the healthcare industry, is offering a positive market outlook. Furthermore, the integration of wireless and digital features in torque sensors is anticipated to offer lucrative growth opportunities to industry players.
IMARC Group provides an analysis of the key trends in each sub-segment of the global torque sensor market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on type, technology and application.
Breakup by Type:
Breakup by Technology:
Breakup by Application:
Breakup by Region:
The Asia Pacific holds the majority of the global torque sensor market share.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Applied Measurements Limited, Crane Electronics Ltd, Datum Electronics Ltd., FUTEK Advanced Sensor Technology, Inc., Hitachi, Ltd., Honeywell International Inc., Hottinger Brüel & Kjaer GmbH, Infineon Technologies AG, Kistler Group, Norbar Torque Tools Ltd., and PCB Piezotronics, Inc.
|Base Year of the Analysis||2021|
|Segment Coverage||Type, Technology, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Applied Measurements Ltd., Crane Electronics Inc., Datum Electronics Ltd. (Indutrade AB), FUTEK Advanced Sensor Technology Inc., Hitachi Ltd., Honeywell International Inc., Hottinger Baldwin Messtechnik GmbH (Spectris Plc), Infineon Technologies AG, Kistler Holding AG, Norbar Torque Tools Ltd. (Snap-on Incorporated) and PCB Piezotronics Inc. (MTS Systems Corporation)|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
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Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
Key Questions Answered in This Report:
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