The global torque sensor market is expected to reach US$10.28 billion by 2029, growing at a steady CAGR of 5.5% from 2023, according to Maximize Market Research (MMR). This growth is fueled by the increasing demand for precision measurement and control across various industries.
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Overview
Torque sensors play a critical role in measuring the twisting force applied to an object. They are widely used in industrial automation, automotive testing, robotics, and other applications requiring precise measurement of rotational force.
Market Scope
The MMR report offers a comprehensive analysis of the torque sensor market landscape, exploring key trends, influencing factors, and growth opportunities. It delves into market segmentation by product type (reaction torque, rotational torque), application (automotive, aerospace, manufacturing, medical), and mechanical configuration (shaft style, flange style).
Segmentation Highlights
Factors Driving Growth
Competitive Landscape
The torque sensor market is a dynamic space with a mix of established players like ABB and Honeywell, alongside innovative niche manufacturers.
Regional Analysis
North America is expected to hold a dominant market share initially due to the presence of major automotive and manufacturing industries. However, Asia Pacific is anticipated to witness the fastest growth due to factors like rising automation adoption and increasing production in this region.
COVID-19 Impact
The COVID-19 pandemic caused temporary disruptions to the supply chain and manufacturing of torque sensors. However, the long-term outlook remains positive as automation and electrification trends continue to drive demand.
Addressing Key Questions
The MMR report addresses critical questions concerning the torque sensor market, including:
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