Steering Torque Sensors Market is estimated to reach USD 11.00 billion by 2028| Robert Bosch GmbH, Honeywell International, Valeo, Active Sensors, Sensor Technology, TE Connectivity

According to the report, the steering torque sensor market is an established market with increasing regulations, which are to be strictly followed by manufacturers and on-road users and farm tractors.

Steering Torque Sensors Market is projected to reach USD 11.00 billion by 2028, at a CAGR of 6.2% during the forecast period.

This detailed market study focuses on the data obtained from various primary and secondary sources and is analyzed using different tools. It helps in gaining insights about the potential of the market for growth which can facilitate the investors in identifying scope and opportunities. The analysis also provides details of each segment in the global Steering Torque Sensor Market.

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Increasing sales of vehicles worldwide is a major factor propelling the demand for steering torque sensors. For instance, according to the International Organization of Motor Vehicle Manufacturers Statistics (OICA), the total number of vehicles sold in 2016 was 94 million units, which increased to 96 million units in 2017 worldwide. Increasing sales of vehicles can be attributed to factors such as rapid urbanization, improving living standards, and government initiative for road development.

The automotive steering torque sensors market is expected to witness significant growth in the Asia Pacific during the forecast period. For instance, according to International Organization of Motor Vehicle Manufacturers (OICA), the number of passenger cars sold in India increased from 2.95 million units in 2016 to 3.22 million units in 2017. In China, the sales increased from 24.3 million units in 2016 to 24.9 million units in 2017.

Western Europe to witness the highest demand for automotive driving simulators

Western Europe holds the largest share of the global steering torque sensors market. Government regulations of various countries in Europe ensure that vehicles meet the required safety and security standards in coordination with stringent environmental regulations.

Market Segmentation:

By Type:
o Contact
o Non-Contact

By Sales Channel:
o Original Equipment Manufacturer (OEM)
o Aftermarket

By Vehicle Type:
o Passenger (Hatchback, Sedan, SUV, etc.)
o Commercial (Heavy CV, Light CV, Buses, and Coaches)
o Electric Vehicles
o Defense
o Construction
o Farm Tractors
o Others

By Region:
o North America
o Asia Pacific
o Western Europe
o Middle East
o Eastern Europe

This report provides:
1) An overview of Global Steering Torque Sensor Market globally and related technologies.
2) Analysis of global market trends, estimates of each year and annual compound growth rate projections (CAGRs).
3) Identification of new market opportunities and targeted promotion plans for Global Steering Torque Sensor Market.
4) Discussion of R&D and demand for new products and new applications
5) Comprehensive company profiles of key industry players.

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The researchers have studied the market in-depth and have come up with major segments like product type, application and region. Based on their market share, growth prospects, and CAGR, each and every segment and its sub-segments are studied. Each market segment offers in-depth information on market outlook, both qualitative and quantitative.

By Region:

North America
By Country (US, Canada, Mexico)
By Type
By Sales Channel
By Vehicle Type
Western Europe:
By Country (Germany, UK, France, Spain, Rest of Western Europe)
By Type
By Sales Channel
By Vehicle Type
Eastern Europe:
By Country (Russia, Turkey, Rest of Eastern Europe)
By Type
By Sales Channel
By Vehicle Type
Asia Pacific
By Country (China, Japan, India, Rest of Asia Pacific)
By Type
By Sales Channel
By Vehicle Type
Middle East:
By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
By Type
By Sales Channel
By Vehicle Type
Rest of the World
By Region (South America, Africa)
By Type
By Sales Channel
By Vehicle Type

Reasons to Buy This Report:
o Market size estimation of the global automotive steering torque sensors market on a regional and global basis
o The unique research design for market size estimation and forecast
o Profiling of major companies operating in the market with key developments
o Broad scope to cover all the possible segments helping every stakeholder in the market

Contact:

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Office No- A109
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This release was published on openPR.