North America Automotive Steering Sensor Market - Forecasts and Trends (2020 - 2025)

The North America automotive steering sensors market is anticipated to register a CAGR of over 10% during the forecast period (2020 - 2025).

• The growth of the market for steering sensors can be attributed to the latest advancements in the steering angle and multifunctional intelligent system sensors, aiding a better and safer drive.
• Advanced safety and security features are no longer restricted to premium vehicles. With the growing awareness among the consumers regarding the advanced safety systems and technologies, they are now focusing on opting vehicles with better safety systems.
• Rising concerns about passenger safety have obliged automobile manufacturers to equip their vehicles with driver assistance systems, including steering assistance systems.
• The integration of numerous steering sensors in analectic power steering (EPS) helps provide additional safety benefits to the driver. Moreover, the enactment of stringent fuel economy norms and safety initiatives by the governments and international associations are considered important drivers for the growth and development of the advanced steering systems (such as EPS), which employ steering sensors comprehensively.

Key Market Trends

Position Sensors Experience the Highest Demand

Advanced safety and security features are no longer restricted to premium vehicles. With the growing awareness among the consumers regarding the advanced safety systems and technologies, they are now focusing on opting vehicles with better safety systems. Rising concerns about passenger safety have obliged automobile manufacturers to equip their vehicles with driver assistance systems, including steering assistance systems. The integration of numerous steering sensors in analectic power steering (EPS) helps provide additional safety benefits to the driver. Moreover, the enactment of stringent fuel economy norms, along with safety initiatives by the governments and international associations, are considered important drivers for the growth and development of the advanced steering systems (such as EPS), which employ steering sensors comprehensively.

With the increasing and continuous developments and innovations in technology, the demand for electronic sensors for these position sensors in the automotive market is more. Hence, the market for automotive position sensors is anticipated to witness significant growth during the forecast period. In recent times, the changing focus of the automotive industry to technological trends, such as electrification and autonomous driving, boosted the demand in the automotive position sensors market. At the same time, the manufacturer's inclination toward the integration of position sensors in vehicles portrays a positive outlook of continuous growth in the automotive position sensor market.

The increasing stringent government regulations regarding automobile safety and global car production have also significantly contributed to the growth of the market. Besides, these main applications, position sensors are used in brake pedal position sensing, clutch pedal position sensing, accelerator pedal position sensing, seat and headrest position sensing, electric roof position sensing, sunroof position sensing, windscreen wiper position sensing, crash sensing, valve position sensing, gear shift position sensing, headlight position sensing, manifold flap position sensing, and seat position sensing. Due to the use of position sensors in a wide range of applications, the position sensors segment of the market is projected to grow significantly during the forecast period.

United States Expected to Lead the Market

In terms of country, the United States is projected to hold the largest share as well as grow with the highest CAGR during the forecast period. Some of the major factors driving the growth in the region are growing environmental concerns, which, in turn, have resulted in the enactment of stringent emission and fuel economy norms, and continuous government support in the form of subsidies. For instance, in January 2020, New Jersey passed a law in for having 330,000 electric cars on its roads by the end of 2025, in addition to that New Jersey wants 85% of cars sold in the state to be electric by 2040.

Along with that, the United States is one of the technologically advanced markets where there is always bottleneck competition between the market participants. The local automotive industry participants are collaborating with new startups to incorporate the latest advancements in the vehicles. For instance,

In June 2018, Infineon technologies AG developed a new magnetic angle sensor, TLE5014. The new product can be easily integrated into a safety-critical EPS system. The TLE5014 sensors meet ISO26262 ASIL C for the single die and ISO26262 ASIL D for the dual die versions.

Competitive Landscape

The North America automotive steering sensors market is dominated by several players, such as Robert Bosch GmbH, Continental AG, Delphi Automotive (Aptiv PLC), DENSO Corporation, Infineon Technologies AG, CTS Corporation, Valeo SA, and HELLA GmbH & Co. KgaA. The automotive steering sensors market in the region has witnessed a lot of new product development in the steering sensors market.

Automotive & Industrial Systems Company (Automotive & Industrial Systems), an in-house company of Panasonic Corporation, developed a miniature, lightweight, high-precision magnetic angle sensor that detects rotation angles of automotive motors used in EPS and hybrid systems. The company expects to start delivering sample products in May and estimates annual sales of JPY 40 billion in 2025.

• The company will promote the sensor to manufacturers of EPS and shift-by-wire transmissions, and hybrid systems that use motors, as both starter and generator motors. The company is expected to start accepting orders around September 2019.

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