TORQUE SENSORS MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Electrification of vehicles

Rapid electrification  in automotive sector can drive the market growth. As more automakers shift focus towards developing electric, hybrid, and fuel cell vehicles, there is increasing reliance on torque sensors compared to traditional combustion engines. Key EV components like motors, gearboxes, drivetrains and battery packs require precise torque measuring for optimum performance and safety. Torque sensor plays a vital role in smooth acceleration and efficient energy transmission in electric powertrains. Advanced driver-assistance systems and autonomous driving functionalities also depend on the accurate interpretation of drive train torque levels. Moreover, growing demand for alternators, starter motors and other auto parts with integrated torque detection can boost widespread usage of torque sensing technology. Hybridization of existing vehicles using technologies such as start-stop and mild hybridization can also boost demand for torque sensors. The electrification megatrend in the automotive industry provides a revenue stream for torque transducer manufacturers.