torque sensors market to reach $1066.3 billion by 2016
- Automotive manufacturers demanding durable, high quality torque
- Other end uses: Food and Beverage; Chemical and Allied Products;
Petrochemical, Oil and Gas; Pulp and Paper; Water and Wastewater;
Mining; Pharmaceuticals and Power
The worldwide torque
sensors market is expected to grow significantly, achieving a market
value of $1066.3 billion by 2016, compared with 2010 figures of $647.1
million; according to a new report available from companiesandmarkets.com.
World Torque Sensors Market
sensors are able to measure the force which results from any
twisting or rotation movement. There are numerous applications,
categorized under: Automotive; Industrial; Medical; Test and
Measurement; Aerospace and Other, as well as numerous potential
applications which are expected to drive growth in the market.
In terms of revenue generation, the automotive torque
sensors segment has seen most growth in recent years. The 2007-2010
period also saw strong growth in the reaction and non-contact torque
sensors, as demand increased within the industrial equipment sector.
Future expansion in the torque
sensors industry is expected to be driven by the Test and
Measurement, Medical and Industrial segments; while development of
wireless torque sensors will also promote growth.
torque sensors market is highly competitive, with many players vying
for market share. The majority of companies focus on developing torque
sensors for multiple applications. Key Tier I torque
sensors market players include: ATI Industrial Automation; Honeywell
Sensing and Control; FUTEK Advanced Sensor Technology, Inc; Siemens VDO;
Teledyne Instruments; Delphi and Measurement Specialties.
The 124 page June 2011 World torque
sensors market report provides a strategic analysis of the world
torque sensors market, including historic and forecast data between
2007-2017. The global
torque sensors market report includes information relating to the
type and system of industry participants; market developments; drivers
and restraints, as well as technological analysis. The report is split
by product segment and geography: North America, Europe, Asia Pacific
and Rest of World, with information provided in the form of charts and
graphs, with supporting commentary.
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