Increasing demand for high performance and safety vehicles encourages the demand for torque measurement in the automotive sector that further propels the torque sensor market. The automotive manufacturers are continuously increasing the use of electric systems to improve vehicle performance, safety, and passenger comfort. The sensors and actuators integrated with automotive control systems optimize vehicle performance while improving reliability and durability.
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With the ever-increasing demand in urban mobility and modern logistics sector, the vehicle population has been steadily growing over the past few decades. The leading automobile giants are coming up with newer self-driving features in their latest models. The respective technological developments are not confined to just communication, information technology, and data analysis; the realm of self-driving cars is also making progress at a brisk speed nowadays.
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Moreover, automation in the automotive sector further propels the growth of the torque sensor market. For instance, Hitachi, a Japanese multinational conglomerate company, is working to offer innovative manufacturing industry solutions based on the “symbiotic autonomous decentralization” model for forming new business and achieving overall optimization of activities by connecting different systems together. The company has a track record of making comprehensive control systems in different fields including transportation, energy, automotive, steelmaking, medicines, sewerage and water supply in addition to production management systems.
The company is advocating the symbiotic autonomous decentralization concept to offer value gained from it to the manufacturing industry to promote new growth. Symbiotic autonomous decentralization allows sensing of a site’s various statuses, analysis of issues and planning of countermeasures based on various collected and archived information, and feedback of the results obtained to the site, thus enabling the optimization of value chains inside and outside of the factory.
The global torque sensor market is projected to exhibit ample opportunities owing to the growing advancement in sensor technology such as the introduction of smart sensors. Advancement in technologies has miniaturized the devices, enhanced performance, and energy efficiency, and resulted in the reduction of the production costs. The integration of the smart sensors throughout the industry decreases the cost of the operation, increase asset efficiency enhances demand planning, and provides critical insight into the production process.
With the evolution of the centralized platforms and communication networks for the purposes of IoT devices, a variety of available smart sensors are considered by the companies or the manufacturers. These smart sensing technologies bring more connectivity and analytics to the industrial applications that further projected to contribute to market growth.
Global Torque Sensor Market Segmentation
By Technology
- Strain Gauge
- Surface Acoustic Wave (SAW)
- Magnetoelastic
- Optical
By Application
- Automotive
- Aerospace & Defense
- Industrial
- Others (Medical and Agriculture)
Torque Sensor Market – Segment by Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- ABB Ltd.
- Applied Measurements Ltd.
- Crane Electronics Ltd
- Datum Electronics Ltd.
- FUTEK Advanced Sensor Technology, Inc.
- Honeywell International Inc.
- Hottinger Baldwin Messtechnik (HBM) GmbH
- Infineon Technologies AG
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