Press release
Torque Sensor Market to reach USD 13.46 Bn at a CAGR of 6.34 percent over the forecast period
Torque Sensor Market
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Torque Sensor Market Report Scope and Research Methodology
Market Size in 2023: USD 8.75 Billion
Market Size in 2030: USD 13.46 Billion
CAGR: 6.34 Percent
Forecast Period: 2024-2030
Base Year: 243
Number of Pages: 225
No. of Tables: 133
No. of Charts and Figures: 192
Segment Covered: By Product Type, Mechanical Configuration, Technology and Application
Regional Scope: North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage: Market Share, Size and Forecast by Revenue | 2023-2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, SMR Competition Matrix, Competitive Leadership Mapping, Global Key Players' Market Ranking Analysis.
For Additional Information Regarding the Research Methods:https://www.stellarmr.com/report/req_sample/Torque-Sensor-Market/2264
Torque Sensor Market Scope and Research Methodology
The global Torque Sensor Market is carefully researched in the report while largely concentrating on top players and their business tactics, geographical expansion, market segments, competitive landscape, manufacturing, and pricing and cost structures. Each section of the research study is specially prepared to explore key aspects of the global Torque Sensor Market.
Torque Sensor Market Overview
Torque sensors convert mechanical torque into electrical signals, crucial for precise measurements in industries like automotive and aerospace. The market, valued at USD 8.75 billion in 2023, is set to grow driven by EV adoption and technological advancements.
Torque Sensor Market Dynamics
The Torque Sensor Market is evolving with advancements in novel sensor technologies like magnetoelastic, optical, and SAW technologies. These offer improved linearity, high resolution, and resistance to electromagnetic noise, making them suitable for aerospace and automotive applications. Their wireless and compact designs facilitate easy integration and open doors to new high-performance and prognostics applications.
Torque Sensor Market Regional Analysis
North America dominates the Torque Sensor Market with its advanced automotive sector requiring precise measurement technologies and robust industrial automation. Meanwhile, Asia Pacific is rapidly growing due to industrial development, increasing automotive production, and rising demand for torque sensors in innovative technologies and automation.
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Torque Sensor Market Segmentation
By Product Type
Reaction Torque
Rotary Torque
Accurate torque measurement is critical for quality control and precise engineering in static applications. The rotary torque sensor segment dominates the market due to its versatility and extensive use in automotive, aerospace, and manufacturing sectors, ensuring efficient torque distribution and detecting irregularities.
By Mechanical Configuration
Shaft Style
Flange Style
By Technology
Strain Gauge
Surface Acoustic Wave
Optical
Magnetoelastic
Others
By Application
Automotive
Aerospace
Manufacturing
Medical
Other
Torque Sensor Market's Key Players Include
ABB Ltd
Crane Electronics Ltd
TE Connectivity Ltd
NSK Global
HBK Benelux (Spectris PLC)
Applied Measurements Ltd.
Honeywell International
Norbar Torque Tools Ltd
Infineon Technologies AG
Teledyne Technologies, Inc.
Datum Electronics Ltd
PCB Piezotronics, Inc.
Kistler Instrumente AG
MagCanica, Inc.
FUTEK Advanced Sensor Technology
Interfaceforce
Get Additional Information About the Report:https://www.stellarmr.com/report/Torque-Sensor-Market/2264
Key questions answered in the Torque Sensor Market are:
What is the demand pattern for the Torque Sensor market?
Which segment dominated the Torque Sensor market growth?
Who is the largest key player in the Torque Sensor Market Growth?
Which region held the largest share of the Torque Sensor market?
Who are the key players in the Torque Sensor market?
What is the growth rate of the Torque Sensor Market?
Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by Different Segment | 2024-2030
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by Product Type, Mechanical Configuration, Technology, and Application.
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
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About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical categories and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, category and demand analysis, and client impact studies.
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