Torque Sensor Market

Introduction of the Torque Sensor Market Report

A torque sensor is equipment utilized for measuring and recording the torque of a rotating system such as engines, electric motors, gearboxes, crankshafts, and others. In all the engines and machines, the most important parameter is torque that requires continuous monitoring and measurement. Thus, torque sensors help in measuring the torque and thereby ensure performance optimization and high quality of the systems or machines.

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Market Dynamic

Key Drivers and Emerging Trends

Torque sensors have diverse applications across various industry sectors such as automotive, industrial, aerospace, among others. Increasing demand for electric and hybrid automobiles all over the globe coupled with the growing need for electric power steering (EPS) systems is driving the Torque Sensor Market. The torque sensors are accommodated in a wide variety of applications, including torsional test machines, motor dynamometers, electric motor testing, fan testing, hydraulic pump testing, among others. The installation of reaction torque sensors is economical as these do not comprise slip-rings, bearings, or other rotating parts. However, rotary torque sensors render high accuracies and (revolutions per minute) RPM ratings. Rotary torque sensors are employed for electric motor testing, dynamometer testing, gearbox testing, automotive engine testing, and drive train measurements. Hence, these are the factors influencing the growth of global torque sensors market.

Impact of COVID-19 on Torque Sensor Market

The outbreak of novel Coronavirus pandemic have a varying impact on different types of torque sensors. The market for torque sensor types used in the automotive and aerospace & defense applications could be highly affected due to the considerable impact of the pandemic on the functioning of these industries. Moreover, the automotive and aerospace & defense industries are the major end users of these sensors. Both these industries have been negatively impacted due to the decline in demand for motor vehicles and reduced number of aircraft orders due to travel restrictions and lack of consumer confidence.

Restraint in the Torque Sensor Market

However, low reliability of available torque sensors in high-end applications is a major restraining factor for the growth of the Torque Sensor Market.

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Type – Segment Analysis

Based on the Type, the Rotary Torque Sensors segment is expected to grow at a higher CAGR during the forecast period. Rotary sensors are expected to observe the highest growth in the torque sensor market owing to their diverse applications in several machines such as vehicles, motors, and robots. The advantages 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 rising rapidly. The growth of this segment is attributed to its major usage in compact and lightweight robots with increased range. These components are suitable for low torque and high bandwidth measurement which provide benefits such as high-speed, low inertia, and faster data throughput.

Application – Segment Analysis

Based on the Application, the Automotive segment is expected to grow at a higher CAGR during the forecast period. Most automobile companies use torque sensors for calibrating automatic transmissions and mapping engine torque. It is also used for testing clutches and gearboxes, as well as measuring strain and determining the dynamic torque in an engine. Rotary torque sensors are used for estimating strain, testing of major components, including clutch and gearboxes, and dynamic torque within the engine. Strict emission regulations, shifting buyer preference, and electrification technology are expected to have a large impact on the demand and use of torque sensors for automotive applications which is aiding to the higher growth of torque sensors market share.

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Regional – Segment Analysis:

Based on the region, the Asia-Pacific region is projected to dominate the market during the forecast period. China is the largest vehicle manufacturer in the world. Japan and South Korea are also the major exporters of automobiles all over the globe. Due to large-scale manufacturing and heavy investments in new vehicle technologies, the automotive vertical is expected to play an essential role in the growth of the torque sensor market in this region. It is also predicted that this region is expected to be the largest market for applications in industries. The increasing need for energy production and large-scale manufacturing of various types of goods for export are facilitating the market for torque sensors.

Top Market Players

Various notable players operating in the market include ABB, Crane Electronics Ltd, FUTEK Advanced Sensor Technology, Inc., HBM, Applied Measurements Ltd., Honeywell International Inc., Kistler Group, Sensor Technology Ltd, Norbar Torque Tools Ltd, Infineon Technologies AG, among others. 

Key Developments:

• In 2020, HBM originated a new torque transducer T40CB focuses on a central borehole that makes it suitable for testing automobile parts in confined spaces.
• In 2020, Kistler Group partnered with Vehico (Germany), a producer of driving robots and vehicle control systems for vehicle testing. As a result of this partnership, an extensive package of sensor technologies and driving robots will now be offered to Vehico from a single source.

Segments covered in the Report:

The global Torque Sensor market has been segmented on the basis of Type, Technology, Application, and regions. Based on Type, the market is segmented into Rotary Torque Sensors, Reaction Torque Sensors and COVID-19 impact on types of torque sensors. Based on Technology, the market is segmented into Strain Gauge, Surface Acoustic Wave (SAW), Optical and Magnetoelastic. Based on Application, the market is segmented into Automotive, Test & Measurement, Industrial, Aerospace & Defense, COVID-19 impact on different application areas of torque sensors and Other. 

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Key questions answered in this research report:

• • At what pace is global Torque Sensor market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Torque Sensor market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Torque Sensor market?
  • Which Type generated maximum revenues in 2019 and identify the most promising Type during the forecast period?
  • What are the various Technology areas of global Torque Sensor market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Torque Sensor Market by Type

• • Rotary Torque Sensors
  • Reaction Torque Sensors
  • COVID-19 impact on types of torque sensors

Global Torque Sensor Market by Technology

• • Strain Gauge
  • Surface Acoustic Wave (SAW)
  • Optical
  • Magnetoelastic

Global Torque Sensor Market by Application

• • Automotive
  • Test & Measurement
  • Industrial
  • Aerospace & Defense
  • COVID-19 impact on diferent application areas of torque sensors
  • Other

Global Torque Sensor Market by Region

• • North America Torque Sensor Market (Option 1: As a part of the free 25% customization)
    • North America Torque Sensor Market by Type
    • North America Torque Sensor Market by Technology
    • North America Torque Sensor Market by Application
    • US Torque Sensor Market All-Up
    • Canada Torque Sensor Market All-Up
  • Europe Torque Sensor Market (Option 2: As a part of the free 25% customization)
    • Europe Torque Sensor Market by Type
    • Europe Torque Sensor Market by Technology
    • Europe Torque Sensor Market by Application
    • UK Torque Sensor Market All-Up
    • Germany Torque Sensor Market All-Up
    • France Torque Sensor Market All-Up
    • Spain Torque Sensor Market All-Up
    • Rest of Europe Torque Sensor Market All-Up
  • Asia-Pacific Torque Sensor Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Torque Sensor Market by Type
    • Asia-Pacific Torque Sensor Market by Technology
    • Asia-Pacific Torque Sensor Market by Application
    • China Torque Sensor Market All-Up
    • India Torque Sensor Market All-Up
    • Japan Torque Sensor Market All-Up
    • Rest of APAC Torque Sensor Market All-Up
  • RoW Torque Sensor Market (Option 4: As a part of the free 25% customization)
    • RoW Torque Sensor Market by Type
    • RoW Torque Sensor Market by Technology
    • RoW Torque Sensor Market by Application
    • Brazil Torque Sensor Market All-Up
    • South Africa Torque Sensor Market All-Up
    • Saudi Arabia Torque Sensor Market All-Up
    • UAE Torque Sensor Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Torque Sensor Market All-Up

Major Players Operating in the Torque Sensor (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ABB
  • Crane Electronics Ltd
  • FUTEK Advanced Sensor Technology, Inc.
  • HBM
  • Applied Measurements Ltd.
  • Honeywell International Inc.
  • Kistler Group
  • Sensor Technology Ltd
  • Norbar Torque Tools Ltd
  • Infineon Technologies AG