Automotive Steering Torque Sensors Market Size 2021 Global Opportunities, Trends, Share, Regional Overview, Global Growth, And Country Forecast to 2027

The Automotive Steering Torque Sensors Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The Global Automotive Steering Torque Sensors Market Size is Projected to Reach at a CAGR of 11% during 2021-2027.

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Market Overview:

Torque sensors measure torque through various methods. The basic principle is a mechanical process, which measures the "force" being used (or attempting) to turn an element. Also, when a force of "torque" is applied to a shaft, the shaft twists (by a minimal amount).
Further, improvements in technology and integration of wireless and digital components into torque sensors are expected to help sustain the market's growth. Moreover, Industry 4.0, industrial automation, robotics, and smart factory concepts are increasing the market opportunities for torque sensors. The upward trend in the aerospace, automotive, and medical sectors is driving demand in the market.
Moreover, with demand increasing for improving safety, control, and pilot operations, various aerospace companies are expected to adopt torque sensors because these sensors measure in-flight torque controls, actuation systems, and braking systems. Also, to remain competitive in the market, torque sensor vendors are coming up with new products suitable for specific applications.

Top Leading Companies:

Robert Bosch, Denso, Honeywell, Valeo, TE Connectivity, Kistler Instruments, Bourns, Methode Electronics, Crane Electronics

Recent Development:

April 2021 - Datum Electronics Ltd has partnered with Nautilus Labs to provide shipowners, operators, technical managers, and charterers with a comprehensive vessel digitalization and predictive decision support solution.
January 2020 - TE Connectivity (TE) designed a safety torque sensor with integrated and improved functional safety, including increased accuracy and speed, in advance human-robot collaboration to address the growing demand for safe and collaborative robots in manufacturing.
April 2020 - Infineon Technologies AG announced the completion of the acquisition of Cypress Semiconductor Corporation. The company also stated that the addition of Cypress would let Infineon further strengthen its focus on structural growth drivers and a broader range of applications. This will also accelerate the company’s path for profitable growth. Cypress primarily adds a differentiated portfolio of microcontrollers, connectivity components, software ecosystems, and high-performance memories, all of which complement the company’s power semiconductors, automotive microcontrollers, sensors, and security solutions.
January 2020 - ABB announced plans to launch its smart sensor for rotating machines operating in hazardous areas at Hannover Messe 2020. This new generation of smart sensors may provide high-quality data to enable ABB’s advanced analytics to be used in dangerous locations. This product launch may extend the existing scope of applications for ABB smart sensors with a new generation design for hazardous areas.

Automotive Steering Torque Sensors Market Segmentation by Type:

OEM
Aftermarket

Automotive Steering Torque Sensors Market Segmentation by Application:

Passenger Cars
Commercial Vehicles

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The Asia Pacific is Expected to Account For Significant Market Share
Countries such as Japan, South Korea, China, and India are rapidly transforming their manufacturing sector with automated equipment to increase production efficiency and meet the industry needs. Moreover, the industrial automation and robotic industry are witnessing the growing adoption of rotary torque sensors, which is, in turn, driving the market.
Its automotive sector majorly dominates the demand for torque sensors in India. According to Catapult Organizations report 2021, electric vehicles (EVs) currently account for less than 1% of total vehicle sales in India; the market is increasing and is expected to be worth around at least GBP 4.8 billion (INR 475 billion) by 2025. However, two-wheelers account for the largest share of this market at 62%, followed by three-wheelers at 37%. Further, the favouring government policies and heavy investments from automakers are expected to spike the demand for torque sensors for the automotive industry in India.
On the other hand, according to Hennessy Funds, Japan is the global leader in producing robots and factory automation systems and holds 30% of the worldwide market share. Further, the global demand for industrial robots is growing at 46% annually, and the global robotics market is estimated to reach USD 248.5 billion by 2025. Such figures depict the rising demand for torque solutions in the industrial automation sector, with Japan being the primary aggregator in the market.

Regional Automotive Steering Torque Sensors Market (Regional Output, Demand & Forecast by Countries)

North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And additional.

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Highlights of the Automotive Steering Torque Sensors Market Report:

Detailed overview of Automotive Steering Torque Sensors Market
Changing the Automotive Steering Torque Sensors market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected Automotive Steering Torque Sensors market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Automotive Steering Torque Sensors Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Automotive Steering Torque Sensors Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Automotive Steering Torque Sensors industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.

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