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Torque Sensors Market Size Will Escalate Rapidly in the Near Future
Torque Sensors Market
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Global Torque Sensors Market: Regional Insights
Asia Pacific is expected to be the fastest growing region in the torque sensors market over the forecast period. The substantial growth in the automotive production of vehicles in economies such as India and China is one of the major factors for increasing demand for torque sensors in this region. For instance, according to the Organisation Internationale des Constructeurs d’Automobiles (OICA) analysis, the production of vehicles in India and China in 2016 was 4.5 billion units and 28.1 billion units, respectively, which increased up to 4.7 billion units and 29 billion units, respectively in 2017. Torque sensors are used in automotive industry for numerous applications such as testing of clutch and gearboxes, brake testing, and others. These factors are expected to propel demand for torque sensors in Asia Pacific region.
Global Torque Sensors Market: Competitive Landscape
Major players operating in the global torque sensors market include ABB Limited, ATI Industrial Automation, Inc., Futek Advanced Sensor Technology, Inc., Interface Inc., Kistler Instrument Corporation, Crane Electronics Ltd, Honeywell International Inc., Datum Electronics Ltd., and PCB Piezotronics Inc. Market players are adopting strategies such as product development, in order to gain competitive edge in the market. For instance, in June 2018, OnRobot A/S launched the force-torque sensor product. Force-torque sensors based on OptoForce HEX technology received a substantial technical upgrade, making installation and handling of the sensors even easier and faster. Furthermore, the weight of the sensor was reduced by 20 percent.
Global Torque Sensors Market: Taxonomy
By Product Type
• Rotary Torque Sensors
• Reaction Torque Sensors
• Surface Acoustic Wave (SAW) Torque Sensors
• Optical Torque Sensors
• Others
By Mechanical Configuration
• Shaft Style
• Flange Style
By Application
• Automotive & Transportation
• Aerospace & Defense
• Medical & Healthcare
• Others (Agriculture and Mining)
By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa
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