Global Torque Sensors Market, 2015 to 2021
Global Torque Sensors Market, 2015 to 2021 Persistence Market Research Global Torque Sensor Market is Expected to be Valued at US$ 1,889.9 Mn by 2021: Persistence Market Research Persistence Market Research 1 Global Torque Sensors Market, 2015 to 2021 Persistence Market Research Released New Market Report According to a new market report published by Persistence Market Research “Global Market Study on Torque Sensor: Rotary Torque Sensor Expected To Be the Most Valuable Product Type Segment throughout the Forecast Period”, the global torque sensor market is estimated to be valued at US$ 1,105.9 Mn by the end of 2015, and is anticipated to expand at a CAGR of 9.3% from 2015 to 2021 to reach US$ 1,889.9 Mn by 2021. The torque sensor is a device used for measuring the torque of rotating systems such as electric motors, engine, gearbox, draft shaft, etc. Torque measurement and monitoring are an important parameter in all machines and engines. The global torque sensor market is expected to witness a significant growth during the forecast period (2015-2021). Various factors, such as emerging applications of torque sensors, rising demand for precise torque measurement technology, and high demand from the automotive application segment, are driving the growth of the global torque sensor market currently. Furthermore, trends that follow with the growth of torque sensor market include: development of non-contact & wireless sensors, growing adoption of quality standard specifications (such as ISO 9000), and imposition of strict government regulations related to machine safety in developed countries. Request Sample Report: http://www.persistencemarketresearch.com/samples/5069 The global torque sensor market is segmented on the basis of product type, mechanical configuration, application, and region. On the basis of product type, the global torque sensor market is segmented into different types of torque sensor products. The rotary torque sensor segment is expected to remain dominant throughout the forecast period, with high revenue contribution. By the end of 2015, the rotary torque sensor segment is expected to hold more than 53% share of the global torque sensor market. However, by 2021, the segment is expected to lose its market share to other product types segments. In terms of mechanical configuration, the flange style segment is expected to expand at the highest CAGR over the forecast period. However, in 2014, revenue generated by the flange segment was low as compared to the other segments. Persistence Market Research 2 Global Torque Sensors Market, 2015 to 2021 On the basis of application, the automotive & transportation application segment held the largest share of the global torque sensor market in 2014, and it is expected to remain dominant throughout the forecast period. Factors which are driving the growth of the global torque sensor market in the automotive & transportation application segment include increasing adoption of torque sensors in various automotive systems, the introduction of new types of torque sensors by key players, and increasing demand for electric-powered steering systems in vehicles. The report provides in-depth information about various factors and trends affecting each market segment and provides analysis and insights about the potential of the torque sensor market in specific regions. On the basis of region, the global torque sensor market is segmented into five regions. Among these, APAC is expected to dominate the market, accounting for 31.9% value share of the market by the end of 2015, and it is expected to remain dominant till 2021. However, the Middle East & Africa market is anticipated to expand at the highest CAGR during the forecast period. View Detail Report With TOC: http://www.persistencemarketresearch.com/marketresearch/torque-sensors-market.asp Key market players in the global torque sensor market include ABB Ltd., ATI Industrial Automation, Inc., FUTEK Advanced Sensor Technology, Inc., Interface Inc., Honeywell International Inc., Crane Electronics Ltd., Kistler Holding AG, HBM GmBH, Sensor Technology Ltd., and Datum Electronics Limited. Key market players are focusing on product innovations and launch of new products to cater to the emerging needs of the customers. For example, in June 2013, ATI Industrial Automation, Inc. launched Wireless F/T, for up to six ATI multiaxis force/torque transducers, which can be powered by internal battery as well as an external power source. In April 2015, Crane Electronics Ltd. launched RFm, which enables reading of torque and angle values in real time and converts them into digital values. More Info: http://www.persistencemarketresearch.com/toc/5069 The global torque sensor market is segmented as follows: Persistence Market Research 3 Global Torque Sensors Market, 2015 to 2021 By Product type: Rotary Torque Sensor Reaction/Static Torque Sensor Optical Torque Sensor Surface Acoustic Wave (SAW) Torque Sensor Other – Magnetoelastic Torque Sensor By Mechanical Configuration: Shaft Style Flange Style By Application: Automotive & Transportation Aerospace & Defense Medical & Healthcare Other – Oil & Gas By Region: North America APAC Europe The Middle East and Africa (MEA) Latin America Market History: Persistence Market Research 4 Global Torque Sensors Market, 2015 to 2021 Torque sensor is a device used for measuring the torque of the rotating systems, such as electric motors, engine, gearbox, craft shifts, etc. Torque measurement and monitoring is an important parameter in all machines and engines. The global torque sensor market is expected to witness significant growth over the forecast period, due to emerging applications of the torque sensor, increasing demand for precise torque measurement technology, and high demand from the automotive application segment. On the other hand, technological challenges due to diversity in applications of torque sensors are expected to be the major restraining factor for the growth of the global torque sensor market during the forecast period. In 2014, the rotary torque sensor segment dominated the global market, and it is estimated to account for more than 53% share of global torque sensor market by 2015 end. This segment is expected to remain dominant throughout the forecast period. However, by 2021, the segment is expected to lose its market share to other product type segments due to a development of new torque sensing technologies. By the end of 2021, the rotary torque sensor segment is expected to lose 410 BPS to other product type segments. Rotary torque sensors are used widely in automotive applications. Some of the important applications of rotary torque sensors in the automotive industry include: for automotive engine testing, electric motor testing, efficiency testing, etc. Additionally, the rotary torque sensor segment is also witnessing a trend of a launch of advanced product offerings by key market players in order to cater to the emerging needs of customers. On the basis of regions, the global torque sensor market is segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). By 2015 end, revenue generated by the rotary torque sensor segment is estimated to be the highest among all the regions. The rotary torque sensor segment in the MEA region is expected to expand at the highest CAGR from 2015 to 2021. The global torque sensor market report also includes the company profile and competitive landscape of the key market players. It covers strategies adopted by key players, their Persistence Market Research 5 Global Torque Sensors Market, 2015 to 2021 recent developments and brief product description. This information will be useful for clients to compare the market players on different parameters. About Us: Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs. 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