Global Automotive Steering Angle Sensor
Market Report
2024
The Global Automotive Steering Angle Sensor market will be USD 12512.2 million in 2024 and expand at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, The Global Automotive Steering Angle Sensor market will be USD 12512.2 million in 2024 and expand at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Automotive Steering Angle Sensor Market Sales Revenue 2024 | $ 12512.2 Million |
Global Automotive Steering Angle Sensor Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.5% |
North America Automotive Steering Angle Sensor Sales Revenue 2024 | $ 5004.88 Million |
North America Automotive Steering Angle Sensor Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.7% |
Europe Automotive Steering Angle Sensor Sales Revenue 2024 | $ 3753.66 Million |
Asia Pacific Automotive Steering Angle Sensor Sales Revenue 2024 | $ 2877.81 Million |
Asia Pacific Automotive Steering Angle Sensor Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 8.5% |
South America Automotive Steering Angle Sensor Sales Revenue 2024 | $ 625.61 Million |
South America Automotive Steering Angle Sensor Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.9% |
Middle East and Africa Automotive Steering Angle Sensor Sales Revenue 2024 | $ 250.24 Million |
Middle East and Africa Automotive Steering Angle Sensor Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.2% |
Market Split by Type |
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Market Split by Technology |
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Market Split by Vehicle Type |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Automotive Steering Angle Sensor Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Steering sensors are in more demand now that the automobile industry focuses more on technological advancements like electrification and autonomous driving. In addition, the inclination of manufacturers to incorporate position sensors into cars implies that the industry will keep expanding. Large volumes of data are often processed by autonomous cars, particularly level 4 and level 5 vehicles with self-driving systems, so that the steering system may receive input and the vehicle can drive smoothly, avoid obstructions, and make turns by traffic signals. This is anticipated to boost the Market for this category as these kinds of cars will need more sensors installed.
The need for innovative safety technologies and systems among consumers is rising. As worries about passenger safety have risen, automakers have been forced to include driver-aid systems—particularly steering assistance systems—in their cars. Steering sensors are in high demand due to these considerations.
In addition, the government's implementation of strict fuel economy regulations and global safety protocols are significant catalysts for the growth and advancement of sophisticated steering mechanisms. Electric power steering (EPS) systems with numerous steering sensors give the drivers additional safety advantages.
For instance, in July 2022, TDK Corporation created the TAS4240 tiny analog angle sensor with TMR for use in autos and industrial machinery. The TAS4240 is anticipated to be utilized as a sensor in automotive applications to determine the angle and location of permanent-magnet and brushless DC motors utilized in brake boosters, power steering systems, and other applications.
(Source: https://www.tdk.com/en/news_center/press/20220714_01.html)
The automobile industry is transforming due to the fast growth of electric and driverless cars. For precise control and navigation, future electric and self-driving technologies mostly rely on complex sensor systems, including car steering sensors. As a result, it significantly accelerates market expansion. Cars will require more high-performance, trustworthy steering sensors as electric and driverless cars become popular.
An estimated 1.24 million individuals worldwide lose their lives in traffic accidents each year. A notable rise in incidents has also spurred improved safety system adoption by end users. These considerations force automakers to include several safety-enhancing car features. Consequently, during the past ten years, the automotive industry has seen a rise in the need for electrically powered steering systems in passenger cars, trucks, and buses.
The car industry has seen a paradigm shift because of advanced driver assistance systems, which have improved driving convenience and safety. Automotive steering sensors provide real-time information on vehicle movement, steering angle, and speed, making them crucial ADAS components. The data above is necessary to operate ADAS technology properly, such as automatic parking systems, adaptive cruise control, and lane-keeping assistance.
For instance, the research indicates a considerable growth in the usage of ADAS systems, with an expected 30–40% of new cars being equipped with ADAS features in 2022. Steering sensors will become increasingly in demand as ADAS technologies become standard requirements and governments worldwide prioritize road safety.
High implementation costs, however, can impede market expansion due to investments in R&D for new technologies and shifting consumer demand. The market for automotive steering angle sensors is driven primarily by the need for increased safety and comfort driving features. It is expected that the manufacturers will face significant challenges in their efforts to reduce the weight of Automotive Steering Angle Sensors. One such challenge is the use of lightweight metals in the manufacturing process. The Angle Sensor must withstand the friction of high-temperature engine piston rings while remaining leak-proof, which will have an impact on the market growth rate. The growing inclination of customers towards electric vehicles is anticipated to negatively impact the demand for automotive cylinder liners and hinder the growth rate of the market.
Almost every area of the automobile industry was impacted by COVID-19, including the Market for car steering sensors. Additionally, there was a sharp decline in the Market for vehicle steering sensors due to lockdowns and production halts. Nonetheless, 2021 saw a notable increase in output within the automobile sector, expected to drive up demand for steering sensors throughout the projection period. The heavy commercial vehicle category is expanding as things are returning to normal, which is expected to support the growth of the automotive steering sensor market throughout the projected period.
