Torque Sensor Market estimated high sales by 2016-2024
Zion Market Research, the market research group announced the analysis report titled ‘Torque Sensor Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024′
Global Torque Sensor Market: Overview
The torque transducers or sensors are used to measure the torque of the systems that are rotating like for example electric motors, gear box, craft shifts and others. An important parameter in all the machines and engines is torque, which requires constant monitoring and measurement. The torque sensor market is growing owing to growing applications of torque sensors in the automotive sector. The market has a great opportunity to grow owing to the development in the non-contact and wireless sensors.
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Global Torque Sensor Market: Segmentation
The global torque sensor market is globally segmented into product type, mechanical configuration, application, and region. Based on the product type, the global market is segregated into reaction/static torque sensors, rotary torque sensors, magnetoelastic torque sensors, optical torque sensors, surface acoustic wave torque sensors and others. On the basis of the mechanical configuration, the global market is categorized into flange style and shaft style. The various applications where the global market is used include automotive and transportation, medical and healthcare, aerospace and defense, oil and gas and others. Region-wise, the torque sensor market is diversified into Asia-Pacific, Europe, North America and the Rest of the World.
Global Torque Sensor Market: Growth Factors
The global torque sensor market is expected to witness a tremendous growth owing to the factors such as the increase in the applications of the torque sensors, high demand for the torque sensors in the automotive segment and rising demand for the torque measurement technology are triggering the market growth. The trends that are growing along with the growth of the global market are growing adoption of the quality standard specifications, the rise in the non-contact and the wireless sensors and the strict regulations in the machine safety in the developed regions.
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Global Torque Sensor Market: Regional Analysis
The global torque sensor market is dominated by the Asia-Pacific region. However, the Middle East and Africa region are showing a tremendous market growth. The developing regions are showing a huge growth in the market owing to the rapid growth in the automotive and transportation market. Various automotive systems make use of the torque sensors hence driving the global market. North America and Europe are giving their ample share in the torque sensor market.
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Global Torque Sensor Market: Competitive Players
The major market players in the torque sensor market includeHoneywell International Inc., Datum Electronics Ltd., Crane Electronics Ltd., ABB, FUTEK Advanced Sensor Technology, Crane Electronics, HBM Test and Measurement, Kistler Instrumente Ag, PCB Piezotronics Inc., ATI Industrial Automation, Interface Advanced Force Measurement, Kistler Holding and Sensor Technology.
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