Torque Sensor Global Market Report 2024

Torque Sensor Global Market Report 2024 – By Type (Reaction Torque Sensor, Rotary Torque Sensor ), By Technology (Strain Gauge, Surface Acoustic Wave (SAW), Optical, Magnetoelastic), By Application (Automotive, Industrial, Aerospace and Defense, Healthcare) – Market Size, Trends, And Global Forecast 2024-2033

Name: Torque Sensor Global Market Report 2024
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Torque Sensor Global Market Report 2024

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Torque Sensor Market Definition

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.

The main types of torque sensors are reaction and rotary torque sensors. Reaction torque sensors convert a reaction torque measurement into an electrical signal. Rotary sensors are commonly used in automotive engine testing, drive train measurements, electric motor testing, and gearbox testing. By technology, the major types of torque sensors are surface acoustic wave (SAW), optical, and magnetoelastic torque sensors. Major applications of torque sensors include the automotive, industrial, aerospace and defense, and healthcare industries.

Torque Sensor Market Segmentation

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

Global Torque Sensor Market Size 2023 to 2028: Graph

Torque Sensor Market Size 2024 And Growth Rate

The torque sensor market size has grown exponentially in recent years. It will grow from $9.51 billion in 2023 to $11.48 billion in 2024 at a compound annual growth rate (CAGR) of 20.8%. The growth in the historic period can be attributed to automotive industry demand, industrial automation, renewable energy growth, aerospace and defense applications, space exploration..

Torque Sensor Market Growth Forecast

The torque sensor market size is expected to see rapid growth in the next few years. It will grow to $22.51 billion in 2028 at a compound annual growth rate (CAGR) of 18.3%. 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..

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Torque Sensor Market Driver: Surging Electric Vehicle Adoption Fuels Torque Sensor Market Growth

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 September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric vehicles nearly doubled to 6.6 million in 2021 from 3 million in 2020, representing almost 9% of total sales, and increased by 4 percentage points in 2021 as well, bringing the total number of electric vehicles on the road to 16.5 million. Therefore, the growing demand for electric vehicles is driving the growth of the torque sensor market.

Torque Sensor Market Driver: Booming Car Sales Set To Fuel Torque Sensor Market Growth

The increased car sales is expected to drive the torque sensor market. A car typically refers to a motor vehicle with four wheels designed for the transportation of passengers or goods on roads. Torque sensors are used in automotive cars for optimizing engine performance, enhancing safety and stability, improving fuel efficiency, and enabling the efficient operation of various systems. For instance, in July 2023 according to FinMasters, a Europe-based financial information provider, in the United States, approximately 13.74 million cars and light trucks were sold in 2022. In January-February 2023, auto sales in the U.S. amounted to 2.13 million units, and a projection estimates sales to reach 14.8 million for the entire year in 2023. Therefore, the increased car sales is expected to propel the growth of torque sensor market going forward.

Global Torque Sensor Market Major Players

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., Infineon Technologies AG, Kistler Group, MagCanica Inc., Snap-On Inc., Datum Electronics Limited, Hottinger Baldwin Messtechnik GmbH, PCB Piezotronics Inc., Interface Inc., Teledyne Technologies Inc., TE Connectivity Ltd., Bota Systems, HITEC Sensor Solutions, KONUX, Mountz Inc., Robotiq Inc., S. Himmelstein & Company, Transense Technologies plc, ATI Industrial Automation Inc., HBK Benelux, Sensor Technology Ltd., Norbar Torque Tools Ltd., Magtrol SA, Kavlico Corporation, Scaime SAS, Lorenz Messtechnik GmbH, KTR Systems GmbH, Kuebler Inc., Manner Sensortelemetrie GmbH, SICK AG, Honsberg Instruments GmbH, RDP Electronics Ltd., Hohner Automáticos S.L., KOBOLD Messring GmbH

Global Torque Sensor Market Trend: Technological Advancements For Improved Accuracy

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. The development of miniature and wireless torque sensors, non-contact sensing techniques, and integration with IoT and cloud computing are some of the technological advancements that have improved sensor accuracy, reliability, and ease of integration into various applications

Global Torque Sensor Market Trend: Innovative Collaboration Strategies Fuel Torque Sensor Industry

Major companies operating in the torque sensor industry are adopting strategic partnerships approach to provide essential torque sensor services to individuals, businesses, and governments. Strategic partnerships refers to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in April 2021, Datum Electronics Ltd, a UK-based manufacturer and supplier of static and rotary torque sensors, torque transducers, torque meters, and shaft power measurement solutions, partnered with Nautilus Labs, a US-based software company. This collaboration will enhance availability to the high-frequency data that fuels Nautilus Labs' predictive decision support platform. The synergy between Datum Electronics and Nautilus Labs will deliver a holistic solution for digitizing and managing vessel data.

