by Automotive steering torque sensors are electronic components installed in vehicles steering systems to detect torque applied by the driver to the steering wheel. These sensors help in estimating driver intentions and responding accordingly by adjusting power steering assist levels. The sensors play a crucial role in advanced driver assistance systems such as electronic stability control, lane-keep assist, parking assistance, and autonomous driving.
The global automotive steering torque sensors market is estimated to be valued at US$ 8,589.78 million 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 market 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. These players are focusing on developing advanced torque sensing technologies and establishing partnerships with leading automotive OEMs to strengthen their market presence.
The Automotive Steering Torque Sensors Market Size owing to the rising adoption of advanced driver assistance systems and autonomous vehicles across the globe. Stringent safety and fuel efficiency regulations mandated by governments worldwide are compelling automakers to integrate more driver assistance features in vehicles, which is propelling the demand for steering torque sensors.
Technological advancements in torque sensing technologies such as contactless sensing, MEMS sensors, and sensor fusion are allowing manufacturers to develop compact and high-performance sensors with improved accuracy and durability. These developments are supporting automakers to deliver enhanced driver experience and safety. Miniaturization of sensors is also enabling their integration into additional applications such as electric power steering and steering-by-wire systems.
Market Trends
Rising electrification of Automotive Steering Torque Sensors Market Size And Trends adoption of steer-by-wire technology: Steer-by-wire eliminates the mechanical connection between the steering wheel and tires, instead using electronic sensors and actuators. This is driving the demand for integrated torque and position sensors with high precision and response rate.
Integration of torque sensors with advanced driver assistance systems: Leading automakers are focusing on developing advanced ADAS technologies such as autonomous emergency braking, blind spot detection, and adaptive cruise control. This is propelling the demand for torque sensors with enhanced sensing capabilities to deliver efficient ADAS performance.
Market Opportunities
Development of sensor fusion technology: Sensor fusion integrates data from multiple sensor sources to provide improved virtual driver monitoring and context-aware driver assistance. It can enhance torque sensing accuracy for reliable ADAS and autonomous driving functions.
Integration into electric vehicles: As EVs are equipped with electric power steering instead of hydraulic systems, automakers are focusing on integrating torque sensors with motor control units to optimize power usage based on driving conditions. This offers significant opportunities for torque sensor suppliers.
Impact of COVID-19 on Automotive Steering Torque Sensors Market
The COVID-19 pandemic has adversely impacted the growth of the automotive steering torque sensors market. The outbreak led to nationwide lockdowns in various countries which temporarily halted operations across different industry verticals including automotive. This resulted in reduced demand and disrupted supply chain networks globally. With declining vehicle sales in 2020 due to economic distress and restricted mobility, the demand for automotive torque sensors also declined sharply during this period.
However, with gradual resumption of economic activities and easing of lockdown measures from late 2020, the market has started recovering. The development of COVID vaccines and their wider distribution has boosted consumer confidence. This has led to improving sales of passenger and commercial vehicles in 2021.
Meanwhile, rising demand for advanced driver assistance systems (ADAS) and autonomous driving technologies is also supporting the demand for steering torque sensors. Steering sensors play a crucial role in features like lane keeping assist and adaptive cruise control. Original equipment manufacturers (OEMs) are increasingly integrating such technologies to offer enhanced safety and convenience.
Going forward, the market is projected to grow at a steady pace over the forecast period backed by technological advancements and growing innovations in EV and self-driving vehicles. Nevertheless, the lingering impact of pandemic along with global semiconductor chip shortage continue to pose near-term challenges for full recovery. OEMs and sensor manufacturers will need to closely monitor demand trends and strengthen supply chain operations.
In terms of geography, North America accounts for the largest share of the global automotive steering torque sensors market in terms of value. This concentration is attributed to significant presence of global automakers and their continued efforts to introduce advanced safety systems in vehicles. Meanwhile, Asia Pacific is identified as the fastest growing regional market with China and India expected to be at the forefront of growth. Increasing disposable income, rising vehicle production and sales supported by governmental initiatives are driving the demand for steering sensors across emerging economies of Asia Pacific.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
