Torque Sensor Market Expected to Reach US$ 10.28 Billion by 2029
Report Brief:
The global torque sensor market, valued at US$ 7.06 billion in 2022, is projected to grow by 5.5% from 2023 to 2029, reaching nearly US$ 10.28 billion. This growth is driven by increasing demand in various industries and technological advancements in torque sensor manufacturing.
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Market Overview:
The report provides key business insights and market sizing by region, products, and applications, with a forecast till 2030. It includes a detailed analysis of the market's dynamics, including drivers, restraints, and opportunities, with a focus on the impact of COVID-19 and the market's resilience post-lockdown.
Market Scope:
Based on thorough primary and secondary research, the report offers qualitative and quantitative data to help decision-makers identify market segments and growth drivers. It includes a detailed PESTLE and SWOT analysis, aiding in strategic decision-making. The study covers key players based on factors such as company size, market share, growth, revenue, and profits.
Segmentation:
- By Product Type: Reaction Torque, Rotational Torque
- By Application: Automotive, Aerospace, Manufacturing, Medical, Other
- By Mechanical Configuration: Shaft Style, Flange Style
- By Technology: Strain Gauge, Surface Acoustic Wave, Optical, Magnetoelastic
Regional Analysis: The Asia-Pacific region is identified as a key market opportunity for the global torque sensor market and components manufacturers for the next ten years. Despite economic slowdowns, the APAC region shows promising growth, driven by factors like increasing health consciousness and a growing middle-class population.
Key Players:
- ABB Ltd
- Crane Electronics Ltd
- HBK Benelux (Spectris PLC)
- Applied Measurements Ltd.
- Honeywell International
- Norbar Torque Tools Ltd
- Infineon Technologies AG
- Teledyne Technologies, Inc.
- TE Connectivity Ltd
- Datum Electronics Ltd
- PCB Piezotronics, Inc.
- Kistler Instrumente AG
- MagCanica, Inc.
- FUTEK Advanced Sensor Technology
- Interfaceforce
Key Questions Answered:
- What is the competitive scenario of the torque sensor market?
- Which region held the largest market share in the torque sensor market?
- What factors are affecting the torque sensor market growth?
- What key trends are likely to emerge in the torque sensor market in the coming years?
Key Offerings:
- Market Share, Size, and Forecast by Revenue|2042-2030
- Market Dynamics, Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis by torque sensor
- Landscape, Leading key players, and other prominent key players
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