Global Torque Sensors Market to Reach $13.6 Billion by 2025

SAN FRANCISCO, March 28, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Torque Sensors - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 19; Released: February 2022

Executive Pool: 2142

Companies: 77 - Players covered include ABB Ltd.; AIMCO; Applied Measurements Ltd.; ATI Industrial Automation, Inc.; Burster GmbH & Co. KG; Crane Electronics Ltd.; Datum Electronics Limited; FUTEK Advanced Sensor Technology, Inc.; Honeywell International Inc.; Hottinger Baldwin Messtechnik GmbH; Infineon Technologies AG ; Interface, Inc.; Kistler Group; Lorenz Messtechnik GmbH; MagCanica, Inc.; Mountz, Inc.; Norbar Torque Tools Limited; PCB Piezotronics, Inc.; S. Himmelstein and Company; SCAIME SAS; Sensor Technology Limited; SENSY S.A.; TE Connectivity Ltd.; Teledyne Instruments and Others.

Coverage: All major geographies and key segments

Segments: Type (Rotary, Static/Reaction); Technology (Strain Gauge, Optical, SAW, Magneto Elastic); Application (Automotive, Aerospace & Defense, Industrial, Other Applications,)

Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Torque Sensors Market to Reach $13.6 Billion by 2025

Torque measurement and control is a significant factor considered in majority of the rotating components, devices, and machines, and is essential for achieving high-quality and performance optimization of processes or the entire system. Torque sensor, also known as torquemeter or torque transducer, is a device that can measure and record torque developed on rotating systems such as helicopter tail rotor, crankshaft, engine, transmission, gearbox, and bicycle crank, among others. The need for accurate torque measurement as a means to achieve significant improvements in operational efficiency of the component is driving up demand for torque sensors in various applications. Amid the COVID-19 crisis, the global market for Torque Sensors estimated at US$11.4 Billion in the year 2022, is projected to reach a revised size of US$13.6 Billion by 2025, registering a compounded annual growth rate (CAGR) of 6.7% over the analysis period. United States represents the largest regional market for Torque Sensors, accounting for an estimated 30.9% share of the global total. The market is projected to reach US$4.1 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 9.8% over the analysis period.

The global market for torque sensors is set to witness robust growth through the coming years, in lieu of healthy trajectory in core end-use industries. At present, torque sensors are used widely in automotive industry, with aerospace and defense, medical, test & measurement, and industrial sectors being other key end-use markets for torque sensors. Technology improvements and integration of fully-wireless and digital components into torque measurement systems would help sustain growth. The US represents the dominant regional market, led by established use of torque sensor systems in a range of industrial applications, and uptrend in automotive, aerospace & defense and other core end-use verticals. Furthermore, increased reliance on Industrial Robotics, Smart Factory and Industry 4.0 concepts is also paving way for wider use of torque sensors. Demand for torque sensors in recent times has been relatively stronger in China and Asia-Pacific, owing to rapid industrialization and the subsequent increase in adoption of automation technologies and practices. Increased industrial activity and investments on factories and plants operating in automotive, steel, power, chemical/petrochemical and oil & gas sectors make China and Asia-Pacific lucrative markets. More

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SOURCE Global Industry Analysts, Inc.