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World Torque Sensors Market
Frost & Sullivan, June 2011, Pages: 124
Torque sensors market is categorized as a growth market. The number of applications is increasing year after year. Automotive have exhibited largest growth in annual revenues . It is estimated that industrial, medical and test and measurement torque sensors markets are likely to show large chunks of growth in future with newer applications being developed. The torque market is expected to grow from $647.1 million in 2010 to $1066.3 billion in 2016. With the development of newer torque sensors this is likely to change with newer application research.
Torque sensors are finding application in diverse end-user markets from automotive to medical prosthetics. Torque means a force generated by a twist or rotation. Torque is part of any rotational activity. However, not all torques are important. Torque measurements for industrial and automotive applications are critical. The accurate measurement of torque in the manufacturing is challenging. Torque sensors are a growth market. It is expected that over the forecast period, torque sensors will be the most important sensor used where rotational force/ movement needs to be measured accurately.
Competitive Analysis
There are a large number market participants competing in world industrial torque sensors market. Most of these companies supply torque sensors for a wide range of applications. In fact, in 2007-2010, reaction torque sensors and non-contact torque sensors showed the growth as these sensors were adopted by the industrial equipment market. The introduction of wireless torque sensors has resulted in faster penetration of a number of markets.
There are several Tier I companies competing in the torque sensor market, including:
- Honeywell Sensing and Control
- Siemens VDO
- Delphi
- FUTEK Advanced Sensor Technology, Inc.
- Measurement Specialties
- ATI Industrial Automation
- Teledyne Instruments
However, the market is dominated by Tier II companies.
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