Torque Sensor Market Merger And Acquisition: Amphenol Expands Portfolio Through Strategic Acquisition Of Mts Systems

In April 2021, Amphenol, a US-based producer of electronic and fibre optic connectors, cables, and sensors, acquired MTS Systems for an undisclosed amount. This acquisition, combined with the strength of the companies’ highly complementary sensor product portfolios, will allow them to offer customers an expanded array of innovative technologies across multiple end markets. MTS Systems is a US-based supplier of test systems and industrial sensors.

Regional Outlook For The Global Torque Sensor Market

North America was the largest region in the torque sensor market in 2023. 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.

The countries covered in the torque sensor market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The torque sensor market consists of sales of reaction sensors, rotary sensors, and other torque sensors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The torque sensor market research report is one of a series of new reports from The Business Research Company that provides torque sensor statistics, including torque sensor industry global market size, regional shares, competitors with torque sensor shares, detailed torque sensor segments, market trends and opportunities, and any further data you may need to thrive in the torque sensor industry. This torque sensor research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Torque Sensor Market Report Forecast And Analysis

Report Attribute	Details
Market Size Value In 2024	$11.48 billion
Revenue Forecast In 2033	$22.51 billion
Growth Rate	CAGR of 18.3% from 2024 to 2033
Base Year For Estimation	2023
Actual Estimates/Historical Data	2018-2023
Forecast Period	2024 - 2028 - 2033
Market Representation	Revenue in USD Billion and CAGR from 2024 to 2033
Segments Covered	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
Regional Scope	Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Country Scope	The countries covered in the report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. Additional countries that can be covered in the report for an additional fee: Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, Mexico, Chile, Argentina, Colombia, Peru, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
Key Companies Profiled	ABB Group; Applied Measurements Ltd.; Crane Electronics Ltd.; FUTEK Advanced Sensor Technology Inc.; Honeywell International Inc.; Infineon Technologies AG; Kistler Group; MagCanica Inc.; Snap-On Inc.; Datum Electronics Limited; Hottinger Baldwin Messtechnik GmbH; PCB Piezotronics Inc.; Interface Inc.; Teledyne Technologies Inc.; TE Connectivity Ltd.; Bota Systems; HITEC Sensor Solutions; KONUX; Mountz Inc.; Robotiq Inc.; S. Himmelstein & Company; Transense Technologies plc; ATI Industrial Automation Inc.; HBK Benelux; Sensor Technology Ltd.; Norbar Torque Tools Ltd.; Magtrol SA; Kavlico Corporation; Scaime SAS; Lorenz Messtechnik GmbH; KTR Systems GmbH; Kuebler Inc.; Manner Sensortelemetrie GmbH; SICK AG; Honsberg Instruments GmbH; RDP Electronics Ltd.; Hohner Automáticos S.L.; KOBOLD Messring GmbH
Customization Scope	Request for Sample
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1. Executive Summary

2. Torque Sensor Market Characteristics

3. Torque Sensor Market Trends And Strategies

4. Torque Sensor Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market

4.2. Ukraine-Russia War Impact On the Market

4.3. COVID-19 Impact On the Market

5. Global Torque Sensor Market Size and Growth

5.1. Global Torque Sensor Market Drivers and Restraints

5.1.1. Drivers Of The Market

5.1.2. Restraints Of The Market

5.2. Global Torque Sensor Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)

5.3. Global Torque Sensor Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Torque Sensor Market Segmentation

6.1. Global Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Reaction Torque Sensor

Rotary Torque Sensor

6.2. Global Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Strain Gauge

Surface Acoustic Wave (SAW)

Optical

Magnetoelastic

6.3. Global Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Automotive

Industrial

Aerospace and Defense

Healthcare

7. Torque Sensor Market Regional And Country Analysis

7.1. Global Torque Sensor Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

7.2. Global Torque Sensor Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Torque Sensor Market

8.1. Asia-Pacific Torque Sensor Market Overview

Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

8.2. Asia-Pacific Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8.3. Asia-Pacific Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8.4. Asia-Pacific Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Torque Sensor Market

9.1. China Torque Sensor Market Overview

9.2. China Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

9.3. China Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

9.4. China Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Torque Sensor Market

10.1. India Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

10.2. India Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

10.3. India Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Torque Sensor Market

11.1. Japan Torque Sensor Market Overview

11.2. Japan Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11.3. Japan Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11.4. Japan Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Torque Sensor Market

12.1. Australia Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12.2. Australia Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12.3. Australia Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Torque Sensor Market

