Automotive Steering System Market
Automotive Steering System Market Analysis, By Type (Hydraulic Powered Automotive Steering System, Electrically Powered Automotive Steering System), By Vehicle Type (Automotive Steering Systems for Passenger Vehicles - Global Survey 2021 to 2031
Analysis of Automotive Steering System Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Automotive Steering System Market Outlook
Automotive steering system market is expected to grow with a CAGR of 4%, as the consumers prefer to choose driving comfort.
The automotive steering system market to reach nearly US$ 23 Billion in 2020. Redesigning automotive steering systems for easy usage is driving the market growth.
In addition, attaining fuel efficiency plays a major role in accelerating the uptake of automotive steering systems. Thus, the market is expected to surpass a CAGR of 4% in the 2021-2031 assessment period, reaching nearly US$ 34 Billion.
| Market Analysis | Values |
|---|---|
| Global Market CAGR (2021 to 2031) | 4% |
| US Market Estimated Revenue | US$ 5 Million |
| Electrically Powered Steering Systems Market CAGR 2031 | 5% |
| Heavy Commercial Vehicles (HCV) Segment Market Share | 40% |
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Automotive Steering System Historical Trends 2016 to 2020 in Comparison to Future Outlook 2021 to 2031
As per Fact.MR’s report, between 2016 and 2020, the automotive steering system market expanded at nearly 4%, closing in at a value of nearly US$ 23 Bn in 2020.
Manufacturers of automotive steering systems are focusing on developing vehicles that provide comfort. Furthermore, stringent rules and regulations by governments are driving the sales growth of automotive steering systems.
Thus, in the forecast period, the automotive steering system industry is expected to surpass a CAGR of 4% to reach a higher valuation across the 2021-2031 forecast period.
Emphasis on Flexibility to Boost Automotive Steering Systems Demand?
Automotive steering system is a collection of components that includes steering column, steering wheel, front wheel, brakes, and clutches. This enables the driver to effortlessly direct the motion of the vehicle on the desired path.
Current automotive systems have been redesigned to provide efficient and easy driving. Thus, these systems have replaced earlier rigid automotive steering systems and possess incredible flexibility that offers automatic assistance.
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How is Autonomous Driving Shaping Demand for Automotive Steering Systems?
Highly automated level 4 and 5 vehicles are shaping the future of the automotive steering system market.
Prominent automotive manufacturers are looking to leverage autonomous driving systems to provide a seamless experience to automobile users. Following the CES 2018, General Motors presumptuously declared that the company would eliminate the automotive steering system from its autonomous vehicle designs by 2019.
With the launch of the Level 5 Chevy Bolt, GM is all set to venture into autonomous vehicles that would function without an automotive steering system and pedals. The company claims that this will be the first-ever production car sans driver control.
Similarly, Ford Motors has already patented a completely detachable automotive steering system and pedals, which has been planned to be available as a customer-requested automotive component option.
Although GM and Ford plan the aforementioned features for highly automated level 4 and 5 vehicles, it is imperative to address several structural, functional, and system related challenges during realistic on-road testing, before the mass production roll-out. This is believed to be highly influential in shaping the future of automotive steering system market.
OEMs Ought to Focus on Cybersecurity of Automotive EPS Systems?
EPS cybersecurity-focused innovations are likely to open new avenues for OEMs active in the automotive steering systems market over the forecast period.
With the dramatic evolution of the connected, autonomous, and semi-autonomous vehicle ecosystem, leading automakers ought to prioritize the safety and security concerns associated with automotive steering systems – especially electric power steering systems (EPS).
Industry experts predict that the next few years will observe soaring demand for EPS in all classes of vehicles, including state-of-the-art technology-based vehicles such as autonomous and connected cars.
Innovations centred on cybersecurity of EPS are likely to open new doors of opportunities for OEMs active in the automotive steering system market in the forecast period.
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Electric Powered Automotive Steering Systems Taking over Hydraulics?
The quest for reduced complexity and costs is prompting OEMs to switch from hydraulic automotive steering systems to electric automotive steering systems. Manufacturers are increasingly inclined towards achieving higher drivetrain efficiency, preferring electric automotive steering systems over hydraulic ones.
