Market Overview

A torque sensor is a device used for measuring and recording the torque of a rotating system such as an engine, crankshaft, gearbox, rotor, and bicycle crank or cap torque tester. The torque is mainly divided in two categories: static torque and dynamic torque. Static torque does not produce an angular acceleration and dynamic torque refers to the amount of torque motor produces at some speed of rotation with applied load.

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Market Dynamics

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.

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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.

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