North America Torque Sensor Market, by Type, by Application, by Geography - Analysis & Forecast To 2019
LONDON, Oct. 10, 2017 /PRNewswire/ -- The North America torque sensor market is projected to grow at a CAGR of 7.3% from 2014 to 2019. This growth is primarily attributed to the increasing demand for better fuel efficiency, up-gradation to electric power steering systems, and rising trend towards condition-based maintenance.
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In this report, the North America torque sensor market has been broadly classified into types, such as rotary, static/reaction, magneto-elastic, and SAW. The rotary torque sensors segment is projected to grow at a CAGR of 6.6% from 2014 to 2019. Rotary sensors are mainly used for strain measurement, engine and chassis dynamometer, efficiency testing, clutch and gearbox testing among others.
Geographically, the U.S. is estimated to command the highest share of 61.8% in the North America torque sensor market, followed by Canada. Factors influencing its market growth include the increasing applications of torque sensors in engine and propulsion, as well as primary systems. With the increase in demand of small cars and up-gradation of electric power steering, the torque sensor market is progressing at a rapid pace.
Major players in the North America torque sensor market are Futek Advanced Sensor Technology, Inc., Honeywell, HBM, ABB Ltd., and Crane Electronics among others. New product launches and partnerships, agreements, collaborations, and joint ventures are the key growth strategies adopted by these leading players to sustain its position in the torque sensor market.
Customization Options:
Along with the market data, you can also customize MMM assessments that are in accordance to your company's specific needs. Customize to get comprehensive industry standard and deep-dive analysis of the following parameters:
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Product Analysis:
- Usage pattern (in-depth trend analysis) of products (segment-wise)
- Product matrix, which gives a detailed comparison of product portfolio of each company mapped at country and sub-segment level
- End-user adoption rate analysis of the products (segment-wise and country-wise)
- Comprehensive coverage of product approvals, pipeline products, and product recalls.
-Data from Manufacturing Firms:
- Fast turn-around analysis of manufacturing firms' responses to recent market events and trends
- Expert opinion about varied applications of torque sensors
- Qualitative inputs on macro-economic indicators and mergers & acquisitions in each geography.
-Comparative Analysis:
- Market data and key developments of top companies
-Shipment/Volume Data:
- Tracking the value of components shipped annually in each geography
-Trend analysis of Application:
- Application matrix, which gives a detailed comparison of application portfolio of each company, mapped in each geography
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