Although hydraulics have been considered ideal for amplified steering efforts for parking and manoeuvring vehicles through heavy traffic, they tend to undermine both engine power and fuel economy.
Electric automotive steering systems thus help achieve high fuel efficiency, and reduced vehicle weight and costs - offering assistance at lower as well as higher vehicle speeds and in all driving modes, including sports. Furthermore, electric powered automotive steering system can potentially work in tandem with automotive radar, LIDAR in futuristic cars.
Country-wise Analysis
What Growth Prospects Abound across the U.S Market?
The demand for passenger cars and light commercial vehicles in the U.S increased. Prominent automotive giants are thus leveraging advanced driving systems to enhance the comfort factor across prominent automobiles. Introduction of autonomous driving systems has further spurred demand.
As per Fact.MR’s industry analysis, the automotive steering systems demand is expected is expected to register a CAGR around 4%, with revenue estimated to surpass US$ 5 Million.
Why are East and South Asia Attracting Automotive Steering Systems Manufacturers?
Enforcement of stringent regulations for reducing carbon emissions is prompting automotive manufacturers across countries such as China and India to introduce efficient automobiles. Hence, demand for automotive steering systems is heightening.
Companies such as Hitachi Automotive systems, Hyundai Mobis and Infineon Technologies in China, JTEKT Corporation and NSK steering systems and Hitachi Astemo, Bawai Plant and Bosch Huayu are driving the growth of the automotive steering systems industry in the region. Both regions are poised to account for over 3/5th of overall global demand.
Category-wise Insights
Why are Electrically Powered Steering Systems Acquiring Traction?
The electrically powered steering system (EPS) is expected to be highly popular, as it is not attached to a steering rack or column. Thus, the EPS system reduces emissions and is an economic option. These qualities of the EPS system are making it favourable for use. Fact.MR expects sales of electric power steering systems to expand at a CAGR of over 5% until 2031.
In addition, it also provides assistance for road speed and vehicle type. Not only does the EPS system reduce emissions but it also reduces environmental hazards as there are no chances of leakages. All these factors are driving the sales of the electric power steering systems.
Why are HCV Manufacturers Seeking Automotive Steering Systems?
Revenue Share Worth 40% is Projected for Automotive Steering Systems for Heavy Commercial Vehicles (HCV) segment over the forecast period.
Heavy commercial vehicle (HCV) manufacturers are leveraging hydraulic and electro-hydraulic automotive steering systems for reduced steering control force and enhanced fuel efficiency. A revenue share worth 40% is projected for this segment.
Several advanced technology automotive steering system designs also integrate features such as an electronic stability program and anti-lock braking system. Moreover, manufacturers of the automotive steering systems are also investing their R&D efforts in innovations regarding advanced technology driver assistance and power consumption.
Competitive Landscape
Key players in the automotive steering system are focusing on providing comfort and safety to people. Also, companies are constantly integrating latest technological advancements that would reduce the chances of vehicle failures.
- For instance, in July 2021, Hyundai Mobis has developed world’s first brainwaves based on the ADAS technology. With the help of this technology, the brainwaves can measure the drives state and alert to avoid accidents.
