LONDON--(BUSINESS WIRE)--Feb 1, 2019--Technavio has announced the release of their research report on the global automotive steering sensor market for the forecast period 2019-2023. This automotive steering sensor market analysis report segments the market by application (electric power steering and electro-hydraulic power steering) and geography (APAC, Europe, MEA, South America, and North America).
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Technavio has released a new market research report on the global automotive steering sensor market for the period 2019-2023. (Graphic: Business Wire)
Global automotive steering sensor market size will grow at a CAGR of nearly 9%. There is a rapid increase in the integration of the electronically controlled system in the automotive industry. Innovative technologies are being integrated into vehicles as they offer high comfort and improved safety. System designers and developers are producing and integrating powerful and quality sensors made of advanced materials with improvements in automotive electronics. One such development is the 3D magnetic sensor, which can significantly improve the overall ride quality and has an inherent advantage of mapping complex movements easily.
High penetration of electronic power steering (EPS)
Rising demand for advances in steering systems has increased the penetration rate of EPS, particularly in passenger cars and LCVs. The need for EPS is being boosted by growing demand for technological advances in passenger cars and LCVs in emerging economies and fuel-economy benefits of EPS over hydraulic steering. EPS offers advantages such as energy efficiency, steering flexibility, lighter weight, and easy maintenance over hydraulic steering. The increasing penetration of EPS will drive the global automotive steering sensor market in the coming years.
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“APAC will account for the highest market growth in the coming years. Strong economic growth potential of China and India has been the critical factor boosting market opportunities for passenger cars and attracting global automotive manufacturers to the region. Global players are investing significantly in production and R&D, thereby contributing to the growth of regional automotive steering sensor market in APAC,” says an analyst at Technavio.
Wireless torque sensor systems use RF telemetry to make the sensors more reliable and durable. The rotating sensor and transmitter are powered by batteries or induction power, which permits good movement between the rotating sensor and the stationary loop antenna without affecting signal quality. A dual range torque sensor offers a second range, which is higher than a full-scale range. This development will positively impact steering torque sensors and benefit the automotive steering sensor market.
for a more detailed overview of the market and the segmentation covered in this report
This automotive steering sensor industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several automotive steering sensor products manufacturers including –
BoschDENSOHELLATOKAIRIKAVALEO
Some of the key topics covered in the report include:
Market Landscape
Market ecosystemMarket characteristicsMarket segmentation analysis
Market Sizing
Market definitionMarket size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
Regional comparisonKey leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
Vendors coveredVendor classificationMarket positioning of vendorsCompetitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Technavio’s report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base includes enterprises of all sizes, including more than 100 Fortune 500 companies.
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www.technavio.com
KEYWORD:
INDUSTRY KEYWORD: TECHNOLOGY HARDWARE MANUFACTURING AUTOMOTIVE MANUFACTURING ENGINEERING
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 02/01/2019 10:05 AM/DISC: 02/01/2019 10:05 AM
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