Torque Sensor Market Synopsis
\nTorque Sensor Market Size Was Valued at USD 8.9 Billion in 2023, and is Projected to Reach USD 17.5 Billion by 2032, Growing at a CAGR of 7.8% From 2024-2032.
\nTorque sensors generally utilize a number of transduction techniques to convert the mechanical deformation to electrical signals. Among these techniques, the most widely used is based on the use of strain gauges, these are objects whose electrical resistance is changed under mechanical stress. These gauges are attached to a sensing element that changes its shape under the influence of the torque. It also includes piezoelectric sensing; capacitive sensing; and sensing due to variations in magnetic field.<\/p>\n
The market for Torque Sensor is growing at a very fast pace due to increasing demand of EPS Systems and increasing popularity of Electric & Hybrid Vehicles. The automotive industry has perhaps undergone major transformation in the last few years due to the radical changes that have occurred in the different technologies that apply to automobiles and their usage. However, this could be vastly refined, and some noteworthy inventions include electric power steering commonly known as (EPS). Thus, the given work proved that EPS also known as electric power steering is a superior type of power steering, highly sensitive, efficient and friendly to the environment than the hydraulic power steering system. <\/p>\n
Also, based on the driving circumstance, this system is capable of providing partial or full steering aid. For instance, assistance can be at the peak during parking operations where it can be slightly reduced during other functions like high speed drive to allow the drivers exercise control. The features like parking aid and lane keeping aid can be incorporated with EPS. It enhances the safety procedures in place and also provides the foundation for enhanced development of the self-driving automobiles. <\/p>\n
Hence, a key aim of the EPS system is the achievement of safer, more efficient and comfortable transport, with benefits including optimal fuel consumption through to more immediate handling responses. It is forecasted that the function of EPS will increase because the automotive industry will advance more, contributing to the continual creation of the modern car. Therefore, increasing the application of the electric power system fosters the demand for torque sensors in the forecast period.<\/p>\n
Torque Sensor Market Trend Analysis
\nAutomotive industry innovation<\/p>\n
The automotive industry in particular is the main influencing factor to the market. With manufacturers of autos introducing new models of electric and hybrid cars into the market, manufacturers are more and more requiring sophisticated measurement for torque. Electric torque sensors are educational features in EPS, regenerative brake, and various other hi-tech car innovations. There is a growing popularity of environmentally friendly and fuel-efficient automobiles to push the uptake of electric powertrains linking the sensors to a vast market. Moreover, the growing incorporation of these sensors in different modes of vehicle specially self-driving cars to address the issues related to control and feedback of vehicles in different speeds and challenging situations is fostering market growth.
\nRenewable energy expansion<\/p>\n
The ever growing concern for the use of sustainable and renewable resources for energy is one of the leading factors that are positively contributing to the rise in the market. In the wind turbines, these sensors are very relevant in tracking the performance of the rotating blades. Due to growing needs for clean energy solutions, the wind energy industry is developing fast, which translates into the higher use of such sensors. Further, they are involved in erecting and setting up of solar tracking systems to maximize the collection of solar power during the day. The increase in consumer consciousness toward renewable energy projects across the global along with the development in the technologies of the sensors are really helping to boost up the market as these sensors are creating the necessity part of the renewable energy applications.
\nTorque Sensor Market Segment Analysis:<\/p>\n
Torque Sensor Market Segmented based on Type, Application, Configuration, Technology, and Industry Vertical.
\nBy Configuration, wired segment is expected to dominate the market during the forecast period<\/p>\n
Due to Configuration the Torque Sensor Market has Classified in to Wired Torque Sensor and Wireless Torque Sensor. Unlike many HMI systems, wired torque sensor is used and it is connected through the cable. A small connector can be used to connect signal or the sensor can simply be wired directly. The type selects the amount of torque, or twisting force, that the tool will apply to an object. Wired torque sensors are used in truck and automotive applications, industrial equipment, and various medical devices. Wired torque sensor could be said that it is a reliable and accurate way of measuring torque. The are of different capacities and are applicable under static and as well as dynamic force conditions.
