DUBLIN--(BUSINESS WIRE)--The "Automotive Steering Sensors Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The automotive steering sensors market is anticipated to register a CAGR of over 11% during the forecast period (2020 - 2025).
- Robert Bosch GmbH
- DENSO Corporation
- Valeo SA
- HELLA GmbH & Co. KgaA
- Methode Electronics Inc.
- Continental AG
- Honeywell Inc.
- Infineon Technology
- Nxp Semiconductors
- Sensata Technologies
- Hitachi Metals
- Bei Sensors
- Asahi Kasei
Key Market Trends
Position Sensors Experience the Highest Demand
Advanced safety and security features are no longer restricted to premium vehicles. With the growing awareness among the consumers regarding the advanced safety systems and technologies, they are now focusing on opting vehicles with better safety systems. Rising concerns about passenger safety have obliged automobile manufacturers to equip their vehicles with driver assistance systems, including steering assistance systems. The integration of numerous steering sensors in analectic power steering (EPS) helps provide additional safety benefits to the driver. Moreover, the enactment of stringent fuel economy norms, along with safety initiatives by the governments and international associations, are considered important drivers for the growth and development of the advanced steering systems (such as EPS), which employ steering sensors comprehensively.
With the increasing and continuous developments and innovations in technology, the demand for electronic sensors for these position sensors in the automotive market is more. Hence, the market for automotive position sensors is anticipated to witness significant growth during the forecast period. In recent times, the changing focus of the automotive industry to technological trends, such as electrification and autonomous driving, boosted the demand in the automotive position sensors market. At the same time, the manufacturer's inclination toward the integration of position sensors in vehicles portrays a positive outlook of continuous growth in the automotive position sensor market.
The increasing stringent government regulations regarding automobile safety and global car production have also significantly contributed to the growth of the market. Besides, these main applications, position sensors are used in brake pedal position sensing, clutch pedal position sensing, accelerator pedal position sensing, seat and headrest position sensing, electric roof position sensing, sunroof position sensing, windscreen wiper position sensing, crash sensing, valve position sensing, gear shift position sensing, headlight position sensing, manifold flap position sensing, and seat position sensing. Due to the use of position sensors in a wide range of applications, the position sensors segment of the market is projected to grow significantly during the forecast period.
Asia-Pacific Holds a Significant Share
The Asia-Pacific region is expected to become the major market for the manufacture of these systems, with India, Japan, and China moving toward becoming manufacturing hubs for automotive components and sourcing the same to countries, such as the United States and Germany.
The automotive industry in Asia-Pacific has been very dynamic over the past few years, owing to increasing per capita income of the middle-class population and cost advantages for original equipment manufacturers (OEMs). The region is known for producing compact and cost-effective cars and comprises some of the fastest-developing economies of the world, including China and India.
Asia-Pacific is estimated to be the largest market for automobiles in the world. The growth of the automotive sensors market in Asia-Pacific can be attributed to the growing population and rising income levels, which led to increased demand for automobiles. The automotive sensors market in Asia-Pacific has significant growth potential, owing to low automobile production costs, easy availability of economical labor, lenient emission, safety norms, and government initiatives to support foreign direct investments (FDIs).
With the growing advancement in technology, sensor products have also been consistently upgrading and improved in the automotive industry..
Key Topics Covered:
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Sensor Type
5.1.1 Health Monitoring Systems
5.1.2 Torque and Angle Sensors
5.1.3 Intelligent Multi-functional Sensor Systems
5.1.4 Position Sensors
5.1.5 Other Sensor Types
5.2 Vehicle Type
5.2.1 Passenger Cars
5.2.2 Light Commercial Vehicles
5.2.3 Heavy Commercial Vehicles
5.4.1 North America
5.4.4 South America
5.4.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/nyj3vh
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