Magneto Elastic Torque Sensor Market - Automotive Industry has Lucrative Opportunuty Across Globe

The torque sensor is a device that is used to measure and record torque on a rotating system. Torque monitoring and measurement are critical parameters in nearly all rotating parts, equipment and machines, which guarantees high performance. Torque monitoring is implemented by using torque systems.

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There are two types of torque systems – static and dynamic torque. Dynamic torque is tricky to measure and requires transfer of some form of energy such as magnetic, hydraulic or electric. The magneto elastic sensors are non-contact based sensors having inherent advantages such as low cost structure and high robustness.

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The global magneto elastic torque market is expected to see a promising growth in the near future years owing to the rapid increase in electric power steering systems and need for better fuel efficiency. These have led the manufacturers to increase the production of magneto elastic torque sensor. In addition, the high demand for wireless connectivity has led to the increase in adoption of wireless sensor network in industries as they simplify the detection of designated signals. These signals are then analyzed by a system. This widespread adoption of industrial wireless sensor network is expected to increase the demand of magneto elastic torque sensor.

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The global magneto elastic torque market can be segmented on the basis of application, and geography. By application, the market can be segmented into medical, automotive, measurement & test, industrial, and defense& aerospace. Presently, the automotive application segment accounts for the maximum market share in the global magneto elastic torque market.

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