Global Automotive Steering Torque Sensor Market was valued US$ XX Mn. in 2019 and the total revenue is expected to grow about CAGR 8.21% from 2020 to 2027, reaching nearly US$ XX Mn.
Global Automotive Steering Torque Sensor Market: Overview
The Modern automobile contain numerous sensors to increase drivers assistance while vehicle driving. Latest technological adoption in automobile industry is increasing the demand for various sensors in modern vehicle to enhance driving performance and experience. Automotive Steering Torque Sensor is used to calculate the torque, which is applied by the driver while steering. This torque sensor is installed at the steering pinion. The Automotive Steering Torque Sensor is precise and robust digital device used for torque measurement; this installed to improve vehicle safety and operation.
Most of the automobile companies are launching vehicles with electric power steering in the different market. The report has analyzed the demand by region and evaluated the companies on the basis of their production and each segments. It will give a detailed insight about the market size of automotive steering torque in each region and the sensor players that are going to capitalize on the market.
Surge in demand for electrical vehicles, different government’s target of emission control are expected to boost the market for Automotive Steering Torque Sensor Market.
Global Automotive Steering Torque Sensor Market: Development
The Global Automotive Steering Torque Sensor Market is segmented by type into contacting and magnetic (Non Contacting type) sensors. The Non Contact type sensors are advance type of sensors these sensors are widely used in modern vehicle. The Non Contact type of sensors are expensive than contact type sensor and it requires more advance equipment.
Global Automotive Steering Torque Sensor Market: Drivers and Restraints
The demand of Luxury vehicle and premium vehicles along with sports vehicle is increasing Automotive Steering Torque Sensor market. The report has covered the demand by region and numbers of steering torque sensors are required over forecast period by country and automotive OEMs.
Since different governments are making it mandatory to reduce the emissions, standards of emissions control are different in Europe, North America, and Asia Pacific. Having said this, cost of sensors is considered an one of the restraints in growth of the market, however, in forecast period, prices are expected to come down, without harming the profit margins of sensors manufacturers.
Global Automotive Steering Torque Sensor Market1
Global Automotive Steering Torque Sensor Market: Regional Overview
Global Automotive Steering Torque Sensor Market is segmented into Asia Pacific, North America, Europe, South America, and Middle East & Africa. The Asia Pacific region Automotive Steering Torque Sensor Market is expected to grow at XX% in forecasted period, owing to the numbers of vehicle manufacturers and developing economies in this region such as India and China. The Europe and North America region are major market for luxury vehicle and premium vehicle in this region are expected to grow at CAGR of XX%.
The report also helps in understanding Automotive Steering Torque Sensor Market dynamics, structure by analyzing the market segments and projects the Automotive Steering Torque Sensor Market size. Clear representation of competitive analysis of key players By Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Automotive Steering Torque Sensor Market make the report investor’s guide.
Scope of the Automotive Steering Torque Sensor Market
Automotive Steering Torque Sensor Market, By Vehicle Type
• Passenger Vehicle
• Light Weight Commercial Vehicle
• Heavy Weight Commercial Vehicle
Automotive Steering Torque Sensor Market, By Type
Automotive Steering Torque Sensor Market, by Region
• Asia Pacific
• North America
• South America
• Middle East & Africa
Key players operating in Automotive Steering Torque Sensor Market
• Advanced Micro Electronics Co. Ltd.
• Bourns Inc.
• DENSO Corp.
• HELLA GmbH & Co. KGaA
• Honeywell International Inc.
• Infineon Technologies AG
• Methode Electronics Inc.
• Robert Bosch GmbH
• TE Connectivity Ltd.
• Valeo SA
• Crane Electronics
• Sensor Technology
• Kistler Instruments Pvt. Ltd
• Norbar Torque Tools Ltd
• Continental AG
• Delphi Automotive (Aptiv PLC)
• CTS Corporation
• Bourns Inc.
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