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Torque Sensor Market Competitive Analysis & Major Market Competitors, Trends and Forecast to 2029

A Torque Sensor Market size was valued at US$ 7.06 Bn. in 2022 and the total Torque Sensor revenue is expected to grow by 5.5% from 2023 to 2029, reaching nearly US$ 10.28 Bn

Torque Sensor Market Overview:

The "Global Torque Sensor Market Analysis" is an in-depth look at the Torque Sensor market, with a focus on global market trends and analysis. This study seeks to provide an overview of the Torque Sensor industry as well as detailed market segmentation by segment and geography. The Torque Sensor market is expected to expand rapidly over the forecast period. The research contains critical information on the market positions of the top Torque Sensor firms, as well as significant industry trends and opportunities.

Market Scope:

To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights applied to each section based on usage rate and average sale price are used to determine percentage splits, market shares, and segment breakdowns. The percentage adoption or usage of the provided market Size in the relevant area or nation is used to determine the country-wise splits of the overall market and its sub-segments.

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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

The automotive application segment is anticipated to expand at a CAGR of 6.1% throughout the forecast period. Rotational torque sensors are used for inspecting gearboxes, strain evaluation, clutches, braking, rear suspension, powertrain, and dynamic torque inside the engine. Torque sensors have long been employed in the automotive industry. The market provides possibilities for innovation with expanded automotive production. Electric vehicles also do not need a gearbox or clutch. However, the engines generate the torque required for acceleration as well as a specific range of engine speed or gears. This raises the need for torque sensors globally in the production of EVs.

Global Torque Sensor Market, by Product Type (2022-2029)

• Reaction Torque
• Rotational Torque

Global Torque Sensor Market, by Application (2022-2029)

• Automotive
• Aerospace
• Manufacturing
• Medical
• Other

Global Torque Sensor Market, by Mechanical Configuration (2022-2029)

• Shaft Style
• Flange Style

Global Torque Sensor Market, by Technology (2022-2029)

• Strain Gauge
• Surface Acoustic Wave
• Optical
• Magnetoelastic

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Key Players:

Primary and secondary research is used to discover industry titans, while primary and secondary research is utilized to assess market revenue. The core research included in-depth interviews with a variety of thought leaders and industry experts, including experienced front-line personnel, CEOs, and marketing specialists. Secondary research comprised an examination of well-known manufacturers' annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then cross-checked against primary data. The following are a few companies working in the Torque Sensor industry.

1.ABB Ltd
2.Crane Electronics Ltd
3.HBK Benelux (Spectris PLC)
4.Applied Measurements Ltd.
5.Honeywell International
6.Norbar Torque Tools Ltd
7.Infineon Technologies AG
8.Teledyne Technologies, Inc.
9.TE Connectivity Ltd
10.Datum Electronics Ltd
11.PCB Piezotronics, Inc.
12.Kistler Instrumente AG
13.MagCanica, Inc.
14.FUTEK Advanced Sensor Technology
15.Interfaceforce

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Regional Analysis:

The Torque Sensor research focuses into geographic analysis, which is further separated by sub-regions and nations. Profit projections and market share statistics for each country are included in this section of the research. This component of the study examines each region's and country's share and growth rate throughout the forecasted time period.

The report provides a thorough PESTEL analysis for all five regions, including North America, Europe, Asia Pacific, the Middle East, Africa, and South America, after considering political, economic, social, and technical issues effecting the Torque Sensor market in various sectors.

COVID-19 Impact Analysis on Torque Sensor Market:

Customer behaviour has changed as a result of the COVID-19 virus across all areas of society. Businesses, on the other hand, will need to revise their strategy to account for changing market supply. This report provides an overview of the COVID-19's influence on the Torque Sensor market and will assist you in developing your business in accordance with the new industry norms.

Under the COVID-19 Impact section, the Torque Sensor Market Report delivers a 360-degree research ranging from the agile supply chain and trade restrictions to regional government policies and the firm's future impact. Primary market research (2021-2027), instances of venture rivalry, the benefits and drawbacks of large corporate channels, and industry growth trends (2021-2027) have all been provided.

Key Questions Answered in the Torque Sensor Market Report are:

How big is the market for Torque Sensor?
Which regional market will emerge as the market leader in the next years?
Which application category is expected to develop the fastest?
What opportunities for growth could exist in the Torque Sensor industry in the next years?
What are the most significant future challenges that the Torque Sensor market may face?
Who are the market leaders in the Torque Sensor category?
What are the main trends that are influencing market growth?
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