Global Automotive Steering Sensors Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

The global automotive steering sensors market is experiencing a significant surge, fueled by advancements in automotive technology and the rising demand for safety features in vehicles. Steering sensors play a crucial role in enhancing the overall safety and performance of automobiles by providing real-time data about the steering angle, torque, and speed. With the increasing emphasis on driver assistance systems and autonomous driving capabilities, the demand for steering sensors is expected to witness steady growth in the coming years.

One of the key drivers propelling the growth of the automotive steering sensors market is the growing concern for road safety. Governments and regulatory bodies worldwide are implementing stringent safety regulations, mandating the integration of advanced driver assistance systems (ADAS) in vehicles. Steering sensors are integral components of ADAS, enabling features such as lane-keeping assist, adaptive cruise control, and collision avoidance systems. As automotive manufacturers strive to comply with these regulations and meet consumer demand for safer vehicles, the adoption of steering sensors is projected to escalate.

The increasing production of electric and hybrid vehicles is further augmenting the demand for automotive steering sensors. Electric power steering (EPS) systems, which rely on steering sensors for precise control and feedback, are becoming increasingly prevalent in modern vehicles due to their efficiency and eco-friendliness. As the automotive industry continues to transition towards electrification, the market for steering sensors is anticipated to witness substantial growth, driven by the proliferation of EPS systems in electric and hybrid vehicles.

Technological advancements and innovations in steering sensor technology are also contributing to market growth. Manufacturers are focusing on developing advanced sensor technologies, such as torque sensors, angle sensors, and position sensors, to enhance accuracy, reliability, and durability. Additionally, the integration of steering sensors with other sensors and systems, such as cameras, radar, and LiDAR, is enabling the development of more sophisticated driver assistance and autonomous driving functionalities. These factors collectively indicate a promising outlook for the global automotive steering sensors market, with ample opportunities for growth and innovation in the foreseeable future.

Global Automotive Steering Sensors Segment Analysis

In this report, the Global Automotive Steering Sensors Market has been segmented by Sensor Type, Vehicle Type, Technology and Geography.

Global Automotive Steering Sensors Market, Segmentation by Sensor Type

The Global Automotive Steering Sensors Market has been segmented by Sensor Type into Health Monitoring Systems, Torque and Angle Sensors, Intelligent Multi-functional Sensor Systems, Position Sensors and Other Sensor Types.

The global automotive steering sensors market is experiencing significant growth, fueled by advancements in sensor technology and the increasing integration of sensors in modern vehicles. One of the key segments driving this growth is health monitoring systems. These systems play a crucial role in ensuring the safety and performance of vehicles by continuously monitoring various parameters such as steering fluid levels, system pressure, and temperature, enabling timely maintenance and diagnostics.

Another important segment is torque and angle sensors, which are essential for accurately measuring the steering force applied by the driver and the angle of the steering wheel. These sensors provide vital feedback to the vehicle's electronic control unit (ECU), helping optimize steering performance and enhance driving experience. With the rising demand for electric power steering (EPS) systems, the adoption of torque and angle sensors is expected to witness further growth.

Intelligent multi-functional sensor systems represent another significant segment in the automotive steering sensors market. These advanced sensor systems integrate multiple sensor functionalities, such as torque sensing, angle sensing, and position sensing, into a single unit, offering enhanced reliability, efficiency, and cost-effectiveness. As automotive manufacturers increasingly focus on developing autonomous and semi-autonomous vehicles, the demand for intelligent sensor systems capable of supporting advanced driver assistance systems (ADAS) is expected to surge.

Position sensors also play a crucial role in automotive steering systems, providing precise feedback on the position of the steering wheel and enabling various steering functionalities, such as lane-keeping assist and automated parking. With the growing emphasis on vehicle safety and comfort, the demand for accurate and reliable position sensors is on the rise.

Additionally, other sensor types, including speed sensors, pressure sensors, and temperature sensors, contribute to the overall functionality and performance of automotive steering systems. These sensors help monitor various parameters and conditions, ensuring optimal steering operation across different driving conditions.

The segmentation of the global automotive steering sensors market by sensor type highlights the diverse range of sensors essential for ensuring the safety, performance, and functionality of modern vehicle steering systems. With ongoing technological advancements and increasing focus on vehicle electrification and autonomy, the demand for automotive steering sensors is expected to continue its upward trajectory in the coming years.

Global Automotive Steering Sensors Market, Segmentation by Vehicle Type

The Global Automotive Steering Sensors Market has been segmented by Vehicle Type into Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles.

