The global torque sensor market is projected to grow at a CAGR of 7% to 9% from 2020 to 2025. The growth of torque sensor market is driven by growing importance of torque measurement, increasing demand for advanced high-performance vehicles, inclination towards condition-based maintenance, and the need for better fuel efficiency.
Some of the Key Questions answered in
this exclusive report are:
Q.1 What are some of the
most promising potential, high-growth opportunities for the global torque
sensor market by sensor type (rotary torque sensors and reaction torque
sensors), technology (surface acoustic wave, magnetoelastic, optical, and
strain gauge), end use industry (test & measurement, automotive, industrial,
aerospace & defense, and others), and region (North America, Europe, Asia
Pacific (APAC), and Rest of the World (ROW)?
Q.2 Which segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the torque sensor market?
Q.4 What are some
changing demands of customers in the torque sensor market?
Q.5 What are the new
developments in the torque sensor market? Which companies are leading these
developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this torque sensor area and how big of a
threat do they pose for loss of market share via product substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this torque sensor market?
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Market Segmentation:
Based on sensor type,
the torque sensor market is segmented into rotary torque sensors and reaction
torque sensors. The rotary torque sensor segment accounted for the largest
share of the market in 2020 and is expected to register the highest CAGR during
the forecast period, due to the benefits offered by rotating meters, which
include low electrical noise, high stiffness, high RPM ratings, and increased
response times.
Asia Pacific will remain
the largest region over the forecast period due to growth of the automotive
industry.
Key Players in the
torque sensor market are PCB Piezotronics Inc., Kistler Instrumente AG, Crane
Electronics Ltd., Honeywell International Inc., MagCanica, and Datum
Electronics Ltd.
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The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
To read more about this market please click on
https://www.lucintel.com/torque-sensor-market.aspx
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon
Fitzgerald
Lucintel
Dallas,
Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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