Torque sensors are used to measure the torque in devices such as electric motors, engines, gearbox, draft shaft, etc. Torque monitoring and measurement are an important parameter for all machines and engines. This makes torque sensors an indispensable element of various industries such as automotive and transportation, oil and gas, aerospace and defense, and medical and healthcare. One of the major trends observed in the global torque sensor market is the development of non-contact and wireless sensors.
According to Persistence Market Research, the torque sensors market had a valuation of US$1.1 bn in 2015. Exhibiting a robust 9.3% CAGR from 2015 to 2021, the market is expected to rise to a valuation of US$1.9 bn by 2021.
Meet the Latest Addition in the Family: Robotiq FT 150
A recent major innovation in the field of torque sensors has expanded the list of applications where torque sensors can be used for. The sensor is called Robotiq FT 150 force torque sensor and has been designed for a wide range of applications. The sensor was primarily introduced to fulfil the quest of various industries for developing high-quality and technically advanced products, wherein the use of Robotiq FT 150 force torque sensors can offer quality assurance.
How the Robotiq FT 150 Force Torque Sensors Benefitted Joystick Quality Assurance
Robotiq FT 150 force torque sensors are extensively used for qualitative and quantitative test procedures required to test joystick bases and control sticks. Joysticks are sold as a control device for vehicles and therefore the quality assurance team has to ensure the conformance of the electronic and mechanical components of the control device before packaging. Previously, the testing was carried out manually, which was a tedious and extremely time-consuming task. For the quality assurance team, the daunting task of monitoring the full performance of the joystick, checking for the sensitivity of the joystick, and analyzing the full functionality of the joystick was overbearing. The efficiency, however, had to be maintained, which meant long hours of testing processes. For speedy testing, more workers were hired, which in turn increased the cost for the company. In this situation, the arrival of Robotiq FT 150 force torque sensors proved to be a boon for the quality assurance team for testing the joysticks and control sticks.
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Asia Pacific to Dominate Global Torque Sensors Market
In 2015, the global torque sensors market was led by Asia Pacific, as it held 31.9% of the overall market, which was the largest share in terms of value. The dominance of the Asia Pacific region is expected to continue till 2021. However, the highest CAGR during the forecast period is expected from the Middle East and Africa region.
Rotary Torque Sensor Segment to Lose its Market Share despite Leading in 2015
The global torque sensor market is segmented by product type into rotary torque sensors, reaction/static torque sensors, optical torque sensors, surface acoustic wave (saw) torque sensors, and magnetoelastic torque sensors. Out of these segments, the rotary torque sensors segment held 53% of the total market. However, by the end of 2021, the rotary torque sensors segment is likely to cede some of its market share to other segments.