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Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Market players are also undertaking organic or inorganic strategic approaches to strengthen and expand their worldwide footprint, with significant market developments including new Material portfolios, mergers and acquisitions deals, capex, investments, and strategic partnerships with other companies. Corporations are also coming up with marketing ideas such as digital acquisitions, social media influencing, and content creation to increase their scope of profit earnings. Because of automation and technological advancement, businesses compete fiercely to deliver innovative products.
Top Companies Market Share in Automotive Steering Angle Sensor Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the Market in 2024 and accounted for around 40% of the worldwide revenue. The automotive steering sensor motor market is anticipated to be driven shortly by technological advances, investments from major players, increasing passenger vehicle demand, and ongoing fleet growth. Additionally, several significant OEMs are working with tech firms to create better goods.
The Asia Pacific region will be a fast-growing region during the projected timeframe. It is projected that the Asia-Pacific area will grow to be the biggest Market for manufacturing these systems, with China, Japan, and India becoming major automotive component manufacturing hubs that feed countries like Germany and the United States. The Asia-Pacific automotive industry has seen notable growth in recent years due to the middle class's increasing per capita income and original equipment manufacturers' (OEMs') cost advantages. Businesses that distribute and offer steering sensors expect significant expansion into other possible markets.
The current report Scope analyzes Automotive Steering Angle Sensor Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
According to Cognitive Market Research, the worldwide Automotive Steering Angle Sensor market size was estimated at USD 12512.2 Million, out of which North America held the major Market of more than 40% of the worldwide revenue with a market size of USD 5004.88 million in 2024 and will expand at a CAGR, commonly known as compounded annual growth rate of 4.7% from 2024 to 2031. The automotive steering sensor motor market is anticipated to be driven shortly by technological advances, investments from major players, increasing passenger vehicle demand, and ongoing fleet growth. Additionally, several significant OEMs are working with tech firms to create better goods. According to Cognitive Market Research, Electric Power Steering holds a prominent market share. The steering angle is measured using steering angle sensors that use physical touch and contact technology. As the steering wheel rotates, parts of these sensors come into close touch with one another. A drive towards more reliable and accurate non-contact solutions has been sparked by the possibility of wear and data mistakes resulting from this contact over time. In conclusion, the North American Automotive Steering Angle Sensor market thrives due to technological advancement.
According to Cognitive Market Research, with a market value of USD 12512.2 million in 2024, it is projected to expand at a growth rate (CAGR) of 5.0% from 2024 to 2031. Europe accounts for over 30% of the worldwide USD 3753.66 million market size due to growing government regulations and the skyrocketing demand for electrified and driverless vehicles. Similarly, future market growth is anticipated due to R&D expenditures in new technologies and reliance on safety features. Analogue Sensors are the fastest-growing category over the forecasted time frame. Analogue Sensors use accurate position data to identify the wheel's exact location. This data is essential for several systems, such as lane departure warning and stability control, which promote safe and knowledgeable driving. In conclusion, the European Automotive Steering Angle Sensor market thrives because of the strong demand for electric automobiles.
According to Cognitive Market Research, the worldwide Automotive Steering Angle Sensor market size was estimated at USD 12512.2 Million, out of which Asia Pacific held the Market of around 23% of the worldwide revenue with a market value of USD 2877.81 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031. It is projected that the Asia-Pacific area will grow to be the biggest Market for manufacturing these systems, with China, Japan, and India becoming major automotive component manufacturing hubs that feed countries like Germany and the United States. The Asia-Pacific automotive industry has seen notable growth in recent years due to the middle class's increasing per capita income and original equipment manufacturers' (OEMs') cost advantages. Businesses that distribute and offer steering sensors expect significant expansion into other possible markets. Electro-hydraulic Power Steering is the fastest-growing category over the forecasted timeframe as it functions independently of one another. They guarantee durability and less wear by using variations in magnetic fields to detect steering wheel movement. The non-contact aspect of magnetic technology, which improves accuracy and durability and corresponds with the Market's emphasis on precision and longevity, is driving this trend. The APAC market is driven by manufacturing facilities and increasing per capita income.
According to Cognitive Market Research, the worldwide Automotive Steering Angle Sensor market size was estimated at USD 12512.2 Million, out of which the Latin America market has more than 5% of the worldwide revenue with a market value of USD 625.61 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031. The entry of foreign businesses into the Region is driving demand for cutting-edge and novel electronic sensor technologies, such as steering sensors in the automotive industry, which will favorably affect market expansion throughout the projection year. According to Cognitive Market Research, Electric Power Steering holds a prominent market share. The steering angle is measured using steering angle sensors that use physical touch and contact technology. As the steering wheel rotates, parts of these sensors come into close touch with one another. A drive towards more reliable and accurate non-contact solutions has been sparked by the possibility of wear and data mistakes resulting from this contact over time. In conclusion, the Latin American Automotive Steering Angle Sensor market exhibits steady growth due to the entry of foreign businesses.
