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Global Torque Sensor Market to reach USD 18.6 billion by 2027.

Global Torque Sensor Market Size study, by Type (Rotary Torque Sensor, Reaction Torque Sensor), by Technology (SAW, Optical, Strain Gauge, Magnetoelastic), by Application (Aerospace & Defense, Industrial, Automotive, Test and Measurement, Others) and Regional Forecasts 2020-2027

Product Code: OIRIGAS_12199543
Publish Date: 25-08-2020
Page: 200

Global Torque Sensor Market is valued approximately USD 10.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.9 % over the forecast period 2020-2027. Torque sensors are devices used to calculate the torque of rotating mechanisms. These instruments are used mostly to calculate the torque level in many machines used in car manufacturing, large production systems, and power generation machines. Torque measurement in propulsion systems is of paramount importance in engine & transmission testing, pump testing, turbine testing and power measurement. Torque sensors have a significant number of applications in automotive applications such as chassis performance, steering systems, dynamometers, transmission and driveline. Torque Sensors Market’s driving factor includes trend towards electric vehicle adoption, upgrading to electric power steering system, trend towards condition-based maintenance and the need for improved fuel efficiency. The key players of global Torque Sensor market have adopted various strategies to gain competitive advantage including product launch, mergers and acquisition, partnerships and agreements, investment, funding and others. For instance, in March 2018, HBM launched T21WN torque transducers based on the strain-gauge technology. It is ideal for laboratory, test shop, and testing applications as well as for the use in production and process monitoring as well as quality assurance. It is expected that the lack of reliable sensors for high-end applications will limit the growth of the torque sensor market over the forecast period.

The regional analysis of global Torque Sensor Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Despite the existence of huge automotive and industrial industries, the largest consumers of torque transducers, the North America torque sensor market is anticipated to witness growth over the forecast timeframe. The government requirements for high-quality goods further boost consumer demand and are projected to consume significant quantities of these components. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as Increasing Demand for Advanced High-Performance Vehicle, Growing Importance of Torque Measurement, Rising Demand for Torque Sensors for Electric Power Steering (EPS) Systems would create lucrative growth prospects for the Torque Sensor Market across Asia-Pacific region.

Major market player included in this report are:
Crane Electronics
Futek Advanced Sensor Technology
Applied Measurements
Honeywell International
Kistler Holding
Sensor Technology
Norbar Torque Tools
Infineon Technologies
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Rotary Torque Sensor
Reaction Torque Sensor
By Technology:
Surface Acoustic Wave
Strain Gauge
By Application:
Aerospace & Defense
Test and Measurement
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Torque Sensor Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Torque Sensor Market, by Region, 2018-2027 (USD Billion)
1.2.2. Torque Sensor Market, by Type, 2018-2027 (USD Billion)
1.2.3. Torque Sensor Market, by Technology, 2018-2027 (USD Billion)
1.2.4. Torque Sensor Market, by Application, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Torque Sensor Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Torque Sensor Market Dynamics
3.1. Torque Sensor Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Torque Sensor Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Torque Sensor Market, by Type
5.1. Market Snapshot
5.2. Global Torque Sensor Market by Type, Performance – Potential Analysis
5.3. Global Torque Sensor Market Estimates & Forecasts by Type 2017-2027 (USD Billion)
5.4. Torque Sensor Market, Sub Segment Analysis
5.4.1. Rotary Torque Sensor
5.4.2. Reaction Torque Sensor
Chapter 6. Global Torque Sensor Market, by Technology
6.1. Market Snapshot
6.2. Global Torque Sensor Market by Technology, Performance – Potential Analysis
6.3. Global Torque Sensor Market Estimates & Forecasts by Technology 2017-2027 (USD Billion)
6.4. Torque Sensor Market, Sub Segment Analysis
6.4.1. Surface Acoustic Wave
6.4.2. Optical
6.4.3. Strain Gauge
6.4.4. Magnetoelastic
Chapter 7. Global Torque Sensor Market, by Application
7.1. Market Snapshot
7.2. Global Torque Sensor Market by Product Application, Performance – Potential Analysis
7.3. Global Torque Sensor Market Estimates & Forecasts by Application 2017-2027 (USD Billion)
7.4. Torque Sensor Market, Sub Segment Analysis
7.4.1. Aerospace & Defense
7.4.2. Industrial
7.4.3. Automotive
7.4.4. Test and Measurement
7.4.5. Others
Chapter 8. Global Torque Sensor Market, Regional Analysis
8.1. Torque Sensor Market, Regional Market Snapshot
8.2. North America Torque Sensor Market
8.2.1. U.S. Torque Sensor Market Type breakdown estimates & forecasts, 2017-2027 Technology breakdown estimates & forecasts, 2017-2027 Application breakdown estimates & forecasts, 2017-2027
8.2.2. Canada Torque Sensor Market
8.3. Europe Torque Sensor Market Snapshot
8.3.1. U.K. Torque Sensor Market
8.3.2. Germany Torque Sensor Market
8.3.3. France Torque Sensor Market
8.3.4. Spain Torque Sensor Market
8.3.5. Italy Torque Sensor Market
8.3.6. Rest of Europe Torque Sensor Market
8.4. Asia-Pacific Torque Sensor Market Snapshot
8.4.1. China Torque Sensor Market
8.4.2. India Torque Sensor Market
8.4.3. Japan Torque Sensor Market
8.4.4. Australia Torque Sensor Market
8.4.5. South Korea Torque Sensor Market
8.4.6. Rest of Asia Pacific Torque Sensor Market
8.5. Latin America Torque Sensor Market Snapshot
8.5.1. Brazil Torque Sensor Market
8.5.2. Mexico Torque Sensor Market
8.6. Rest of The World Torque Sensor Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. ABB Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Crane Electronics
9.2.3. Futek Advanced Sensor Technology
9.2.4. HBM
9.2.5. Applied Measurements
9.2.6. Honeywell International
9.2.7. Kistler Holding
9.2.8. Sensor Technology
9.2.9. Norbar Torque Tools
9.2.10. Infineon Technologies
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

The study of the market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. Our analysts contact company executives, managers, key opinion leaders, and industry experts. This enables our analyst to derive the closest possible figures without any major deviations in the actual number.

Primary Research Sources:

  • Interview conducted with raw material suppliers & manufacturers.
  • Interview conducted with manufacturers, suppliers & distributors, researchers, & representatives of regulatory bodies.
  • Interview conducted with market players, industry experts, & independent consultants.
  • Secondary Research Sources:
  • Purchased Database: D&B Hoovers, Bloomberg, Inc., Business Information Industry Association, NAICS Association.
  • Internal Database: White papers, Certified Publications, Articles by Recognized Authors and Regulatory Bodies.
  • Government Databases: Food and Agriculture Organization (FAO), European Industrial Hemp Association (EIHA), World Health Organization (WHO), Food and Drug Administration (FDA), International Telecommunication Union (ITU), United States Department of Agriculture (USDA), International organization of Motor Vehicle Manufacturers (OICA).

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