Report Scope
| Report Attributes | Details |
|---|---|
| Forecast Period | 2021 to 2031 |
| Historical Data Available for | 2016 to 2020 |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East & Africa |
| Key Market Segments Covered | Type, Vehicle Type, Distribution Channel, Region |
| Key Companies Profiled | Nexteer Automotive Group Limited; JTEKT Corporation; ThyssenKrupp AG; NSK Ltd.; Mitsubishi Electric Corporation; China Automotive Systems Inc.; Sona Koyo Steering Systems Limited; Robert Bosch Limited |
Key Segments Covered
-
Type:
- Hydraulic Powered
- Electrically Powered
-
Vehicle Type:
- Passenger Vehicles
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
-
Sales Channel:
- OEMs
- Aftermarkets
Table of Content
- 1. Global Market to Executive Summary
- 2. Global Market Overview
- 3. Global Market Analysis and Forecast By Product Type
- 3.1. Electrically Powered Steering (EPS)
- 3.2. Manual
- 3.3. Hydraulic Power Steering (HPS)
- 3.4. Electro-Hydraulic Power Steering (E HPS)
- 4. Global Market Analysis and Forecast By Vehicle Type
- 4.1. Passenger Car
- 4.2. LCV
- 4.3. HCV
- 5. Global Market Analysis and Forecast By Sales Channel
- 5.1. OEM
- 5.2. Aftermarket
- 6. Global Market Analysis and Forecast By Region
- 6.1. North America
- 6.2. Latin America
- 6.3. Europe
- 6.4. Japan
- 6.5. APEJ
- 6.6. MEA
- 7. North America Market Analysis and Forecast, By Country (2016 to 2031)
- 8. Latin America Market Analysis and Forecast, By Country (2016 to 2031)
- 9. Europe Market Analysis and Forecast, By Country (2016 to 2031)
- 10. Japan Market Analysis and Forecast, By Country (2016 to 2031)
- 11. APEJ Market Analysis and Forecast, By Country (2016 to 2031)
- 12. MEA Market Analysis and Forecast, By Country (2016 to 2031)
- 13. Global Market Company/Manufactures/Distributors/Suppliers Profile and Revenue Projections
- 13.1. JTEKT Corporation
- 13.2. ZF Friedrichshafen AG
- 13.3. ThyssenKrupp AG
- 13.4. NSK Ltd.
- 13.5. Nexteer Automotive Group Limited
- 13.6. Mitsubishi Electric Corporation
- 13.7. Hyundai Mobis Co. Ltd.
- 13.8. China Automotive Systems, Inc.
- 13.9. Sona Koyo Steering Systems Limited
- 13.10. Robert Bosch Limited
- 14. Disclaimer and Contact Information
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List Of Table
TABLE 01: Global Market Value (US$ Mn), 2016 to 2020
TABLE 02: Global Market Value (US$ Mn), 2021 to 2031
TABLE 03: Global Market Value (US$ Mn) and Y-o-Y, 2020 to 2031
TABLE 04: Global Electrically Powered Steering ( EPS) Segment Value (US$ Mn), By Region 2016 to 2020
TABLE 05: Global Electrically Powered Steering ( EPS) Segment Value (US$ Mn), By Region 2021 to 2031
TABLE 06: Global Electrically Powered Steering ( EPS) Segment Market Share, By Region 2016 to 2020
TABLE 07: Global Electrically Powered Steering ( EPS) Segment Market Share, By Region 2021 to 2031
TABLE 08: Global Electrically Powered Steering ( EPS) Segment Y-o-Y, By Region 2020 to 2031
TABLE 09: Global Manual Segment Value (US$ Mn), By Region 2016 to 2020
TABLE 10: Global Manual Segment Value (US$ Mn), By Region 2021 to 2031
TABLE 11: Global Manual Segment Market Share, By Region 2016 to 2020
TABLE 12: Global Manual Segment Market Share, By Region 2021 to 2031
TABLE 13: Global Manual Segment Y-o-Y, By Region 2020 to 2031
TABLE 14: Global Hydraulic Power Steering ( HPS) Segment Value (US$ Mn), By Region 2016 to 2020
TABLE 15: Global Hydraulic Power Steering ( HPS) Segment Value (US$ Mn), By Region 2021 to 2031
TABLE 16: Global Hydraulic Power Steering ( HPS) Segment Market Share, By Region 2016 to 2020
TABLE 17: Global Hydraulic Power Steering ( HPS) Segment Market Share, By Region 2021 to 2031
TABLE 18: Global Hydraulic Power Steering ( HPS) Segment Y-o-Y, By Region 2020 to 2031
TABLE 19: Global Electro-Hydraulic Power Steering (E HPS) Segment Value (US$ Mn), By Region 2016 to 2020
TABLE 20: Global Electro-Hydraulic Power Steering (E HPS) Segment Value (US$ Mn), By Region 2021 to 2031
TABLE 21: Global Electro-Hydraulic Power Steering (E HPS) Segment Market Share, By Region 2016 to 2020
TABLE 22: Global Electro-Hydraulic Power Steering (E HPS) Segment Market Share, By Region 2021 to 2031
TABLE 23: Global Electro-Hydraulic Power Steering (E HPS) Segment Y-o-Y, By Region 2020 to 2031
TABLE 24: Global Passenger car Segment Value (US$ Mn), By Region 2016 to 2020
TABLE 25: Global Passenger car Segment Value (US$ Mn), By Region 2021 to 2031
TABLE 26: Global Passenger car Segment Market Share, By Region 2016 to 2020
TABLE 27: Global Passenger car Segment Market Share, By Region 2021 to 2031
TABLE 28: Global Passenger car Segment Y-o-Y, By Region 2020 to 2031
TABLE 29: Global LCV Segment Value (US$ Mn), By Region 2016 to 2020
TABLE 30: Global LCV Segment Value (US$ Mn), By Region 2021 to 2031
TABLE 31: Global LCV Segment Market Share, By Region 2016 to 2020