13.1. Indonesia Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13.2. Indonesia Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13.3. Indonesia Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Torque Sensor Market

14.1. South Korea Torque Sensor Market Overview

14.2. South Korea Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14.3. South Korea Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14.4. South Korea Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Torque Sensor Market

15.1. Western Europe Torque Sensor Market Overview

15.2. Western Europe Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15.3. Western Europe Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15.4. Western Europe Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Torque Sensor Market

16.1. UK Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16.2. UK Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16.3. UK Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Torque Sensor Market

17.1. Germany Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17.2. Germany Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17.3. Germany Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Torque Sensor Market

18.5. France Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18.6. France Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18.7. France Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Torque Sensor Market

19.9. Italy Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19.10. Italy Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19.11. Italy Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Torque Sensor Market

20.13. Spain Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20.14. Spain Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20.15. Spain Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Torque Sensor Market

21.1. Eastern Europe Torque Sensor Market Overview

21.2. Eastern Europe Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21.3. Eastern Europe Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21.4. Eastern Europe Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Torque Sensor Market

22.1. Russia Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22.2. Russia Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22.3. Russia Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Torque Sensor Market

23.1. North America Torque Sensor Market Overview

23.2. North America Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23.3. North America Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23.4. North America Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Torque Sensor Market

24.1. USA Torque Sensor Market Overview

24.2. USA Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24.3. USA Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24.4. USA Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Torque Sensor Market

25.1. Canada Torque Sensor Market Overview

25.2. Canada Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25.3. Canada Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25.4. Canada Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Torque Sensor Market

26.1. South America Torque Sensor Market Overview

26.2. South America Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26.3. South America Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26.4. South America Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Torque Sensor Market

27.1. Brazil Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27.2. Brazil Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27.3. Brazil Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Torque Sensor Market

28.1. Middle East Torque Sensor Market Overview

28.2. Middle East Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28.3. Middle East Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28.4. Middle East Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Torque Sensor Market

29.1. Africa Torque Sensor Market Overview

29.2. Africa Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29.3. Africa Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29.4. Africa Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Torque Sensor Market Competitive Landscape And Company Profiles

30.1. Torque Sensor Market Competitive Landscape

30.2. Torque Sensor Market Company Profiles

30.2.1. ABB Group

30.2.1.1. Overview

30.2.1.2. Products and Services

30.2.1.3. Strategy

30.2.1.4. Financial Performance

30.2.2. Applied Measurements Ltd.

30.2.2.1. Overview

30.2.2.2. Products and Services

30.2.2.3. Strategy

30.2.2.4. Financial Performance

30.2.3. Crane Electronics Ltd.

30.2.3.1. Overview

30.2.3.2. Products and Services

30.2.3.3. Strategy

30.2.3.4. Financial Performance

30.2.4. FUTEK Advanced Sensor Technology Inc.

30.2.4.1. Overview

30.2.4.2. Products and Services

30.2.4.3. Strategy

30.2.4.4. Financial Performance

30.2.5. Honeywell International Inc.

30.2.5.1. Overview

30.2.5.2. Products and Services

30.2.5.3. Strategy

30.2.5.4. Financial Performance

31. Global Torque Sensor Market Competitive Benchmarking

32. Global Torque Sensor Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Torque Sensor Market

34. Torque Sensor Market Future Outlook and Potential Analysis

34.1 Torque Sensor Market In 2028 - Countries Offering Most New Opportunities

34.2 Torque Sensor Market In 2028 - Segments Offering Most New Opportunities

34.3 Torque Sensor Market In 2028 - Growth Strategies

34.3.1 Market Trend Based Strategies

34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations

35.2. Currencies

35.3. Historic And Forecast Inflation Rates

35.4. Research Inquiries

35.5. The Business Research Company

35.6. Copyright And Disclaimer

List Of Tables

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 6: Global Torque Sensor Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 7: Global Torque Sensor Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 8: Asia-Pacific, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 9: Asia-Pacific, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 10: Asia-Pacific, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 11: China, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 12: China, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 13: China, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 14: India, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 15: India, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 16: India, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 17: Japan, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 18: Japan, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 19: Japan, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 20: Australia, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 21: Australia, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 22: Australia, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 23: Indonesia, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 24: Indonesia, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 25: Indonesia, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 26: South Korea, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 27: South Korea, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 28: South Korea, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 29: Western Europe, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 30: Western Europe, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 31: Western Europe, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 32: UK, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 33: UK, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 34: UK, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 35: Germany, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 36: Germany, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 37: Germany, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 38: France, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 39: France, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 40: France, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 41: Italy, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 42: Italy, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 43: Italy, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 44: Spain, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 45: Spain, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 46: Spain, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 47: Eastern Europe, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 48: Eastern Europe, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 49: Eastern Europe, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 50: Russia, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 51: Russia, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 52: Russia, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 53: North America, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 54: North America, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 55: North America, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 56: USA, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 57: USA, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 58: USA, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 59: Canada, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 60: Canada, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 61: Canada, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 62: South America, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 63: South America, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 64: South America, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 65: Brazil, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 66: Brazil, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 67: Brazil, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 68: Middle East, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 69: Middle East, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 70: Middle East, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 71: Africa, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 72: Africa, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 73: Africa, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 74: ABB Group Financial Performance