\nBy Application, Robotics segment held the largest share in 2023<\/p>\n
According to application, the torque sensor market covers Robotics, Engines, Automotive safety system, Assembly welding, Aircraft flight control, medical devices, and Others. <\/p>\n
They are applied to determine the strain in the shafts, to test the clutches and gearboxes and for measurement of the dynamic torque within the engine. In addition electrical power meters for monitoring of horsepower are accompanied by torque sensors which are used for testing power train ,braking system, and suspension system for achieving best fuel economy. Using the identified automotive diagnostics data points as an example, many automakers employ in-vehicle torque sensors to map the engine torque loads and calibrate automatic transmissions per Camden et al. In some cases, measurements can be quite complex, for instance engine torque. The first technique is to install instruments to the flywheel, which is linked to the vehicle\u2019s crankshaft of the engine and a torque converter. Yet another difficult application of torque measuring in the automobile industry is measuring of torque in CV (constant velocity) joints. The CV joint allows a driveshaft to transmit power at some constant angular velocity even when the angle between the two connecting shafts is not constant, hence without much hastening the wearing away due to friction. However, these torque measurements can be sometimes problematic due to the space constraints. However, manufacturers have workarounds.
\nTorque Sensor Market Regional Insights:
\nNorth America is Expected to Dominate the Market Over the Forecast period <\/p>\n
North America region of the US, Canada and Mexico is currently holding a dominant share in torque sensor technology advancement. The remote torque sensor market in North America is expanding because of the following reasons. Firstly, there is a concern towards the evaluation of various systems in machines motors and engines among others area in the region thereby leading to a high demand of torque sensors in the region across the different industries. These sensors are widely used in Robotics, Engines, Automobile safety system, Assembly & welding, Aircraft, spar flight control, and medical instruments.
\nActive Key Players in the Torque Sensor Market <\/p>\n
Applied Measurements Limited<\/p>\n
Crane Electronics Inc.<\/p>\n
Datum Electronics Limited (Indutrade AB)<\/p>\n
FUTEK Advanced Sensor Technology Inc.<\/p>\n
Hitachi Limited<\/p>\n
Honeywell International Inc.<\/p>\n
Hottinger Baldwin Messtechnik GmbH (Spectris plc)<\/p>\n
Infineon Technologies AG<\/p>\n
Kistler Holding AG<\/p>\n
Norbar Torque Tools Limited (Snap-on Incorporated)<\/p>\n
PCB Piezotronics Inc. (MTS Systems Corporation)<\/p>\n
Other Key Players
\nKey Industry Developments in the Torque Sensor Market:<\/p>\n
December 7, 2023: Due to the efforts of Hitachi Limited to introduce the \u2018AI Transformation\u2019 internally and externally will enhance business productivity and boost business opportunities. <\/p>\n
December 19, 2023: Honeywell International Inc. released it has signed a deal where Honeywell Building Solutions help with building management and safety technology in Reliance Life Sciences (RLS). <\/p>\n
December 18, 2023: At the occasion of the Climate Ambition Summit, Infineon Technologies AG responded to the call of raising climate ambition with a letter of intent to agree on science based targets. Which will allow the company to go even deeper with climate strategy.<\/p>\n","protected":false},"excerpt":{"rendered":"
Torque sensors generally utilize a number of transduction techniques to convert the mechanical deformation to electrical signals. Among these techniques, the most widely used is based on the use of strain gauges, these are objects whose electrical resistance is changed under mechanical stress. These gauges are attached to a sensing element that changes its shape under the influence of the torque. It also includes piezoelectric sensing; capacitive sensing; and sensing due to variations in magnetic field.<\/p>\n","protected":false},"featured_media":16561,"template":"","meta":{"_acf_changed":false},"product_brand":[],"product_cat":[232],"product_tag":[],"class_list":["post-21120","product","type-product","status-publish","has-post-thumbnail","product_cat-electronics-semiconductors","first","instock","virtual","purchasable","product-type-simple"],"acf":[],"yoast_head":"\n