TABLE 32: Global LCV Segment Market Share, By Region 2021 to 2031
TABLE 33: Global LCV Segment Y-o-Y, By Region 2020 to 2031
TABLE 34: Global HCV Segment Value (US$ Mn), By Region 2016 to 2020
TABLE 35: Global HCV Segment Value (US$ Mn), By Region 2021 to 2031
TABLE 36: Global HCV Segment Market Share, By Region 2016 to 2020
TABLE 37: Global HCV Segment Market Share, By Region 2021 to 2031
TABLE 38: Global HCV Segment Y-o-Y, By Region 2020 to 2031
TABLE 39: Global OEM Segment Value (US$ Mn), By Region 2016 to 2020
TABLE 40: Global OEM Segment Value (US$ Mn), By Region 2021 to 2031
TABLE 41: Global OEM Segment Market Share, By Region 2016 to 2020
TABLE 42: Global OEM Segment Market Share, By Region 2021 to 2031
TABLE 43: Global OEM Segment Y-o-Y, By Region 2020 to 2031
TABLE 44: Global Aftermarket Segment Value (US$ Mn), By Region 2016 to 2020
TABLE 45: Global Aftermarket Segment Value (US$ Mn), By Region 2021 to 2031
TABLE 46: Global Aftermarket Segment Market Share, By Region 2016 to 2020
TABLE 47: Global Aftermarket Segment Market Share, By Region 2021 to 2031
TABLE 48: Global Aftermarket Segment Y-o-Y, By Region 2020 to 2031
TABLE 49: North America Market Value (US$ Mn), By Product Type 2016 to 2020
TABLE 50: North America Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 51: North America Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 52: North America Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 53: North America Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 54: North America Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 55: Latin America Market Value (US$ Mn), By Product Type 2016 to 2020
TABLE 56: Latin America Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 57: Latin America Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 58: Latin America Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 59: Latin America Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 60: Latin America Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 61: Europe Market Value (US$ Mn), By Product Type 2016 to 2020
TABLE 62: Europe Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 63: Europe Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 64: Europe Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 65: Europe Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 66: Europe Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 67: Japan Market Value (US$ Mn), By Product Type 2016 to 2020
TABLE 68: Japan Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 69: Japan Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 70: Japan Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 71: Japan Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 72: Japan Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 73: APEJ Market Value (US$ Mn), By Product Type 2016 to 2020
TABLE 74: APEJ Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 75: APEJ Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 76: APEJ Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 77: APEJ Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 78: APEJ Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 79: MEA Market Value (US$ Mn), By Product Type 2016 to 2020
TABLE 80: MEA Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 81: MEA Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 82: MEA Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 83: MEA Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 84: MEA Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 85: US Market Value (US$ Mn), By Product Type 2016 to 2020
TABLE 86: US Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 87: US Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 88: US Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 89: US Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 90: US Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 91: Canada Market Value (US$ Mn), By Product Type 2016 to 2020
TABLE 92: Canada Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 93: Canada Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 94: Canada Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 95: Canada Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 96: Canada Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 97: Brazil Market Value (US$ Mn), By Product Type 2016 to 2020
TABLE 98: Brazil Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 99: Brazil Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 100: Brazil Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 101: Brazil Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 102: Brazil Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 103: Mexico Market Value (US$ Mn), By Product Type 2016 to 2020
