About Torque Transducer
Torque transducers or torque sensors are used for converting torsion corresponding to a torque of the shaft to an electric voltage. It is widely used to ensure or check the accuracy and easy measurement of the torque transmission since all these transducers use a strain gauge for the sensing application, the measurement is assured for long-term operation also. and Thus, they can be widely used not only for experiments and research but also for industrial measurement. They are widely used in electric bikes with continuous research and development in torque measuring technology which is increasing the global torque transducer market.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
CAGR | 5.6% |
Market players are focusing on providing torque transducer with higher quality along with complying all regulatory standards to fascinate more end users. They are also focusing on the introduction of numerous advanced & attractive features to further offer qualified torque transducer. The market is fragmented owing to the presence of several international and local providers. The high focus on the offering cost effective product offerings. Besides, the numerous industry profitability has led the entry of new players, in turn, increasing the level of rivalry in the already competitive market. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Honeywell International Inc. (United States), ATI Industrial Automation Inc. (United States), Flintec Group AB (Indutrade) (Sweden), HITEC Sensor Developments, Inc. (United States), Datum Electronics Ltd (United Kingdom), Crane Electronics Inc (United Kingdom), Sensor Technology Ltd (Canada), HBM Test and Measurement (Germany), MinebeaMitsumi Inc. (Japan) and Strainsert, Inc. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Torque Transducer market by Type (Conventional In-Line Transducer, Flanged In-Line Transducer, Fully Non-Contact In-Line Shaft Torque Transducer and Custom Torque Transducers), Application (Electric Motor Testing, Hydraulic Pump Testing, Reduction Gears and Gearbox, Craft Shifts, Clutches and Others) and Region.
On the basis of geography, the market of Torque Transducer has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Measuring Range, the sub-segment i.e. 1 to 50 Nm will boost the Torque Transducer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Automotive Industry will boost the Torque Transducer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In May 2020, Kistler Holding (Switzerland) ahs declared a collaboration with Vehico. It is driving robots and vehicle control systems manufacturer. It is majorly used for vehicle testing. With this collaboration, Vehico is able to offer broad range of sensor technologies and driving robots.
In May 2021, Sensor Technology has launched a new range of non-contact torque sensors. It is based on a full four element strain gauge bridge design, complementing its existing non-contact sensors that use surface acoustic wave (SAW) detection. This newly designed TorqSense SGR510/520 series have 250% overrange reading capacity which allowing sudden spikes in torque to be measured and recorded accurately. With this new range, company has expanded its portfolio with advanced technologies.
Market Drivers
- Need for Correct Measurements and Diagnosis of Torque for Electronic Power Steering (EPS) in Automotive Industry
Opportunities
- Improving Efficiency and Accuracy of Torque Transducer Technology
- Continuous Research and Development in Torque Measuring Technolgy
Restraints
- Stringent Regulatory Norms Associated with Torque Transducer
- Problems with Torque Transducer Affected by Environmental Factors
Challenges
- Issues with Accuracy and Efficiency of Torque Transducer
Key Target Audience
Torque Transducer Manufacturers, Torque Transducer International Traders, Torque Transducer Distributors and Suppliers, Research and Development Institutes, Potential Investors, Upstream and Downstream Buyers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.