AUTOMOTIVE STEERING TORQUE SENSORS MARKET ANALYSIS

Automotive Steering Torque Sensors market is estimated to be valued at US$ 13,517.4 Mn by 2030.

Steering torque sensor is a device that is used for recording and measuring torque of a rotating system. The steering torque sensor is integrated over electromechanical power steering. Torque sensors primarily record torsion bar angle that is used for steering movement. Steering torque sensors are based on magnetic sensing principles. Automotive steering torque sensors are less affected by vibrations, which further reduce noise and increases reliability of vehicles.

Automotive Steering Torque Sensors Market: Regional Insights

Asia Pacific held dominant position in the Automotive Steering Torque Sensors market in 2022, accounting for 39.4% share in terms of value, followed by North America and Europe.

Figure 1: Automotive Steering Torque Sensors Market Share (%), By Region, 2022

To learn more about this report, Request sample copy

North America is a significant market for automotive steering torque sensors, driven by the presence of a well-established automotive industry and a high demand for advanced safety features. The region's focus on vehicle electrification, autonomous driving, and stringent safety regulations contributes to the growth of the market. The United States and Canada are key countries within this region, with several automotive manufacturers and technological advancements.

Automotive Steering Torque Sensors Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 and the global lockdowns and restrictions imposed to curb the spread of the virus resulted in disruptions in the automotive supply chain. This disruption affected the production and availability of automotive steering torque sensors, leading to delays and supply shortages. The pandemic also led to a decline in global vehicle production as automotive manufacturers faced plant shutdowns and reduced production capacity. This decrease in vehicle production directly impacted the demand for automotive steering torque sensors, as they are an integral part of new vehicle manufacturing. Many automakers postponed the launch of new vehicle models due to the pandemic. This delay had a cascading effect on the demand for automotive steering torque sensors, as the installation of these sensors is typically associated with new vehicle launches.

Automotive Steering Torque Sensors Market- Drivers:

Growing Emphasis on Vehicle Safety

Vehicle safety is a top priority for automakers, regulatory bodies, and consumers. Automotive steering torque sensors play a crucial role in enhancing vehicle safety by providing precise and real-time feedback on steering inputs. The increasing demand for advanced driver assistance systems (ADAS) and the integration of torque sensors in safety features such as lane-keeping assist and collision avoidance systems drive the market. In December 2020, Sensor Technology, a sensor manufacturer based in the UK, introduced an upgraded iteration of non-contact torque sensors. This new generation of sensors utilizes four-element strain gauge bridges, which serve as a complementary alternative to their existing non-contact sensors employing surface acoustic wave (SAW) detection.

Technological Advancements in Automotive Systems

Advancements in automotive systems and technologies are driving the demand for automotive steering torque sensors. Sensor technologies are becoming more advanced, enabling higher accuracy, reliability, and integration with other vehicle systems. The integration of torque sensors with advanced analytics and control systems enhances the performance and safety of vehicles. As an example, in July 2020, NSK Ltd. introduced a novel non-contact torque sensor specifically designed to measure the torque of drive shafts in vehicles in real-time. The implementation of this technology benefits enhanced fuel economy through reduced power consumption, improved ride comfort and safety, and the exploration of new opportunities within the realms of Connected, Autonomous, Shared, and Electric (CASE) technologies.

Automotive Steering Torque Sensors Market- Opportunities:                

Increasing Demand for Advanced Driver Assistance Systems (ADAS)

The growing adoption of ADAS technologies, such as lane-keeping assist, adaptive cruise control, and automated parking, creates opportunities for torque sensor manufacturers. These systems rely on accurate torque sensing to provide precise steering control and enhance vehicle safety. Meeting the increasing demand for ADAS features opens avenues for market expansion. According to the article published On 16th March 2023 by Tyrepress a information service provider, Launch Tech UK supplier of launch automobile diagnostics tool has unveiled its latest research innovation in the form of advanced driver assistance systems (ADAS) calibration equipment specifically designed for passenger cars. The newly introduced ADAS PRO+ and ADAS Mobile systems offer cutting-edge capabilities and functionalities in the field of ADAS technology.  

Electric Power Steering (EPS) Systems in Electric Vehicles (EVs)          

With the rise in EV adoption, there is a growing demand for electric power steering (EPS) systems. EPS systems utilize torque sensors to provide accurate and efficient steering control. Capitalizing on the increasing production and sales of EVs presents an opportunity for torque sensor manufacturers to cater to the specific requirements of EPS systems in EVs. Tesla employs a torque sensor in the steering wheel to assess the driver's attentiveness towards steering. Instances have been reported where drivers in the specific geographical area have been publicly documented for exploiting these systems to maintain a hands-free driving experience. These advancements allow automotive manufacturers to enhance road safety measures.

Automotive Steering Torque Sensors market was valued at US$ 7,378.0 Mn in 2022 and is forecast to reach a value of US$ 13,517.4 Mn by 2030, exhibiting CAGR of 7.9% between 2023 and 2030.

