The North America Torque Sensor Market would witness market growth of 6.3% CAGR during the forecast period (2019-2025). The adoption of torque sensor across the commercial sector is estimated to accelerate at a rapid rate over the forecast period. This trend can be associated with various factors like increased demand for high performance vehicles, extensive penetration of EPS in passenger vehicles, and a surge in the demand for new torque measurement technologies. However, high installation costs are likely to impede global market growth. In the commercial sector, the demand for torque sensors is evaluated and measured according to the impacts of drivers, restrictions, and opportunities.
The U.S. has emerged as the fastest technology adopter, due to which, the growth of electronics device, upcoming automotive technologies like healthcare monitoring systems, electric & hybrid vehicles, and others are exponential. Escalating rise in the disposable income of the US population also boosts torque sensor sales in this country. Additionally, growth in the semiconductor industry along with rise in advanced system trends among industries is boosting growth in the U.S. torque sensor market.
Based on Type, the market is segmented into Rotary Torque Sensors and Reaction Torque Sensors. Based on Technology, the market is segmented into Strain Gauge, Magnetoelastic, Surface Acoustic Wave and Others. Based on Application, the market is segmented into Automotive, Test & Measurement, Aerospace & Defense, Industrial and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: Torque Sensor Market in North America is expected to register a CAGR of 6.3% during the forecast period (2019-2025)
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., ABB Group, Infineon Technologies AG, MTS Systems Corporation (PCB Piezotronics, Inc.), Snap-On, Inc. (Norbar Torque Tools), Crane Electronics, Ltd., FUTEK Advanced Sensor Technology, Inc, Applied Measurements Ltd., Kistler Group (Kistler Holding AG), and MagCanica, Inc.
Market Segmentation:
By Type
By Technology
By Application
By Country
Companies Profiled
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