Europe Automotive Steering Sensor Market - Growth, Trends and Forecasts (2015-2020)
The market for automotive steering sensors in Europe is estimated to grow at a CAGR of 13.73% till 2020. Europe holds the largest market share for the global steering sensor market. The government regulation of the various countries in Europe ensure that the vehicles meet the required safety and security standards in coordination with the stringent environmental regulations. The steering position sensor’s function is to monitor the steering inputs of the driver, which not only includes the angle of the steering wheel, but also the rate at which the driver is turning the wheel. Steering Angle sensor measures the steering wheel angle and velocity through the entire range of steering wheel. Increasing demand for electric vehicles and luxury vehicles is a significant propellant in driving the growth of the market. Steering sensors find their extensive application in the electric hybrid and pure electric vehicles. The demand for fuel efficient vehicles in the light of the regulatory standards of EC and EPA would drive the growth of electric vehicles and in turn, the steering sensors, in the forecast period The evolution of steering sensor has been in the form of digital steering position sensor, which uses LED light for the sensing technology. The LED light acts along with the wheel that acts as a shutter and an optic sensor, which measures interruption in the light. The sensors produce a digital square wave signal with the frequency depending on the speed, the wheel is turning. The signal is low when the wheel is kept straight and it increases as the wheel is turned away from the centre. Methode (who is a prominent vendor in Europe for custom-engineered and application-specific electronics) have introduced capacitive-sensing technology used on non-compliant steering shafts for measuring angular changes and calculates torque. The company is now offering high resolution sensors when measuring torque on steering wheels. The evolution of the steering sensor system had paved its way in the greater adoption of these systems as inevitable optios to assist driving in the ever evolving automotive safety segment during the forecast period. In addition, the growth in the popularity for hybrid and fuel cell vehicles in the forecast period, would also affect the exponential use of sensors for motor speed and position, driving the growth of the market in the region. The market was segmented based on the technology type, by type, and by geography. BEI Sensors, Kraus Messtechnik GmbH, Hella KGaA Hueck & Co, Honeywell, Mountz Incorporated, TE Connectivity Ltd., Continental AG, MTS Systems Corporation and Sensor Developments Inc. are some of the key players in the manufacture of these sensors. Methode Electronic, Robert Bosch GmbH are some of the major players in the sector. The market for steering sensors is expected to grow considerably over the forecast period. WHAT THE REPORT OFFERS 1) Market Definition along with identification of key drivers and restraints for the market. 2) Market analysis with region specific assessments and competition analysis in Europe as well as in the country level. 3) 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 at a regional level. 4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares both at a regional scale and at a country level.