The global automotive steering sensors market is witnessing significant growth, largely driven by advancements in vehicle safety technologies and the increasing demand for assisted driving features. One of the primary factors fueling this growth is the segmentation of the market by vehicle type. Passenger cars represent a substantial portion of the market share, owing to the high volume of passenger vehicles on the roads worldwide. As safety concerns become more paramount among consumers, automotive manufacturers are integrating advanced steering sensor systems into passenger cars to enhance vehicle stability and control.

Moreover, the light commercial vehicles (LCVs) segment is also experiencing considerable growth in the automotive steering sensors market. LCVs play a crucial role in various industries such as logistics, construction, and transportation, where safety and efficiency are paramount. As a result, there is a growing emphasis on equipping LCVs with steering sensor technologies to improve maneuverability, reduce accidents, and enhance overall performance.

In addition to passenger cars and LCVs, heavy commercial vehicles (HCVs) constitute another significant segment in the automotive steering sensors market. HCVs, including trucks and buses, face unique challenges due to their size and weight, necessitating advanced safety systems to mitigate risks on the road. Steering sensors are increasingly being adopted in HCVs to provide real-time feedback to drivers, prevent rollovers, and optimize vehicle handling under various driving conditions.

The segmentation of the global automotive steering sensors market by vehicle type underscores the diverse applications and growing importance of steering sensor technologies across different segments of the automotive industry. With continued advancements in sensor technology and increasing regulatory mandates for vehicle safety, the market is poised for further expansion in the coming years.

Global Automotive Steering Sensors Market, Segmentation by Technology

The Global Automotive Steering Sensors Market has been segmented by Technology into Contacting and Magnetic.

The global automotive steering sensors market is experiencing significant growth, driven by advancements in automotive technology and the increasing demand for safety features in vehicles. One key aspect of this market is its segmentation by technology, with two primary categories: contacting and magnetic sensors.

Contacting sensors utilize physical contact between components to detect motion and measure steering input. These sensors have been a traditional choice in automotive steering systems, providing reliable performance. However, their reliance on mechanical contact can lead to wear and tear over time, potentially affecting accuracy and durability.

Magnetic sensors are gaining traction due to their non-contact nature, offering several advantages over traditional contacting sensors. Magnetic sensors use magnetic fields to detect steering motion, providing accurate and reliable measurements without the need for physical contact. This not only enhances durability but also reduces maintenance requirements, contributing to lower overall costs for vehicle manufacturers and consumers alike.

The increasing adoption of electric power steering (EPS) systems is further driving the demand for magnetic sensors. EPS systems rely on sensors to accurately measure steering input and provide precise control over steering assistance, making them crucial components in modern vehicles.

Global Automotive Steering Sensors Market, Segmentation by Geography

In this report, the Global Automotive Steering Sensors Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Global Automotive Steering Sensors Market Share (%), by Geographical Region, 2023

The global automotive steering sensors market is witnessing significant growth, driven by a surge in demand for advanced safety features and autonomous driving technologies. Across North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, a growing emphasis on vehicle safety and regulatory mandates is propelling the adoption of steering sensors. In North America, particularly in the United States and Canada, stringent safety regulations are pushing automakers to integrate advanced steering sensor technologies to enhance vehicle safety standards. Similarly, in Europe, countries like Germany and the UK are witnessing robust growth owing to the presence of leading automotive manufacturers and the rising trend of electric vehicles equipped with sophisticated steering systems.

Meanwhile, the Asia Pacific region, spearheaded by countries such as China, Japan, and South Korea, is emerging as a lucrative market for automotive steering sensors due to the escalating demand for passenger vehicles and the rapid urbanization leading to increased traffic congestion. Moreover, the proliferation of electric vehicles in this region is further fueling the demand for steering sensors to support the integration of advanced driver assistance systems (ADAS) and enable safer maneuverability.

In the Middle East and Africa, although the market is comparatively smaller, there is a growing awareness regarding vehicle safety and a gradual shift towards incorporating advanced sensor technologies in automobiles. Latin America is also witnessing steady growth, driven by the rising automotive production and the implementation of regulations mandating the inclusion of safety features in vehicles.

The increasing focus on vehicle safety and the advancements in autonomous driving technologies, the global automotive steering sensors market is expected to continue its upward trajectory across all geographical regions, presenting ample opportunities for market players to innovate and expand their presence.

