The automotive steering torque sensor market is forecasted to grow by USD 2.07 bn during 2023-2028, accelerating at a CAGR of 6.68% during the forecast period. The report on the automotive steering torque sensor market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by high penetration of EPS system in PVs and LCVs, increasing demand for EVs demanding automotive steering torque sensor, and rapidly increasing electronic content per vehicle.
Technavio's automotive steering torque sensor market is segmented as below:
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
6.51%
CAGR
6.68%
Incremental Value
$2.07bn
By Application
Passenger cars
Commercial vehicles
By Type
Rotary torque sensors
Reaction torque sensors
By Geographical Landscape
APAC
Europe
North America
South America
Middle East and Africa
This study identifies the advent of new and innovative torque sensors as one of the prime reasons driving the automotive steering torque sensor market growth during the next few years. Also, rise in demand for wireless connectivity in torque sensors and electrohydraulic power steering in hcvs will lead to sizable demand in the market.
The report on the automotive steering torque sensor market covers the following areas:
Automotive steering torque sensor market sizing
Automotive steering torque sensor market forecast
Automotive steering torque sensor market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive steering torque sensor market vendors that include ABB Ltd., Advanced Micro Electronics Co. Ltd., AVL List GmbH, Bourns Inc., DENSO Corp., Eltek Systems, FUTEK Advanced Sensor Technology Inc., HELLA GmbH and Co. KGaA, Hitachi Ltd., Honeywell International Inc., Hottinger Bruel and Kjaer GmbH, Infineon Technologies AG, Kistler Holding AG, Methode Electronics Inc., Novanta Inc., Racelogic, Robert Bosch GmbH, SENSOTEC INSTRUMENTS S.A, TE Connectivity Ltd., and Valeo SA. Also, the automotive steering torque sensor market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
4 Historic Market Size
4.1 Global automotive steering torque sensor market 2018 - 2022
4.2 Application Segment Analysis 2018 - 2022
4.3 Type Segment Analysis 2018 - 2022
4.4 Geography Segment Analysis 2018 - 2022
4.5 Country Segment Analysis 2018 - 2022
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Application
6.1 Market segments
6.2 Comparison by Application
6.3 Passenger cars - Market size and forecast 2023-2028
6.4 Commercial vehicles - Market size and forecast 2023-2028
6.5 Market opportunity by Application
7 Market Segmentation by Type
7.1 Market segments
7.2 Comparison by Type
7.3 Rotary torque sensors - Market size and forecast 2023-2028
7.4 Reaction torque sensors - Market size and forecast 2023-2028
7.5 Market opportunity by Type
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 APAC - Market size and forecast 2023-2028
9.4 Europe - Market size and forecast 2023-2028
9.5 North America - Market size and forecast 2023-2028
9.6 South America - Market size and forecast 2023-2028
9.7 Middle East and Africa - Market size and forecast 2023-2028