Torque Sensors
The global market for Torque Sensors is forecast to reach US$1.7 billion by 2024, driven by the importance of torque measurement in heavy machinery manufacturing including motors, compressors, pumps, power generating/consuming equipment, automobiles, etc. In the automotive industry, torque sensor measurements are used prior to the assembly process and are used for testing combustion engines and transmission systems during the development stage. Accurate torque calibration is also equally important in research & development when new materials, processes and assembly techniques are in the process of being developed; during inspection and quality control to reduce pre-production errors and downtime; during production to safeguard against time, money, materials and labor wastages due to re-working; and during equipment servicing. The growing pressure to design more fuel efficient vehicles coupled the strict emission regulations are making the significance of torque as a measured quantity even higher and more critical in automobile engineering and production. Accurate torque measurement and calibration helps build better engines enhanced mechanical performance including higher rotation and acceleration performance. Other major factors also important in influencing growth in the market include continuous technological innovations; steady growth in automobile production; and emerging applications in industrial, aerospace, oil and gas and medical sectors. A key noteworthy innovation in torque transducers is the development of contactless or wireless transducers which utilize surface acoustic waves to provide non-contacting sensing thus eliminating the drawbacks of Conventional torque measuring solution such as Strain gauges which require to be connected via lip rings, inductive couplings and are prone to external factors such as electrical noise, and longer-term durability and reliability issues. The United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 7.7% over the analysis period led by healthy economic growth and industrialization trends; healthy production of automobiles against the backdrop of rising vehicle per capita vehicle ownership; and increasing availability of high quality yet affordable sensors with higher accuracy class, sensitivity tolerance, temperature stability and reliable linearity deviation and hysteresis.   

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Company and Industry News & Stories
  • LCM Systems Signs a Distribution Agreement with Interface in a Move to Supply Torque Transducer in America
  • Brüel & Kjær to Merge with HBM to Form ‘Hottinger, Brüel & Kjær’ in a Move to Focus on the Provision of Complete Solutions including Hardware, Software and Related Services
  • Kyowa and HBM Enter into Strategic Sales Collaboration in a Move to Extend their Own Portfolio of Precise and High-Quality Transducers & Amplifiers
  • With the Aim to Significantly Expand Sales in Non-EU Markets, Snap-on Acquires Norbar Torque Tools Group
  • Forsentek Announces Availability of Weight Sensors and Torque Sensors Designed to Meet Precise Measuring Requirements

Outlook in Key Market Segments
  • Automotive and Industrial Applications are projected to provide the largest revenue opportunity for Torque Sensors over the medium to long-term period.
  • Medical Sector is projected to witness the fastest growth driven by the ability of torque sensors to provide accurate results particularly in robotic surgical systems, surgical stapler testing, pharmaceutical tablet forming, fitness and rehabilitation equipment, and testing prosthetics applications.

Product Definition & Scope
  • Torque sensors, also referred to as torquemeters or torque transducers, are devices used for the measurement and recording of rotational force on rotating mechanical components, such as bicycle cranks, rotors, transmissions, gearboxes, crankshafts, and engines. The torque measured from these devices are subsequently transmitted to control systems or operators for achieving desired operations of engines and ensuring proper functioning of the machinery. The efficiency of torque sensors is evaluated on the basis of maximum temperature compensation, accuracy and torque measured. Torque sensors generate output in various forms, including analog current, analog voltage, analog/modulated frequency, parallel, serial and switch/alarm. Torque sensors are designed to measure static as well as dynamic torques.

Timeline for Analysis
  • Market Estimates and Forecasts for 2016-2024
  • Historic Review 2011-2015

Geographic Markets Analyzed
  • US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World

Market Segmentation & Classification
  • End-Use Application Markets:
    • Automotive, Industrial, Medical, and Others

Major Players
  • ABB Ltd.
  • Applied Measurements Ltd.
  • Esterline Technologies Corp.
  • FUTEK Advanced Sensor Technology, Inc.
  • Hottinger Baldwin Messtechnik GmbH
  • Kistler Group
  • Norbar Torque Tools Limited

How Can You Benefit?
This research project broadly covers analysis of all market trends, drivers, challenges and other macro market scenarios you need to know to improve your strategic planning and remain informed and competitive. The study also provides reliable ready facts and exclusive statistical data insights in addition to expert and highly accurate market size forecasts and projections to help you identify new markets and opportunities for revenue growth and sustainability. The extensive reportage of industry, company and product news and stories together with coverage of all major and niche players provided in the report helps you build a 360 degree perspective on your markets and gain unsurpassed insights needed to devise plans and strategies to maximize business growth.