The Automotive Steering Systems Market was valued at USD 32.12 Billion in 2022, and is expected to reach USD 44.30 Billion by 2029, exhibiting a CAGR of 4.7% during the forecast period (2023-2029)
Automotive Steering Systems Market Overview:
Giving a thorough overview of the Automotive Steering Systems Market by segment, industry, and geography is the aim of this study. The study provides in-depth details on the main factors influencing the expansion of the Automotive Steering Systems Market. A thorough analysis of the value chain of the market is also included in the research.
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Automotive Steering Systems Market Scope:
The process of gathering revenue data from significant suppliers through secondary research sources is the first step in the research methodology used to analyze and forecast the Automotive Steering Systems Market. When creating market segmentation, vendor offers are also taken into consideration. Using the bottom-up approach, the total size of the Automotive Steering Systems Market was estimated based on the revenue of large companies.
Automotive Steering Systems Market Methodology:
Automotive Steering Systems Market Segmentation:
by Component
1. Hydraulic Pump
2. Steering Column
3. Electric Motor
4. Steering Wheel Speed Sensor
by Technology
1. Electric power steering (EPS)
2. Electrically assisted hydraulic power steering (EHPS)
3. Hydraulic power steering (HPS)
by EPS Type
1. Column-EPS (C-EPS)
2. Pinion-EPS (P-EPS)
3. Rack-EPS (R-EPS)
by Pinion-Type
1. Single
2. Dual
by Mechanism
1. Collapsible EPS
2. Rigid EPS
by Vehicle Type
1. Passenger Car (PC)
2. Light Commercial Vehicle (LCV)
3. Heavy Commercial Vehicle (HCV)
Automotive Steering Systems Market Key Players:
The major players covered in the Automotive Steering Systems Market report are
1. China Automotive Systems, Inc.
2. Nexteer Automotive
3. Hitachi Automotive Systems Americas, Inc.
4. Hyundai Mobis
5. JTEKT Corporation
6. The Mando Corporation
7. NSK Ltd.
8. Robert Bosch GmbH
9. Showa Corporation
10. ThyssenKrupp AG
11. Magna International
12. Mitsubishi Electric Corporation
13. Denso Corporation
14. Sona Corporation
15. Knorr-Bremse AG
16. ZF Friedrichshafen AG
17. Rollax GmbH & Co. KG
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Regional Analysis:
For the global industry’s Automotive Steering Systems Market study, a research team conducted a significant amount of primary and secondary research. To enhance the current data, segment the market, evaluate the overall market size, project the market size, and estimate the growth rate, secondary research has been carried out. There are established methods for determining market value and growth rate. Our team gathers market information and statistics from various sources to offer a more accurate local viewpoint. Multiple regional stakeholders, regional tax laws and policies, consumer behavior, and macroeconomic indicators are examined in order to develop the research’s country-level analysis.
For North America, Europe, Asia-Pacific, the Middle East and Africa, and South America, distinct market share data is given. It is recommended that analysts optimize their competitive advantages and conduct separate competitive analyses of each rival.
COVID-19 Impact Analysis on Automotive Steering Systems Market:
The Automotive Steering Systems Market research also includes a complete assessment of COVID-19’s influence on the Automotive Steering Systems Market based on import, suppliers, and market players.
Key Questions Answered in the Automotive Steering Systems Market Report are:
- Which segment was responsible for the largest share in the Automotive Steering Systems Market?
- How was the competitive scenario of the Automotive Steering Systems Market in the forecast period?
- Which are the key factors responsible for the Automotive Steering Systems Market growth?
- Which region held the maximum share in the Automotive Steering Systems Market in the forecast?
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