The global torque sensor market is largely driven by the automotive industry, as torque sensors are widely used in various automobile components for torque measurement. Rising demand for high-performance vehicles, adoption of conditional maintenance systems, penetration of electric power assisted steering (EPAS) systems, and increasing focus on automotive safety and testing are some of the major factors that drive the growth of the global torque sensor market in the automotive industry. High-capacity torque sensors with a capacity of more than 1000 Nm will be the fastest growing capacity segment in the global torque sensor market during the forecast period. Compliance with machine safety regulations worldwide is a major challenge for torque sensor manufacturers, along with the high cost of manufacturing of these sensors. The growing technological advances across industries and increasing penetration of industrial automation and robotics have generated the need for wireless compatibility in torque sensors. Torque sensor manufacturers across the globe are focusing on the development of new and innovative products to increase their market footprint and to penetrate into newer applications across industries.

Imbalance between demand and supply resulting in gap: Less capacity utilization ratio.With steel supply overtaking demand, the capacity utilization ratio has declined to~65% in 2015 from 71% in 2014. Over the past decade, the steel industry has been investing in capacity expansion at a rapid pace because of reasons such as the availability of relatively attractive interest rates for new investments, low production costs, and an open international market.Declining price across streams: Hits profit margins.The iron ore prices declined by almost 69% from January 2014 ($128 per metric ton) to December 2015 ($39 per metric ton). Ferrochrome prices were $1 per pound in January 2015 and reached $0.81 per pound by the end of the year. Thus,the decline in raw material prices has led to a decline in stainless steel prices.Turkey: A bright spot.The Turkish stainless steel market been outperforming other major markets since 2000. The demand increased by 135,000 metric tons in five years (2000-2005) and by 220,000 metric tons in ten years (2005-2015), reaching 450,000 tons in 2015.Turkey grew at a CAGR of about 10% from 2005-2015.In this report, Technavio covers the present scenario and growth prospects of the global stainless steel market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market.

An ultracapacitor is an energy storage device that stores energy through an electric field, whereas a battery stores and generates energy through a chemical reaction. Ultracapacitors can store higher charge quantity than batteries as they conduct electricity through an electric field, making them ideal for applications requiring high electric current and voltage. An ultracapacitor has two electrodes: one positive and one negative. These electrodes are coated with activated carbon, a sponge-like substrate that is porous in nature. The electrode is dipped in an electrolyte consisting of positive and negative ions. When a voltage is applied to the electrode, oppositely charged ions start moving toward the electrode and accumulate at its surface. This movement of oppositely charged ions creates an electric field that helps in storing energy. The electrodes used in ultracapacitors have two charged coating on their surface, thus it is also called double layer capacitor.

The global four-wheeler industry is two faced, where one segment is of passenger cars considered for the personal use, and the other is for commercial use, CVs. Both these segments operate under contrast market dynamics with different customer behavior and value chain. The passenger cars segment is seeing steady growth owing to growing preference for the personal vehicle by families and individuals worldwide. On the contrary, the CV segment is seeing healthy growth rate due to high volumes contributed by countries such as the US and China. This is attributed to high volumes of road transport logistics and international long distance consignments. The key reasons for such growth are the high load barring capacity and comfort of these advanced vehicles. The global four-wheeler industry is highly capital intensive industry, and is poised with many technological innovations. We expect the global four-wheeler market to grow at a CAGR of 3.41% during the forecast period.

The global four wheeler industry is made up of two segments: passenger cars that are meant for personal use and commercial vehicles that are meant for commercial use. Both these segments operate under contrast market dynamics with different customer behavior and value chain. The passenger cars segment is witnessing steady growth owing to the rising preference for personal vehicles by families and individuals across the world. On the contrary, the commercial vehicle segment is witnessing healthy growth rate, offering high volumes contributed by countries such as the US and China. The key reasons for such growth is the higher load bearing capacity, cost effectiveness, and comfort of these vehicles.

The automotive industry is witnessing structural changes since the past decade in the form of engine downsizing, electrification of automotive mechanism, emission regulations, connectivity, and safety. The industry is directly correlated with the economic environment and consumer confidence. The industry had witnessed a downfall during the 2008 sub-prime crisis with automotive sales plummeting along with the major North American OEMs facing financial troubles. During 2010-2012, the industry recovered from the sub-prime crisis with automotive sales reaching to prerecession levels in North America.

The interest of original equipment manufacturers (OEMs) in modifying the instrument cluster to enhance user experience, offer more useful information, and at the same time improve the aesthetics of the vehicle have collectively lead to several innovative versions of the instrument cluster. Electronic instrument clusters have been in the market as early as the 1970s. However, the recent trend skewing from analog to digital systems is paving a conducive technological environment to enable reconfiguration of instrument clusters. In line with this, OEMs are commercializing the same in several vehicle variants (not confining to high-end cars). It is for this reason that the instrument clusters that bear a thin film transistor-liquid crystal display (TFT-LCD) screen as display (as can be reconfigured) can be referred to as automotive reconfigurable instrument cluster.

Racing tires are high-performance tires that are customized for use in racing vehicles. The production of racing tires is capital-intensive and requires a significant degree of hi-tech equipment coupled with highly trained and skilled manpower dedicated to the purpose of engineering and manufacturing. Racing tires are designed to deliver superior performance demanded by racing conditions, and therefore undergo various quality, durability, and speed tests. Natural and synthetic rubber are the primary raw materials in the manufacture of tires. But textile reinforcements like rayon, aramid, nylon, and polyester are also used to manufacture racing tires.

Globally, around 1.3 million people are killed worldwide in road accidents every year. Out of these deaths, nearly 90% are caused by human error, with driver error being the cause behind an estimated 80% of these accidents. This creates a market requirement for a viable and effective pedestrian protection system. Usage of PPS is expected to reduce the rate of pedestrian fatalities by 10%-15% and the rate of pedestrian injuries by 15%-17%. The lower reduction rates are the result of an expected driver misuse of PPS by intentionally disengaging the system.