Global Torque Sensor Market Outlook, Opportunities And Strategies
Learn about the global torque sensor market through The Business Research Company, which provides information on torque sensor market size, torque sensor market drivers and restraints, torque sensor market players, the COVID-19 impact on the torque sensor market, and more.
The global torque sensor market size is expected to grow from $6.68 billion in 2021 to $7.66 billion in 2022 at a compound annual growth rate (CAGR) of 14.63%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global torque sensors market is expected to reach $15.76 billion in 2026 at a CAGR of 19.77%.
The increasing adoption of electric vehicles is contributing to the growth of the torque sensor market.
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The torque sensor market consists of sales of torque sensors by entities (organizations, sole traders, and partnerships) that manufacture torque sensors. A torque sensor is a transducer that converts mechanical torque to an electrical signal. There are two types of torque sensors – reaction and rotary. Torque sensors are used in numerous applications in the automotive, motorsports, aerospace, rail, and construction industries. Some of the applications of torque sensors include drag torque measurement, precision mechanics, screwing technology, and testing tools.
Global Torque Sensor Market Segments Include:
By Type: Reaction Torque Sensor, Rotary Torque Sensor
By Technology: Strain Gauge, Surface Acoustic Wave (SAW), Optical, Magnetoelastic
By Application: Automotive, Industrial, Aerospace and Defense, Healthcare
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the torque sensor market in 2021.
Technology advancements are a key trend gaining popularity in the torque sensor market.
TBRC’s torque sensor market report covers:
Major Market Players: ABB Group, Applied Measurements Ltd., Crane Electronics Ltd., FUTEK Advanced Sensor Technology Inc, Honeywell International Inc., Infineon Technologies AG, Kistler Group (Kistler Holding AG), MagCanica Inc., Snap-On Inc. (Norbar Torque Tools), Datum Electronics Limited, HBM GmBH, PCB Piezotronics, Interface Inc., Teledyne Technologies Inc., TE Connectivity, Bota Systems, HITEC Sensor Solutions, KONUX, Mountz, Robotiq, S. Himmelstein & Company, Transense Technologies, and ATI Industrial Automation Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Torque Sensor Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides torque sensor market overviews, analyzes and forecasts market size, share, torque sensor market players, torque sensor market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s torque sensor market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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