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Torque Sensor Market Share

Report ID: GMI7133
Published Date: Oct 2023
Report Format: PDF

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Torque Sensor Market Share

The torque sensor industry is highly competitive owing to the presence of key players such as:

ABB Limited
A&D Company, Limited
Applied Measurements Limited
Crane Electronics Ltd.
FUTEK Advanced Sensor Technology, Inc.
Honeywell International Inc.
HBM Test and Measurement
Hottinger Baldwin Messtechnik GmbH (HBM)
Kistler Group
KTR Systems GmbH
Mountz, Inc.
Sensor Technology Ltd.
SensorData Technologies, Inc.
TE Connectivity

Significant investments in R&D to gain technological competitiveness and aggressive business strategies including technological launches, collaborations & long-term agreements with clients to capture market share are positively impacting market growth.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The torque sensor market was valued at Over USD 7 billion in 2022 and is estimated to register a CAGR of over 6% between 2023 and 2032.

The automotive segment held a market share of over 6% in 2022 and is estimated to generate revenue through 2032, as the torque sensors are extensively used in engine testing, transmission testing, and electric power steering systems.

Asia Pacific market is anticipated to witness a CAGR of over 7% during 2023-2032 as the region is home to numerous manufacturing powerhouses, including industries like automotive, electronics, and machinery manufacturing, that employ the product for quality control and process optimization.

ABB Limited, A&D Company, Limited, Applied Measurements Limited, Crane Electronics Ltd., FUTEK Advanced Sensor Technology, Inc., Honeywell International Inc., HBM Test and Measurement, Hottinger Baldwin Messtechnik GmbH (HBM), and Kistler Group among others.