China Automotive Steering Sensors Market
The market for automotive steering sensors in China is estimated to grow at a CAGR of 14.75% till 2020. The growth of China in Asia-Pacific steering sensor market is driven significantly by the growth in the China Automotive Sensor Market. The use of sensors in vehicle has rapidly increased with the increase in demand of passenger vehicles from China. China has introduced the safety regulations to running a New Car Assessment Program, C-NCAP, with standards that will match those of Europe. There has been some significant legal and social changes in China soon after the implementation of these regulations. The use of seat belt has become mandatory and most importantly limits for drunk driving have been reduced. Thereby with the stringency in the limitation of drunk driving, steering sensors integrated with biosensors (detect and monitor the alcohol levels of the driver) has gone up and would continue to significantly grow up in the forecast period. China’s government has promoted C-NCAP’s safety assessments has, which also 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 sales of the steering sensors. The automotive sensor manufacturers are primarily concentrated in China along the Yangtze River delta region, accompanied by a regional layout formation in Beijing, Shanghai, Nanjing, Shenzhen, Shenyang, Xi\'an, and other central cities, of which, the Shanghai, Wuxi, and 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 level of safety content in the vehicles has increased significantly. Thereby with the increase in the number of Chinese manufacturers involved in the manufacturing of automotive sensors, there would be significant increase in the research and development of steering sensor in the forecast period. The market was segmented based on the technology type, by type, and by country. BEI Sensors, Kraus Messtechnik GmbH, Hella KGaA Hueck & Co, Honeywell, Mountz Incorporated, TE Connectivity Ltd., Guangzhou Jin Sheng Xi Auto Parts Co. Ltd., Guangzhou Depei Trading Co., Ltd. China’s private and joint-ventured 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. 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 scenarios, rising prospective opportunities and identification of key companies, in the steering sensor market which can influence the market in China. Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares in China.