February 25, 2022 08:18 ET | Source: Research and Markets Research and Markets
Dublin, Feb. 25, 2022 (GLOBE NEWSWIRE) -- 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. 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 Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global torque sensor market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, technology and application. Breakup by Type:
The report has also analysed the competitive landscape of the market with some of the key players being 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), etc. Key Questions Answered in this Report:
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 6.1 Rotary Torque Sensor 6.1.1 Market Trends 6.1.2 Market Forecast 6.2 Reaction Torque Sensor 6.2.1 Market Trends 6.2.2 Market Forecast 7 Market Breakup by Technology 7.1 Surface Acoustic Wave (SAW) 7.1.1 Market Trends 7.1.2 Market Forecast 7.2 Optical 7.2.1 Market Trends 7.2.2 Market Forecast 7.3 Strain Gauge 7.3.1 Market Trends 7.3.2 Market Forecast 7.4 Others 7.4.1 Market Trends 7.4.2 Market Forecast 8 Market Breakup by Application 8.1 Aerospace and Defense 8.1.1 Market Trends 8.1.2 Market Forecast 8.2 Automotive 8.2.1 Market Trends 8.2.2 Market Forecast 8.3 Testing and Measurement 8.3.1 Market Trends 8.3.2 Market Forecast 8.4 Healthcare 8.4.1 Market Trends 8.4.2 Market Forecast 8.5 Others 8.5.1 Market Trends 8.5.2 Market Forecast 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 14.3.1 Applied Measurements Ltd. 14.3.1.1 Company Overview 14.3.1.2 Product Portfolio 14.3.1.3 Financials 14.3.2 Crane Electronics Inc. 14.3.2.1 Company Overview 14.3.2.2 Product Portfolio 14.3.3 Datum Electronics Ltd. (Indutrade AB) 14.3.3.1 Company Overview 14.3.3.2 Product Portfolio 14.3.3.3 Financials 14.3.4 FUTEK Advanced Sensor Technology Inc. 14.3.4.1 Company Overview 14.3.4.2 Product Portfolio 14.3.5 Hitachi Ltd. 14.3.5.1 Company Overview 14.3.5.2 Product Portfolio 14.3.5.3 Financials 14.3.5.4 SWOT Analysis 14.3.6 Honeywell International Inc. 14.3.6.1 Company Overview 14.3.6.2 Product Portfolio 14.3.6.3 Financials 14.3.6.4 SWOT Analysis 14.3.7 Hottinger Baldwin Messtechnik GmbH (Spectris Plc) 14.3.7.1 Company Overview 14.3.7.2 Product Portfolio 14.3.7.3 Financials 14.3.7.4 SWOT Analysis 14.3.8 Infineon Technologies AG 14.3.8.1 Company Overview 14.3.8.2 Product Portfolio 14.3.8.3 Financials 14.3.8.4 SWOT Analysis 14.3.9 Kistler Holding AG 14.3.9.1 Company Overview 14.3.9.2 Product Portfolio 14.3.10 Norbar Torque Tools Ltd. (Snap-on Incorporated) 14.3.10.1 Company Overview 14.3.10.2 Product Portfolio 14.3.10.3 Financials 14.3.11 PCB Piezotronics Inc. (MTS Systems Corporation) 14.3.11.1 Company Overview 14.3.11.2 Product Portfolio
For more information about this report visit https://www.researchandmarkets.com/r/7opvjw