Torque Sensors Market, By Type (Rotary Torque Sensors, Reaction Torque Sensors, SAW Torque Sensors, Optical Torque Sensors, Others), By Mechanical Configuration (Shaft Style, Flange Style), By Application (Automotive & Transportation, Aerospace & Defense,

Torque Sensors Market, By Type (Rotary Torque Sensors, Reaction Torque Sensors, SAW Torque Sensors, Optical Torque Sensors, Others), By Mechanical Configuration (Shaft Style, Flange Style), By Application (Automotive & Transportation, Aerospace & Defense, Medical & Healthcare, Others), By Region (North America, Latin America, Europe, APAC, MEA) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

Torque sensors, sometimes called rotary torque testers, are used in various applications where the torque measurement has to be taken at a turning shaft. Most such sensors are driven by an electrical motor (the driving unit), but there are some that are driven by a direct transmission shaft (ESD). These sensors provide the user with the ability to measure both rotary and straight thrust torque. They also have the ability to measure changes in velocity and acceleration. A rotary or ESD torque sensor is normally a wire wound spring-loaded by a variable resistance that is then activated by an electric current passing through it. This device produces a very weak magnetic signal as the wheel spins on the shaft. When the wire is twisted or bent it produces a much stronger signal. As the wheel moves on the shaft, the distance between the two ends of the wire is measured and this measured value is interpreted by the sensor.

Market Dynamics

Growing use of torque sensors in robotics is expected to boost the global torque sensor market growth over the forecast period. Apart from automobile applications, torque sensors are widely used in robotics. They measure the torque outputted during the arm movement. Generally, these torque sensors are mounted between the robot arm servo motor and its mounting points. With growing adoption of robotics across various sectors including healthcare, supply chain, automobile, e-commerce, etc. has increased the demand for torque sensors massively.

Furthermore, increasing demand for advanced high-performance vehicles is expected to accelerate growth of the global torque sensor market growth over the forecast period.

Key features of the study:

• This report provides in-depth analysis of the torque sensor market, and provides market size (US$ 517.3Million) and compound annual growth rate (6.29%) for the forecast period (2021–2028), considering 2020 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global torque sensor market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include ABB Ltd., Datum Electronics Limited, ATI Industrial Automation, Inc., HBM GmBH, FUTEK Advanced Sensor Technology, Inc., Kistler Holding AG, Interface Inc., and Crane Electronics Ltd.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global torque sensor market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global torque sensor market

Detailed Segmentation:

Global Torque Sensor Market, By Type

• Rotary Torque Sensors
• Reaction Torque Sensors
• SAW Torque Sensors
• Optical Torque Sensors
• Others

Global Torque Sensor Market, By Mechanical Configuration

• Shaft Style
• Flange Style

Global Torque Sensor Market, By Application

• Automotive & Transportation
• Aerospace & Defense
• Medical & Healthcare
• Others