This report provides an in depth analysis of various factors that impact the dynamics of Global Automotive Steering Sensors Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers

• Safety regulations compliance
• Growing vehicle production
• Demand for advanced features
• Focus on autonomous driving

• Integration with electronics: The global automotive steering sensors market is experiencing significant growth owing to the increasing integration of electronics in modern vehicles. Steering sensors play a crucial role in enhancing vehicle safety, stability, and control by providing real-time data on steering movements and angles. With the rising demand for advanced driver assistance systems (ADAS) and autonomous driving technologies, there is a growing need for precise and reliable steering sensors to enable functionalities such as lane-keeping assistance, adaptive cruise control, and automated parking. Moreover, the proliferation of electric vehicles (EVs) and hybrid vehicles is further driving the adoption of steering sensors, as these vehicles rely heavily on electronic control systems for efficient power delivery and vehicle dynamics management.

  The automotive industry's shift towards electric power steering (EPS) systems is fueling the demand for steering sensors. Unlike traditional hydraulic power steering systems, EPS systems utilize electronic sensors to measure steering input and provide assistance, resulting in improved fuel efficiency and reduced emissions. Furthermore, stringent government regulations mandating the integration of safety features in vehicles to mitigate accidents and enhance occupant protection are also driving market growth. As automotive manufacturers continue to prioritize innovation and technological advancements, the automotive steering sensors market is poised for continued expansion, offering lucrative opportunities for sensor manufacturers and suppliers.

Restraints

• High initial investment
• Compatibility issues
• Limited sensor accuracy
• Market fragmentation

• Data privacy concerns: Data privacy concerns have become a significant focal point across industries, including the automotive sector. With the rapid integration of advanced technology into vehicles, such as sensors for steering systems, the amount of data collected and processed has escalated. While these sensors provide invaluable insights for vehicle performance and safety, they also raise concerns about the privacy and security of the data they collect. Manufacturers are tasked with implementing robust data protection measures to safeguard sensitive information from unauthorized access or misuse. Additionally, regulatory bodies are increasingly scrutinizing data handling practices within the automotive industry, prompting companies to adopt stringent compliance measures to ensure data privacy and mitigate potential risks.

  The global automotive steering sensors market continues to expand as automakers prioritize safety, efficiency, and enhanced driving experiences. Steering sensors play a pivotal role in modern vehicles, offering real-time feedback and enabling advanced driver assistance systems (ADAS) to enhance vehicle control and safety. However, alongside the proliferation of these sensors comes the challenge of managing the vast amounts of data they generate. Addressing data privacy concerns is imperative for industry players to maintain consumer trust and comply with evolving regulations. As the automotive sector moves towards autonomous driving and interconnected systems, prioritizing data privacy will remain a critical aspect of technological advancement in the industry.

Opportunities

• Emerging markets expansion
• Technological advancements
• Increased sensor applications
• Collaborations for innovation

• Focus on energy efficiency: The global automotive steering sensors market is experiencing a significant surge in demand, largely fueled by a growing emphasis on energy efficiency and safety within the automotive industry. Steering sensors play a crucial role in modern vehicles, facilitating advanced driver-assistance systems (ADAS) and electronic stability control (ESC) systems. These sensors enable vehicles to react swiftly and accurately to changing road conditions, enhancing overall safety and driving experience. Moreover, with increasing concerns about environmental sustainability, automakers are prioritizing energy-efficient solutions, including electric power steering systems that rely heavily on sensor technology to optimize performance while minimizing energy consumption. As a result, the automotive steering sensors market is expected to witness steady growth in the coming years as manufacturers continue to innovate and integrate sensor technologies into next-generation vehicle platforms.

  In addition to safety and energy efficiency considerations, the global automotive steering sensors market is also being influenced by the rise of autonomous driving technology. As automakers race to develop fully autonomous vehicles, steering sensors are becoming even more essential for enabling precise and reliable steering control in various driving scenarios. These sensors, along with other advanced technologies such as LiDAR and radar, form the foundation of autonomous driving systems by providing real-time data and feedback to onboard computer systems. Furthermore, the integration of steering sensors with artificial intelligence (AI) algorithms allows for adaptive steering assistance, making driving safer and more efficient. With continuous advancements in sensor technology and increasing investments in autonomous driving research, the automotive steering sensors market is poised for robust growth, driven by the dual imperatives of safety and energy efficiency in the automotive industry.

Key players in Global Automotive Steering Sensors Market include:

• 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

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis