Torque Sensor Market to Reach $16.82 Billion, Globally, by 2026 at 7.7% CAGR: AMR

Torque Sensor Market to Reach $16.82 Billion, Globally, by 2026 at 7.7% CAGR: AMR

PR Newswire

PORTLAND, Oregon, May 6, 2020

- Increase in demand for high performance vehicles, implementation of EPS in passenger vehicles, and emergence of innovative torque measurement technologies drive the growth of the global torque sensor market

PORTLAND, Oregon, May 6, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Torque Sensor Market By Type (Dynamic Torque Sensor and Static Torque Sensor) and Application (Automotive, Industrial, Aerospace & Defense, HealthCare, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026". According to the report, the global torque sensor industry generated $8.39 billion in 2018, and is expected to garner $16.82 billion by 2026, growing at a CAGR of 7.7% from 2019 to 2026.

Allied Market Research Logo

Prime Determinants of Growth

Increase in demand for high performance vehicles, implementation of EPS in passenger vehicles, and emergence of innovative torque measurement technologies drive the growth of the global torque sensor market. However, expensive installation procedures hinder the market growth. On the other hand, emerging applications in the healthcare sector and enhanced implementation of torque sensor in the industrial applications present new opportunities in the coming years.

Download Sample Report @ https://www.alliedmarketresearch.com/request-sample/6440 

Covid-19 Scenario

The Static Segment to Continue to Lead during the Forecast Period

Based on type, the static segment accounted for the largest market share in 2018, contributing to nearly two-thirds of the global torque sensor market, and is expected to continue to lead during the forecast period. However, the dynamic segment is expected to contribute the fastest CAGR of 9.3% from 2019 to 2026, owing to increase in adoption of screwing technology, engine test benches, test set ups for precision mechanics, and others for various applications.

Get detailed COVID-19 impact analysis on Torque Sensor Market: https://www.alliedmarketresearch.com/request-for-customization/6440?reqfor=covid

The Automotive Segment to Maintain the Highest Contribution By 2026

Based on application, the automotive segment held the largest market share of the global torque sensor market, holding more than two-fifths of the total share in 2018, and is estimated to maintain the highest contribution by 2026. Moreover, this segment is estimated to witness the highest CAGR of 9.2% from 2019 to 2026. This is attributed to increase in demand for electric power assisted steering (EPAS) in cars as they offer better fuel efficiency and less energy consumption.

Asia-Pacific to Offer Lucrative Opportunities, North America to Follow

Based on region, Asia-Pacific, followed by North America, accounted for the highest contribution in terms of revenue in 2018, contributing to nearly half of the global torque sensor market, and is expected to maintain its lead status during the forecast period. Moreover, this region is expected to maintain the highest CAGR of 8.8% from 2019 to 2026. This is due to different initiatives taken by governments to speed up manufacturing of components of automobiles and automotive sensors.

Interested to Procure the Data? Inquire Here @ https://www.alliedmarketresearch.com/purchase-enquiry/6440 

Leading Market Players

Access AVENUE - A Subscription-Based Library (Premium on-demand, subscription-based pricing model) @ https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:
https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports:

Sensor Market Anticipated to Garner $287 Billion By 2025

Nanosensors Market Projected to Hit $1.32 Billion By 2026

Magnetic Sensor Market Expected to Reach $4.22 Billion By 2026

MEMS Sensor Market Anticipated to Grow $60.6 Million By 2026

RFID Sensor Market Expected to Garner $27.0 Billion By 2024

Proximity and Displacement Sensors Market Projected to Hit $5.32 Billion By 2020 

Pre-Book Now with 10% Discount:

3D Sensor Market: Global Opportunity Analysis and Industry Forecast 2020-2027

Temperature Sensor Market: Global Opportunity Analysis and Industry Forecast 2020-2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com 
Follow Us on LinkedIn and Twitter 

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

Voltar noticias em Inglês