Key players in the Latin America Torque Sensor Market are Futek Advanced Sensor Technology (U.S.), HBM (Germany), Honeywell (U.S.), Kistler Instrumente AG (Switzerland), MagCanica (U.S.), PCB Piezotronics (U.S.) & others.
(PRWEB) September 14, 2014
The Latin America Torque Sensor Market report defines and segments the market for torque sensors in Latin America with analysis and forecast of revenue.
Browse through the TOC of the Latin America Torque Sensor Market report, to get an idea of the in-depth analysis provided. This also provides a glimpse of the segmentation of the Latin American torque sensor market, and is supported by various tables and figures.
The torque sensor market in Latin America is segmented on the basis of different types of sensors used, such as rotary, static/reaction, magnetoelastic, surface acoustic wave (SAW), and optical. Further, the torque sensor market in this region is segmented into various applications, namely automotive sensors, industrial manufacturing, test & measurement, aerospace and defense, medical, and others.
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Latin America is the fastest-growing region in the torque sensor market, projected to grow at a CAGR of 10.1% for the given forecast period. This growth is mainly attributed to the developing economies in the region, such as Brazil and Argentina. In Latin America, Brazil is the market leader for torque sensors in terms of consumption. The main reason behind this is the upgradation to electric power steering (EPS) systems, as this is one of the largest applications of torque sensors in the automotive sensor. An EPS uses an electric motor for assisting the driver of the vehicle, which allows for different amounts of assistance to be applied depending on the driving conditions. They also eliminate the use of belt-driven engine accessory and several high-pressure hydraulic hoses between the hydraulic pump and the steering gear, thereby contributing heavily to fuel efficiency.
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The report profiles all the major companies involved in this segment, covering their entire product offerings, financial details, strategies, and recent developments. The current and future trends for this region have been analyzed. The report also highlights all the drivers, restraints, and opportunities for the Latin America torque sensor market.
North America Torque Sensor Market
Torque measurement is required for technological applications such as engine and transmission testing, turbine testing, pump testing, and measurement of power within propulsion systems. Torque sensors are devices used to measure torque produced by rotating systems in crankshaft, bicycle crank, transmissions, helicopter tail rotor and engine. Automobile is the leading application in the torque sensors market which constitutes about 30% of the market share. Also, process monitoring is the major industrial application in this segment.
Asia-Pacific Torque Sensor Market
Torque sensors are devices used to measure torque produced by rotating systems in crankshaft, bicycle crank, transmissions, helicopter tail rotor and engine. Torque measurement is required for technological applications such as engine and transmission testing, turbine testing, pump testing, and measurement of power within propulsion systems. The latest development in wireless and non-contact torque sensors like optical torque, magnetoelastic, and acoustic wave (SAW) will increase the use of torque sensors in various verticals. In future, SG technique is supposed to be the main technology for torque sensors.
The APAC torque sensor market is expected to grow from $ 288.8 million in 2013 to $ 441.7 million by 2018, at an estimated CAGR of 8.9% from 2013 to 2018. Asia Pacific region indicates the fastest growth in the torque sensors market among others. The growth is mainly attributed to emissions and safety requirements inflicted by governing bodies in APAC region.
Europe Torque Sensor Market
Torque sensors are devices used to measure torque produced by rotating systems in crankshaft, bicycle crank, transmissions, helicopter tail rotor and engine. Torque measurement is required for technological applications such as engine and transmission testing, turbine testing, pump testing, and measurement of power within propulsion systems.
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