Automotive steering torque sensors play an important role in steering systems by directly measuring the rotational forces applied to the steering shaft. They are primarily utilized in advanced driver assistance systems such as electronic power steering, automobile stability control, and anti-lock braking systems. The growing emphasis on vehicle safety and introduction of autonomous driving technologies are expected to drive the demand for automotive steering torque sensors over the forecast period.

The Global Automotive Steering Torque Sensors Market is estimated to be valued at US$ 8589.78 Mn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Automotive Steering Torque Sensors are Robert Bosch Gmbh, Denso Corporation, Crane Electronics, Honeywell International, Sensor Technology, Valeo, TE Connectivity, Kistler Instruments Pvt. Ltd., Norbar Torque Tools Ltd., Bourns, Inc., Advanced Micro Electronics Co. Ltd., Methode Electronics, Inc., and others. The key players are focused on developing innovative torque sensors with enhanced accuracy and durability.

The Automotive Steering Torque Sensors Market Size is expected to create significant opportunities for automotive steering torque sensor manufacturers. Furthermore, the increasing adoption of autonomous vehicles will further propel the demand.

Globally, the Asia Pacific region dominated the market and is expected to exhibit the highest CAGR during the forecast period. China, Japan, and India have emerged as major markets for automotive steering torque sensors owing to increasing automotive production and sales.

Market drivers

The increasing demand for advanced driver assistance systems in passenger and commercial vehicles is a major factor driving the growth of automotive steering torque sensors market. Features like stability control, traction control, anti-lock braking help in improving road safety. Furthermore, the growing adoption of electric power steering systems that utilize torque sensor technology is also fueling the market growth. Stringent safety norms especially in European and North American regions have further promoted the integration of torque sensors in vehicle steering systems.

PEST Analysis

Political: The Automotive Steering Torque Sensors Market Size And Trends is governed by strict regulations regarding automotive safety and emissions. Manufacturers must comply with regulations for vehicle automation, driver assistance systems and functional safety standards.

Economic: The global economy recovery is driving automotive production and sales which is positively impacting the demand for automotive steering torque sensors. rising disposable incomes in developing countries is increasing vehicle ownership.

Social: Technology features such as driver assistance, autonomous driving, and connected vehicles are increasingly being adopted. Sensors play a key role providing input data to driver assistance systems. Safety and reliability are important considerations for consumers.

Technological: Advancements in sensor design, materials, and manufacturing processes are improving sensor accuracy, response time and durability. Technologies integrating multiple sensors and software are enabling advanced driver assistance and autonomous driving capabilities. Connectivity integration in sensors allows remote diagnostics.

In terms of value, Asia Pacific holds the largest share of the automotive steering torque sensors market due to high production volumes in China, India, Japan and South Korea. Europe is also a major region supported by strong automotive manufacturing presence in Germany, France, Italy and UK.

North America is anticipated to exhibit the fastest growth during the forecast period owing to rising demands for electric and autonomous vehicles in the US and Canada. Government mandates and investments to develop autonomous vehicle infrastructure will drive additional sensor needs in the region.
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