openPR Logo
Press release

Torque Sensors Market to grow at 9.3% CAGR by 2021

04-27-2017 04:11 PM CET | IT, New Media & Software

Press release from: Persistence Market Research

According to the latest market report published by Persistence Market Research, titled “Global Market Study on Torque Sensor: Rotary Torque Sensor Expected To Be the Most Valuable Product Type Segment throughout the Forecast Period”, the global torque sensor market is estimated to be valued at US$ 1,105.9 Mn by the end of 2015, and is anticipated to expand at a CAGR of 9.3% from 2015 to 2021 to reach US$ 1,889.9 Mn by 2021.

The torque sensor is a device used for measuring the torque of rotating systems such as electric motors, engine, gearbox, draft shaft, etc. Torque measurement and monitoring are an important parameter in all machines and engines.

The global torque sensor market is expected to witness a significant growth during the forecast period (2015-2021). Various factors, such as emerging applications of torque sensors, rising demand for precise torque measurement technology, and high demand from the automotive application segment, are driving the growth of the global torque sensor market currently. Furthermore, trends that follow with the growth of torque sensor market include: development of non-contact & wireless sensors, growing adoption of quality standard specifications (such as ISO 9000), and imposition of strict government regulations related to machine safety in developed countries.

The global torque sensor market is segmented on the basis of product type, mechanical configuration, application, and region. On the basis of product type, the global torque sensor market is segmented into different types of torque sensor products. The rotary torque sensor segment is expected to remain dominant throughout the forecast period, with high revenue contribution. By the end of 2015, the rotary torque sensor segment is expected to hold more than 53% share of the global torque sensor market. However, by 2021, the segment is expected to lose its market share to other product types segments.

In terms of mechanical configuration, the flange style segment is expected to expand at the highest CAGR over the forecast period. However, in 2014, revenue generated by the flange segment was low as compared to the other segments.

On the basis of application, the automotive & transportation application segment held the largest share of the global torque sensor market in 2014, and it is expected to remain dominant throughout the forecast period. Factors which are driving the growth of the global torque sensor market in the automotive & transportation application segment include increasing adoption of torque sensors in various automotive systems, the introduction of new types of torque sensors by key players, and increasing demand for electric-powered steering systems in vehicles.

Request to view table of content @ http://www.persistencemarketresearch.com/market-research/torque-sensors-market/toc

The report provides in-depth information about various factors and trends affecting each market segment and provides analysis and insights about the potential of the torque sensor market in specific regions. On the basis of region, the global torque sensor market is segmented into five regions. Among these, APAC is expected to dominate the market, accounting for 31.9% value share of the market by the end of 2015, and it is expected to remain dominant till 2021. However, the Middle East & Africa market is anticipated to expand at the highest CAGR during the forecast period.

A sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/5069

Key market players in the global torque sensor market include ABB Ltd., ATI Industrial Automation, Inc., FUTEK Advanced Sensor Technology, Inc., Interface Inc., Honeywell International Inc., Crane Electronics Ltd., Kistler Holding AG, HBM GmBH, Sensor Technology Ltd., and Datum Electronics Limited. Key market players are focusing on product innovations and launch of new products to cater to the emerging needs of the customers. For example, in June 2013, ATI Industrial Automation, Inc. launched Wireless F/T, for up to six ATI multi-axis force/torque transducers, which can be powered by internal battery as well as an external power source. In April 2015, Crane Electronics Ltd. launched RFm, which enables reading of torque and angle values in real time and converts them into digital values.

About Us

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Contact Us

Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353

Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Torque Sensors Market to grow at 9.3% CAGR by 2021 here

News-ID: 517477 • Views:

