Torque Sensor Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4265
Torque Sensor Market size is likely to expand exponentially in the coming years driven by increasing need for torque measurement in mechanical and electrical systems. These devices are mainly used to measure the torque level in several machinery used in manufacturing automobile, huge production systems, and power generation machines. Devices, such as pumps and turbines, incorporate these sensors in large amounts to continuously measure the amount of torque produced and maintain it to the required level, further supporting the industry demand. Industrial standards, such as the ISO 9000 mandate torque measurement, are applied for quality control in all types of devices and machinery.
The growing implementation of robotic grippers in industrial activities is driving the industry demand. Force transducers are designed to fit in between the robot wrist and tool that controls the torque level produced in arms. Industrial product testing techniques are getting improvised and upgraded at a fast pace to provide increased product quality. Product testing includes the integration of torque sensors, allowing robots to have repeatable and recordable force data that can be monitored and adjusted.
Factors, such as high cost of torque transducers, for implementing in small machinery hinder the torque sensor market demand. Lack of sensor reliability in major applications, such as engine testing, transmission testing, and chassis performance measurement, is lowering the demand for such components. Frequent failures occurring in machines due to these meters stop the operation, eventually reducing the reliability and performance. Manufacturer’s lack of knowledge about the importance of implementing these components in all types of machines and robots to maintain the force level produced reducing the torque sensor market demand.
A major trend in the industry is the development of contactless hall effect components for electric power steering. These innovations are majorly used in the electric power-assisted steering applications, offering the ability to measure the shift angle between two rotating shafts and improving the steering performance. The emergence of electronic torque transducers in power steering aid in improving the fuel efficiency of vehicles by using electrical steering systems. The increased implementation of built-in force transducers in harmonic devices is fueling the industry demand.
Rotary sensors are expected to witness the highest growth in the torque sensor market owing to their varied applications in several machines such as vehicles, motors, and robots. The benefits offered by rotating meters include low electrical noise, high stiffness, high RPM ratings, and increased response times. The optical torque component demand in the torques sensor market is increasing rapidly. The growth of this segment is attributed to its major applications in compact and lightweight robots with increased range. These components are suitable for low torque and high bandwidth measurement and provide benefits such as high-speed, low inertia, and faster data throughput.
The growth in the automotive segment can be attributed to the rising implementation of these components in electric vehicles, steering systems, and dynamometers. In addition, these components are used in strain measurement, clutch testing, and dynamic force measurement in engines. Moreover, the aerospace & defense segment in the torque sensor market will witness rapid growth in the upcoming years considering the rising utilization in aircraft.
The North America torque sensor market is anticipated to witness growth over the forecast timeline due to the presence of huge automobile and industrial sectors, the largest consumers of torque transducers. Increasing government standard for high-quality products is further fueling the market demand and is also expected to consume huge amounts of these components over the forecast years. The development of the industrial and consumer electronics sector coupled with the presence of largest automotive manufacturing facilities in Asia Pacific countries including India, China, South Korea, and Japan will support the industry development.
Some players in the torque sensor market are Honeywell Sensing and Control, HBM: Test & Measurement, ABB, PCB Piezotronics, Inc., Teledyne Technologies, and Futek Advanced Sensor Technology. Several players in the industry adopted strategies, such as new product development & innovation, merger, acquisition, collaboration, and partnership, to sustain the high industry competition. For instance, Teledyne Technologies launched its non-contact torque sensor that is designed for its installation between power source and load to accurately measure the torque.
The torque sensor market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2015 to 2025 for the following segments:
- Rotary Sensors
- Reaction Sensors
- Super Acoustic Wave (SAW) Sensor
- Magnetoelastic Sensors
- Optical Sensor
- Test & Measurement
- Aerospace & Defense
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
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