Market Size of North America Automotive Steering Sensor Industry
| 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 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 Size Summary
The North America automotive steering sensor market is experiencing significant growth, driven by advancements in steering angle and multifunctional intelligent system sensors that enhance vehicle safety and driving experience. The increasing consumer awareness and demand for advanced safety systems have led automobile manufacturers to integrate driver assistance systems, including steering assistance, into their vehicles. This trend is further supported by the integration of steering sensors in electric power steering systems, which offer additional safety benefits. The market is also propelled by stringent fuel economy and safety regulations imposed by governments and international bodies, encouraging the development of advanced steering systems that utilize these sensors extensively.
The market for automotive position sensors is poised for substantial growth, fueled by technological innovations and the automotive industry's shift towards electrification and autonomous driving. The demand for electronic sensors is rising, with position sensors being utilized in various applications such as brake pedal sensing, seat position sensing, and more. The United States is expected to dominate the market, supported by stringent emission norms and government incentives for electric vehicles. The region's technological advancements and competitive landscape, with collaborations between established automotive players and startups, further bolster market growth. Key industry players, including Robert Bosch GmbH, Continental AG, and Infineon Technologies AG, are actively developing new products to meet the evolving market demands.
North America Automotive Steering Sensor Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Vehicle Type
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2.1.1 Passenger Cars
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2.1.2 Commercial Vehicles
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2.2 By Sensor Type
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2.2.1 Health Monitoring Systems
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2.2.2 Torque and Angle Sensors
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2.2.3 Intelligent Multi-functional Sensor Systems
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2.2.4 Position Sensors
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2.2.5 Other Sensor Types
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2.3 By Technology Type
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2.3.1 Contacting
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2.3.2 Magnetic
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2.4 By Country
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2.4.1 United States
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2.4.2 Canada
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2.4.3 Mexico
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2.4.4 Rest of North America
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North America Automotive Steering Sensor Market Size 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.