TABLE 104: Mexico Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 105: Mexico Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 106: Mexico Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 107: Mexico Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 108: Mexico Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 109: Argentina Market Value (US$ Mn), By Product Type 2016 to 2020
TABLE 110: Argentina Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 111: Argentina Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 112: Agentina Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 113: Argentina Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 114: Argentina Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 115: Germany Market Value (US$ Mn), By Product Type 2016 to 2020
TABLE 116: Germany Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 117: Germany Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 118: Germany Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 119: Germany Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 120: Germany Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 121: System Market Value (US$ Mn), By Product Type 2016 to 2020 Manual
TABLE 122: UK Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 123: UK Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 124: UK Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 125: UK Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 126: UK Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 127: France Market Value (US$ Mn), By Product Type 2016 to 2020
TABLE 128: France Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 129: France Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 130: France Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 131: France Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 132: France Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 133: System Market Value (US$ Mn), By Product Type 2016 to 2020 Manual
TABLE 134: Spain Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 135: Spain Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 136: Spain Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 137: Spain Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 138: Spain Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 139: System Market Value (US$ Mn), By Product Type 2016 to 2020 Manual
TABLE 140: Italy Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 141: Italy Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 142: Italy Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 143: Italy Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 144: Italy Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 145: System Market Value (US$ Mn), By Product Type 2016 to 2020 Manual
TABLE 146: Nordic Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 147: Nordic Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 148: Nordic Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 149: Nordic Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 150: Nordic Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 151: System Market Value (US$ Mn), By Product Type 2016 to 2020 Manual
TABLE 152: Japan Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 153: Japan Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 154: Japan Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 155: Japan Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 156: Japan Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 157: System Market Value (US$ Mn), By Product Type 2016 to 2020 Manual
TABLE 158: China Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 159: China Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 160: China Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 161: China Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 162: China Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 163: System Market Value (US$ Mn), By Product Type 2016 to 2020 Manual
TABLE 164: India Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 165: India Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 166: India Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 167: India Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 168: India Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 169: System Market Value (US$ Mn), By Product Type 2016 to 2020 Manual
TABLE 170: Malaysia Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 171: Malaysia Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 172: Malaysia Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 173: Malaysia Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 174: Malaysia Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 175: System Market Value (US$ Mn), By Product Type 2016 to 2020 Manual
