AUTOMOTIVE STEERING TORQUE SENSORS MARKET ANALYSIS

Market Challenges And Opportunities

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- 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.