North America Torque Sensor Market is Expected to Reach $422.4 million in 2018 - New Report by MicroMarket Monitor
(PRWEB) September 11, 2014 -- The North America Torque Sensor Market report defines and segments the market for torque sensors in North America with analysis and forecast of revenue.
Browse through the TOC of the North America Torque Sensor Market report, to get an idea of the in-depth analysis provided. This also provides a glimpse of the segmentation of torque sensor market, and is supported by various tables and figures.
http://www.micromarketmonitor.com/market/north-america-torque-sensor-4953569252.html
The torque sensor market in North America is segmented on the basis of different types of sensors used, such as rotary, static/reaction, magnetoelastic, surface acoustic wave (SAW), and optical. Rotary and reaction torque sensors together accounted for approximately 86% of the total market in this region. Further, the torque sensor market in North America is segmented into various applications, namely automotive sensors, industrial manufacturing, test & measurement, aerospace and defense, medical, and others.
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North America is one of the most technically advanced application markets for torque sensors due to the presence of prominent system suppliers, large semiconductor companies, competitive aerospace & defense, and medical OEMs in this region. Medical applications, which is currently a niche market for torque sensors, is expected to witness considerable growth with the emergence of medical robotics and the increasing demand for better healthcare services among consumers.
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The introduction of electric vehicles is the major driver of torque sensor market in North America, as electric vehicles are expected to become the next frontier of the global auto industry with the fuel prices rising. In the U.S., the Corporate Average Fuel Economy (CAFE) standards mandate an average fuel economy of 29 miles per gallon, with gradual increases to 35.5 miles per gallon by 2016. These standards were revised last year, mandating the average fuel economy of 54.5 miles per gallon for the 2025 model year. With these initiatives, many automakers are counting on consumers shifting to all-electric models. Major manufacturers are increasingly offering electric and hybrid car options. Therefore, with the rising fuel prices, a major shift in paradigm could be seen in the automotive market.
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 European torque sensor market.
Related Reports:
Latin 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. 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.
http://www.micromarketmonitor.com/market/latin-america-torque-sensor-7321080471.html
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.
The Europe torque sensor market is expected to grow from $257.2 million in 2013 to $381.1 million by 2018, at an estimated CAGR of 8.2% from 2013 to 2018. In Europe, U.K. is the major market for torque sensors followed by Germany. In future, SG technique is supposed to be the main technology for torque sensors. 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.
http://www.micromarketmonitor.com/market/europe-torque-sensor-1214389037.html
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.
http://www.micromarketmonitor.com/market/asia-pacific-torque-sensor-7348684454.html
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