Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for political professionals · Friday, March 29, 2024 · 699,713,281 Articles · 3+ Million Readers

Global Automotive Steering Torque Sensors Market Is Projected To Exhibit a CAGR of 6.1%, Over The Forecast Period 2018-2026

Seattle, Dec. 13, 2018 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global automotive steering torque sensors market is projected to exhibit a CAGR of 6.1% over the forecast period (2018 – 2026).

Get a Sample of the Report @ https://www.coherentmarketinsights.com/insight/request-sample/2331

Key trends and analysis of the global automotive steering torque sensors market:

Increasing sales of vehicles worldwide is a major factor propelling demand for automotive steering torque sensors. For instance, according to International Organization of Motor Vehicle Manufacturers statistics (OICA), the total number of vehicles sold in 2016 was 94 million units, which increased to 96 million units in 2017 worldwide. Increasing sales of vehicles is attributed to factors such as rapid urbanization, increasing living standards, and government initiative for road development. Electric power systems that include steering torque sensors help to increase fuel efficiency and reduce overall weight of vehicles. Therefore, increasing demand for electric power systems is expected to propel demand for steering torque sensors over the forecast period.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/automotive-steering-torque-sensors-market-2331

Key Market Takeaways:

  • The global automotive steering torque sensors market is projected to exhibit a CAGR of 6.1% over the forecast period
  • Europe is expected to witness significant growth in the global automotive steering torque sensors market followed by North America. This is due to increasing demand for vehicles in countries such as Germany and the U.K. For instance, according to OICA, sales or new registrations of vehicles in Europe was around 20.9 million units in 2017, which increased from 20.1 million units in 2016. Moreover, presence of key players, especially in Germany and the U.K., is also expected to accelerate growth of the automotive steering torque sensors market in Europe.
  • On the basis of application, passenger cars segment accounted for the highest market share in 2017 and is expected to retain its market position over the forecast period, owing to increasing sales of passenger cars. For instance, according to OICA’s analysis, sales of passenger cars in 2016 was 69.5 million units and increased to 70.8 million units in 2017 worldwide. Increasing sales of passenger cars is attributed to factors such as rapid urbanization, increasing living standards, and government initiative for road development. Therefore, increasing sales of passenger cars is expected to propel demand for electric power system, which in turn boosts the automotive steering torque sensors market growth over the forecast period.
  • Major players operating in the global 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., Limited, and Methode Electronics, Inc.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:
                    Mr. Shah
                    Coherent Market Insights
                    1001 4th Ave. 
                    #3200 
                    Seattle, WA 98154
                    Tel: +1-206-701-6702
                    Email: sales@coherentmarketinsights.com

logo long.jpg

Powered by EIN News
Distribution channels: Technology


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release