Automotive Steering Sensors Market by Component Type, Technology, Vehicle Type, Application, End User

List of Tables

The Automotive Steering Sensors Market was valued at USD 3.31 billion in 2023, expected to reach USD 3.55 billion in 2024, and is projected to grow at a CAGR of 7.88%, to USD 5.64 billion by 2030.

Automotive steering sensors are vital components in vehicles, providing essential data for steering functions and enhancing vehicular safety and performance. These sensors are primarily used in systems like electronic power steering (EPS), advanced driver-assistance systems (ADAS), and autonomous vehicles, making them indispensable in the modern automotive industry. The market for automotive steering sensors is driven by the necessity to improve vehicle safety, efficiency, and performance, catering to a wide range of end-users, including passenger vehicles, commercial vehicles, and high-performance cars. Key growth factors include the rising demand for advanced safety features, stringent regulatory standards for automobile safety, and increasing consumer preference for enhanced driving experience. Opportunities lie in the development of sophisticated sensing technologies, integration with IoT for real-time data analysis, and the proliferation of electric and autonomous vehicles. Companies can capitalize on emerging markets in developing countries, where automotive OEMs are increasing their focus. However, challenges such as high costs of advanced sensor technologies, complex integration processes, and cybersecurity concerns pose limitations to market growth. The market also faces challenges from the rapid pace of technological change, requiring continuous innovation and adaptation. Innovation and research should focus on miniaturization of sensors, improvements in accuracy and reliability, and the development of cost-effective solutions without compromising quality. Furthermore, integration with next-generation automotive electronics and sustainable manufacturing processes offer potential avenues for advancement. The nature of the market is dynamic, marked by intense competition and rapid technological evolution, encouraging firms to differentiate through innovation and strategic partnerships. Overall, companies employing a forward-looking approach with an emphasis on R&D, agility, and strategic collaborations can yield substantial benefits in tapping into this growing market.

KEY MARKET STATISTICS
Base Year [2023]	USD 3.31 billion
Estimated Year [2024]	USD 3.55 billion
Forecast Year [2030]	USD 5.64 billion
CAGR (%)	7.88%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Automotive Steering Sensors Market

The Automotive Steering Sensors Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Growing demand for advanced driver assistance systems (ADAS) in vehicles with enhanced safety features
- Increasing automotive production and sales worldwide boosting the demand for steering sensors
- Rising focus on autonomous and semi-autonomous vehicles requiring accurate steering sensors
- Stringent government regulations and safety standards pushing the adoption of steering sensors in vehicles
Market Restraints
- Limited awareness and adoption of steering sensors in emerging automotive markets, affecting market penetration
- Complexity in sensor calibration and maintenance leading to higher operational costs for automotive manufacturers
Market Opportunities
- Development of advanced steering sensors for autonomous vehicles in the automotive industry
- Growing demand for electric vehicles and the need for specialized steering sensors
- Integration of steering sensors with advanced driver-assistance systems (ADAS) in modern cars
Market Challenges
- Current global economic factors affecting the automotive steering sensors market growth
- Technological advancements and integration issues in the automotive steering sensors industry

Porter's Five Forces: A Strategic Tool for Navigating the Automotive Steering Sensors Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Automotive Steering Sensors Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Automotive Steering Sensors Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Automotive Steering Sensors Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Automotive Steering Sensors Market

A detailed market share analysis in the Automotive Steering Sensors Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Automotive Steering Sensors Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Automotive Steering Sensors Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Automotive Steering Sensors Market

A strategic analysis of the Automotive Steering Sensors Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Automotive Steering Sensors Market, highlighting leading vendors and their innovative profiles. These include AMS AG, Analog Devices, Asahi Kasei Microdevices, Autoliv Inc, Bosch Mobility Solutions, Bourns Inc., Delphi Technologies, Elmos Semiconductor AG, Ibeo Automotive Systems, LG Innotek, Magna International, Melexis, Nexteer Automotive Group Limited, Panasonic Corporation, Renesas Electronics Corporation, Semtech Corporation, Sensirion AG, Thyssenkrupp AG, Toyo Denki Seizo KK, and TT Electronics.

