Global Torque Sensor Market 2019-2025

The global torque sensor market is projected to grow at a significant growth rate during the forecast period owing to the growing adoption of torque management in various applications such as industrial automotive, aerospace & defense and others. Over the past years, vehicle electronic systems have changed significantly. Mechanical systems are continuing to be controlled with automotive electronics. The evolution of microcontroller and sensor technology is allowing the automobile industry to create complex systems that can provide higher levels of vehicle control and safety. Therefore, growing demand for high performance and safety vehicles increases the adoption of torque management thus creating significant growth in the market. Moreover, technological advancement in sensor technology and the growing application of torque sensors in robotics offer a substantial market opportunity to the market during the forecast period.

Geographically, the global torque sensor market is further classified into North America, Europe, Asia-Pacific, and the Rest of the World. North America is anticipated to have a significant market share in the global market. The factors that are contributing to the growth of the North American torque sensor market include the significant adoption of wireless sensors for various industrial applications and the growing demand for toque sensors in automotive applications. Moreover, Asia-Pacific is estimated to have considerable growth during the forecast period. The Asia-Pacific torque sensor market growth is attributed to the increasing industrialization coupled with automation in the manufacturing sector in emerging economies such as India and China.

The global torque sensor market is influenced by product development and advancements conducted by the market players. Some of the key players in the market include ABB Ltd., Honeywell International Inc., Hottinger Baldwin Messtechnik (HBM) GmbH, Kistler Holding AG, Crane Electronics Ltd, FUTEK Advanced Sensor Technology, Inc., Infineon Technologies AG, MagCanica, Inc., among others. These players are playing a significant role in the growth of the torque sensor market by providing various products and adopting several strategies such as merger and acquisition, partnerships and collaboration, technological development, and others.

Research Methodology

The market study of the global torque sensor market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.

Secondary sources include:

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog

The report is intended for torque sensor manufacturers, suppliers, traders, distributors, automotive manufacturers, investing companies, and other market participants for overall market analysis and competitive analysis. The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.

Market Segmentation:

1. Global torque sensor Market Research and Analysis by Technology
2. Global torque sensor Market Research and Analysis by Application

The Report covers:

• Comprehensive research methodology of the global torque sensor market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global torque sensor market.
• Insights about market determinants which are stimulating the global torque sensor market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.