Automotive Steering Torque Sensor Market Competitive Strategy by 2034

Automotive Steering Torque Sensor Market Strategic Growth, Innovation & Investment Trends

The automotive steering torque sensor market is expected to grow from USD 9.3 billion in 2025 to USD 18.49 billion by 2034, with a CAGR of 7.93% throughout the forecast period from 2025 to 2034.

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Introduction

The automotive steering torque sensor market is a crucial sector of the automotive industry. This industry deals in manufacturing and distribution of automotive steering torque sensors across the world. There are several types of torque sensors available in the market comprising of analog torque sensors, digital torque sensors, wireless torque sensors and others. These sensors are designed for different vehicles consisting of passenger cars, commercial vehicles, electric vehicles and some others. It has various applications in steering assist systems, adaptive cruise control systems and lane departure warning systems. The growing sales of commercial vehicles in different parts of the world has boosted the market growth. This market is expected to grow drastically with the rise in the automotive technology sector across the globe.

• According to the International Organization of Motor Vehicle Manufacturers, around 24226493 commercial vehicles were sold in 2022 that increased to 27452301 in 2023.

Highlights of the Automotive Steering Torque Sensor Market

• Asia Pacific held the highest share of the automotive steering torque sensor market due to the growing sales of electric vehicles in this region.
• North America is expected to grow with a significant CAGR due to the presence of several automotive brands in this region.
• The passenger cars segment dominated the market due to the rising sales of passenger vehicles across the world.
• The OEM segment led the market due to the increasing consumer preference towards genuine products.

Automotive Steering Torque Sensor: Stats and Figures

• According to the Our World in Data, more than 93% of the new cars sold in Norway were electric during 2023.
• According to the SMEV (Society of Manufacturers of Electric Vehicles), around 128445 EVs were sold in India during October 2024.
• According to the ACEA, the automotive components industry of India generated a revenue of around US$ 74.1 billion in 2024.
• According to the OICA, around 65272367 passenger cars were sold globally in 2023.

Industry Leader Announcement

In May 2023, Jörg Weisgerber, Managing Director Electronics at HELLA announced that, “With the latest customer orders, we are setting the course towards all-electric steering systems. This once again underlines the pronounced future orientation of our electronics portfolio, At the same time, we are demonstrating our distinctive capabilities in bringing safety-relevant vehicle components to series production along key automotive growth areas, in this case steer-by-wire."

Geographical Insights

Asia Pacific held the dominant share of the automotive steering torque sensor market. The market is driven by the rising integration of ADAS in vehicles. Moreover, the growing investment by automotive component brands for developing advanced torque sensors along with presence of several electric vehicle companies has boosted the industrial expansion in this region.

In Asia Pacific, China is the major contributor of this market. The growing sales of automotives along with technological developments in automotive sector has boosted the market expansion. Also, the rise in number of automotive startups coupled with increasing government investment for developing the automotive sector is expected to propel the growth of the market in this country.

Competitive Landscape

The automotive steering torque sensor market is a highly fragmented industry with the presence of several dominating players. Some of the crucial players in this industry consists of Honeywell International, Sensor Technology, Valeo, Denso Corporation, Crane Electronics, TE Connectivity, Kistler Instruments Pvt. Ltd., Norbar Torque Tools Ltd., Bourns, Inc., Continental AG and some others. These companies are constantly engaged in developing advanced torque sensors and adopting numerous strategies to maintain their dominant position in this industry.

• According to the annual report of Continental AG, the revenue of the company in 2022 was 39408.9 million euros in 2022 that increased to 41420.5 million euros in 2023.

Market Segmentations

By Sensor Type

• Health Monitoring Systems
• Torque Sensors
• Intelligent Multi-functional Sensor Systems
• Position Sensors/Angle Sensors
• Other Sensor Types

By Vehicle Type

• Passenger Vehicle
• Light Weight Commercial Vehicle
• Heavy Weight Commercial Vehicle

By Technology

• Contacting
• Magnetic

By Sales Channel

• Original Equipment Manufacturer
• After Market

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa