Market Research Future (MRFR) has published on the “Global Torque Sensor Market”.
The Snowmobile Parts & Accessories Market is estimated to register a CAGR of 12.6% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Torque Sensor market - ABB, Honeywell International Inc, Infineon Technologies AG, Crane Electronics, Applied Measurements Ltd, Kistler Group, Norbar Torque Tools, Sensor Technology Ltd, and HBK
The Global Torque Sensor Market is accounted for to register a CAGR of 12.6% during the forecast period and is estimated to reach USD 23,584.43 million by 2032.
Torque measuring is a significant advancement in the automobile industry. Torque measurement is required in a variety of applications, including engine gearbox testing, pump testing, turbine testing, and power measuring. Torque is an important element in the design of industrial and combustion motors. Furthermore, for any machine that achieves angular motion, the torque measurement is essential. The machines become more efficient when torque sensing is used. A technological breakthrough in the area of sensors has occurred that will almost surely attract the interest of machine designers seeking to monitor power in drive shafts and other rotating machine components.
Additionally, torque measurement in rotating shafts is a fundamental necessity in a wide range of applications. Torque measurement in manufacturing machinery and processes can help to reduce downtime and enhance product quality, and it is an important measurement in the battle to optimize energy efficiency. In applications such as belt conveyors, measuring shaft torque provides an effective way to monitor the power utilised to operate the conveyor, which can help to improve speed.
Further, several innovative torque measurement technologies have emerged in recent years, with magnetoelastic, optical, and SAW technologies being the most popular. The sensors based on these technologies have good linearity, considerable resolution, and fair electromagnetic noise immunity in addition to being lightweight and compact. SAW-based torque sensors' wireless and battery-free operations enable easy integration with current system designs and flexible packaging designs. Magnetoelastic torque sensors are perfect for automotive and aerospace applications because of their substantially greater frequency response and resistance to external factors. These properties would certainly allow these torque sensors to be used effectively in many of the torque applications that are now in us.; they would also create new opportunities for torque sensors during the forecast period.
The automotive sector is facing increasingly stringent emissions rules, enabling manufacturers to implement novel techniques to reduce carbon emissions. Torque sensors are crucial because they provide real-time data that allows automakers to fine-tune engine efficiency and power management. Electric vehicles are the essential technology for decarbonizing road transport, which accounts for more than 15% of worldwide energy-related emissions. The sales of electric vehicles have expanded exponentially in recent years, along with their improved performance, wider model availability, and increased performance.
Furthermore, as per capita income and disposable income rise around the world, so does demand for personal automobiles and passenger cars. The number of automobiles on the road is growing, and so is the rate of carbon emissions. The need for alternative cars is expanding quickly as a result of rising fuel prices and increased public awareness of global warming. The demand for hybrid electric vehicles is rising worldwide due to the fact that they are more fuel-efficient and emit fewer greenhouse gases. A number of automakers are also concentrating on the creation and launch of several hybrid car models in order to facilitate the growth of electro-mobility options.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Torque Sensor Market Research Report
The Global Torque Sensor Market has been segmented based on Type, Application, Configuration, Technology, Industry Vertical and Region
Based on, the global Torque Sensor Market segmentation includes Indicator- Dynamic Torque Sensor, Joint Torque Sensor, 6 axis force/torque sensor, 4 Axis force/torque sensor, Static Torque Sensor. 6 axis force/torque sensor segment is expected to grow at 12.0% CAGR during the forecast period. The most common type of force torque sensor is the six-axis sensor. This sensor is capable of measuring forces in all directions. Strain gauge technology is commonly employed in six-axis torque sensors; when applied pressure, the resistance within the gauge rises or lowers in proportion to the force received. This approach is used by the sensor to determine how its exterior frames move in relation to one another. Six-axis sensors are used in robotic arms at the "joint." Force/torque sensors with six axes measure all forces and moments on three orthogonal axes. All forces and moments are collected as physical, piezoelectric signals, and no calculations are required. The 6-axis force-torque sensor measures force and torque along all six axes. This allows for exact control when it comes to difficult assembly, polishing, sanding, or deburring jobs.
Based on Configuration, the global Torque Sensor market has been segmented into Wireless Torque Sensor, and Wireless Torque Sensor. The Wired Torque Sensor is expected to grow at 17.3% CAGR during the forecast period. In wireless torque sensor, torque information has to be transmitted in a wireless non-contact manner from the rotating shaft to the static readout environment. technical approach is to detect torque on the rotating shaft and transfer it to a stationary receiver via an electric, magnetic, or electromagnetic field. Wireless sensors deliver more accurate measurements in less time and with less effort than alternatives. Because of high shaft speeds, vibration, and unclean, greasy conditions, wireless torque sensor systems are used in areas where traditional torque transducers are impractical. These variables offer significant challenges for typical foot-mounted rotary torque transducers equipped with bearings and slide rings. Because of high shaft speeds, vibration, and unclean, greasy conditions, wireless torque sensor systems are used in areas where traditional torque transducers are impractical. These variables offer significant challenges for typical foot-mounted rotary torque transducers equipped with bearings and slide rings.
Based on Technology, the global Torque Sensor market has been segmented into Surface Acoustic Wave, Magnetoelastic, Optical, and Strain Gauge. The Magnetoelastic segment is expected to grow at 12.7% CAGR during the forecast period. Magnetoelastic torque sensors are most commonly used in automotive and e-mobility applications to detect torque in transmissions and drivetrains. The medical robotics and diagnostic equipment markets are likely to be the next areas of growth for this technology. Magnetoelastic sensors can be used to measure torque in large, non-servo-controlled motors, such as those used in processing applications and heavy machinery, for predictive and preventative maintenance. Magnetoelastic technology can also be utilized to tighten equipment used in assembly and food and beverage applications where precise, consistent torque readings are required.
Based on application, the global Torque Sensor market has been segmented into Robotics, Engines, Automotive safety system, Assembly welding, Aircraft flight control, medical devices, and Others. The Robotics segment is expected to grow at 13.8% CAGR during the forecast period. In recent years, articulated robots with built-in torque sensors have been commercialized. In particular, the number of cooperative robots equipped with a built-in Torque Sensor is growing. Torque sensors constructed into cooperative robots are cylindrical in shape and are integrated into the robot arm.
Torque Sensors detect the output torque of the rotating axis of the robot in order to control the pushing force and other forces required for the robot's task, as well as to detect contact with people or barriers. Torque Sensors are required sensors for robots to do increasingly complex activities and collaborate in the same place as people. This market for Torque Sensors is likely to expand further.
Based on Industry Vertical, the global Torque Sensor market has been segmented into Automotive, Industrial, Test & Measurement, Aerospace & Defense, Healthcare, and Others. The Automotive segment is expected to grow at 17.0% CAGR during the forecast period.
Asia-Pacific is expected to witness the largest market share due to some organizations taking proactive steps to capitalize on the market's increased need for torque solutions. NSK Ltd., for example, developed a non-contact torque sensor capable of monitoring the torque of drive shafts in automobiles in real time in July 2020. This is the world's first sensor of this type and performance. This innovative technology has the potential to improve fuel efficiency (lower power usage), ride comfort and safety, and open a world of new opportunities.
The torque sensor market in North America is robust and expanding, with most of the increased demand coming to the car industry's need for greater fuel efficiency. Furthermore, the automobile industry in North America is experiencing high demand for autonomous vehicles and driving torque sensors. Tesla, for example, puts a torque sensor in the steering wheel to identify whether or not drivers are paying attention to the steering. Many drivers in the area have been publicly documented for hacking the systems in order to keep their hands free. Such advancements enable automobile manufacturers to ensure road safety.
The widespread usage of torque sensors in automotive applications has led to the European market's rapid expansion in the coming years. This expansion can also be attributed to growing demand for rotary and linear force torque sensors. Automotive manufacturers include torque sensors into their vehicles to increase features and functionality and stay ahead of other players in the highly competitive marketplace.
The growing demand for energy and large-scale manufacture of various sorts of items for export are facilitating the torque sensor industry. Collaboration between governments, private sector companies, and research institutions is crucial in advancing the torque sensor market in the MEA region, fostering innovation, supporting local manufacturing, and ensuring the latest sensor technologies are readily available for various applications.
Key Findings of the Study
- The Global Torque Sensor Market is expected to reach USD 23,584.43 million by 2032, at a CAGR of 12.6% during the forecast period.
- The APAC region accounted for the fastest-growing global market, imperative factors, such as the significant number of investments and key market players in Europe, making it the primary contributor to the market share.
- Based on Configuration, the Wired Torque Sensor segment held the majority share in 2022, contributing around ~71.2% to the market revenue.
- ABB, Honeywell International Inc, Infineon Technologies AG , Crane Electronics , Applied Measurements Ltd, Kistler Group , Norbar Torque Tools, Sensor Technology Ltd, and HBK, and Others are key market players.