Torque Sensor Market Research Report Explores the Trade Trends for the Forecast 2030

The torque sensor market is expected to cross US$ 6.86 billion in 2022 and is projected to hit US$ 12.52 billion by 2030, recording a CAGR of 8.4% during the forecast period.

Torque measurement is very important in technological applications within propulsion system such as turbine testing, pump testing, engine and transmission testing, and power measurement. Torque is one of the critical parameters of combustion in industrial motors and engines for the development. Moreover, torque measurement is required in almost every machine that attains angular momentum, including the screw caps on medicine bottles and engines to improve mechanical performance.

Torque sensing is one of the methods used to increase the efficiency of machines, engines, and embedded systems. Further, torque sensors are also used as auditing tools for motors, power tools, turbines, and generators. Therefore, the demand for torque sensors is increasing over the past few years, and the trend is likely to remain the same in the coming years.

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The List of TOP KEY PLAYERS in Torque Sensor Market Report are -
o ABB
o Applied Measurements Ltd.
o Crane Electronics Inc.
o Datum Electronics Ltd.
o FUTEK Advanced Sensor Technology, Inc.

The report additionally focuses on world major leading industry players of this market providing information like company profiles, product picture, and specification, capacity, production, price, cost, revenue, and contact information. This report focuses on market trends, volume and value, regional level, and company level. This report represents the overall Torque Sensor Market Size by analyzing historical information and future prospects till 2030.

The Torque Sensor Market 2022 provides a complete assessment of the industry including definitions, classifications, applications, and industry chain structure, which is beneficial for companies regardless of their size and revenue. Torque Sensor Market Survey report covering the major market insights and industry approach towards COVID-19 in the upcoming years. For each manufacturer covered, the clients will find the report complete in all aspects as it covers all key components with valuable statistics and expert opinions in all regards. This section analyses region-wise revenue and volume for the forecast period till 2030.

Scope of the report:

• Product Type:
o Rotary Torque Sensors
o Reaction Torque Sensors

• Application:
o Aerospace and Defense
o Industrial, Automotive
o Test and Measurement
o Others

• Technology:
o Strain Gauge
o Surface Acoustic Wave (SAW)
o Magnetoelastic
o Others

• Region
o North America
o Europe
o Asia Pacific (APAC)
o Rest of the world

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Recent strategic developments in the torque sensor market
The torque sensor market has undergone several significant developments, and a few of these have been mentioned below:
• In April 2021, Datum Electronics Ltd. has collaborated with Nautils Labs to provide shipowners, operators, technical managers, and charterers with a comprehensive vessel digitalization and predictive decision support solution.
• In November 2020, Hottinger Brüel & Kjaer GmbH has developed a new torque transducer T40CB featuring a central bore hole that makes it ideal for testing automobile parts in confined spaces.
• In May 2020, Kistler Holding (Switzerland) collaborated with Vehico (Germany), a manufacturer of driving robots and vehicle control systems for vehicle testing. The collaboration is an extensive package of sensor technologies and driving robots.

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Key Highlights of the Torque Sensor Market Research Report:
• The report summarizes the Torque Sensor Market by stating the definition, applications, scope, it's price, supply and demand ratio, and market overview.
• Competitive landscape of all leading key players together with their business strategies, approaches, and latest Torque Sensor market development.
• It elements market investment, opportunities, growth factors, restraints, and market risks.
• It performs a comprehensive study of emerging players in the Torque Sensor business along with the existing ones.
• It accomplishes primary and secondary research and resources to estimate prime products, market size, and industrial partnerships of this business.

Research Objectives:
• To study and analyze the Torque Sensor consumption by key regions/countries, product type and application, history information, and forecast during 2022-2030.
• To understand the structure of Torque Sensor by identifying its various sub segments.
• Focuses on the key Torque Sensor manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans within the next few years.
• To analyze Torque Sensor with respect to individual growth trends, future prospects, and their contribution to the total market.
• To share detailed information about the key factors influencing the expansion of the market.
• To project the consumption of Torque Sensor submarkets, with respect to key.
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions within the market.
• To strategically profile the key players and comprehensively analyze their growth strategies.

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Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.

This release was published on openPR.