Automotive Steering Sensors Market Drivers, Trends, and Forecast by 2031

MARKET OVERVIEW

An automotive steering sensor is one the most crucial part in the Electronic Stability Control (ESC) system, which measures the position angle as well as the rate of turn of a steering wheel. Rapid advancing technology for steering angle sensors, ensure safer drive by sensing the firmness of drivers' grip. Automotive steering sensor market is anticipated experience significant growth all over the world in coming years.

MARKET SCOPE

The

"Global Automotive Steering Sensors Market Analysis to 2031"

is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the automotive steering sensors market with detailed market segmentation by type, technology, and geography. The report provides key statistics on the market status of the leading automotive steering sensors market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on type, the global automotive steering sensors market is segmented into angle and torque sensors, motor position sensors, health monitoring systems, multi-functional sensor systems and others.
  
•   On the basis of technology, the market is segmented into magnetic, contacting and others.
  

MARKET DYNAMICS

Drivers:

•   Growing production of high-end vehicles all over the world.
  
•   Rising urbanization and increasing per capita disposable income to boost the market growth of automotive steering sensors.
  
•   Rapidly advancing technology further drives the demand for automotive steering sensors
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive steering sensors market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive steering sensors market in these regions.

IMPACT OF COVID-19 ON AUTOMOTIVE STEERING SENSORS MARKET

The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities. This pandemic limited the movement of people from one place to another. Also, due to less demand, production of automobiles reduced drastically across the globe. These all impacted the automotive steering sensors market negatively.

MARKET PLAYERS

The report covers key developments in the automotive steering sensors market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from automotive steering sensors market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive steering sensors in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the automotive steering sensors market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Sensata Technologies, Inc.
  
•   Bourns, Inc.
  
•   De Amertek Corporation
  
•   HELLA GmbH and Co. KGaA
  
•   Honeywell International Inc
  
•   Infineon Technologies AG
  
•   Methode Sensor Technologies
  
•   NXP Semiconductors
  
•   Piher Sensors and Controls
  
•   Robert Bosch GmbH
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Automotive Steering Sensors Report Scope