According to the market research report “Dynamometer Product & Services Market (2013-2018) : By Absorption Units (Solid/Hydraulic Friction, Eddy Current); Measurements (Force, Power) & Testing (Turbines, Pumps, Engines, Chassis, Machine Tools, Kinesiology)” published by IndustryARC, the market to reach $1.2 billion by 2020.
Browse market tables, figures spread through pages and in-depth TOC on “Dynamometer Product & Services Market”.
The global dynamometer product & services market is a subset of the allied manufacturing industries such as turbines, compressors, pumps, generators, motors, engines, power trains that form a significant component of automobile, power and aerospace industry. It is applied generally to calculate the force, torque and power requirements from all these components.
Dynamometer is a type of load device rafted in industrial equipment with hefty machineries to measure the magnitude of the power, torque and force required to operate a mechanism. Dynamometers are designed in a variety of sizes and shapes, both of which are determined based on the placement and usage of the equipment. Automotive and Medical industry are among the prominent markets for the applications of dynamometers. In automobiles dynamometers are used to measure the angular speed and torque of the output shaft. A Dynamometer mechanism incorporate two modes of operation named as loading and motoring. Dynamometers are now offered with an additional embedded integral component called as data acquisition systems for specific applications requiring data pattern and trend analysis. The dynamometer at workstations collects the relevant data and transfers it to the commander unit via Ethernet cable for further analysis.
According to a recent study by IndustryARC, the market for the Dynamometer Product & Services Market is estimated to register CAGR of around 7.6 % for the period 2015-2020. The market size is estimated to reach $1.2 billion by 2020 for the Dynamometer Product & Services Market. Manufacturing segment accounted for around 65.7% of the total market for Dynamometer Product & Services. The analysis in the report published by IndustryARC estimates that 2015 is going to be growth year for the Dynamometer Product & Services market, with Asia-Pacific region exhibiting highest growth rate.
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Manufacturing Industry Attributing to the Growth in Electric Motor Demand Will Drive the Revenues for Dynamometer Market
The Dynamometer industry caters to three industries, namely, Manufacturing, Automotive & Aerospace, and Kinesiology. Among all, manufacturing industry was dominant in 2014 followed by Automotive & Aerospace. Manufacturing Industry comprises of five components that includes Motors/Generators, Pumps/Compressors, Propeller/Turbines, Machine Tools and Hydraulic & Pneumatic Equipment. The use of dynamometers in manufacturing sector is dominated by motors and generators testing. This segment contributes to nearly 23% of the global dynamometer revenue.
The increasing factory automation market has increased the demand for electric motors. The call for precision machining along with high production rates has made automation and instrumentation an indispensable aspect of manufacturing units. Almost all the processes in the production and processing plants have been automated in the past decade. According to IndustryARC the global factory automation market is forecast to grow at an annual growth rate of approximately 7.3% in the next six years. Motors are the integral element in factory automation machines, and thus, it is likely that the demand for electric motor in factory automation will further fuel the market for dynamometer in the coming years.
Dynamometers help in measuring the speed, torque and other such parameters which can be used to analyze the motor/generator condition at a given time. The dynamometer testing is conducted periodically to ensure optimal performance and thereby avoid breakdowns, repairs and so on. A dynamometer can measure power produced by an engine and at the same time measure torque along with rotational speed.
The market for dynamometers in motors/generators manufacturing is estimated to grow at an annual growth rate of approximately 6.6% through 2016 to 2021. The Asia-Pacific region is analyzed to rejuvenate the process automation market owing to the escalated demands from the oil and gas extraction, industrial machinery, wastewater treatment, and pharmaceutical verticals. Thus, the continuous development of electric motors market will be crucial for their testing equipment also where dynamometers play a notable role to assess their performance parameters such as torque and power transmission. The global dynamometer market will increase at approximately 7.6% in the same period.
North America is the largest market for dynamometers accounting for revenue of $304.8 million in 2014. This segment is projected to grow to $436.7 million by 2020 as growing demand for hydraulic dynamometers, particularly in energy and power industry drive the market. RoW region is forecast to grow at a very slow CAGR of 0.4% as lack of growth of the manufacturing segment in the Middle East slows down the market. APAC region is forecast to exhibit highest CAGR of 9.8% through 2020 to reach $315.4 million. The significant investment in the manufacturing sector over the next few years will drive this growth.
The dynamometer industry is more inclined towards the quality aspect in order to sustain position in the highly competitive market. The dynamometer has evolved from the need of quality tested equipment in order to minimize defects and eventual failure. The major drivers for dynamometer in automotive applications are enhanced accuracy, increasing demand for vehicle quality standards, and increase in awareness towards quality in developing countries. As the sophistication in the engines are tend to increase in future dynamometer plays pivotal role in measurement, precision and accuracy of the equipment with respect to the speed, force, torque and power.
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