Key players in the Europe Torque Sensor Market include API Technologies Corporation, Epson Toyocom, Honeywell International Inc., Panasonic Corporation, Epcos, CTS Corporation and so on.
(PRWEB) April 24, 2015
The Europe torque sensor market report defines and segments the concerned market with analysis and forecast of revenue. This market was valued at $278.7 million in 2014, and is expected to reach $411.5 million by 2019, at a CAGR of 8.1% from 2014 to 2019.
Browse through the TOC of Europe torque sensor market for an analysis of industry trends, segments & forecasts.
Europe will become a potential market for torque sensors in the coming years due to technological advancements made in the field of torque sensing technologies.
The growing demand for better fuel efficiency is considered as the most significant driving factor influencing the growth of the Europe torque sensor market. The new Corporate Average Fuel Economy (CAFE) standards have put huge pressure on auto manufacturers to accelerate the development of electric and hybrid vehicles, as well as radically improve the fuel economy on their selling models. Varied auto companies are undertaking different initiatives to meet these rigid guidelines.
Due to this, torque sensors will see huge demand from the automotive sector for applications such as electronic transmission control, electronic driveline control, engine management, and steering torque management, among others. Major countries that have contributed towards the European torque sensor market are Germany, the U.K., France, and Italy.
Up-gradation to electric power steering systems has driven the Europe torque sensor market, as electric power steering systems are considered as one of the largest applications of torque sensors in the automotive sector.
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The European torque sensor market is segmented according type, application, and geography. By type, the market is segmented into rotary torque sensors, static/reaction torque sensors, magneto-elastic torque sensors, and SAW torque sensors. The major applications of torque sensors come from the automotive, industrial, test and measurement, aerospace and defense, and medical industries.
North America Torque Sensor Market
The importance of torque sensors across various applications has been recognized for many years. The use of strain gauge is one of the oldest and most widely used techniques of torque measurement being employed till date. But, recent advancements in torque sensing have led to the development of several new varieties of torque sensors.
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