The global Magneto Elastic Torque Sensor Market is projected to grow at a CAGR of 9.9% during the forecast period and reach USD 225.68 Million by 2030.
Magneto Elastic Torque Sensor Market Overview:
Torque/load sensors will play an increasingly important role in many applications, consistent with its numerous advantages, such as cost-effectiveness and a well-defined infrastructure for volume manufacturing. They support key benefits such as increased efficiency, operational safety, weight reduction, increased productivity and cost savings. Magneto elastic torque sensors are true non-contact sensors that outperform obsolete strain gauge-based solutions in terms of cost structure and robustness. Recently, manufacturers have developed viable, commercially proven alternatives in many industrialized sectors with demanding requirements.
The demand for accurate torque measurement solutions is growing in an impressive manner and supports the huge growth potential of torque sensors. In addition, the rapid development of industrial manufacturing and R&D places higher demands on the accuracy standards of all measuring instruments. Therefore, industrial test systems need to become increasingly reliable and accurate to keep pace with the industrial developments that have occurred in recent years. Current trends in the torque sensor market such as electric vehicles and reduced emissions from internal combustion engines reinforce the market demand for higher accuracy dynamic torque measurement devices. Furthermore, increase in mechanical output, improvement in efficiency, energy saving, and reduction in environmental pollution are all becoming more and more important in the magneto elastic torque sensor market.
Magneto Elastic Torque Sensor market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Magneto Elastic Torque Sensor market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
The global Magneto Elastic Torque Sensor market is the professional and accurate study of various business perspectives such as major key players, key geographies, divers, restraints, opportunities, and challenges. This global research report has been aggregated on the basis of various market segments and sub-segments associated with the global market.
- In September 2017, the Kistler Group acquired Corrsys-Datron Sensor system GmbH. The acquisition enables Kistler to complete its range of measurement systems for vehicle dynamic testing in automotive development.
Top Key Players include in the Magneto Elastic Torque Sensor Market are
Honeywell, ABB, Texas Instruments, Applied Measurements, HITEC Sensor, Crane Electronics, Kistler, MagCanica, Methode Electronics, and others.
The Magneto Elastic Torque Sensor market research report is categorized based on type, applications and region.
On the Basis of Type:
On the Basis of Application:
- Aerospace & Defense
- Research & Development
On the Basis of Region:
Geographically, the global Magneto Elastic Torque Sensor market has been analyzed in various regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, Europe, and India. The global Magneto Elastic Torque Sensor region is dominating this market in the upcoming future.
Further the regions are divided into countries as follows
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Magneto Elastic Torque Sensor Market report scope
The major key questions addressed through this innovative research report:
What is the CAGR of the global Magneto Elastic Torque Sensor market?
The Magneto Elastic Torque Sensor Market is growing at a CAGR of 9.9% During Forecast Period.
Which Is the Most potential market segment?
By Types- Dynamic Type, Static Type
By Applications - Automotive, Aerospace & Defense, Research & Development, Industrial, Others
Which are the top industry players in the Magneto Elastic Torque Sensor market?
Honeywell, ABB, Texas Instruments, Applied Measurements, HITEC Sensor, Crane Electronics, Kistler, MagCanica, Methode Electronics
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