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Title: Automotive Teering Torque Sensors Market Analysis | CMI


1
  • Coherent Market Insights
  • Market Research and Business Consulting Services
  • https//www.coherentmarketinsights.com/
  • COVID-19 Impact Tracker

2
AUTOMOTIVE STEERING TORQUE SENSORS MARKET ANALYSIS
  • Automotive Steering Torque Sensors Market Report,
    by Application (Passenger Cars and Commercial
    Vehicles), by Sales Channel Type (OEM and
    Aftermarket), and by Region (North America,
    Europe, Asia Pacific, Latin America, Middle East,
    and Africa) - Size, Share, Outlook, and
    Opportunity Analysis, 2018 2026
  • Steering torque sensor is a device that is used
    for recording and measuring torque of a rotating
    system. Automotive steering torque sensors are
    less affected by vibrations, which further reduce
    noise and increases reliability of vehicles.

3
Market Driver
  • Increasing installation of electric power system
    in luxury cars such as SUVs is one of the primary
    factors that drives growth of the Automotive
    Steering Torque Sensors Market. Automotive
    manufacturers are focused on reducing overall
    weight of vehicles to increase fuel efficiency.
    Electric power system includes steering torque
    sensors to measure torque applied by driver over
    the steering wheel. Therefore, the major benefits
    of replacing hydraulic or mechanical steering
    systems to electric power steering systems, is
    that reduce overall weight and emission of
    vehicles. Therefore, increasing preference of
    electric power system over hydraulic steering
    system propels demand for automotive steering
    torque sensors over the forecast period.

4
Market Opportunities
  • Asia Pacific automotive steering torque sensors
    market is expected to account for the highest
    market share over the forecasted period.
  • The automotive steering torque sensors market is
    expected to witness significant growth in Asia
    Pacific during the forecast period.
  • This is owing to increasing sales of passenger
    cars, especially in emerging economies such as
    India and China. For instance, according to the
    Organisation Internationale des Constructeurs
    dAutomobiles (OICA), the total number of
    passenger cars sold in India was 2,966,637 units
    in 2016 and it increased to 3,227,701 units in
    2017. According to the same source, in China, the
    total number of passenger cars sold was 24.3
    million units in 2016 and it increased to 24.9
    million units in 2017. Increasing sales of
    passenger cars is due to increasing population,
    growing living standards, and government
    initiative towards development of road.
    Increasing sales of passenger cars is expected to
    propel demand for integrating electric power
    system in these cars. Electric power system
    includes steering torque sensors that measure
    torque applied by driver over the steering wheel.
    Therefore, increasing installation of electric
    power system is expected to fuel demand for
    steering torque sensors in Asia Pacific.

5
Figure 1. Passenger Cars Sold in India and China
(), over 2016 2027
6
  • The market in North America is expected to
    witness significant growth over the forecast
    period, owing to increasing sales of electric
    vehicles, mainly in the U.S and Canada. For
    instance, according to the International Energy
    Agencys (IEA) analysis, in the U.S, the sales of
    plug-in electric cars in 2016 was 0.56 million
    and it increased to 0.76 million in 2017.
    Increasing demand for fuel-efficient,
    high-performance, and low-emission cars propel
    demand for electric cars.
  • Moreover, government regulations towards
    reduction of vehicular emission is another factor
    increasing demand for electric cars. Therefore,
    increasing sales of electric cars leads to high
    demand for electric power systems in these cars,
    thereby propelling growth of the automotive
    steering torque sensors market in North America.

7
Figure 2. Global Automotive Steering Market Share
(), by Region (2017 2026)
8
Key Players
  • The global automotive steering torque sensors
    market is fragmented with the presence of both
    international and regional players. Major players
    operating in the automotive steering torque
    sensors market include, 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., Limited, and Methode
    Electronics, Inc.

9
  • Request Sample Report
  • Request Customization
  • Download PDF Brochure
  • Talk to Analyst
  • Reference https//www.coherentmarketinsights.com
    /market-insight/automotive-steering-torque-sensors
    -market-2331

10
About Us
  • Coherent Market Insights is a global market
    intelligence and consulting organization focused
    on assisting our plethora of clients achieve
    transformational growth by helping them make
    critical business decisions.
  • What we provide
  • Customized Market Research Services
  • Industry Analysis Services
  • Business Consulting Services
  • Market Intelligence Services
  • Long term Engagement Model
  • Country Specific Analysis

11
Contact Us
  • Mr. Shah
  • Coherent Market Insights Pvt.Ltd.
  • Address 1001 4th Ave, 3200 Seattle, WA 98154,
    U.S.
  • Phone 1-206-701-6702
  • Email sales_at_coherentmarketinsights.com

12
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