According to a new market report by Lucintel, the future of the global torque sensor market looks promising with opportunities in the aerospace & defense, industrial, automotive, and test & measurement industries. The global torque sensor market is expected to grow with a CAGR of 8% from 2020 to 2025. The major growth drivers for this market are the growing importance of torque measurement, increasing demand for advanced high-performance vehicles, inclination towards condition-based maintenance, and the need for better fuel efficiency.
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In this market, rotary torque sensors and reaction torque sensors are the two major types of torque sensors. Lucintel forecasts that the rotary torque sensor segment is expected to witness the highest growth due to the benefits offered by rotating meters, which include low electrical noise, high stiffness, high RPM ratings, and increased response times.
Within this market, automotive will remain the largest application segment over the forecast period due to rising implementation of these components in electric vehicles, steering systems, and dynamometers.
Asia Pacific will remain the largest region over the forecast period due to growth of the automotive industry.
PCB Piezotronics Inc., Kistler Instrumente AG, Crane Electronics Ltd., Honeywell International Inc., MagCanica, and Datum Electronics Ltd are among the major manufacturers of the global torque sensor market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global torque sensor market by sensor type, technology, end use industry, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Torque Sensor Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data on the trends and forecast for the global torque sensor market by sensor type, technology, end use industry, and region as follows:
By Sensor Type [$M shipment analysis for 2014 – 2025]:
Rotary Torque Sensors
Reaction Torque Sensors
By Technology [$M shipment analysis for 2014 – 2025]:
Surface Acoustic Wave
Magnetoelastic
Optical
Strain Gauge
By Application [$M shipment analysis for 2014 – 2025]:
Test & Measurement
Automotive
Industrial
Aerospace & Defense
Others
By Region [$M shipment analysis for 2014 – 2025]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
China
Japan
India
South Korea
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
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