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Global Torque Sensor Market 2016-2020

  • Published: Sep 2016
  • Pages: 58
  • SKU: IRTNTR10353
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The global torque sensors market report provides an analysis of the market by capacity and by geography. The report also provides an analysis of the market’s competitive landscape and offers information on several companies including ABB, ATI Industrial Automation, FUTEK Advanced Sensor Technology, Interface Advanced Force Measurement, Honeywell Sensing and Control, Crane Electronics, Kistler Holding, HBM Test and Measurement, and Sensor Technology.

 The infographic below contains key findings from our analysis of the torque sensors market   

 

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Overview of the global torque sensors market

The global torque sensors market will grow steadily during the forecast period and will post a CAGR of almost 10% by 2020. This market research analysis identifies the penetration of electric power assisted steering (EPAS) systems in automobiles as one of the primary growth factors for this market. The growing demand for passenger, commercial, and high-performance vehicles have resulted in the higher penetration of EPAS systems in automobiles as they play a major role in achieving the desired fuel-efficiency levels and also consume much lesser energy when compared to the standard steering systems. Since EPAS systems mainly constitute a torque sensor fitted in-line with the steering column, a rapid increase in their adoption will positively impact the growth of this market.

One of the major torque sensors market trends is the rise in demand for wireless connectivity in torque sensors. Focusing on enhancing their energy efficiency and to cut operational costs, industries have the need to closely monitor all involved processes for inconsistencies. This will increase the adoption of industrial wireless sensor networks (IWSNs) as they facilitate the sensing of designated signals. These signals are then interpreted and analyzed by a system that makes conclusions related to several parameters such as machine performance statistics, safety parameters, and automation and robotics. This widespread adoption of IWSNs will demand the wireless connectivity in torque sensors as well and torque sensor manufacturers will start focusing on implementing wireless technology in their products. One of the major industrial automation companies ATI Industrial Automation, has already launched its wireless torque sensing system with a device called Wireless Force/Torque that can support upto six torque sensors and can be easily with an existing wireless infrastructure.

Competitive landscape and key vendors

The market is highly technology intensive and due to the presence of a number of large- and small-scale torque sensor manufacturers, this global market appears to be highly fragmented. The lack of technological standardization induces vendors to use any preferred technology, which intensifies the level of competition in the market. Large-scale industries and MNCs prefer torque sensors offered by well-established players in the market while SMEs and small scale industries prefer regional players as they provide customized solutions at comparative prices. Vendors mainly compete on the basis of the technologies used, product quality, and accuracy in torque measurement. Large-scale vendors will start acquiring small-scale industries and regional players, which will help them increase their market shares and also acquire new technologies.

According to the torque sensors market report, the leading vendors in the market are -

  • ABB
  • ATI Industrial Automation
  • FUTEK Advanced Sensor Technology
  • Interface Advanced Force Measurement
  • Honeywell Sensing and Control
  • Crane Electronics
  • Kistler Holding
  • HBM Test and Measurement
  • Sensor Technology

 

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Segmentation by capacity and analysis of the torque sensors market

  • 1 to 50 Nm
  • 101 to 500 Nm
  • Less than 1 Nm
  • 51 to 100 Nm
  • 501 to 1000 Nm
  • More than 1000 Nm

Torque sensors with a capacity of 1 to 50 Nm accounted for the major market shares during 2015. These sensors find applications in a wide variety of components across different industrial sectors and are mainly used for precision torque measurement in various machinery in industries such as automotive and aerospace.

Geographical segmentation and analysis of the torque sensors market

  • Americas
  • APAC
  • EMEA

This market study predicts that in terms of geographical regions, APAC will be the major revenue contributor to the market throughout the predicted period. China and India will be the major market contributors in this region. The growth of the manufacturing industry in China, the rise in development of the oil and gas and aerospace industries in India, and the increasing adoption of industrial automation technologies by industries all over the region, will propel the market’s growth prospects.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the global torque sensors market?
  • What are the key market trends impacting the growth of the global torque sensors market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global torque sensors market?
  • What are the market opportunities and threats faced by the vendors in the global torque sensors market?
  • Trending factors influencing the market shares of the Americas, APAC, and EMEA.
  • What are the key outcomes of the five forces analysis of the global torque sensors market?

 

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Table of Contents

PART 01: Executive summary

  • Highlights

PART 02: Scope of  the report

  • Market overview

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights
  • Torque sensor
  • EPAS system

PART 05: Market landscape

  • Market overview
  • Market size and forecast
  • Five forces analysis

PART 06: Market segmentation  by capacity

PART 07: Geographical segmentation

  • Overview
  • Torque sensor market in APAC
  • Torque sensor market in EMEA
  • Torque sensor market in Americas

PART 08: Market drivers

  • Rise in demand for high-performance vehicles in automotive industry
  • Penetration of EPAS systems in automobiles
  • Growth of industrial automation and robotics
  • Increased demand for torque sensors in oil and gas industry

PART 09: Impact of drivers

PART 10: Market challenges

  • High initial capital investment
  • Compliance with safety standards
  • Complexity in design

PART 11: Impact of drivers and challenges

PART 12: Market trends

  • Inception of new and innovative torque sensors
  • Compliance with quality standards
  • Rise in demand for wireless connectivity in torque sensors

PART 13: Vendor landscape

  • Competitive scenario

PART 14: Key vendor analysis

PART 15: Appendix

  • List of abbreviations

PART 16: Explore Technavio

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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