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Automotive Steering System Market: Current Analysis and Forecast (2021-2027)

Region:Global

Product Code:UMAU21519

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Published On

November 2021

Total pages

268 Table of Content

Market Overview
Scope Of The Report
Product covered
Table Of Content
Research Methodology
FAQs

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About the Report

Increasing demand of vehicles owing to the overall increase in disposable income of consumers is the major factor driving the demand for steering system. Furthermore, growing adoption of power steering system in vehicles has also helped the market to grow at a reasonable rate. It is said that effective steering system or steering system in the ideal situation increases fuel efficiency of the vehicle, hence, with the overall increasing demand for fuel efficient vehicle is expected to further propel the growth of automotive steering system. In addition, today's customer demand comfort driving in their vehicles, which includes the effortless driving and motility of the vehicle they drive. This can be achieved by using effective steering system, providing ample growth opportunity for the auto component suppliers to produce innovative and efficient steering system to cater to the growth demand from the customers.

Based on Component, the Automotive Steering System Market is segmented into Hydraulic Pump, Steering Column, Steering Wheel Speed Sensor, Electric Motor. XX segment is expected to witness significant growth during the forecast period.

Based on Technology, the market is bifurcated into Electric Power Steering (EPS), Electro-Hydraulic Power Steering (EHPS), Hydraulic power steering (HPS), Manual Steering. In 2020, Electric Power Steering (EPS) dominated the market and is expected to witness significant growth during the forecast period.

Based on Vehicle Type, the market is segmented into Passenger Vehicle, Light commercial vehicle, Heavy commercial vehicle. Owing to high production volume the Passenger Vehicle segment dominate the market and is expected to maintain its dominance throughout the forecast period. Based on Sales Channel, the market is segmented into Supplies to OEM, Aftermarket. Automotive Steering System is majorly supplied to the OEMs.

For a better understanding of the market, the report is analyzed based on different regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, South Korea, Rest of APAC); and Rest of World. Asia-Pacific owing to high vehicle production dominates the market. China was the largest motor vehicle producer in 2020, the country produced more than 25.2 million passenger cars and commercial vehicles in the year. United states was the second largest producer of motor vehicles producing 8.8 million passenger cars and commercial vehicles in 2020. United States produced more commercial vehicles than passenger vehicles.

Some of the major players operating in the market include Robert Bosch, Nexteer Automotive Group Limited, JTEKT Corporation, DENSO Corporation, NSK Steering Systems Co., Ltd., ZF Friedrichshafen AG, Hyundai Mobis Co., Ltd., Cikautxo India Pvt. Ltd., Mitsubishi Electric Automotive America, Inc., Mando Corporation.

Scope of the Report

Products

Automotive Steering System Market was valued at around USD 24.8 billion in 2019.

Companies

Robert Bosch, Nexteer Automotive Group Limited, JTEKT Corporation, DENSO Corporation, NSK Steering Systems Co., Ltd., ZF Friedrichshafen AG, Hyundai Mobis Co., Ltd., Cikautxo India Pvt. Ltd., Mitsubishi Electric Automotive America, Inc., Mando Corporation

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Limitation

1.3. Stake Holders

1.4. Currency used in Report

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Process of the Automotive Steering System Market

2.2. Research Methodology of the Automotive Steering System Market

2.3. Forecasting Method

2.4. Respondent Profile

2.5. Main Objective of the Automotive Steering System Market Study

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 AUTOMOTIVE STEERING SYSTEM MARKET COVID-19 IMPACT

6 AUTOMOTIVE STEERING SYSTEM MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY TYPE OF COMPONENT

7.1. Hydraulic Pump

7.2. Steering Column

7.3. Steering Wheel Speed Sensor

7.4. Electric Motor

8 MARKET INSIGHTS BY TECHNOLOGY

8.1. Electric Power Steering (EPS)

8.2. Electro-Hydraulic Power Steering (EHPS)

8.3. Hydraulic power steering (HPS)

8.4. Manual Steering

9 MARKET INSIGHTS BY VEHICLE TYPE

9.1. Passenger Vehicle

9.2. Light commercial vehicle

9.3. Heavy commercial vehicle

10 MARKET INSIGHTS BY SALES CHANNEL

10.1. Supplies to OEM

10.2. Aftermarket

11 MARKET INSIGHTS BY REGION

11.1. North America

11.1.1. US

11.1.2. Canada

11.1.3. Rest of North America

11.2. Europe

11.2.1. Germany

11.2.2. UK

11.2.3. France

11.2.4. Italy

11.2.5. Rest of Europe

11.3. Asia-Pacific

11.3.1. China

11.3.2. India

11.3.3. Japan

11.3.4. South Korea

11.3.5. Rest of Asia-Pacific

11.4. Rest of World

12 AUTOMOTIVE STEERING SYSTEM MARKET DYNAMICS

12.1. Market Drivers

12.2. Market Challenges

12.3. Impact Analysis

13 AUTOMOTIVE STEERING SYSTEM MARKET OPPORTUNITIES

14 AUTOMOTIVE STEERING SYSTEM MARKET TRENDS

15 LEGAL & REGULATORY FRAMEWORK

16 DEMAND AND SUPPLY SIDE ANALYSIS

16.1. Demand Side Analysis

16.2. Supply Side Analysis

16.2.1. Top Product Launches

16.2.2. Top Business Partnerships

16.2.3. Top Business Expansions

16.2.4. Top Merger and Acquisitions

17 VALUE CHAIN ANALYSIS

18 COMPETITIVE SCENARIO

18.1. Competitive Landscape

18.1.1. Company Shares, By Revenue

19 COMPANY PROFILED

19.1. Robert Bosch

19.2. Nexteer Automotive Group Limited

19.3. JTEKT Corporation

19.4. DENSO Corporation

19.5. NSK Steering Systems Co., Ltd.

19.6. ZF Friedrichshafen AG

19.7. Hyundai Mobis Co., Ltd.

19.8. Cikautxo India Pvt. Ltd.

19.9. Mitsubishi Electric Automotive America, Inc.

19.10. Mando Corporation

20 DISCLAIMER

Research Methodology

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