In 2023, the Automotive Steering Systems Market Size was valued at USD 36.65 billion, and it is anticipated to reach USD 43.61 billion by 2031, growing at a CAGR of 2.2% from 2024 to 2031.
A detailed study on the Automotive Steering Systems Market encompasses a current industry overview and an extensive analysis of key market factors. The report contains critical data on the industry's evolution and identifies significant trends anticipated to impact market growth in the forthcoming years. After a thorough analysis of past and current growth traits, the market's development prospects are estimated with high accuracy. The initial part of the research features an executive summary with key findings and supply-demand trends. It also provides a comprehensive taxonomy and a clear market definition to assist readers in understanding basic industry facts.
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Key Players
Nexteer Automobile Group Limited (US), JTEKT Corporation (Japan), NSK Ltd. (Japan), Hyundai Mobis Co., Ltd. (South Korea), Showa Corporation (Japan), Mitsubishi Electric Corporation (Japan), Sona Koyo Steering System Ltd. (India), TRW Automotive Holdings (US), Thyssenkrupp Presta (US), China Automotive System Inc. (China) and Robert Bosch GmbH
Market Segmentation
The worldwide Automotive Steering Systems Market is segmented into a sizable number of categories in order to cover every aspect of the industry and provide readers with a thorough market knowledge approach. This study explains the key macroeconomic factors that are expected to have an impact on market growth throughout the course of the projected period. This section examines macroeconomic challenges as well as the market's value chain, supply chain, forecast components, and value chain analysis. The section that follows provides extensive information on market dynamics and a study of how they impact the industry.
By Technology:
Electric power steering (EPS)
Electrically assisted hydraulic power steering (EHPS)
Hydraulic power steering (HPS)
By Component:
Hydraulic Pump
Electric Motor
Steering Column
Steering Wheel Speed Sensor
By Type:
Column-EPS (C-EPS)
Rack-EPS (R-EPS)
Pinion-EPS (P-EPS)
By Off Highway:
Agricultural Tractors
Construction Equipment
By Electric Motor Type:
Brushless
Brushed
By Application:
PCs
LCVs
HCVs
By Electric Vehicle Type:
BEV
PHEV
FCEV
By EPS Mechanism:
Collapsible
Rigid
By Pinion:
Single
Dual
COVID-19 Impact Analysis
The report provides evidence of the impact of the COVID-19 epidemic on the Automotive Steering Systems Market. The COVID-19 pandemic market's potential and continuing consequences are likewise well-documented. The study includes a thorough review of the previous market as well as an assessment of potential opportunities.
Competitive Outlook
This Automotive Steering Systems Market study report includes a comprehensive list of the major market participants as well as in-depth details about each business, including a company profile, revenue shares, a strategy overview, and recent developments. Along with the study methodology used to obtain the various conclusions, the report also includes significant qualitative and quantitative market information.
Report Conclusion
The outcome of a thorough examination is the Automotive Steering Systems Market research report. In line with the study methodology, which also entails secondary research, interviews are done with stakeholders from every link in the value chain. For a wide range of product categories and businesses, market research reports are accessible. With the aid of these comprehensive study investigations, you will be able to understand the primary elements at work in your company.
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