Because of the introduction of new applications, the worldwide torque sensor market has grown significantly over the last five years. In engine and transmission testing, pump testing, turbine testing, and power measurement in propulsion systems, torque measurement is critical. Torque sensors are used in many areas of the automotive industry, including chassis performance, steering systems, dynamometers, transmissions, and drivelines.
The trend toward the adoption of electric vehicles, the upgrade to an electric power steering system, the move toward condition-based maintenance, and the requirement for higher fuel efficiency are some of the significant drivers for the torque sensors market. Over the forecast period, the lack of dependable sensors catering to high-end applications is projected to limit the torque sensor market's growth.
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