The Business Research Company’s report on the Torque Sensor Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the torque sensor market’s growth in recent years?
The increasing adoption of electric vehicles is contributing to the growth of the torque sensor market. Electric automotive manufacturers use torque sensors for measuring drive and braking torque and efficiency. As of 2020, there were 10 million electric vehicles on the roads globally. For instance, in January 2024, according to Eurostat, a Luxembourg-based government agency, in 2022 reached nearly 3.0 million, representing a 55% increase compared to the 1.9 million recorded in 2021. Therefore, the growing demand for electric vehicles is driving the growth of the torque sensor market.
Access Your Free Sample of the Global Torque Sensor Market Report – Get Insights Now!
https://www.thebusinessresearchcompany.com/sample.aspx?id=5740&type=smp
How does the future projection of the torque sensor market size compare to its historical growth?
The torque sensor market size has grown exponentially in recent years. It will grow from $11.31 billion in 2024 to $13.58 billion in 2025 at a compound annual growth rate (CAGR) of 20.0%. The growth in the historic period can be attributed to automotive industry demand, industrial automation, renewable energy growth, aerospace and defense applications, space exploration
The torque sensor market size is expected to see rapid growth in the next few years. It will grow to $25.56 billion in 2029 at a compound annual growth rate (CAGR) of 17.1%. The growth in the forecast period can be attributed to electric vehicle expansion, industry 4.0 and iot adoption, robotic automation, emerging healthcare technologies, smart grid implementation. Major trends in the forecast period include miniaturization and integration, industry 4.0 and iot integration, non-contact torque sensing, digital calibration and self-diagnostics, wireless torque sensing.
Gain Exclusive Market Insights—Customize Your Research Report Today For Fast Delivery!
https://www.thebusinessresearchcompany.com/customise?id=5740&type=smp
Which key players are shaping the future of the torque sensor market?
Major companies operating in the torque sensor market include ABB Group, Applied Measurements Ltd., Crane Electronics Ltd., FUTEK Advanced Sensor Technology Inc., Honeywell International Inc., Kistler Group, MagCanica Inc., Datum Electronics Limited, Hottinger Baldwin Messtechnik GmbH, PCB Piezotronics Inc., Interface Inc., TE Connectivity Ltd., Bota Systems, HITEC Sensor Solutions, Mountz Inc., S. Himmelstein & Company, Transense Technologies plc, ATI Industrial Automation Inc., HBK Benelux, Sensor Technology Ltd., Norbar Torque Tools Ltd., Magtrol SA, Scaime SAS, Lorenz Messtechnik GmbH, KTR Systems GmbH, Manner Sensortelemetrie GmbH, RDP Electronics Ltd.
What trends will propel the growth and evolution of the torque sensor market?
Technology advancements are a key trend gaining popularity in the torque sensor market. For instance, in June 2024, Hottinger Bru¨el & Kjær (HBK), a Denmark-based technology company, launched the next-generation torque sensor. The T110/100 torque sensor, integrated telemetry and a one-size-fits-all flexible stator, represents an important milestone offering new possibilities for helping engineers overcome test bench and measurement challenges, in particular for powertrain testing and especially for electric vehicles.
Which regions are expected to become dominant players in the torque sensor market?
North America was the largest region in the torque sensor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the torque sensor market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Order Your Report Now For Swift Delivery
https://www.thebusinessresearchcompany.com/report/torque-sensor-global-market-report
What are the emerging key segments in the torque sensor market, and how are they evolving?
The torque sensor market covered in this report 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
Subsegments:
1) By Reaction Torque Sensor: Static Torque Sensors, Dynamic Torque Sensors
2) By Rotary Torque Sensor: Contact Rotary Torque Sensors, Non-Contact Rotary Torque Sensors
Purchase The Exclusive Report Now To Unlock Valuable Market Insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=5740
What defines the structure and scope of the torque sensor market?
A torque sensor is a transducer that converts mechanical torque to an electrical signal. There are two types of torque sensors – reaction and rotary. Torque sensors are used in numerous applications in the automotive, motorsports, aerospace, rail, and construction industries. Some of the applications of torque sensors include drag torque measurement, precision mechanics, screwing technology, and testing tools.
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
https://thebusinessresearchcompany.com/
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
