Worldwide Torque Sensor Industry to 2027 - Featuring Crane Electronics, HItachi and Honeywell International Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Torque Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global torque sensor market size reached US$ 7.43 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 12.66 Billion by 2027, exhibiting a CAGR of 9.59% during 2022-2027.

Companies Mentioned

• Applied Measurements Ltd.
• Crane Electronics Inc.
• Datum Electronics Ltd. (Indutrade AB)
• FUTEK Advanced Sensor Technology Inc.
• Hitachi Ltd.
• Honeywell International Inc.
• Hottinger Baldwin Messtechnik GmbH (Spectris plc)
• Infineon Technologies AG
• Kistler Holding AG
• Norbar Torque Tools Ltd. (Snap-on Incorporated)
• PCB Piezotronics Inc. (MTS Systems Corporation)

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Torque sensor, or torque transducer, refers to an electronic device that is designed to detect, monitor, record and regulate rotational and linear forces exerted on it. It converts mechanical input into an electrical signal and is commonly used in electric motors, rotors, gearboxes, craft shifts, crankshafts, engines and other rotating devices to ensure optimal performance of the entire system. Super acoustic wave (SAW), strain gauge, optical, magnetoelastic and piezoelectric torque sensors are the most common variants available in the market. They find extensive applications across various industries, including automotive, aerospace, defense, healthcare, agriculture and mining.

Significant growth in the automotive industry and the increasing demand for high-performance hybrid and electric automobiles are among the key factors that are creating a positive outlook for the market. Torque sensors are fitted into the steering column in the electric power steering (EPS) system to improve the fuel and energy efficiency of the vehicle. Apart from this, it is also used for real-time torque management, engine and chassis performance measurement and energy transmission of the automobile.

Furthermore, widespread adoption of torque sensors by industrial robots for product testing is also providing a boost to the market growth. Various technological advancements, such as the development of rotary sensors with minimal weight, electrical noise, high stiffness and improved response time, are contributing to the market growth. The production of non-contact and wireless optical torque sensors with greater sensitivity and electrical passiveness, along with the emergence of medical robots, are some of the other factors projected to drive the market further.

Key Questions Answered in this Report:

• How has the global torque sensor market performed so far and how will it perform in the coming years?
• What are the key regional markets?
• What has been the impact of COVID-19 on the global torque sensor industry?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the technology?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global torque sensor market and who are the key players?
• What is the degree of competition in the industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Torque Sensor Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market Breakup by Type

7 Market Breakup by Technology

8 Market Breakup by Application

9 Market Breakup by Region

10 SWOT Analysis

11 Value Chain Analysis

12 Porters Five Forces Analysis

13 Price Indicators

14 Competitive Landscape

14.1 Market Structure

14.2 Key Players

14.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/n1zb7d