Global Torque Sensors Market Driven by Emerging Applications of Torque Sensors
Published On : Jan 06, 2016
Torque sensors, also known as torque transducers, are commonly used for determining the torque of rotating systems such as engines, craft shifts, electric motors, gearbox, and others. Torque monitoring and measurement are the essential parameters in all engines and machines. The global torque sensors market is segmented on the basis of product type, application, region, and mechanical configuration. Based on product type, the global tsorque sensors market is classified into rotary torque sensor, reaction/static torque sensor, optical torque sensor, surface acoustic wave torque sensor, and others. In 2014, in terms of value, the global torque sensors market was led by the rotary torque sensors segment.
Flange Style Torque Sensors Segment to be Major Influencer by 2021
The global torque sensors market is primarily driven by factors such as emerging applications of torque sensors and increasing demand for precise torque measurement technology. The growing demand for torque sensors from the automotive application segment is expected to propel the global torque sensors market during the period from 2015 to 2021. Based on mechanical configuration, the global torque sensors market is classified into flange style and shaft style. In terms of value, in 2014, the flange style torque sensors segment dominated the global torque sensors market and is predicted to rise at the highest CAGR during the period between 2015 and 2021.
Some of the major trends observed in the global torque sensors market are an increasing adoption of quality-standard specifications, strict government regulations regarding machine safety, and development of wireless and non-contact sensors. By application, the global torque sensors market is classified into aerospace and defense, automotive and transportation, medical and healthcare, and others. In terms of revenue, the global torque sensors market is expected to be dominated by the automotive and transportation segment by 2021.
Asia Pacific to Offer Maximum Scope for Torque Sensor Applications
By geography, the global torque sensors market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. By 2015, in terms of value, the global torque sensors market was dominated by Asia Pacific. The Asia Pacific torque sensors market is predicted to account for 31.9% of the total market and is expected to maintain its dominant position until 2021. The Middle East and Africa torque sensors market is predicted to expand at the highest CAGR during the period from 2015 to 2021.
The leading players in the global torque sensors market are concentrating on the development of new products so as to offer new solutions to the customers in the years to come. In June 2013, ATI Industrial Automation, Inc. introduced wireless F/T for six ATI multi-axis force/torque transducers, which can be either powered by using internal battery or an external power source.
ABB Ltd., FUTEK Advanced Sensor Technology, Inc., Honeywell International Inc., Kistler Holding AG, Sensor Technology Ltd., Datum Electronics ltd., ATI Industrial Automation, Inc., Interface Inc., Crane Electronics Ltd., and HBM GmBH are the leading players in the global torque sensors market. Technological challenges are predicted to restrict the growth of the global torque sensors market in the years to come.
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