PUBLISHER: Lucintel | PRODUCT CODE: 1263820
PUBLISHER: Lucintel | PRODUCT CODE: 1263820
Torque Sensor Market Trends and Forecast
The future of the torque sensor market looks promising with opportunities in the test & measurement, automotive, industrial, and aerospace & defense sectors. The global torque sensor market is expected to reach an estimated $5.8 billion by 2028 with a CAGR of 8.5% from 2023 to 2028. The major drivers for this market are growing importance of torque measurement, increasing demand for advanced high-performance vehicles inclination towards condition-based maintenance and the need for better fuel efficiency.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Torque Sensor Market by Segment
Torque Sensor Market by Sensor Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Torque Sensor Market by Technology [Value ($B) Shipment Analysis from 2017 to 2028]:
Torque Sensor Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
Torque Sensor Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
List of Torque Sensor Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies torque sensor companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the torque sensor companies profiled in this report include.
Torque Sensor Market Insights
Features of the Torque Sensor Market
FAQ
Q1. What is the torque sensor market size?
Answer: The global torque sensor market is expected to reach an estimated $5.8 billion by 2028.
Q2. What is the growth forecast for torque sensor market?
Answer: The global torque sensor market is expected to grow with a CAGR of 8.5% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the torque sensor market?
Answer: The major drivers for this market are growing importance of torque measurement, increasing demand for advanced high-performance vehicles inclination towards condition-based maintenance and the need for better fuel efficiency.
Q4. What are the major segments for torque sensor market?
Answer: The future of the torque sensor market looks promising with opportunities in the test & measurement, automotive, industrial, and aerospace & defense sectors.
Q5. Who are the key torque sensor companies?
Answer: Some of the key torque sensor companies are as follows:
Q6. Which torque sensor segment will be the largest in future?
Answer:Lucintel forecast that rotary torque sensor will remain the larger segment over the forecast period due to the increasing application of these sensors in vehicle engine testing, electric motor testing, dynamometer testing, and gearbox testing.
Q7. In torque sensor market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region due to the robust growth of the automotive industry and increasing adoption of these sensors in industrial automation and robotic industry.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.