Global Torque Sensor Market
The GMI Research forecasts that the Torque Sensor Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the escalation in demand for high-performance vehicles, accelerating penetration of EPS in passenger vehicles, and surge in demand for new measurement technologies.
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Introduction of the Torque Sensor Market
A torque sensor, also known as torque transducer, is a device to measure and record forces on a rotating system, such as an engine, crankshaft, gearbox, transmission, rotor, bicycle crank, or cap torque tester. It is a transducer that converts a mechanical input into an electrical output signal.
Key Players of the Global Torque Sensor Market:
ABB
FUTEK Advanced Sensor Technology, Inc.
Crane Electronics Ltd
Honeywell International Inc.
HBM
Sensor Technology Ltd
Norbar Torque Tools Ltd
Applied Measurements Ltd.
Kistler Group
Infineon Technologies AG
Torque Sensor Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Augmenting demand for electric and hybrid automobiles along with their diverse applications across several industry verticals, which include automotive, industrial, and aerospace, are the prominent drivers responsible for the growth of the global Torque Sensor Market. Also, the increasing need for electric power steering (EPS) systems and the better accuracy imparted by these sensors will further strengthen the market size. They are lodged across an extensive range of applications, such as torsional test machines, motor dynamometers, electric motors, fans, and hydraulic pumps. The installation of reaction sensors is economical as they do not include slip-rings, bearings, or other rotating parts. Rotary sensors are mainly used for electric motor, dynamometer, gearbox, automotive engine testing, and drive train measurements. Thereby, all these factors together will support the market growth.
Furthermore, the widespread outbreak of the coronavirus pandemic negatively influenced the market growth owing to the reduction in the demand for motor vehicles and fewer aircraft orders due to travel restrictions and insufficient consumer confidence. Also, these sensors are used in automotive and aerospace & defense applications and could be highly impacted due to the inadequate functioning of these industries. However, their less reliability in high-end applications is restraining the market growth.
Type Segment Drivers
Based on the Type, Rotary is contemplated to witness a faster growth in the near future owing to their different uses in several machines like vehicles, motors, and robots. The advantages proffered by them include low noise, and increased response times, high stiffness, and RPM ratings. Moreover, the extensive usage of compact and lightweight robots with increased range further drives the market growth. They are suitable for low torque and high bandwidth measurement, which provide benefits like high-speed, low inertia, and faster data throughput,
Application Segment Drivers
Based on the Application, Automotive is predicted to witness higher growth over the coming years. This is primarily attributed to their utilization by companies for calibrating automatic transmissions, mapping engine torque, testing clutches and gearboxes, measuring strain, and determining the dynamic torque in an engine. Their assistance in estimating strain, testing of major components accompanied by the rigorous emission regulations, changing buyer preference, and electrification technology are likely to pave the way for market growth.
Regional Drivers
Based on the regional coverage, Asia-Pacific will account for the largest market share. China is accounted to be the largest vehicle manufacturer in the world, with Japan and South Korea being the major exporters of automobiles. The automotive vertical led by large-scale manufacturing and heavy investments in new vehicle technologies will play an important role in the market growth. The increasing need for energy production and large-scale manufacturing of various types of goods for export further paves the way for market growth.
Torque Sensor Market Segmentation:
Segmentation by Type
Rotary Torque Sensors
Reaction Torque Sensors
COVID-19 impact on types of torque sensors
Segmentation by Technology
Strain Gauge
Surface Acoustic Wave (SAW)
Optical
Magnetoelastic
Segmentation by Application
Automotive
Test & Measurement
Industrial
Aerospace & Defense
COVID-19 impact on diferent application areas of torque sensors
Other
Segmentation by Region:
North America
United States of America
Canada
Asia Pacific
China
Japan
India
Rest of APAC
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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