Torque Sensors Market 2022-2030
New Study Reports “Torque Sensors Market 2022, Analysis, Growth, Size, Trends Forecasts 2030″ has been Added on PMR.
Report Overview
Starting with the overview of the Torque Sensors Market, it presents an overall analysis of the latest trends that are prevalent in the industry. The report begins with the description of the market surroundings and the analysis of the size and forecast of product or service based on regions and applications. In addition to it, the report also introduces the market competitive landscape among the vendors and manufacturers that contribute to the growth of the product or service. The company profiling and market price analysis in relation to the value chain features is also covered in the report. The data experts have examined and scrutinized the industry trends in the key regions. 2022 has been considered as the base year, with the forecast period extending to 2030.
The global torque sensors market is expected to witness significant growth during the forecast period (2022 to 2030), at a CAGR of around 6%.
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Various factors such as emerging applications of torque sensors, rising demand for precise torque measurement technology, and high demand for use in automotive applications are driving the growth of the torque sensors market. Furthermore, development of non-contact and wireless sensors, growing adoption of quality standard specifications (such as ISO 9000), and imposition of strict government regulations related to machine safety in developed countries are other important factors leading to increasing sales of torque sensors across the globe.
Key Players:
The report has profiled some of the Important players prevalent in the global like – ABB Ltd., ATI Industrial Automation, Inc., FUTEK Advanced Sensor Technology, Inc., Interface Inc., Honeywell International Inc., Crane Electronics Ltd., Kistler Holding AG, HBM GmBH, Sensor Technology Ltd., Datum Electronics Limited and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Torque Sensors.
Key Takeaways from Torque Sensors Market Study
- The rotary torque sensor segment is expected to remain dominant throughout the forecast period, with high revenue contribution. However, the segment is expected to lose some of its market share to other product segments over the coming years.
- In terms of mechanical configuration, the flange style segment is expected to expand at the highest CAGR over the forecast period.
- On the basis of application, the automotive & transportation application segment holds the largest share of the global torque sensors market, and is expected to remain dominant throughout the forecast period. Increasing adoption of torque sensors in various automotive systems, introduction of new types of torque sensors by key players, and increasing demand for electric-powered steering systems in vehicles are factors driving this segment.
- Asia Pacific and North America are leading regions in the global torque sensors market.
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Torque Sensors Market Competition Analysis
Key market players in the global torque sensors market include ABB Ltd., ATI Industrial Automation, Inc., FUTEK Advanced Sensor Technology, Inc., Interface Inc., Honeywell International Inc., Crane Electronics Ltd., Kistler Holding AG, HBM GmBH, Sensor Technology Ltd., and Datum Electronics Limited. These key players are focusing on product innovations and launch of new products to cater to the emerging needs of customers. For example, ATI Industrial Automation, Inc. launched Wireless F/T, for up to six ATI multi-axis force/torque transducers, which can be powered by an internal battery as well as an external power source. Crane Electronics Ltd. launched RFm, which enables the reading of torque and angle values in real time, and converts them into digital values.
Key Stakeholders
Torque Sensors Market Manufacturers
Torque Sensors Market Distributors/Traders/Wholesalers
Torque Sensors Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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