Torque Sensor Market Overview
The torque sensor market is expected to reach USD 11.63 billion by 2026, registering a CAGR of 9.68% during the period 2021-2026. Industry 4.0, industrial automation, robotics, and smart factory concepts are increasing the market opportunities for torque sensors. The upward trend in the aerospace, automotive, and medical sectors is driving demand in the market. Moreover, with demand increasing for improving safety, control, and pilot operations, various aerospace companies are expected to adopt torque sensors because these sensors measure in-flight torque controls, actuation systems, and braking systems.
Download free sample here – Torque Sensor Market
Torque Sensor Market – Geographical Overview
The Asia Pacific is expected to account for significant torque sensor market share
Countries such as Japan, South Korea, China, and India are rapidly transforming their manufacturing sector with automated equipment to increase production efficiency and meet the industry needs. Moreover, the industrial automation and robotic industry are witnessing the growing adoption of rotary torque sensors, which is, in turn, driving the market. The automotive sector majorly dominates the demand for torque sensors in India. According to Catapult Organizations report 2021, electric vehicles (EVs) currently account for less than 1% of total vehicle sales in India; the market is increasing and is expected to be worth around at least GBP 4.8 billion (INR 475 billion) by 2025. However, two-wheelers account for the largest share of this market at 62%, followed by three-wheelers at 37%. Further, the favoring government policies and heavy investments from automakers are expected to spike the demand for torque sensors for the automotive industry in India.
Check our other latest reports on –
Key Highlights of the Torque Sensor Market
Related Reports and Links
List of Key Players in the Torque Sensor Market
*List Not Exhaustive
Mordor Intelligence has segmented the global torque sensor market on the basis of product type, application, and geography:
About Mordor Intelligence
Mordor Intelligence is a market intelligence and advisory firm. Our mission is to map complex business ecosystems across the globe to better predict butterfly effects. To date, we have partnered with 4000+ enterprises across 20 industries, to deliver precise data and actionable insights in over 6000 projects. Our domain-specific teams of research experts continuously track markets, enabling our clients to gain a competitive edge through high-quality market intelligence.
We offer fully tailored intelligence solutions to meet the unique business requirements of any organization. Our deep industry expertise coupled with cross-functional analyst teams ensures we can support the intelligence requirements of even the most specific of business problems.
Media ContactCompany Name: Mordor Intelligence Private LimitedContact Person: Bhargav PEmail: Send EmailPhone: +1 617-765-2493Address:5th Floor, Rajapushpa Summit, Nanakramguda Rd, Financial District, Gachibowli City: HyderabadState: Telangana 500008Country: IndiaWebsite: https://www.mordorintelligence.com/industry-reports/torque-sensor-market?utm_source=press-release&utm_medium=Outbound&utm_campaign=68023&utm_id=AB_Newswire&utm_content=PR1