Global Market Study on Torque Sensors: Rotary Torque Sensors Expected To Be the Most Valuable Product Type Segment Throughout the Forecast Period


  • Published On : Dec-2015 |
  • Pages : 241 Pages |
  • Format :

Torque sensors, also called as torque transducers, are used commonly for measuring the torque of the rotating systems. Torque measurement and monitoring are an important parameter in all machines and engines.

To understand and assess the opportunities in this market, the report is segmented into four sections, namely, market analysis by product type, mechanical configuration, application, and region. The report provides information about the key trends, drivers, and restraints influencing the growth of the global torque sensor market currently. Impact analysis of key growth drivers and restraints, based on the weighted average model, is included in this report to better equip clients with crystal clear decision-making insights.

The report starts with an overview and introduction of the global torque sensor market and market segments. In the same section, PMR offers insights about the global torque sensor market performance in terms of value.

The torque sensor market is segmented as follows:

  • By Product Type
  • By Mechanical Configuration
  • By Application
  • By Region

On the basis of product type, the torque sensor market is segmented as follows:

  • Rotary Torque Sensor
  • Reaction/ Static Torque Sensor
  • Optical Torque Sensor
  • Surface Acoustic Wave (SAW) Torque Sensor
  • Other - Magnetoelastic Torque Sensor

Of these, the rotary torque sensor segment accounted for the highest value share of the global torque sensor market in 2014. The global torque sensor market is mainly driven by factors such as emerging applications of torque sensors, rising demand for precise torque measurement technology, and high demand from the automotive application segment. Major trends observed in the global torque sensor market include the development of non-contact & wireless sensors, growing adoption of quality standard specifications (such as ISO 9000), and strict government regulations related to machine safety in developed countries.

The report also comprises a section that analyzes the market on the basis of mechanical configuration and evaluates the market size in terms of value for the forecast period. 

On the basis of mechanical configuration, the torque sensor market is segmented as follows:

  • Shaft Style
  • Flange Style

Of the above segments, in terms of value, the flange style segment is expected to expand at the highest CAGR during the forecast period.

On the basis of application, the torque sensor market is segmented as follows:

  • Automotive & Transportation
  • Aerospace & Defense
  • Medical & Healthcare
  • Other – Oil & Gas

Of these, the automotive & transportation segment is expected to contribute highest revenue to the global torque sensor market as compared to the other application segments. However, despite being the largest contributor to the global torque sensor market, the segment is expected to expand at a slower CAGR as compared to the other application segments

Leading market participants are focusing more on the development of innovative products in order to offer advanced solutions to their customers. For example, in June 2013, ATI Industrial Automation, Inc., launched Wireless F/T for up to six ATI multi-axis force/torque transducers, which can be powered by internal battery as well as an external power source

The report also analyzes the market across various key regions and evaluates market size in terms of value for the forecast period (2015–2021).

Regions covered in the report are as follows:

  • North America
  • Asia Pacific
  • Europe
  • The Middle East & Africa
  • Latin America

Of the aforementioned segments, APAC is expected to dominate the market, accounting for 31.9% value share of the overall market by the end of 2015 and it is expected to remain dominant through 2021. However, the Middle East & Africa market is anticipated to expand at the highest CAGR during the forecast period.

Torque sensor is a device used for measuring the torque of the rotating systems, such as electric motors, engine, gearbox, craft shifts, etc. Torque measurement and monitoring is an important parameter in all machines and engines.

The global torque sensor market is expected to witness significant growth over the forecast period, due to emerging applications of the torque sensor, increasing demand for precise torque measurement technology, and high demand from the automotive application segment. On the other hand, technological challenges due to diversity in applications of torque sensors are expected to be the major restraining factor for the growth of the global torque sensor market during the forecast period.

In 2014, the rotary torque sensor segment dominated the global market, and it is estimated to account for more than 53% share of global torque sensor market by 2015 end. This segment is expected to remain dominant throughout the forecast period. However, by 2021, the segment is expected to lose its market share to other product type segments due to a development of new torque sensing technologies. By the end of 2021, the rotary torque sensor segment is expected to lose 410 BPS to other product type segments.

Rotary torque sensors are used widely in automotive applications. Some of the important applications of rotary torque sensors in the automotive industry include: for automotive engine testing, electric motor testing, efficiency testing, etc. Additionally, the rotary torque sensor segment is also witnessing a trend of a launch of advanced product offerings by key market players in order to cater to the emerging needs of customers.

On the basis of regions, the global torque sensor market is segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). By 2015 end, revenue generated by the rotary torque sensor segment is estimated to be the highest among all the regions. The rotary torque sensor segment in the MEA region is expected to expand at the highest CAGR from 2015 to 2021.

The global torque sensor market report also includes the company profile and competitive landscape of the key market players. It covers strategies adopted by key players, their recent developments and brief product description. This information will be useful for clients to compare the market players on different parameters.

torque-sensors-market

The report on the global torque sensor market profiles key market players, including:

  • ABB Ltd.
  • ATI Industrial Automation, Inc.
  • FUTEK Advanced Sensor Technology, Inc.
  • Interface Inc.
  • Honeywell International Inc.
  • Crane Electronics Ltd.
  • Kistler Holding AG.
  • HBM GmBH.
  • Sensor Technology Ltd.
  • Datum Electronics Limited.
  • Other.
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