TABLE 176: Thailand Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 177: Thailand Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 178: Thailand Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 179: Thailand Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 180: Thailand Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 181: System Market Value (US$ Mn), By Product Type 2016 to 2020 Manual
TABLE 182: Singapore Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 183: Singapore Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 184: Singapore Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 185: Singapore Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 186: Singapore Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 187: System Market Value (US$ Mn), By Product Type 2016 to 2020 Manual
TABLE 188: Australia Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 189: Australia Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 190: Australia Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 191: Australia Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 192: Australia Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 193: GCC Countries Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 194: GCC Countries Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 195: GCC Countries Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 196: GCC Countries Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 197: GCC Countries Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 198: South Africa Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 199: South Africa Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 200: South Africa Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 201: South Africa Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 202: South Africa Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 203: System Market Value (US$ Mn), By Product Type 2016 to 2020 Manual
TABLE 204: Nigeria Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 205: Nigeria Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 206: Nigeria Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 207: Nigeria Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 208: Nigeria Market Value (US$ Mn), By Sales Channel 2021 to 2031
TABLE 209: System Market Value (US$ Mn), By Product Type 2016 to 2020 Manual
TABLE 210: Israel Market Value (US$ Mn), By Product Type 2021 to 2031
TABLE 211: Israel Market Value (US$ Mn), By Vehicle Type 2016 to 2020
TABLE 212: Israel Market Value (US$ Mn), By Vehicle Type 2021 to 2031
TABLE 213: Israel Market Value (US$ Mn), By Sales Channel 2016 to 2020
TABLE 214: Israel Market Value (US$ Mn), By Sales Channel 2021 to 2031
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List Of Figures
FIG. 01: Global Market Value (US$ Mn), 2016 to 2020
FIG. 02: Global Market Value (US$ Mn) Forecast, 2021 to 2031
FIG. 03: Global Market Value (US$ Mn) and Y-o-Y, 2020 to 2031
FIG. 04: Global Electrically Powered Steering ( EPS) Segment Market Value (US$ Mn) By Region, 2016 to 2020
FIG. 05: Global Electrically Powered Steering ( EPS) Segment Market Value (US$ Mn) By Region, 2021 to 2031
FIG. 06: Global Electrically Powered Steering ( EPS) Segment Y-o-Y Growth Rate, By Region, 2020 to 2031
FIG. 07: Global Manual Segment Market Value (US$ Mn) By Region, 2016 to 2020
FIG. 08: Global Manual Segment Market Value (US$ Mn) By Region, 2021 to 2031
FIG. 09: Global Manual Segment Y-o-Y Growth Rate, By Region, 2020 to 2031
FIG. 10: Global Hydraulic Power Steering ( HPS) Segment Market Value (US$ Mn) By Region, 2016 to 2020
FIG. 11: Global Hydraulic Power Steering ( HPS) Segment Market Value (US$ Mn) By Region, 2021 to 2031
FIG. 12: Global Hydraulic Power Steering ( HPS) Segment Y-o-Y Growth Rate, By Region, 2020 to 2031
FIG. 13: Global Electro-Hydraulic Power Steering (E HPS) Segment Market Value (US$ Mn) By Region, 2016 to 2020
FIG. 14: Global Electro-Hydraulic Power Steering (E HPS) Segment Market Value (US$ Mn) By Region, 2021 to 2031
FIG. 15: Global Electro-Hydraulic Power Steering (E HPS) Segment Y-o-Y Growth Rate, By Region, 2020 to 2031
FIG. 16: Global Passenger car Segment Market Value (US$ Mn) By Region, 2016 to 2020
FIG. 17: Global Passenger car Segment Market Value (US$ Mn) By Region, 2021 to 2031
FIG. 18: Global Passenger car Segment Y-o-Y Growth Rate, By Region, 2020 to 2031
FIG. 19: Global LCV Segment Market Value (US$ Mn) By Region, 2016 to 2020
FIG. 20: Global LCV Segment Market Value (US$ Mn) By Region, 2021 to 2031
FIG. 21: Global LCV Segment Y-o-Y Growth Rate, By Region, 2020 to 2031
FIG. 22: Global HCV Segment Market Value (US$ Mn) By Region, 2016 to 2020
FIG. 23: Global HCV Segment Market Value (US$ Mn) By Region, 2021 to 2031
FIG. 24: Global HCV Segment Y-o-Y Growth Rate, By Region, 2020 to 2031
FIG. 25: Global OEM Segment Market Value (US$ Mn) By Region, 2016 to 2020
