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Torque Sensors - Market Analysis, Trends, and Forecasts

  • ID: 2769223
  • Report
  • March 2020
  • Region: Global
  • 475 Pages
  • Global Industry Analysts, Inc
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The Torque Sensors market worldwide is projected to grow by US$4.9 Billion, driven by a compounded growth of 6.7%. Rotary, one of the segments analyzed and sized in this study, displays the potential to grow at over 7.1%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$7.6 Billion by the year 2025, Rotary will bring in healthy gains adding significant momentum to global growth.

Representing the developed world, the United States will maintain a 6.2% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$268.5 Million to the region's size and clout in the next 5 to 6 years. Over US$254.4 Million worth of projected demand in the region will come from Rest of Europe markets. In Japan, Rotary will reach a market size of US$669.6 Million by the close of the analysis period. As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 9.8% over the next couple of years and add approximately US$949.8 Million in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders. Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others:
  • ABB Ltd.
  • AIMCO
  • Applied Measurements Ltd.
  • ATI Industrial Automation, Inc.
  • Burster GmbH & Co. KG
  • Crane Electronics Ltd.
  • Datum Electronics Limited
  • FUTEK Advanced Sensor Technology, Inc.
  • Honeywell International Inc.
  • Hottinger Baldwin Messtechnik GmbH
  • Infineon Technologies AG
  • Interface, Inc.
  • Kistler Group
  • Lorenz Messtechnik GmbH
  • MagCanica, Inc.
  • Mountz, Inc.
  • Norbar Torque Tools Limited
  • PCB Piezotronics, Inc.
  • S. Himmelstein and Company
  • SCAIME SAS
  • Sensor Technology Limited
  • SENSY S.A.
  • TE Connectivity Ltd.
  • Teledyne Instruments.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
Torque: A Conceptual Overview
A Prelude to Torque Sensors
Classification of Torque Sensors Based on Mechanism Type
Classification of Toque Sensors by Technology Type
Torque Measurement in Real World Situations: How Difficult is the Task?
Torque Sensors: Current Market Scenario and Outlook
While Developed Regions Remain Major Revenue Contributors, Developing Regions Emerge as Hot Spots for Future Growth
EXHIBIT 1: World Torque Sensors Market by Region (2019 & 2025): Percentage Breakdown of Revenues for Developed and Developing Regions
EXHIBIT 2: Global Torque Sensors Market - Major Regions/Countries Ranked by Value CAGR for 2018-2025: China, Asia-Pacific, Latin America, Rest of World, Canada, USA, Europe, and Japan
Stable Economic Scenario to Positively Influence Torque Sensors Market
EXHIBIT 3: Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2018 through 2021
Sensors Industry: A Complementary Review
EXHIBIT 4: World Market for Sensors (2020): Percentage Breakdown of Revenues by Sensor Type
EXHIBIT 5: World Sensors Market by End-Use Application (2020): Percentage Breakdown of Dollar Sales for Aerospace & Defense, Automobile Application, Building & Construction Industry, Consumer and Household Appliance, Machine Tools and General Machinery, Process & Manufacturing Industry, and Others
Market Structure
Continuous Improvements to Benefit Sensor Technology
Industry Consolidation: A Perennial Trend
Competitive Landscape
Leading Players in the Torque Sensors Market
Vendors Leverage Rental Service as New Revenue Vertical
Recent Market Activity

2. FOCUS ON SELECT PLAYERS
ABB Ltd. (Switzerland)
AIMCO (USA)
Applied Measurements Ltd. (UK)
ATI Industrial Automation, Inc. (USA)
Burster GmbH & Co. KG (Germany)
Crane Electronics Ltd. (UK)
Datum Electronics Limited (UK)
FUTEK Advanced Sensor Technology, Inc. (USA)
Honeywell International Inc. (USA)
Hottinger Baldwin Messtechnik GmbH (Germany)
Infineon Technologies AG (Germany)
Interface, Inc. (USA)
Kistler Group (Switzerland)
Lorenz Messtechnik GmbH (Germany)
MagCanica, Inc. (USA)
Mountz, Inc. (USA)
Norbar Torque Tools Limited (UK)
PCB Piezotronics, Inc. (USA)
S. Himmelstein and Company (USA)
SCAIME SAS (France)
Sensor Technology Limited (UK)
SENSY S.A. (Belgium)
TE Connectivity Ltd. (Switzerland)
Teledyne Instruments (USA)

3. MARKET TRENDS & DRIVERS
Torque Sensors Witnessing Robust Demand in Diverse End-Use Sectors
Automotive Sector: Major Consumer of Torque Sensors
Torque Sensors Play Vital Role in Automotive Power Steering
Need to Cut Down On-Road Fatalities Stimulate Demand for EPS with Torque Sensors
Torque Sensors Assist in Lowering Engine Friction
Significance of Torque Sensors in Electric Cars
Autonomous Vehicles: Emerging Automotive Application
F1 Teams Use Torque Sensors for Improving Safety at Pit Stops
Torque Sensors for Electric Bikes
An Overview of Automotive Sensors Market
EXHIBIT 6: World Automotive Sensor Market (2019): Percentage Breakdown of Value Sales by Application Type
Upward Trajectory in Automobiles Production Spurs Market Demand
EXHIBIT 7: Global Passenger Cars Production (In Million Units) by Geographic Region/Country for the Years 2017, 2019, 2022
Sustained Opportunities in Industrial Sector
Torque Sensors Come to the Fore to Improve Industrial Robotic Technologies
Force Sensing in Industrial Robotics
Force-Torque Sensors Find Usage in Collaborative Robots
Torque Sensors for Robot Accessories
EXHIBIT 8: World Industrial Robots Shipments (in Thousands) for the Years 2018 through 2024
EXHIBIT 9: World Industrial Robotics Market Revenues (in %) by End-Use Sector for the Year 2019
Superior Capabilities in Dynamometer Applications
Established Use in Machinery Demonstrations and Material Testing & Processing Systems
Torque Sensor in Chemical Mixing Applications
Rising Demand in Aerospace & Defense Applications
EXHIBIT 10: Global Commercial Aircraft Fleet Size (in Units) by Geographic Region for the Years 2018 & 2038
EXHIBIT 11: Global Commercial Aircraft Fleet Size (in Units) by Aircraft Type for the Years 2018 and 2038
Using Torque Sensors for UAVs
EXHIBIT 12: Global UAV Production (in US$ Billion) by Application for Years 2018 & 2028
EXHIBIT 13: Global Military UAV Production in Units by Country/Region: 2018
Other Noteworthy End-Use Industries
Healthcare Industry
Oil & Gas
Marine
Lenience towards Condition-based Maintenance (CBM) Drives Growth in Torque Sensors Market
Persistent Need for Accurate Torque Measurement in Rotating Machinery Widens Business Prospects
Tidal Turbines: Industrial Torque Sensors to Optimize Performance
Increasing Demand for Turbomachines Encourages Further Adoption of Torque Sensors
Torque Sensing Entails High Relevance in Hydraulics Systems
Acoustic Wave Sensors Market to Grow at Exponential Pace
Technology Innovations & Advancements Help Sustain Momentum in Torque Sensors Market
New Range of Wireless Torque Sensors Seek to Expand Addressable Market
Efforts on Developing Integrated Diagnostics in Torque Module

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
Sensors Market Overview
Torque Sensors Market Scenario
Robust Opportunities in Automotive Sector
Market Analytics
CANADA
Automotive Sector: A Major Market of Torque Sensors
Canadian ESC Regulations to Drive Growth in Demand for Associated Sensors
Market Analytics
JAPAN
Sensor Production over the Years in Japan
Market Analytics
CHINA
China: A Market Laden with Opportunities
Established Use Case Across Diverse Verticals Sustains Market Momentum
Robust Demand in the Automotive Sector Augurs Well
Market Analytics
EUROPE
European Sensors Market - A Brief Review
Automotive Sensors in Europe
Market Analytics
FRANCE
GERMANY
Automotive Market Overview
Market Analytics
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
Sensors Market: A Brief Overview
Huge Automotive Manufacturing Activity Makes Asia-Pacific (incl. China and Japan) a Lucrative Market for Sensors
Market Analytics
AUSTRALIA
INDIA
Increased Automotive Production Drives Demand for Automotive Sensor
Government Initiatives Give a Boost to Automotive Sensors
Indian Automotive Sensors Market Attracting Foreign Players
Market Analytics
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
BRAZIL
Brazilian Markets Revives After Slowdown
Market Analytics
MEXICO
REST OF LATIN AMERICA
REST OF WORLD
Sensors Market in The Middle East - An Overview
Market Analytics

IV. COMPETITION
Total Companies Profiled : 69 (including Divisions/Subsidiaries - 77)
Note: Product cover images may vary from those shown
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