Automotive Steering Torque Sensors Market- Trends:

Increasing Demand for Electric Power Steering (EPS) Systems

There is a growing trend towards the adoption of electric power steering systems in vehicles. EPS systems offer several advantages such as improved fuel efficiency, reduced weight, and enhanced vehicle maneuverability. This trend drives the demand for automotive steering torque sensors designed specifically for EPS applications. In March 2020, Nexter Automotive a motion control technology company introduced a research innovation in the form of a High-Output Electric Power Steering (EPS) system tailored for heavy-duty (HD) trucks and light commercial vehicles (LCVs). This advanced EPS solution offers a range of safety and comfort features, along with improved fuel efficiency, catering specifically to the needs of these vehicle segments.  

Development of Sensor Fusion Technology

Sensor fusion involves the integration of multiple sensors, including torque sensors, to enhance the accuracy and reliability of data in vehicle systems. The integration of torque sensors with other sensors such as accelerometers, gyroscopes, and wheel speed sensors enables comprehensive and precise monitoring of steering behavior. Sensor fusion technology is gaining traction in the automotive industry, leading to increased demand for torque sensors. In September 2022, VERSES Technologies Inc., a leading provider of contextual computing platforms focusing on advanced artificial intelligence (AI) solutions, has inaugurated its sensor fusion lab and research facility in Culver City, California. This lab serves as a showcase for VERSES' comprehensive technology portfolio, prominently featuring COSM, the company's flagship AI operating system. Moreover, the lab provides VERSES' data science and product development teams with an immersive environment to conduct cutting-edge research and facilitate the development and deployment of sensor fusion-based solutions.   

Automotive Steering Torque Sensors Market- Restraints:

Reliability and durability concerns

Automotive steering systems operate in demanding conditions, and the sensors must be able to withstand these challenges. However, ensuring long-term reliability and durability can be a restraint. For example, off-road vehicles or heavy-duty trucks often face extreme vibrations, shocks, and temperature variations that can impact the sensors' performance over time. Manufacturers must invest in robust designs and materials to address these concerns.  

High cost of Sensors

The high cost of steering torque sensors can be a significant restraint. For example, a high-precision steering torque sensor can cost several hundred to several thousand dollars per unit. This cost can limit their adoption in price-sensitive markets or for vehicles with lower price points, such as entry-level cars or commercial vehicles.

Figure 2: Automotive Steering Torque Sensors Market Share (%), By Application Segment, 2022

To learn more about this report, Request sample copy

Automotive Steering Torque Sensors Market- Segmentation:

Automotive Steering Torque Sensors market report is segmented into Application and Sales Channel

By Application: Passenger Cars, and Commercial Vehicles in which the Commercial Segment has categorized into two sub-segments: Heavy Commercial Vehicles and Light Commercial Vehicles

By Sales Channel: Original Equipment Manufacturer and After Market

Automotive Steering Torque Sensors Market: Key Developments

Major market players are focusing on product launches in order to enhance their product portfolio. For instance, in May 2022, Nexteer Automotive and Continental AG have collaboratively expanded their portfolio with two novel software functions that serve as supplementary safety measures for Electric Power Steering (EPS) and Steer-by-Wire (SBW) systems. These software functions are designed to be applicable to all variants of EPS and SBW systems and are compatible with driving automation levels ranging from 1 to 5.

In October 2021, Nexteer Automotive has introduced the modular column-assist electric power steering (mCEPS) system as an expansion to its existing electric power steering (EPS) lineup. This newly added system aims to cater to the requirements of various original equipment manufacturers (OEMs). Nexteer has developed high-performance torque and rotation angle sensors specifically tailored to offer exceptional noise, vibration, and harshness (NVH) characteristics. These sensors ensure a refined and accurate steering experience, enhancing driver connectivity and road feedback in a seamless manner.

In July 2021, UD Trucks Corp. has made an announcement regarding the introduction of UD Active Steering, an innovative technology aimed at significantly improving steering accuracy and driver comfort. This advanced system will be available in Japan specifically for heavy-duty flagship Quon models. UD Active Steering incorporates an electric motor positioned above the hydraulic steering gear, providing supplementary torque as required. The electric motor's electronic control unit (ECU) receives input from various sensors distributed throughout the truck at regular intervals of 2,000 seconds. This facilitates continuous monitoring of both the driving environment and the driver's actions.

In December 2021, ZF has acquired a controlling stake in the Rane TRW Steering Systems joint venture in collaboration with the Rane Group. In an effort to streamline its operations within the Indian market, the newly formed joint venture, known as ZF Rane Automotive India, will focus on the production of steering systems specifically designed for commercial vehicles. This strategic consolidation aims to enhance ZF's presence in the Indian automotive industry and further strengthen its market position.

Automotive Steering Torque Sensors Market: Key Companies Insights

The global automotive steering torque sensors market is fragmented with the presence of both international and regional players. Major players operating in the automotive steering torque sensors market include, Robert Bosch Gmbh, Denso Corporation, Crane Electronics, Honeywell International, Sensor Technology, Valeo, TE Connectivity, Kistler Instruments Pvt. Ltd., Norbar Torque Tools Ltd., Bourns, Inc., Advanced Micro Electronics Co. Ltd., Methode Electronics, Inc., and others

*Definition: Automotive steering torque sensors are electronic devices used in vehicles to measure and monitor the amount of torque or rotational force applied to the steering system. They are typically installed in the steering column or the steering gear and provide crucial feedback about the driver's steering input.