The latest development in wireless and non-contact torque sensors like optical torque, magnetoelastic, and acoustic wave (SAW) will increase the use of torque sensors in various verticals. In future, SG technique is supposed to be the main technology for torque sensors.
Torque sensors are devices used to measure torque produced by rotating systems in crankshaft, bicycle crank, transmissions, helicopter tail rotor and engine. Torque measurement is required for technological applications such as engine and transmission testing, turbine testing, pump testing, and measurement of power within propulsion systems.
Among all applications of torque sensor, Industrial applications hold the second largest share in terms of revenue pockets. The market is expected to grow up to $300.33 million in 2018 from $ 214.17 million in 2013 at a CAGR of 7% from 2013 to 2018. It is mainly attributed to the use of torque sensors in industries because torque measurement ensures efficiency and performance of machines.
ABB (Switzerland), Applied Measurements (U.K.), Crane Electronics (U.K.), Futek Advanced Sensor Technology (U.S.), HBM (Germany), Honeywell (U.S.), Kistler Instrumente AG (Switzerland), MagCanica (U.S.), PCB Piezotronics (U.S.) are some of the key players in this market.
With Market data, you can also customize MMM assessments that meet your Company’s specific needs. Customize to get comprehensive industry standard and deep dive analysis of the following parameters:
- Usage pattern of various technologies such Rotary, Static/Reaction, Magnetoelastic, and Surface Acoustic Wave (SAW) in industrial applications
- Product Matrix which gives a detailed comparison of technological portfolio of each company mapped by industrial applications
- End-user Adoption rate analysis of the technological segment wise
- Product specific and region specific market share analysis of top players
- Key developments of each top player that affect the market dynamics
- The consumption pattern of torque sensors in industrial applications based on major geographies such as North America, APAC, Europe and Latin America
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