North America Automotive Steering Sensor Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 10.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Automotive Steering Sensor Market Analysis
The North America automotive steering sensors market is anticipated to register a CAGR of over 10% during the forecast period (2020 - 2025).
- The growth of the market for steering sensors can be attributed to the latest advancements in the steering angle and multifunctional intelligent system sensors, aiding a better and safer drive.
- 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 and 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.
North America Automotive Steering Sensor Market Trends
This section covers the major market trends shaping the North America Automotive Steering Sensor Market according to our research experts:
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.
United States Expected to Lead the Market
In terms of country, the United States is projected to hold the largest share as well as grow with the highest CAGR during the forecast period. Some of the major factors driving the growth in the region are growing environmental concerns, which, in turn, have resulted in the enactment of stringent emission and fuel economy norms, and continuous government support in the form of subsidies. For instance, in January 2020, New Jersey passed a law in for having 330,000 electric cars on its roads by the end of 2025, in addition to that New Jersey wants 85% of cars sold in the state to be electric by 2040.
Along with that, the United States is one of the technologically advanced markets where there is always bottleneck competition between the market participants. The local automotive industry participants are collaborating with new startups to incorporate the latest advancements in the vehicles. For instance,
In June 2018, Infineon technologies AG developed a new magnetic angle sensor, TLE5014. The new product can be easily integrated into a safety-critical EPS system. The TLE5014 sensors meet ISO26262 ASIL C for the single die and ISO26262 ASIL D for the dual die versions.
North America Automotive Steering Sensor Industry Overview
The North America automotive steering sensors market is dominated by several players, such as Robert Bosch GmbH, Continental AG, Delphi Automotive (Aptiv PLC), DENSO Corporation, Infineon Technologies AG, CTS Corporation, Valeo SA, and HELLA GmbH & Co. KgaA. The automotive steering sensors market in the region has witnessed a lot of new product development in the steering sensors market.
- Automotive & Industrial Systems Company (Automotive & Industrial Systems), an in-house company of Panasonic Corporation, developed a miniature, lightweight, high-precision magnetic angle sensor that detects rotation angles of automotive motors used in EPS and hybrid systems. The company expects to start delivering sample products in May and estimates annual sales of JPY 40 billion in 2025.
- The company will promote the sensor to manufacturers of EPS and shift-by-wire transmissions, and hybrid systems that use motors, as both starter and generator motors. The company is expected to start accepting orders around September 2019.
North America Automotive Steering Sensor Market Leaders
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Robert Bosch GmbH
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Continental AG
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DENSO Corporation
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Valeo SA
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HELLA GmbH & Co. KgaA
*Disclaimer: Major Players sorted in no particular order
North America Automotive Steering Sensor Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Vehicle Type
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5.1.1 Passenger Cars
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5.1.2 Commercial Vehicles
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5.2 By Sensor Type
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5.2.1 Health Monitoring Systems
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5.2.2 Torque and Angle Sensors
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5.2.3 Intelligent Multi-functional Sensor Systems
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5.2.4 Position Sensors
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5.2.5 Other Sensor Types
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5.3 By Technology Type
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5.3.1 Contacting
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5.3.2 Magnetic
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5.4 By Country
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5.4.1 United States
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5.4.2 Canada
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5.4.3 Mexico
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5.4.4 Rest of North America
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6. COMPETITIVE LANDSCAPE
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6.1 Vendor Market Share
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6.2 Company Profiles
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6.2.1 Robert Bosch GmbH
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6.2.2 DENSO Corporation
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6.2.3 Valeo SA
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6.2.4 HELLA GmbH & Co. KgaA
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6.2.5 Continental AG
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6.2.6 Honeywell Inc.
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6.2.7 Infineon Technology
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6.2.8 Nxp Semiconductors
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6.2.9 Sensata Technologies
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6.2.10 Bei Sensors
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6.2.11 Methode Electronics Inc.
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Automotive Steering Sensor Industry Segmentation
Steering sensors are crucial for measuring the rotational angle of a steering wheel and communicate information on navigation. The automotive steering sensors market covers the increasing adoption of safety measures in both passenger cars and commercial vehicles, the impact of government regulations on manufacturers, initiatives taken by the government to boost the scope of steering sensors adoption, new innovations, and competitive landscape of players operating the market. Additionally, the report has been segmented by vehicle type, sensor type, technology, and country.
The scope of the report includes:
| By Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
| By Sensor Type | |
| Health Monitoring Systems | |
| Torque and Angle Sensors | |
| Intelligent Multi-functional Sensor Systems | |
| Position Sensors | |
| Other Sensor Types |
| By Technology Type | |
| Contacting | |
| Magnetic |
| By Country | |
| United States | |
| Canada | |
| Mexico | |
| Rest of North America |
North America Automotive Steering Sensor Market Research FAQs
What is the current North America Automotive Steering Sensor Market size?
The North America Automotive Steering Sensor Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)
Who are the key players in North America Automotive Steering Sensor Market?
Robert Bosch GmbH, Continental AG, DENSO Corporation, Valeo SA and HELLA GmbH & Co. KgaA are the major companies operating in the North America Automotive Steering Sensor Market.
What years does this North America Automotive Steering Sensor Market cover?
The report covers the North America Automotive Steering Sensor Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Automotive Steering Sensor Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Automotive Steering Sensor Industry Report
Statistics for the 2024 North America Automotive Steering Sensor market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Automotive Steering Sensor analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
