About Automotive Steering Torque Sensor
Automotive steering torque sensors are used in vehicles with electric power steering (EPS). These sensors measure the steering force applied by the driver and enable the sensitive control of electric steering support. The sensor is based on a contactless magnetic measuring principle and has a magnetic unit, sensor unit, and a flux tube unit.
Technavio’s analysts forecast the global automotive steering torque sensor market to grow at a CAGR of 6.24% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive steering torque sensor market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Steering Torque Sensor Market 2018-2022
Technavio recognizes the following companies as the key players in the global automotive steering torque sensor market: Bosch, DENSO, Honeywell International, TE Connectivity, and Valeo.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is new and innovative torque sensors. The continuously rising innovation coupled with technological advancements in the automotive industry have led to the demand for new as well as improved torque sensors. Moreover, the growing preference for automatic transmission vehicles is also fueling the increased demand for torque sensors.”
According to the report, one driver in the market is high penetration of EPS systems in passenger vehicles and light commercial vehicles. An electric power steering (EPS) is equipped with electric motors and a control unit connected to the sensors, which enables drivers to steer the wheel with less manual force. Moreover, electric steering systems are light-weight, easy to maintain, and offer high energy efficiency.
Further, the report states that one challenge in the market is high initial capital investment. The initial capital investment required for manufacturing torque sensors is high, which poses a major threat to the manufacturing operations. The development and growth of economies have led to volatile raw material prices across industries.
Bosch, DENSO, Honeywell International, TE Connectivity, and Valeo.