Companies and Markets has introduced a new report on the global torque sensors market. The report has predicted that the worldwide torque sensors market would reach $1066.3 billion by the year 2016. Their market value in 2010 was $647.1 million.
Torque sensors have the ability to measure force, which is the outcome of any rotation or twisting movement. They can be used in several applications in the automotive, test and measurement, industrial, medical, aerospace and other fields, which would promote growth in the market. The automotive torque sensors segment has shown the maximum growth in terms of revenue generation in recent years. The non-contact and reaction sensors segment also showed a strong growth in the period 2007-2010. Development of wireless torque sensors as well as the industrial, medical and test and measurement segments are expected to promote growth and expand the torque sensor industry in the future.
The torque sensors market is extremely competitive with several players competing for a share in the global market. Most of the companies concentrate on the development of torque sensors for multiple applications. Delphi and Measurement Specialties, Teledyne Instruments, Siemens VDO, FUTEK Advanced Sensor Technology, Honeywell Sensing and Control and ATI Industrial Automation are the key Tier I torque sensors market players.
The report consisting of 124 pages offers a strategic analysis of the global torque sensors market along with forecast and historic data for the period 2007-2017. The report also incorporates data about the type and system of industry participants. Information is provided in the form of graphs and charts along with supporting commentary, split in terms of product segment and geography.
Source: http://www.companiesandmarkets.com