Automotive Steering Torque Sensor Market size is set to grow by USD 2.07 bn from 2024-2028, high penetration of eps system in pvs and lcvs boost the market- Technavio

NEW YORK, April 8, 2024 /PRNewswire/ -- The global automotive steering torque sensor market  size is estimated to grow by USD 2.07 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.68%  during the forecast period.  The Automotive Steering Torque Sensor market is driven by electric power steering (EPS) systems, which use magnetic sensing and strain gauge bridges to measure torque. EPS, featuring electric motors and control units, is favored for its fuel efficiency and ease of use in passenger cars, SUVs, and commercial vehicles. Sensor technology, including accelerometers, gyroscopes, and wheel speed sensors, enhances EPS functionality. Market growth is influenced by EV adoption, autonomous driving technologies, and vehicle safety features. 

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Segment Overview 

This automotive steering torque sensor market report extensively covers market segmentation by Application (Passenger cars, Commercial vehicles) Type (Rotary torque sensors, Reaction torque sensors) Geography (APAC, Europe, North America, South America, Middle East and Africa)

Market segmentation by Application

The Automotive Steering Torque Sensor Market is experiencing significant growth due to the increasing demand for advanced steering systems in heavy commercial vehicles, electrification, and autonomous driving. Torque sensors play a crucial role in measuring steering torque, enabling efficient power management in Electric Power Steering (EPS) and Steer-by-Wire systems. OEMs integrate these sensors into various automotive systems, including collision avoidance systems, driver assistance, and advanced steering technologies like UD Active Steering. Torque sensors, such as rotary types, record and measure torque in a rotating system using technologies like magnetic sensing, strain gauge bridges, and non-contact methods. The market is driven by factors like EV adoption, fuel efficiency, and the integration of sensor technology in automotive systems. Heavy-duty (HD) trucks and fuel-efficient automobiles benefit from power steering systems and steering torque sensors, enhancing vehicle production and performance. Sensor fusion with accelerometers, gyroscopes, and wheel speed sensors further improves system accuracy and reliability.

Geography Overview

The Automotive Steering Torque Sensor Market in APAC is experiencing significant growth due to the increasing production of fuel-efficient automobiles and the adoption of advanced steering systems like Steer-by-Wire (SBW) and UD Active Steering. These systems utilize electric motors and hydraulic steering gears, while power steering systems integrate steering torque sensors to record and measure torque in rotating systems. Commercial vehicles, including heavy-duty trucks, also benefit from these advancements. Sensor technology, such as magnetic sensing and strain gauge bridges, plays a crucial role in non-contact torque sensors. Automakers are investing in electromechanical power steering and steering systems to enhance vehicle safety through collision avoidance systems and autonomous driving technologies. The aftermarket for passenger cars and entry-level cars is also experiencing growth due to the increasing demand for fuel efficiency and automation. Extreme vibrations, shocks, and temperature variations are challenges for steering torque sensors, which are addressed through sensor fusion and the integration of accelerometers, gyroscopes, and wheel speed sensors. 

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• The automotive industry experienced significant growth in torque sensor demand in 2018 due to technological advances. EPS systems and automatic transmissions increased the need for high-precision torque measurement. Extreme conditions, entry-level cars, SBW systems, and electrification drive this trend. Torque sensors are essential for power steering systems, autonomous driving technologies, and advanced steering systems. Key players include OEMs and after-market providers.
• The automotive industry's shift towards automation and electrification drives the demand for advanced torque sensors in steering systems. Despite high initial investment, volatile raw material prices and technological advancements fuel market growth. Applications include heavy commercial vehicles, electric power steering, and autonomous driving systems. Key components include electronic control units, motors, and sensors like accelerometers, gyroscopes, and wheel speed sensors. Market trends include steer-by-wire systems, UD Active Steering, and sensor fusion technologies.

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Research Analysis

The Automotive Steering Torque Sensor Market is experiencing significant growth due to the increasing adoption of heavy commercial vehicles with electrification and autonomous driving technologies. These advanced systems require precise measurement of torque for optimal performance and safety. Steering torque sensors, a crucial component of electromechanical power steering systems, play a vital role in recording and measuring the torque generated during vehicle maneuvers. Torque sensors use various techniques such as magnetic sensing, torsion bar angle measurement, and strain gauges to detect and transmit torque data. This information is essential for driver assistance systems, collision avoidance systems, and advanced steering systems to function effectively. As the demand for autonomous vehicles continues to rise, the importance of automotive steering torque sensors in ensuring vehicle safety and automation cannot be overstated. In the context of vehicle production, the integration of steering torque sensors in heavy commercial vehicles is becoming mandatory for meeting stringent safety regulations and consumer expectations. Hall-effect sensors and other advanced sensing technologies are also gaining popularity due to their high accuracy and reliability. The automotive steering torque sensor market is poised for continued growth as the industry embraces the future of autonomous driving.

Market Research Overview

The Automotive Steering Torque Sensor Market is experiencing significant growth due to the increasing demand for advanced driver assistance systems (ADAS) and electric vehicles (EVs). These sensors play a crucial role in vehicle safety and efficiency by measuring the torque applied to the steering wheel and transmitting the data to the power steering system and other vehicle control units. The technology used in these sensors includes strain gauge sensors, angle sensors, and magnetic sensors. The market is driven by factors such as stringent safety regulations, rising consumer preference for safety features, and the growing popularity of EVs. Major players in the market include Bosch, Continental AG, and Delphi Technologies. The market is expected to continue its growth trajectory in the coming years, with a CAGR of over 7% from 2021 to 2028.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Passenger Cars
• Commercial Vehicles
• Type
• Rotary Torque Sensors
• Reaction Torque Sensors
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio