Torque Sensor Market size was valued at US$ 6.7 Bn. in 2021 and the total Torque Sensor revenue is expected to grow by 5.5% from 2022 to 2027, reaching nearly US$ 9.24 Bn.
The entire global Torque Sensor Market size was valued at US$ 6.7 Bn. in 2021 and the total Torque Sensor revenue is expected to grow by 5.5% from 2022 to 2027, reaching nearly US$ 9.24 Bn.
There are 34 countries identified in the report that are supposed to be desirable travel destinations for industry stakeholders. Based on their probable investment criteria, regional dominance, and global reach, the key players are selected for benchmarking and profiling. There has been a consideration of each local, regional, and international actor's contribution to the overall market.
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Torque Sensor Market Dynamics:
The significant market dynamics by both developed and developing regions of the world can be examined using MMR Research, a focused and useful research methodology. To help clients and corporations succeed in specialised industries and grow in emerging global marketplaces, MMR experts also conduct in-depth evaluations of geographical regions. The continually changing Player landscape that has an impact on the market's development is also highlighted by this Torque Sensor market research report.
Torque Sensor Market Overview:
The report carried out a micro level analysis of each nation to estimate the total size of the Torque Sensor market by nations and segments. A bottom-up approach is used to determine the size of the local and global markets. It is feasible to assess how much the unorganised market contributes to the size of the broader market by performing a micro-level examination of each nation. The substantial research done by the business organisation to understand the Torque Sensor market's drivers, restraints, and opportunities is determined by the Torque Sensor market. Afterward, the findings are confirmed through interviews with influential businesspeople in the area. Both premium and free data bases are used in the secondary research and analysis of the same. Each player's supply and consumption data is derived from official government databases, third-party databases, and, in the case of publicly traded companies, financial reports of the company. Financial records from firms may be obtained from the local government's tax division if they are not made publicly available.
Torque Sensor Market Segment:
During the projection period, the automotive segment is anticipated to expand at a CAGR of 6.1%. Rotational torque sensors are used for inspecting gearboxes, strain evaluation, clutches, braking, rear suspension, powertrain, and dynamic torque inside the engine. Torque sensors have long been employed in the automotive industry. The market provides possibilities for innovation with expanded automotive production. Electric vehicles also do not need a transmission or clutch. However, the engines generate the torque required for acceleration as well as a specific range of engine speed or gears. This raises the need for torque sensors globally in the production of EVs.
Torque Sensor Market Key players:
• ABB Ltd
• Crane Electronics Ltd
• HBK Benelux (Spectris PLC)
• Applied Measurements Ltd.
• Honeywell International
• Norbar Torque Tools Ltd
• Infineon Technologies AG
• Teledyne Technologies, Inc.
• TE Connectivity Ltd
• Datum Electronics Ltd
• PCB Piezotronics, Inc.
• Kistler Instrumente AG
• MagCanica, Inc.
• FUTEK Advanced Sensor Technology
• Interfaceforce
Regional Analysis:
The Torque Sensor market is divided into five primary geographic regions, including North America, Europe, Asia Pacific, the Middle East, Africa, and South America.
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Research methodology:
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Nov 24, 2022