Increasing demand for torque sensors in automotive, healthcare sectors, driven by technological advancements

From GlobeNewswire: 2024-10-08 13:15:00

A torque sensor is a device that measures, records, and controls rotating forces in industries like mining, agriculture, and healthcare. The rise in sales of hybrid and electric vehicles is driving the market, with Asia-Pacific leading in market share. Static torque sensors dominate, especially in the automotive sector.

Increased demand for high-performance vehicles due to rising incomes is fueling the global torque sensor market. Sensors are vital for automation, contributing to precision and productivity. The healthcare sector is seeing rapid growth with the integration of torque sensor technology into medical devices, creating new opportunities and possibilities.

Asia-Pacific holds the largest market share for torque sensors, with steady growth expected. Technological advancements in South America and the Middle East drive market expansion in LAMEA region. The automotive sector in Asia-Pacific, including countries like China and Japan, fuels the demand for torque sensors.

The global torque sensor market is segmented into rotary and reaction torque sensors, with the automotive sector leading in application. Major players in the market include ABB, Honeywell International, and Infineon Technologies. Recent developments include ABB E-mobility’s acquisition of Vourity and Sensor Technology launching new torque sensors with a wide range of capabilities.



Read more at GlobeNewswire: Torque Sensor Market Size to Surpass USD 12.07 Billion by