Market Segmentation & Coverage

This research report categorizes the Automotive Steering Sensors Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Component Type, market is studied across Angle Sensors, Position Sensors, Steering Wheel Speed Sensors, and Torque Sensors.
Based on Technology, market is studied across Infrared Sensors, Magnetic Sensors, Optical Sensors, Radar Sensors, and Ultrasonic Sensors.
Based on Vehicle Type, market is studied across Commercial Vehicles and Passenger Cars. The Commercial Vehicles is further studied across Heavy Commercial Vehicles and Light Commercial Vehicles. The Heavy Commercial Vehicles is further studied across Buses and Trucks. The Light Commercial Vehicles is further studied across Delivery Vans and Pickup Trucks. The Passenger Cars is further studied across Compact Cars, Economy Cars, Luxury Cars, and SUVs.
Based on Application, market is studied across Advanced Driver Assistance Systems (ADAS), Anti-lock Braking Systems (ABS), Electric Power Steering (EPS), Electronic Stability Control (ESC), and Vehicle Dynamics.
Based on End User, market is studied across Aftermarket and OEMs.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-1A1A064C0573

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing demand for advanced driver assistance systems (ADAS) in vehicles with enhanced safety features
  - 5.1.1.2. Increasing automotive production and sales worldwide boosting the demand for steering sensors
  - 5.1.1.3. Rising focus on autonomous and semi-autonomous vehicles requiring accurate steering sensors
  - 5.1.1.4. Stringent government regulations and safety standards pushing the adoption of steering sensors in vehicles
- 5.1.2. Restraints
  - 5.1.2.1. Limited awareness and adoption of steering sensors in emerging automotive markets, affecting market penetration
  - 5.1.2.2. Complexity in sensor calibration and maintenance leading to higher operational costs for automotive manufacturers
- 5.1.3. Opportunities
  - 5.1.3.1. Development of advanced steering sensors for autonomous vehicles in the automotive industry
  - 5.1.3.2. Growing demand for electric vehicles and the need for specialized steering sensors
  - 5.1.3.3. Integration of steering sensors with advanced driver-assistance systems (ADAS) in modern cars
- 5.1.4. Challenges
  - 5.1.4.1. Current global economic factors affecting the automotive steering sensors market growth
  - 5.1.4.2. Technological advancements and integration issues in the automotive steering sensors industry
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Automotive Steering Sensors Market, by Component Type

6.1. Introduction
6.2. Angle Sensors
6.3. Position Sensors
6.4. Steering Wheel Speed Sensors
6.5. Torque Sensors

7. Automotive Steering Sensors Market, by Technology

7.1. Introduction
7.2. Infrared Sensors
7.3. Magnetic Sensors
7.4. Optical Sensors
7.5. Radar Sensors
7.6. Ultrasonic Sensors

8. Automotive Steering Sensors Market, by Vehicle Type

8.1. Introduction
8.2. Commercial Vehicles
- 8.2.1. Heavy Commercial Vehicles
  - 8.2.1.1. Buses
  - 8.2.1.2. Trucks
- 8.2.2. Light Commercial Vehicles
  - 8.2.2.1. Delivery Vans
  - 8.2.2.2. Pickup Trucks
8.3. Passenger Cars
- 8.3.1. Compact Cars
- 8.3.2. Economy Cars
- 8.3.3. Luxury Cars
- 8.3.4. SUVs

9. Automotive Steering Sensors Market, by Application

9.1. Introduction
9.2. Advanced Driver Assistance Systems (ADAS)
9.3. Anti-lock Braking Systems (ABS)
9.4. Electric Power Steering (EPS)
9.5. Electronic Stability Control (ESC)
9.6. Vehicle Dynamics

10. Automotive Steering Sensors Market, by End User

10.1. Introduction
10.2. Aftermarket
10.3. OEMs

11. Americas Automotive Steering Sensors Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Automotive Steering Sensors Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Automotive Steering Sensors Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
14.4. Strategy Analysis & Recommendation

Companies Mentioned

1. AMS AG
2. Analog Devices
3. Asahi Kasei Microdevices
4. Autoliv Inc
5. Bosch Mobility Solutions
6. Bourns Inc.
7. Delphi Technologies
8. Elmos Semiconductor AG
9. Ibeo Automotive Systems
10. LG Innotek
11. Magna International
12. Melexis
13. Nexteer Automotive Group Limited
14. Panasonic Corporation
15. Renesas Electronics Corporation
16. Semtech Corporation
17. Sensirion AG
18. Thyssenkrupp AG
19. Toyo Denki Seizo KK
20. TT Electronics