China Automotive Steering Sensors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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The market for automotive steering sensors in China is estimated to grow at a CAGR of 14.75% by 2020. China’s in the Asia-Pacific steering sensor market is driven significantly by the growth in its automotive sensor market.

China’s Automotive Steering Sensor Market- Drivers

The use of sensors in vehicles has rapidly increased with the increase in demand for passenger vehicles in China. The country has introduced safety regulations to run a New Car Assessment Program, C-NCAP, with standards that will match those of Europe. There have been significant legal and social changes in China soon after the implementation of these regulations. The use of seatbelts has become mandatory and most importantly, limits for drunk driving have been reduced. With this stringency in the limitation of drunk driving, demand for steering sensors integrated with biosensors that detect and monitor the alcohol levels of the drive has gone up and would continue to significantly grow in the forecast period. China’s government has promoted C-NCAP’s safety assessments, which have encouraged buyers to see a five-star rating as a guide to the vehicle’s quality. China, being a global manufacturing hub, holds immense potential for the sale of the steering sensors.

In China, automotive sensor manufacturers are primarily concentrated along the Yangtze river delta region, accompanied by a regional layout formation in Beijing, Shanghai, Nanjing, Shenzhen, Shenyang, Xi'an, and other central cities. Shanghai, Wuxi, and the Nanjing-cored Yangtze river delta region have been gradually equipped with thermo-sensitive, magnetic-sensing, temperature, gas-sensitive, and other sensor production systems and associated industries. In the space of three years, the safety content of the vehicles has increased significantly. With the spike in the number of Chinese manufacturers involved in the manufacturing of automotive sensors, there would be a significant increase in the research and development of steering sensors in the forecast period.

The market was segmented based on the technology type, type, and country. China’s private and joint-venture automotive sensor products dominate the lower and medium-end markets, while the sensors used by the international OEMs are produced primarily by foreign manufacturers, such as Rosemount, Delphi, and Honeywell. As of 2015, 85% of the world's leading steering sensor manufacturers have already accessed the Chinese market.

Some of the key players in the market are:

  • Continental
  • Danfoss
  • Delphi
  • Hella KGaA Hueck & Co.
  • Honeywell
  • TE Connectivity

What the Report Offers

  • Market definition along with identification of key drivers and restraints for the market.
  • Market analysis with region-specific assessments and competition analysis in China.
  • Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies, in the steering sensor market that can influence the market in China.
  • Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share in China.

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