Global Market for Precision Gearboxes
Global Torque Sensors Market
This graph represents the current and projected size of the global
market for torque sensors in 2015 and 2021. The current global
torque sensors market size stands at 1.1 billion U.S. dollars.
Torque sensors are devices used for measuring the torque of
The global precision gearbox industry share is driven by technological advancements to improve energy
efficiency. Speed reducers with higher torque, maintenance-free construction, smooth running,
compact design, high load capacity and lower costs are some of the characteristics of these products
which manufacturers are providing as their unique selling propostions. Emerging applications such as
robotics will create demand for highly precise movements fufilled by these products. Rising automation
requirements in the manufacturing sector will drive the precision gearbox market size for use in
assembly lines, controlling conveyor belts, bottling, packaging and precise positioning of products.
Global sales for 2015 were valued at
$1.85B and are expected to grow at
roughly 5.2% CAGR through 2024.
Source: Global Market Insights Inc.
2012 2013 2014 2015
2016 2017 2020 2021 2023 2023 2024 2018 2019
Germany’s share of the global precision gearbox market was
valued at valued at $259.22 million USD in 2015, and is also
expected to grow at a 5.2% CAGR.
Global torque sensors
market size in 2015 and 2021
Military & Aerospace
Food, Beverage & Tobacco