Lucintel Forecasts Torque Sensor Market to Reach $5.8 Billion by 2028

Market-Research

According to the recent study the torque sensor market is projected to reach an estimated $5.8 billion by 2028 from $3.9 billion in 2023, at a CAGR of 8.5% from 2023 to 2028. Growth in this market is primarily driven by growing importance of torque measurement, increasing demand for advanced high-performance vehicles inclination towards condition-based maintenance and the need for better fuel efficiency.

A more than 150-page report is developed to understand trends, opportunities and forecast in torque sensor market by sensor type (rotary torque sensor and reaction torque sensor), technology (surface acoustic wave, magnetoelastic, optical, and strain gauge), end use industry (test & measurement, automotive, industrial, aerospace & defense, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

Download sample report by clicking on below link https://www.lucintel.com/torque-sensor-market.aspx

“Rotary torque sensor market is expected to remain the largest segment during the forecast period.”

Based on sensor type, the torque sensor market is segmented into rotary torque sensor and reaction torque sensor. Lucintel forecasts that the rotary torque sensor market is expected to remain the largest segment due to the increasing application of these sensors in vehicle engine testing, electric motor testing, dynamometer testing, and gearbox testing.

“Within the torque sensor market, the automotive segment is expected to remain the largest application”

Based on application the automotive segment is expected to witness the highest growth over the forecast period due to increasing automotive production and growing inclination towards electrification technology.

“Asia pacific will dominate the torque sensor market in near future”

APAC will remain the largest region due to the robust growth of the automotive industry and increasing adoption of these sensors in industrial automation and robotic industry.

Download Brochure of this report by clicking on https://www.lucintel.com/torque-sensor-market.aspx

Major players of torque sensor market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. PCB Piezotronics, Kistler Instrumente, Crane Electronics, Honeywell, MagCanica, and Datum Electronics are among the major torque sensor providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/torque-sensor-market.aspx or helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com

Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056

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