The global automotive steering system market was valued at $29,423.8 million in 2017, and is projected to reach $45,349.8 million by 2025, registering a CAGR of 5.4% from 2018 to 2025. In 2017, Asia-Pacific accounted for the highest share in the global automotive steering system market.
An automotive steering system is set of components used to control the direction of vehicle motion and help driver maneuver the vehicle as per the requirement. The hand-operated steering wheel, steering column, universal joints and rack & pinion mechanism contribute to the automotive steering system component. The development has led to change the steering system from manual steering to power assist steering system. The automotive steering system is considered as non-replaceable in automobiles and is responsible for effective control on vehicles making it a vital component in automobiles. The market for automotive steering system is highly demanding as the steering system is obligatory in automobiles.
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The market is segmented by type of automotive steering system used, which includes hydraulic power steering, electronic power steering, and electro-hydraulic power steering system. Also, based on vehicle type, the market is bifurcated into commercial vehicle and passenger vehicle. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players analyzed in the automotive steering system market include China Automotive Systems Inc., JTEKT Corporation, Nexteer Automotive, Mando Corporation, ThyssenKrupp Presta AG, Robert Bosch Automotive Steering GmbH, Showa Corporation, NSK Ltd, Mitsubishi Electric Corporation, Sona Koyo Steering Systems Ltd., and Hyundai Mobis Co. Ltd
Key Benefits for Automotive Steering System Market:
- This study presents the analytical depiction of the global automotive steering system market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2018 to 2025 to highlight the financial competency of the market.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
Automotive Steering System Key Market Segments:
- Electronic Power Steering
- Hydraulic Power Steering
- Electro Hydraulic Power Steering
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
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Table of Content:
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies
3.3. Porters five forces analysis
3.4. Market share analysis (2017)
3.5. Market dynamics
220.127.116.11. Increasing demand of automotive
18.104.22.168. Adoption of power steering system
22.214.171.124. High cost associated with power steering system
126.96.36.199. Low Penetration of Power steering in Low Segment Vehicles
188.8.131.52. Globe Introduction of Drive-by-wire
184.108.40.206. Increase in sale of automotive vehicles
220.127.116.11. Consumer preference towards driving comfort
CHAPTER 4: AUTOMOTIVE STEERING SYSTEM MARKET, BY TYPE
4.2. ELECTRONIC POWER STEERING
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market analysis by country
4.3. HYDRAULIC POWER STEERING
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market analysis by country
4.4. ELECTRO-HYDRAULIC POWER STEERING
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market analysis by country
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