The Global Steering Torque Sensors Market is projected to reach USD 11.00 billion by 2028, at a CAGR of 6.2% during the forecast period.
The development of electronic power steering (EPS) has driven manufacturers and developers to devise better ways to replace hydraulic parts of more traditional power steering setups. Hoses, belts, and pumps are being replaced by digital sensors and motors in EPS systems.
 For instance, according to the International Organization of Motor Vehicle Manufacturers (OICA) analysis, the sale of passenger cars in 2016 was 69.5 million units and increased to 70.8 million units in 2017 worldwide.
 For instance, according to the International Organization of Motor Vehicle Manufacturers (OICA), the number of passenger cars sold in India increased from 2.95 million units in 2016 to 3.22 million units in 2017. In China, sales increased from 24.3 million units in 2016 to 24.9 million units in 2017.
Key Developments in Steering Torque Sensors Market
o In May 2017, Norbar Torque Tools Group of Companies (UK) was acquired by Snap-on Incorporated of Kenosha, Wisconsin, US.
o In October 2017, Toyoda Gosei (Japan) develops the first steering wheel with a grip sensor in Japan.
o In February 2018, Continental (Germany) and Nvidia (US) form a joint venture for self-driving vehicles.

Companies Covered: Robert Bosch GmbH, Honeywell International, Valeo, Active Sensors, Norbar Torque Tools Ltd., Bourns Inc., Advanced Micro Electronics Co., Sensor Technology, TE Connectivity, Hella KGaA Hueck & Co., Kistler Instruments Pvt. Ltd., and Denso Corporation
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