The Torque Sensor Global Market Report 2023, provides comprehensive information on the torque sensor market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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https://www.thebusinessresearchcompany.com/report/torque-sensor-global-market-report
As per The Business Research Company’s Torque Sensor Global Market Report 2023, the market size is expected to grow from $7.77 billion in 2022 to $9.13 billion in 2023 at a compound annual growth rate (CAGR) of 17.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global torque sensor is expected to grow to $19.68 billion in 2027 at a CAGR of 21.2%.
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Technology advancements are a key trend gaining popularity in the torque sensor market. For example, in September 2021, Sensor Technology Ltd. launched a range of non-contact torque sensors that use surface acoustic wave detection. In January 2020, TE Connectivity, a Swiss manufacturer of sensors, announced a safety torque sensor for human-robot collaborations.
The torque sensor market is segmented:
1) By Type: Reaction Torque Sensor, Rotary Torque Sensor
2) By Technology: Strain Gauge, Surface Acoustic Wave (SAW), Optical, Magnetoelastic
3) By Application: Automotive, Industrial, Aerospace and Defense, Healthcare
North America was the largest region in the torque sensor market in 2022.
The table of contents in TBRC’s torque sensor market report includes:
1. Executive Summary
2. Torque Sensor Market Characteristics
3. Torque Sensor Market Trends And Strategies
4. Torque Sensor Market – Macro Economic Scenario
5. Torque Sensor Market Size And Growth
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26. Africa Torque Sensor Market
27. Torque Sensor Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Torque Sensor Market
29. Torque Sensor Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- ABB Group
- Applied Measurements Ltd
- Crane Electronics Ltd
- FUTEK Advanced Sensor Technology Inc
- Honeywell International Inc.
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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