Global Automotive Torque Sensor Market By Type (Rotary Torque Sensors, Reaction Torque Sensors), Technology (Surface Acoustic Wave, Magnetoelastic, Optical, Strain Gauge), Vehicle Type (Passenger Vehicles, Commercial Vehicles), Mechanical Configuration (Shaft Style, Flange Style), Application (Automotive, Test and Measurement, Industrial and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights Global Automotive Torque Sensor Market
The automotive torque sensor market is expected to witness market growth at a rate of 9.5% in the forecast period of 2022 to 2029. Data Bridge Market Research report on automotive torque sensor market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The rise in the adoption of autonomous vehicles is escalating the growth of automotive torque sensor market.
Torque sensors are referred to as the devices that are utilized for measuring the torque of rotating systems including engines, electric motors, gearboxes, craft shifts, and so forth. Torque measurement and monitoring is a significant parameter as far as all machines and engines are concerned.
Major factors that are expected to boost the growth of the automotive torque sensor market in the forecast period rise in the inclination amongst the population associated to the advanced high performance vehicles around the world. Furthermore, the growing demand of torque measurement is further anticipated to propel the growth of the automotive torque sensor market. Moreover, the rising applications in electric power steering system is further estimated to cushion the growth of the automotive torque sensor market. On the other hand, the decrease in the reliability is further projected to impede the growth of the automotive torque sensor market in the timeline period.
In addition, the introduction of advanced technologies and the growing uses of torque sensors will further provide potential opportunities for the growth of the automotive torque sensor market in the coming years. However, the increase in the cost of torque transducers might further challenge the growth of the automotive torque sensor market in the near future.
This automotive torque sensor market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive torque sensor market, contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.
Global Automotive Torque Sensor Market Scope and Market Size
The automotive torque sensor market is segmented on the basis of type, technology, vehicle type, mechanical configuration and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the automotive torque sensor market has been segmented into rotary torque sensors, and reaction torque sensors. Rotary torque sensors have been further segmented into contact-based sensing, and noncontact-based sensing.
- On the basis of technology, the automotive torque sensor market has been segmented into surface acoustic wave, magnetoelastic, optical, and strain gauge.
- On the basis of vehicle type, the automotive torque sensor market has been segmented into passenger vehicles, and commercial vehicles.
- On the basis of mechanical configuration, the automotive torque sensor market has been segmented into shaft style, and flange style.
- On the basis of application, the automotive torque sensor market has been segmented into automotive, test and measurement, industrial and others.
Automotive Torque Sensor Market Country Level Analysis
The automotive torque sensor market is analyzed, and market size, volume information is provided by country, type, technology, vehicle type, mechanical configuration and application as referenced above.
The countries covered in the automotive torque sensor market report are the U.S., Canada, and Mexico in North America, Brazil, Argentina, and rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
Asia-Pacific dominates the automotive torque sensor market due to the rise in the production proficiency. Furthermore, the increasing adoption of rotary torque sensors and the growing demand for torque solutions will further boost the growth of the automotive torque sensor market in the region during the forecast period.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Torque Sensor Market Share Analysis
The automotive torque sensor market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the automotive torque sensor market.
Some of the major players operating in the automotive torque sensor market are ABB, Crane Electronics Ltd, Futek Advanced Sensor Technology, HBM - Torque Transducers, Honeywell International Inc., Kistler Instruments India Pvt. Ltd., Norbar, Infineon Technologies AG, TELEDYNE TECHNOLOGIES INCORPORATED., DATUM ELECTRONICS, Magcanica, Inc, Interface, Inc, AIMCO, TE Connectivity., Mountz Torque, PCB Piezotronics, Inc., S. Himmelstein and Company among others.
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