COVID-19 IMPACT SURVEY MAY 2020
The global market for Torque Sensors is projected to reach US$13. 5billion by 2025, driven by the importance of torque measurement in heavy machinery manufacturing including motors, compressors, pumps, power generating/consuming equipment, automobiles, etc. In the automotive industry, torque sensor measurements are used prior to the assembly process and are used for testing combustion engines and transmission systems during the development stage. Accurate torque calibration is also equally important in research & development when new materials, processes and assembly techniques are in the process of being developed; during inspection and quality control to reduce pre-production errors and downtime; during production to safeguard against time, money, materials and labor wastages due to re-working; and during equipment servicing. The growing pressure to design more fuel efficient vehicles coupled the strict emission regulations are making the significance of torque as a measured quantity even higher and more critical in automobile engineering and production. Accurate torque measurement and calibration helps build better engines enhanced mechanical performance including higher rotation and acceleration performance. Proliferation of automation and robotic technologies in industrial settings which has already peaked in the developed world and is gaining momentum in developing regions, also brings new revenue opportunities for torque sensors. The growing use of robots and the myriad roles played by them in an industrial environment is throwing the spotlight on improving object-sensing capability. Torque sensors play a vital role in the development of robotic manipulators. A force torque (FT) sensor specifically is designed to measure the forces exerted around it. Robots used in quality control & assembly line and robotic machine tools for grinding and polishing applications are major users of force torque sensors. 6-axis force torque sensor is a key technology innovation growing in popularity for its ability to detect forces & torque along all the three x-y-z axis. Other major factors also important in influencing growth in the market include continuous technological innovations; steady growth in automobile production; and emerging applications in industrial, aerospace, oil and gas and medical sectors. A key noteworthy innovation in torque transducers is the development of contactless or wireless transducers which utilize surface acoustic waves to provide non-contacting sensing thus eliminating the drawbacks of Conventional torque measuring solution such as Strain gauges which require to be connected via lip rings, inductive couplings and are prone to external factors such as electrical noise, and longer-term durability and reliability issues. Asia-Pacific including China ranks as a major market led by healthy economic growth and industrialization trends; healthy production of automobiles against the backdrop of rising vehicle per capita vehicle ownership; and increasing availability of high quality yet affordable sensors with higher accuracy class, sensitivity tolerance, temperature stability and reliable linearity deviation and hysteresis.