Key vendors investing more on wireless technologies compatible with torque sensors and advanced data collection systems
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global torque sensors market in their latest research report.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated from unit shipments of torque sensors.
This Technavio report, under sensors vertical, is based on the synthesis, analysis, and interpretation of information about the global torque sensors market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The global torque sensor market is very competitive where vendors compete on the basis of technological advances in their products and the delivery of high-quality and accuracy in the measurement of torque. To promote innovation and access to better technology, the large-scale MNCs in the global torque sensor market are engaging in M&As as the market is highly technology-intensive. The large-scale industries prefer to acquire torque sensors through well-established players in the market while SMEs procure torque sensors through smaller domestic or local players, as they get customized solutions at affordable prices. The competition in the market will become more intense due to the lack of technological standardization, as vendors are open to use their preferred technologies for torque sensors. The players can also get modified torque sensors based on their choices which makes the scope of expansion in providing customized torque measurement solutions to industries, highly extensive.
“Vendors in the market are concentrating on accelerating investment in the development of wireless compatibility with torque sensors and advanced data collection systems for torque sensors. They are also focusing on the implementation of new technologies to achieve a breakthrough in the cost-effective manufacturing of torque sensors as the market is facing the major challenge of high initial investments,” says Chetan Mohan, a senior analyst at Technavio for research on sensors.
Top five vendors in the torque sensor market space
ABB
ABB’s operations are systematized into four global divisions such as Electrification Products, Discrete Automation and Motion, Process Automation, and Power Grids. The company widely focuses on innovation and thrives to enhance customer productivity and quality of operation with minimal impact on the environment. ABB is a manufacturer of power and automation technologies with geographical presence across 100 countries.
Key product: Torductor 500.
ATI Industrial Automation
ATI Industrial Automation is involved with the development of industrial automation tools such as automatic tool changers, multi-axis force/torque sensing systems, utility couplers, robotic deburring tools, robotic collision sensors, manual tool changers, and compliance devices. In addition, the company also manufactures robotic accessories and robot arm tooling globally.
Key products: Multi-Axis F/T sensor, Six-Axis F/T sensor (Capacitive F/T), and Wireless F/T.
Crane Electronics
Crane Electronics, earlier known as Interpoint Corporation, manufactures and sells power-conversion and custom products for the aerospace, military, space, medical, industrial, and commercial markets. Crane Electronics offers direct current to direct current (DC-to-DC) converters, electromagnetic interference filters, radiation tolerant power conversion products for space and custom DC-to-DC converters, and special hold-up modules, line conditioning modules, and accessories.
Key products: CheckStar Multi, RFm, CheckStar Rotary, and Stationery Transducer.
FUTEK Advanced Sensor Technology
FUTEK Advanced Sensor Technology delivers products to various industries such as the aerospace, defense, agricultural, automation, automotive, and manufacturing. It is mainly involved with the designing, developing, manufacturing, and supplying of test and measurement products. The company offers load cells, pressure sensors, torque sensors, force sensors, multi-axis load cells, and custom sensors, related instruments and software, including panel mount displays, hand-held displays, strain gauge, and amplifiers. It also delivers system calibration services for sensors and FUTEK Forum, which provides information on load cells, torque sensors, pressure sensors, instruments, and accessories.
Some key products: TAT200, TAT300, TAT410, etc.
HBM Test and Measurement
HBM specializes in both physical and virtual test and measurement and its products find applications across every branch of engineering and industry. The company’s product range covers diverse types of sensors, transducers, amplifiers, strain gauges, data acquisition systems and software for structural durability tests, investigations, and analysis. It is one of the global manufacturers of precision measurement products for applications across various industries. The company also provides services for measurement applications and operates as a subsidiary of the multinational group Spectris, which specializes in the manufacture of precision instrumentation and electronic controls.
Some key products: TB1A, MCS10, TIM-EC, etc.
A more detailed analysis is available in the Technavio report, ‘Global Torque Sensor Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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