More Releases from Persistence Market Research

Frozen Foods Market Heats Up with Innovation and Growing Consumer Demand
Frozen Foods Market Heats Up with Innovation and Growing Consumer Demand
Market Overview: The frozen foods market consists of a wide range of products, including frozen fruits and vegetables, meat and seafood, ready-to-eat meals, and desserts. These products are preserved through freezing to maintain freshness and quality for an extended period. Market Size and Growth: The global market for frozen foods is forecasted to be of valuation US$ 281.0 Billion in the year 2022 which is expanding at a value CAGR of 5.1% and
The Global Graphene Market's Striking Growth and Innovative Applications
The Global Graphene Market's Striking Growth and Innovative Applications
Introduction Graphene, a single layer of carbon atoms arranged in a hexagonal lattice, has gained global recognition for its extraordinary properties, such as exceptional electrical and thermal conductivity, mechanical strength, and flexibility. Since its isolation in 2004 by Andre Geim and Konstantin Novoselov, graphene has sparked considerable interest in both scientific and industrial communities. This report explores the current state of the graphene market and its potential growth opportunities. Get Access To
Business Opportunities in Cyber Security Mesh Market : Top Countries Data Analysis, Emerging Trends with Upcoming Developments
Business Opportunities in Cyber Security Mesh Market : Top Countries Data Analys …
Market Overview: The projected global market size for cyber security mesh is expected to reach $8.8 billion by the year 2033, with an estimated valuation of $1.2 billion by 2023. This market is poised to experience a compound annual growth rate (CAGR) of 21.7% from 2023 to 2033. The global Cyber Security Mesh market is poised for significant growth as organizations worldwide grapple with the escalating threat landscape. Cybersecurity has become an
Synthetic Beta-Carotene Market To Boost Incredible Growth: 2033, Share Valuation and Industry Size
Synthetic Beta-Carotene Market To Boost Incredible Growth: 2033, Share Valuation …
Key market trends included a shift towards natural and plant-based ingredients, as consumers sought cleaner labels and healthier options. This drove the demand for naturally sourced beta-carotene, but synthetic beta-carotene still had its place due to its cost-effectiveness and consistency in production. The market was also influenced by regulatory changes and evolving dietary preferences, which affected the application and formulation of synthetic beta-carotene in various products. To obtain the latest market

All 5 Releases


More Releases for Sensor

Wheel Speed Sensor Market Growing Up By Sensor Type: Passive Sensor, Active Sens …
Acumen Research and Consulting has announced the addition of the "Wheel Speed Sensor Market” report to their offering. The Wheel Speed Sensor Market Report 2018 is an in depth study analyzing the current state of the Wheel Speed Sensor Market. It provides brief overview of the market focusing on definitions, market segmentation, end-use applications and industry chain analysis. The study on Wheel Speed Sensor Market provides analysis of China market covering
Smart Sensor Market - Transportation System Infrastructure & Aerospace Industrie …
Smart sensor market is expected to reach $15,840 million in 2023 from $4,805 million in 2016, growing at a CAGR of 18.4% from 2017 to 2023. Smart sensor have become an integral part of the aerospace and transportation industry. The robust growth in automobile sector, inclination of society towards IoT, development of smart cities, and surge in security threats are some of the major factors that drive the demand for
Global Body Sensor Market - By Type (EEG Sensor, Visual Sensor, Respiration Sens …
Market Research Reports Search Engine (MRRSE) has recently updated its massive report catalog by adding a fresh study titled “Global Body Sensor Market - Assessment Covering Growth Factors and Upcoming Trends by 2022 End”. This business intelligence study encapsulates vital details about the market current as well as future status during the mentioned forecast period of 2022. The report also targets important facets such as market drivers, challenges, latest trends,
Smart Wearable Fitness Devices Sensors Market to 2025 Temperature Sensor, Pressu …
The report begins from overview of Industry Chain structure, and describes industry environment, then analyses market size and forecast of Smart Wearable Fitness Devices Sensors by product, region and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report. This research report is equipped with the information categorizing Smart Wearable Fitness Devices
Sensor Market to Reach $ 190.95 Billion By 2022: Optical sensor, Image Sensor, T …
Industry Trend Analysis: Sensor Market is expected to experience significant growth in coming years between 2014 and 2022. The market is expected to reach $190.95 billion by 2022 at a growing CAGR of 9.14%. Increasing application in automotive application, collision prevention, healthcare monitoring and oil platforms will enhance the growth of sensor market in the upcoming years. In addition, growing application of sensors in military and surveillance, transportation and logistics will
Motion Sensor Market Revenue Forecast 2015 - 2023 Microwave Sensor, Infrared Mot …
Research report on "Motion Sensor Market (By Types - MEMS Magnetometer, MEMS Accelerometer, MEMS Gyroscope and Sensor Combos By Technology Types - Microwave Sensor, Infrared Motion Sensor, Tomographic Sensor, Ultrasonic Sensor and Others By Application Type - Industrial Application, Consumer electronics, Automotive Application, Fitness and Wellness, Healthcare, Aerospace and Defense and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023" Motion sensor is a device that