The automotive steering systems market encompasses products integral to vehicle steering, including hydraulic power steering, electric power steering, and electro-hydraulic power steering. It serves various vehicle types such as passenger cars, light commercial vehicles, and heavy commercial vehicles. Key components include steering wheels, columns, gears/boxes, pumps/motors, electronic control units, and sensors. Sales are categorized into OEM and aftermarket segments. Technological advancements, particularly the integration of Advanced Driver Assistance Systems (ADAS), are influencing market dynamics. Regionally, the market spans North and South America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, driven by the demand for enhanced vehicle control, safety features, and driving comfort.
Some of the prominent players highlighted in the study include JTEKT Corporation (Japan), Nexteer Automotive Group Ltd. (United States), Showa Corp. (Japan), ThyssenKrupp AG (Germany), Hitachi Automotive Systems Ltd. (Japan), Robert Bosch GmbH (Germany), NSK Steering Systems Co. Ltd. (Japan), Mando Corp. (South Korea), ZF Friedrichshafen AG (Germany), Others.
Automotive Steering Systems Market Size is Valued at USD 36.94 Billion in 2023, and is Projected to Reach USD 44.31 Billion by 2032, Growing at a CAGR of 2.30% From 2024-2032.
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The Asia Pacific automotive steering systems market is highly growing with increasing vehicle production and increasing technology in the steering systems field. Ranking countries like China, Japan, India, South Korea amongst others, the Asian region plays a huge role in the Automotive industry internationally.
Segmentation Analysis of the Automotive Steering Systems Market:
By Type
· Hydraulic Power Steering (HPS)
· Electric Power Steering (EPS)
· Electro-hydraulic Power Steering (EHPS)
· Manual Steering
By Vehicle Type
· Passenger Cars
· Light Commercial Vehicles (LCVs)
· Heavy Commercial Vehicles (HCVs)
By Technology
· Conventional Steering System
· Advanced Driver Assistance System (ADAS) Integrated Steering System
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Automotive Steering Systems Market Trend Analysis:
· The Road Ahead, Innovations in Automotive Steering Systems
· Future of Mobility, Opportunities in the Automotive Steering Systems Market
Geographically, the distinctive analysis of consumption, revenue, market share, and growth rate of the subsequent areas:
· North America (U.S., Canada, Mexico)
· Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
· Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
· Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
· South America (Brazil, Argentina, Rest of SA)
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Comprehensive Offerings:
· Historical Market Size and Competitive Analysis (2017–2023)
· Historical Pricing Trends and Regional Price Curve (2017–2023)
· Automotive Steering Systems Market Size, Share, and Forecast by Segment (2024–2032)
· Automotive Steering Systems Market Dynamics
· Automotive Steering Systems Market Trend Analysis
· Import and Export Analysis
· Automotive Steering Systems Market Segmentation
· Competitive Landscape
· PESTLE Analysis
· PORTER’s Five Forces Analysis
· Industry Value Chain Analysis
· Legal and Regulatory Environment by Region
· Strategic Opportunities and SWOT Analysis
· Conclusion and Strategic Recommendations
Why Invest in this Report?
-Leverage Data for Strategic Decision-Making
-Craft Expansion Strategies for Diverse Markets
-Conduct Comprehensive Competitor Analysis
-Gain Insight into Competitors' Financial Metrics
-Benchmark Against Key Competitors
-Formulate Region-Specific Growth Strategies
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Points Covered in Table of Content of Automotive Steering Systems Market:
Chapter 01 - Introduction
Chapter 02 - Executive Summary
Chapter 03 - Automotive Steering Systems Market Landscape
Chapter 04 - Automotive Steering Systems Market by Segment (xx, xx, xx) (2017-2032)
Chapter 05 - Company Profiles and Competitive Analysis
Chapter 06 - Global Automotive Steering Systems Market by Region
Chapter 07 - Analyst Viewpoint and Conclusion
Chapter 08 - Our Thematic Research Methodology
Chapter 09 - Case Study
Chapter 10 - Appendix
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