FIG. 26: Global OEM Segment Market Value (US$ Mn) By Region, 2021 to 2031
FIG. 27: Global OEM Segment Y-o-Y Growth Rate, By Region, 2020 to 2031
FIG. 28: Global Aftermarket Segment Market Value (US$ Mn) By Region, 2016 to 2020
FIG. 29: Global Aftermarket Segment Market Value (US$ Mn) By Region, 2021 to 2031
FIG. 30: Global Aftermarket Segment Y-o-Y Growth Rate, By Region, 2020 to 2031
FIG. 31: North America Market Value (US$ Mn), By Product Type 2016 to 2020
FIG. 32: North America Market Value (US$ Mn), By Product Type 2021 to 2031
FIG. 33: North America Market Value (US$ Mn), By Vehicle Type 2016 to 2020
FIG. 34: North America Market Value (US$ Mn), By Vehicle Type 2021 to 2031
FIG. 35: North America Market Value (US$ Mn), By Sales Channel 2016 to 2020
FIG. 36: North America Market Value (US$ Mn), By Sales Channel 2021 to 2031
FIG. 37: Latin America Market Value (US$ Mn), By Product Type 2016 to 2020
FIG. 38: Latin America Market Value (US$ Mn), By Product Type 2021 to 2031
FIG. 39: Latin America Market Value (US$ Mn), By Vehicle Type 2016 to 2020
FIG. 40: Latin America Market Value (US$ Mn), By Vehicle Type 2021 to 2031
FIG. 41: Latin America Market Value (US$ Mn), By Sales Channel 2016 to 2020
FIG. 42: Latin America Market Value (US$ Mn), By Sales Channel 2021 to 2031
FIG. 43: Europe Market Value (US$ Mn), By Product Type 2016 to 2020
FIG. 44: Europe Market Value (US$ Mn), By Product Type 2021 to 2031
FIG. 45: Europe Market Value (US$ Mn), By Vehicle Type 2016 to 2020
FIG. 46: Europe Market Value (US$ Mn), By Vehicle Type 2021 to 2031
FIG. 47: Europe Market Value (US$ Mn), By Sales Channel 2016 to 2020
FIG. 48: Europe Market Value (US$ Mn), By Sales Channel 2021 to 2031
FIG. 49: Japan Market Value (US$ Mn), By Product Type 2016 to 2020
FIG. 50: Japan Market Value (US$ Mn), By Product Type 2021 to 2031
FIG. 51: Japan Market Value (US$ Mn), By Vehicle Type 2016 to 2020
FIG. 52: Japan Market Value (US$ Mn), By Vehicle Type 2021 to 2031
FIG. 53: Japan Market Value (US$ Mn), By Sales Channel 2016 to 2020
FIG. 54: Japan Market Value (US$ Mn), By Sales Channel 2021 to 2031
FIG. 55: APEJ Market Value (US$ Mn), By Product Type 2016 to 2020
FIG. 56: APEJ Market Value (US$ Mn), By Product Type 2021 to 2031
FIG. 57: APEJ Market Value (US$ Mn), By Vehicle Type 2016 to 2020
FIG. 58: APEJ Market Value (US$ Mn), By Vehicle Type 2021 to 2031
FIG. 59: APEJ Market Value (US$ Mn), By Sales Channel 2016 to 2020
FIG. 60: APEJ Market Value (US$ Mn), By Sales Channel 2021 to 2031
FIG. 61: MEA Market Value (US$ Mn), By Product Type 2016 to 2020
FIG. 62: MEA Market Value (US$ Mn), By Product Type 2021 to 2031
FIG. 63: MEA Market Value (US$ Mn), By Vehicle Type 2016 to 2020
FIG. 64: MEA Market Value (US$ Mn), By Vehicle Type 2021 to 2031
FIG. 65: MEA Market Value (US$ Mn), By Sales Channel 2016 to 2020
FIG. 66: MEA Market Value (US$ Mn), By Sales Channel 2021 to 2031
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- FAQs -
How much is the automotive steering systems industry worth?
As of 2020, the market for automotive steering systems reached nearly US$ 23 Bn
At what rate will the automotive steering system industry grow from 2021-2031?
The automotive steering system is expected to surpass a CAGR of 4% from 2021-2031.
How much is the automotive steering system market like to be valued by 2031?
The automotive steering system market is expected to reach nearly US$ 34 Bn by 2031
What are the key trends driving automotive steering system sales?
Driving flexibility, advanced electric power and constant redesigning of the systems are the key trends driving automotive steering system sales.
Which are the most lucrative regions for automotive steering system sales?
East Asia and South Asia will collectively generate over 60% revenue until 2031
Who are the prominent automotive steering system market players?
Nexteer Automotive Group Limited, JTEKT Corporation, ThyssenKrupp AG, NSK Ltd., Mitsubishi Electric Corporation, China Automotive Systems Inc., Sona Koyo Steering Systems Limited and Robert Bosch Limited are some prominent manufacturers
Which countries are driving demand for automotive steering systems?
China, Japan and India are the top three countries driving demand for automotive steering system
Which type of automotive steering system is expected to hold the highest share for sales?
The electronic steering system type is expected to hold the highest share for sales, expanding at over 5% CAGR
How much is the U.S automotive steering systems industry worth?
The automotive steering system industry is expected to register a CAGR around 4% throughout North America
Which vehicle type will account for bulk of automotive steering system demand?
Heavy Commercial Vehicles (HCV) are expected to capture almost 40% revenue share until 2031
Automotive Steering System Market