According to Cognitive Market Research, the worldwide Automotive Steering Angle Sensor market size was estimated at USD 12512.2 Million, out of which the Middle East and Africa held the major Market of around 2% of the worldwide revenue with a market size of USD 250.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031. Saudi Arabia held a dominant position in the Middle East and Africa markets. Saudi Arabia's economy is expanding due to the nation's strong banking and finance industry and high levels of individual income. Sales of high-end products like cars and other luxury goods have surged as a result. Younger consumers are becoming the main forces behind the luxury sector, and the nation is seeing rapid population growth. Electric Vehicle is the fastest-growing category over the forecasted timeframe. The expanding global logistics and construction industries drive the demand for electric vehicles- especially trucks. In conclusion, the MEA market exhibits growth potential because younger consumers are becoming the main forces behind the luxury sector, and the Region is seeing rapid population growth.
Global Automotive Steering Angle Sensor Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Automotive Steering Angle Sensor Industry growth. Automotive Steering Angle Sensor market has been segmented with the help of its Type, Technology Vehicle Type, and others. Automotive Steering Angle Sensor market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, digital sensors held the major market share over the forecasted timeframe. The digital sensors feed information to the car's electronic control units, and the motor or pump subsequently gives the steering column the required torque or support. It is also utilized in cars' hydraulic and electronic power steering systems. These days, power steering systems, whether hydraulic or electronic, are standard equipment on all automobiles. The increasing global demand for power steering systems will shortly fuel growth in the digital sensors market.
Analogue sensors are the fastest-growing category over the forecasted time frame. Analogue Sensors use accurate position data to identify the wheel's exact location. This data is essential for several systems, such as lane departure warning and stability control, which promote safe and knowledgeable driving.
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According to Cognitive Market Research, electric power steering holds a prominent market share. The steering angle is measured using steering angle sensors that use physical touch and contact technology. As the steering wheel rotates, parts of these sensors come into close touch with one another. A drive towards more reliable and accurate non-contact solutions has been sparked by the possibility of wear and data mistakes resulting from this contact over time.
Electro-hydraulic power steering is the fastest-growing category over the forecasted timeframe as it functions independently of one another. They guarantee durability and less wear by using variations in magnetic fields to detect steering wheel movement. The non-contact aspect of magnetic technology, which improves accuracy and durability and corresponds with the Market's emphasis on precision and longevity, is driving this trend.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Automotive Steering Angle Sensor market report 2024 Edition by contacting our team.
According to Cognitive Market Research, passenger vehicles hold a prominent market share as they provide vital information to sophisticated safety systems, which improves control, stability, and occupant safety. Because power steering eliminates the need for tubes and fluids throughout the steering system, it is becoming increasingly popular in passenger cars. Two key factors propelling the Market's expansion are the growing use of steer-by-wire technology and the increased use of EPS in contemporary cars.
Electric vehicle is the fastest-growing category over the forecasted timeframe. The expanding global logistics and construction industries drive the demand for electric vehicles- especially trucks. This might lead to a rise in the Market for steering sensors. Accurate steering data is essential for maximizing performance, safety, and efficiency during various operational duties. Steering angle sensors play a major part in light commercial vehicles.
Senior Research Analyst at Cognitive Market Research
An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile & Transportation vertical.
With a work experience of over 10+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as sales, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
I am committed to staying ahead in the rapidly evolving field of research and analysis. This involves regularly attending conferences, participating in webinars, and pursuing additional certifications to enhance my skill set. I played a crucial role in conducting market research and competitive analysis. I have a proven track record of distilling complex datasets into clear, concise reports that have guided key business initiatives. Collaborating closely with multidisciplinary teams, I contributed to the development of innovative solutions grounded in thorough research and analysis.
Disclaimer:
Type | Digital Sensors, Analogue Sensors |
Technology | Electric Power Steering, Electro-hydraulic Power Steering |
Vehicle Type | Passenger Vehicle, Commercial Vehicle, Electric Vehicle |
List of Competitors | Robert Bosch GmbH, Continental AG, Delphi Technologies (now part of BorgWarner Inc.), ZF Friedrichshafen AG, DENSO Corporation, HELLA GmbH & Co. KGaA, Methode Electronics Inc., Stoneridge Inc., Mando Corporation, Autoliv Inc., Others |
This chapter will help you gain GLOBAL Market Analysis of Automotive Steering Angle Sensor. Further deep in this chapter, you will be able to review Global Automotive Steering Angle Sensor Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Automotive Steering Angle Sensor Market Trends North America Automotive Steering Angle Sensor Technological Road Map North America Automotive Steering Angle Sensor Market Drivers North America Automotive Steering Angle Sensor Market Restraints North America Automotive Steering Angle Sensor Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Technology Analysis 2019 -2031
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Chapter 12 Market Split by Vehicle Type Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Automotive Steering Angle Sensor market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Digital Sensors have a significant impact on Automotive Steering Angle Sensor market? |
What are the key factors affecting the Digital Sensors and Analogue Sensors of Automotive Steering Angle Sensor Market? |
What is the CAGR/Growth Rate of Electric Power Steering during the forecast period? |
By type, which segment accounted for largest share of the global Automotive Steering Angle Sensor Market? |
Which region is expected to dominate the global Automotive Steering Angle Sensor Market within the forecast period? |
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