Market Size of North America Automotive Steering Sensor Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 10.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Automotive Steering Sensor Market Analysis
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.
