Torque Sensor Market Worth $1427.78 M by 2018June 4, 2013
Market Research forecasts growth in this sensor segment at an estimated CAGR of 8.5% from 2013 to 2018, driven by quality control specifications and a growing awareness of the importance of torque measurements.
DALLAS /PRNewswire/ -- According to New Market Research Report "Torque Sensor Market - By Technology (Rotary, Static/Reaction, Magnetoelastic, IR, SAW, Optical), Application (Automotive, Industrial, Test & Measurement, Aerospace & Defense, Medical) and Geography , Global Forecast & Analysis (2013-2018)", the value of Torque Sensor Market was $869.73 million in 2012 and is expected to reach $1427.78 million in 2018, at an estimated CAGR of 8.5% from 2013 to 2018.
In terms of volume, the total number of torque sensors shipped in 2012 was 525.78 thousand, and the number is expected to reach 969.84 thousand by 2018.
Early buyers will receive 10% customization on this report.
Torque measurement and control is a critical parameter in most rotating parts, machines, and devices to ensure high quality and performance optimization of the process or the whole system. With increased awareness regarding the importance of torque measurement, torque sensors have paved their path in diverse fields such as medical prosthetics, electric and hybrid automobiles, engines, and so on. These potential applications are expected to be a major driving force behind the growth of the global torque sensor market in near future. The development of non-contact and wireless torque sensors, such as magnetoelastic, surface acoustic wave, and optical torque sensors, will also boost the use of torque sensors in different fields.
Quality control specifications like ISO 9000 have played a vital role too in the growth of torque sensor market. The demand for accurate torque measurement solutions is increasing in a phenomenal manner, supporting the huge growth potential for torque sensors.
This report covers the global torque sensor market and all its market aspects, with future opportunities, drivers, restraints, burning issues, and winning imperatives in detail. Major applications of torque sensors such as automotive, industrial, test and measurement, aerospace and defense, and medical applications have been discussed in the report. Automotive and industrial applications contribute to maximum share in overall torque sensor market.
This report divides the overall torque sensor market into four major geographical segments:
- North America
- Rest of the world
This report is based on the extensive research study on torque sensor market and is aimed at identifying the entire market of torque sensors for various applications and all its sub-segments through extensively detailed classifications in terms of both revenue and shipment. It also profiles 20 key torque sensor and related product manufacturers. The report further draws the competitive landscape of torque sensor market, providing an in-depth comparative analysis of the technological and marketing strategies the key players are adopting to gain an edge over their competitors.
You can purchase a copy of the report online.
You can browse related reports on the semiconductor and electronics market on the company's Web site.
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.
MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers thirteen industry verticals, including advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, telecommunications and IT, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and aerospace and defense.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Most Read Articles