Torque Sensors Market - Forecast(2021 - 2026)
Torque Sensor Market Overview The global Torque Sensor Market is estimated to grow at a CAGR of 7.1% during the forecast period 2018–2023. The APAC Torque Sensor market is forecast to grow at the highest CAGR of 7.9% during the forecast period owing to the rise of the robotics sector in this region. Torque Sensor Market Outlook A torque sensor or a torque transducer is a device for measuring the torque of an engine or a rotating device. It converts mechanical input into an electrical output signal. According to IndustryARC findings, the Rotary Torque Sensor segment is estimated to grow at a CAGR of 7.1% during the forecast period. The growing demand for rotary torque sensors in the automotive sector coupled with increased testing of engine and other automotive parts is helping the market grow. Torque Sensor Market Growth Drivers The growth of Industry 4.0 has considerably increased the usage of different types of sensors. Increasing usage of rotary torque sensors in industrial autom