Table 75: Applied Measurements Ltd. Financial Performance

Table 76: Crane Electronics Ltd. Financial Performance

Table 77: FUTEK Advanced Sensor Technology Inc. Financial Performance

Table 78: Honeywell International Inc. Financial Performance

List Of Figures

Figure 1: Global Historic Market Growth, 2018-2023, $ Billion

Figure 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Figure 3: Global Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 4: Global Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 5: Global Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 6: Global Torque Sensor Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 7: Global Torque Sensor Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 8: Asia-Pacific, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 9: Asia-Pacific, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 10: Asia-Pacific, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 11: China, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 12: China, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 13: China, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 14: India, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 15: India, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 16: India, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 17: Japan, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 18: Japan, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 19: Japan, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 20: Australia, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 21: Australia, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 22: Australia, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 23: Indonesia, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 24: Indonesia, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 25: Indonesia, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 26: South Korea, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 27: South Korea, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 28: South Korea, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 29: Western Europe, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 30: Western Europe, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 31: Western Europe, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 32: UK, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 33: UK, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 34: UK, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 35: Germany, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 36: Germany, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 37: Germany, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 38: France, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 39: France, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 40: France, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 41: Italy, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 42: Italy, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 43: Italy, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 44: Spain, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 45: Spain, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 46: Spain, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 47: Eastern Europe, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 48: Eastern Europe, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 49: Eastern Europe, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 50: Russia, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 51: Russia, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 52: Russia, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 53: North America, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 54: North America, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 55: North America, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 56: USA, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 57: USA, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 58: USA, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 59: Canada, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 60: Canada, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 61: Canada, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 62: South America, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 63: South America, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 64: South America, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 65: Brazil, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 66: Brazil, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 67: Brazil, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 68: Middle East, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 69: Middle East, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 70: Middle East, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 71: Africa, Torque Sensor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 72: Africa, Torque Sensor Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 73: Africa, Torque Sensor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 74: ABB Group Financial Performance

Figure 75: Applied Measurements Ltd. Financial Performance

Figure 76: Crane Electronics Ltd. Financial Performance

Figure 77: FUTEK Advanced Sensor Technology Inc. Financial Performance

Figure 78: Honeywell International Inc. Financial Performance

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Frequently Asked Questions

What is the definition of the torque sensor market?

How will the torque sensor market drivers and restraints affect the torque sensor market dynamics? What forces will shape the torque sensor industry going forward?

The torque sensor market major growth driver - Surging Electric Vehicle Adoption Fuels Torque Sensor Market Growth. For further insights on the torque sensor market, request a sample here

What is the forecast market size or the forecast market value of the torque sensor market?

The torque sensor market size has grown exponentially in recent years. It will grow from $9.51 billion in 2023 to $11.48 billion in 2024 at a compound annual growth rate (CAGR) of 20.8%. 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 $22.51 billion in 2028 at a compound annual growth rate (CAGR) of 18.3%. 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.. For further insights on the torque sensor market, request a sample here

How is the torque sensor market segmented?

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, HealthcareFor further insights on the torque sensor market, request a sample here

Which region has the largest share of the torque sensor market? What are the other regions covered in the report?

North America was the largest region in the torque sensor market in 2023. 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. For further insights on the torque sensor market, request a sample here.

Who are the major players in the torque sensor market?

What are the key trends in the torque sensor market?

Major trend in the torque sensor market - Technological Advancements For Improved Accuracy. For further insights on the torque sensor market, request a sample here.

What are the major opportunities in the torque sensor market? What are the strategies for the torque sensor market?

For detailed insights on the major opportunities and strategies in the torque sensor market, request a sample here.

How does the torque sensor market relate to the overall economy and other similar markets?

For detailed insights on torque sensor market's relation to the overall economy and other similar markets, request a sample here.

What are the latest mergers and acquisitions in the torque sensor industry?

For detailed insights on the mergers and acquisitions in the torque sensor industry, request a sample here.

What are the key dynamics influencing the torque sensor market growth? SWOT analysis of the torque sensor market.

For detailed insights on the key dynamics influencing the torque sensor market growth and SWOT analysis of the torque sensor industry, request a sample here.