The torque sensor market
is projected to grow from USD 6.8 billion in 2021 to USD 9.0 billion by 2026;
it is expected to grow at a CAGR of 5.7% from 2021 to 2026. Increasing
application of torque sensors for electric power steering (EPS) systems is one
of the primary factors for the installation of torque sensors in automotive
applications. Torque snesors also being increasing used for technological
applications such as engine and transmission testing, turbine testing, pump
testing, and power measurement within propulsion systems. The increase in the
number of high performance vehicles is also contributing to the demand for
torque sensors for engine calibrations, safety, and transmission.
Although the
torque sensor market is growing at a nominal pace, it is moderately competitive
owing to the presence of several key global players, as well as several new
players playing a key role in the growth of the market, especially for torque
sensors based on new technologies. Key strategies adopted by these players to
enhance their product portfolios, increase their market share and expand their
presence in the market mainly include new product launches, collaborations, and
acquisitions. For instance, in November 2020, HBM (Germany) launched a new torque
transducer T40CB featuring a central bore hole that makes it ideal for testing
automobile parts in confined spaces. It also features analog and digital
interfaces, which ensure it integrates with many different test bench systems.
In May 2020, Kistler Holding (Switzerland) announced a collaboration with
Vehico (Germany), a manufacturer of driving robots and vehicle control systems
for vehicle testing. As a result of this collaboration, an extensive package of
sensor technologies and driving robots will now be available to Vehico from a
single source. In March 2020, HBM (Germany) launched T21WN torque transducers
based on the strain-gauge technology. It is ideal for laboratory, test shop,
and testing applications as well as for use in production and process
monitoring and quality assurance.
Download PDF
Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1114
ABB (Switzerland)
manufactures robotics and motion controller, electrification, and industrial
automation products for the sectors such as utilities, transportation, and
infrastructure. The company was founded in 1983 and has its headquarters in
Zurich, Switzerland. In 2020, the company had 105,600 employees. It operates
through 4 business segments—electrification, motion, industrial automation, and
robotics and discrete automation. Motion is the relevant business segment for
torque sensors. ABB has its operations in ~100 countries across 4
regions—Europe, the Americas, Asia, and the Middle East and Africa (MEA).
TE Connectivity
(Switzerland) is engaged in the designing and manufacturing of connectivity and
sensor solutions. The company operates through 3 business
segments—transportation solutions, industrial solutions, and communications
solutions. Transportation solutions is the relevant business segment for torque
sensors. In 2014, the company acquired Measurement Specialties, a leading
global designer and manufacturer of sensors and sensor-based systems. The
company products serve a wide range of industries, including aerospace &
military, consumer goods, engine & vehicle, environment monitoring, general
industry, and medical, among others.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B
research on 30,000 high growth niche opportunities/threats which will impact
70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers
worldwide including 80% of global Fortune 1000 companies as clients. Almost
75,000 top officers across eight industries worldwide approach
MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at
MarketsandMarkets™ are tracking global high growth markets following the
“Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with
the clients to identify new opportunities, identify most important customers,
write “Attack, avoid and defend” strategies, identify sources of incremental
revenues for both the company and its competitors. MarketsandMarkets™ now
coming up with 1,500 MicroQuadrants (Positioning top players across leaders,
emerging companies, innovators, strategic players) annually in high growth
emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000
companies this year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research ahead of
the curve.
MarketsandMarkets’s flagship competitive
intelligence and market research platform, “Knowledgestore” connects over
200,000 markets and entire value chains for deeper understanding of the unmet
insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™
INC.
630
Dundee Road
Suite
430
Northbrook,
IL 60062
USA:
1-888-600-6441
No comments:
Post a Comment