Europe Torque Sensor Market is Projected to Grow at a CAGR of 8.1%

Date: 2015-08-09

“The Europe torque sensor market is projected to grow at a CAGR of 8.1% from 2014 to 2019. The torque sensor market in Europe has occupied a market share of 26.6% in 2014. This growth is mainly attributed to varied factors, such as increasing demand for better fuel efficiency, up-gradation to electric power steering systems, and rising trend towards the adoption of condition-based maintenance. 

In this report, the European torque sensor market has been broadly classified on the basis of types into rotary, static/reaction, magnetoelastic, and SAW. The rotary torque sensors segment is progressing at a CAGR of 7.3% from 2014 to 2019. These sensors are utilized for varied applications including drive strain measurement, engine and chassis dynamometer, efficiency testing, and clutch and gearbox testing among others. 

Germany is estimated to command the highest market share of 31.2% in the Europe torque sensor market, followed by the U.K. One of the most significant factors influencing the growth of the torque sensor market in Germany is the growing adoption of torque sensor in end-user applications, such as engine and propulsion and primary systems. In addition to this, up-gradation of electric power steering has also contributed to the growth of the torque sensor market.  

As of 2014, the Europe torque sensor market is being dominated by numerous players, such as HBM, PCB Piezotronics, Applied Measurements, Futek Advanced Sensor Technology Inc., Kistler Instruments AG, ABB Ltd., and Honeywell International Inc. among others. New product launches, partnerships, agreements, collaborations, and joint ventures are the major strategies adopted by leading players in the torque sensor market.    

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