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Torque Sensor Market Trends

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

Torque Sensor Market Trends

A significant trend in the torque sensor industry is the ongoing advancements in miniaturization and integration of torque sensors. Manufacturers are developing compact & lightweight sensors that can be seamlessly integrated into various applications, even in constrained spaces. This trend is driven by the need for precision torque measurement in portable & consumer devices as well as the growing demand for miniaturized sensors in automotive, robotics, and aerospace applications. The miniaturization of torque sensors reduces their footprint and enhances their compatibility with a broader range of systems, opening up new possibilities for torque measurement in smaller & more mobile devices.

The adoption of smart manufacturing principles including Industry 4.0 practices is a dominant trend in the torque sensor industry. Industry 4.0 emphasizes connectivity, data analytics, and automation in manufacturing processes. Torque sensors play a pivotal role in this ecosystem by providing real-time data on the performance of machinery and equipment. This enables predictive maintenance, improves process efficiency, and ensures product quality. The integration of torque sensors with the Industrial Internet of Things (IIoT) is enabling remote monitoring & control, reducing downtime and optimizing manufacturing operations. As industries continue to embrace the benefits of smart manufacturing and data-driven decision-making, the demand for torque sensors that support such initiatives is on the rise.

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.

Torque Sensor Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 14
  • Tables & Figures: 420
  • Countries covered: 18
  • Pages: 215
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