Electronic Torquemeter Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

A torquemeter, also known as a torque transducer, is a device that measures and records the torque, or force, applied to a rotating system such as an engine, crankshaft, gearbox, transmission, rotor, bicycle crank, or cap torque tester. A torquemeter is a type of transducer that converts mechanical input into electrical output. Static and dynamic torquemeters are the two types of torquemeters. Torque measurement is important for process control and monitoring.

MARKET SCOPE

The "Global Electronic Torquemeter Market Analysis to 2031" is a specialized and in-depth study of the electronic torquemeter Market with a special focus on the global market trend analysis. The report aims to provide an overview of electronic torquemeter market with detailed market segmentation by type and application. The global electronic torquemeter market expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading electronic torquemeter market player and offers key trends and opportunities in the electronic torquemeter market.

MARKET SEGMENTATION

- Based on type the market is segmented as, dynamic and static.
- Further, on the basis of application the market is segmented as, automotive, industrial, aerospace and defense and others.

MARKET DYNAMICS

Drivers-
- The electronic torquemeter market is growing due to increased demand for high-performance vehicles, increased EPS penetration in passenger vehicles, and a surge in demand for new measuring methods.
- The growing usage of torquemeters in the healthcare sector, as well as the evolution of torquemeter use in industrial applications, present lucrative potential possibilities for the market.
Restraints-
- The electronic torquemeter market's growth is restrained by high cost of the electronic torquemeters and their installation.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global electronic torquemeter market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The electronic torquemeter market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting electronic torquemeter Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the electronic torquemeter market in these regions.
IMPACT OF COVID-19 ON ELECTRONIC TORQUEMETER MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The reports cover key developments in the electronic torquemeter market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from electronic torquemeter market are anticipated to lucrative growth opportunities in the future with the rising demand for electronic torquemeter market. Below mentioned is the list of few companies engaged in the electronic torquemeter market.

The report also includes the profiles of key electronic torquemeter market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

- Crane Electronics
- DATUM ELECTRONICS
- PCE Deutschland GmbH
- Honeywell
- ABB
- FUTEK Advanced Sensor Technology
- Applied Measurements
- Kistler Holding
- Norbar Torque Tools
- MagCanica

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Electronic Torquemeter Report Scope