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PUBLISHER: IMARC | PRODUCT CODE: 1308186
PUBLISHER: IMARC | PRODUCT CODE: 1308186
Automotive Steering System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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Market Overview:
The global automotive steering system market size reached US$ 32.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 41.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.8% during 2023-2028.
An automotive steering system comprises a set of components, such as steering wheels, gears, and linkages, which are used to control the direction of a vehicle. It also includes a hydraulic booster that works when the engine is running and provides the necessary force while turning the wheels. It assists in converting the rotatory movement of the steering into an angular turning of the front wheels. Besides this, it minimizes wear and tear of tires, prevents road shocks from reaching the driver and provides stability to the vehicle on the road.
Automotive Steering System Market Trends:
The growing demand for automobiles across the globe represents one of the key factors driving the market. In addition, there is a rise in the adoption of power steering systems in vehicles as they offer better control over the vehicle. This, in turn, is propelling the growth of the market. Moreover, effective steering systems help increase the fuel efficiency of vehicles. As a result, the rising demand for fuel-efficient vehicles worldwide is contributing to the growth of the market. Apart from this, governments of several countries are implementing fleet-level regulations to reduce carbon emissions from vehicles. This, coupled with the escalating demand for electric power steering (EPS) systems to improve the safety and overall driving experience, is stimulating the growth of the market. Additionally, the increasing use of sensors in automotive steering systems is positively influencing the market. Other growth-inducing factors are the expanding automotive industry and the growing advanced driver assistance systems (ADAS) and electronic control units (ECU) in automobiles. Furthermore, key market players are introducing drive-by-wire technology to eliminate any mechanical linkages and reduce the weight of the vehicle, which is projected to strengthen the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive steering system market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, component and vehicle type.
Breakup by Type:
Electric Power Steering (EPS)
Hydraulic Power Steering (HPS)
Electro-Hydraulic Power Steering (EHPS)
Manual Steering
Breakup by Component:
Steering Column
Steering Wheel Speed Sensors
Electric Motors
Hydraulic Pumps
Others
Breakup by Vehicle Type:
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being China Automotive Systems Inc., Denso Corporation, Georgsmarienhutte Holding GmbH, Gss Steering Systems LLC, JTEKT Corporation, Knorr-Bremse AG, Mando Corporation, Mitsubishi Electric Corporation, Nexteer Automotive (Pacific Century Motors), NSK Ltd., Robert Bosch Gmbh, Rollax GmbH & Co. KG and thyssenkrupp AG.
Key Questions Answered in This Report
- 1. What was the size of the global automotive steering system market in 2022?
- 2. What is the expected growth rate of the global automotive steering system market during 2023-2028?
- 3. What are the key factors driving the global automotive steering system market?
- 4. What has been the impact of COVID-19 on the global automotive steering system market?
- 5. What is the breakup of the global automotive steering system market based on the type?
- 6. What is the breakup of the global automotive steering system market based on the vehicle type?
- 7. What are the key regions in the global automotive steering system market?
- 8. Who are the key players/companies in the global automotive steering system market?
Product Code: SR112023A5619
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Automotive Steering System Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Electric Power Steering (EPS)
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Hydraulic Power Steering (HPS)
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Electro-Hydraulic Power Steering (EHPS)
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Manual Steering
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
7 Market Breakup by Component
- 7.1 Steering Column
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Steering Wheel Speed Sensors
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Electric Motors
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Hydraulic Pumps
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Others
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
8 Market Breakup by Vehicle Type
- 8.1 Passenger Cars
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Light Commercial Vehicles
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Heavy Commercial Vehicles
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 China Automotive Systems Inc.
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.2 Denso Corporation
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Georgsmarienhutte Holding GmbH
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 Gss Steering Systems LLC
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.5 JTEKT Corporation
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 Knorr-Bremse AG
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Mando Corporation
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 Mitsubishi Electric Corporation
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.9 Nexteer Automotive (Pacific Century Motors)
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.10 NSK Ltd.
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.11 Robert Bosch Gmbh
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.12 Rollax GmbH & Co. KG
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.12.3 Financials
- 14.3.13 thyssenkrupp AG
- 14.3.13.1 Company Overview
- 14.3.13.2 Product Portfolio
- 14.3.13.3 Financials
- 14.3.13.4 SWOT Analysis
- 14.3.1 China Automotive Systems Inc.
Product Code: SR112023A5619
List of Figures
- Figure 1: Global: Automotive Steering System Market: Major Drivers and Challenges
- Figure 2: Global: Automotive Steering System Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Automotive Steering System Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Automotive Steering System Market: Breakup by Type (in %), 2022
- Figure 5: Global: Automotive Steering System Market: Breakup by Component (in %), 2022
- Figure 6: Global: Automotive Steering System Market: Breakup by Vehicle Type (in %), 2022
- Figure 7: Global: Automotive Steering System Market: Breakup by Region (in %), 2022
- Figure 8: Global: Automotive Steering System (Electric Power Steering) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Automotive Steering System (Electric Power Steering) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Automotive Steering System (Hydraulic Power Steering) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Automotive Steering System (Hydraulic Power Steering) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Automotive Steering System (Electro-Hydraulic Power Steering) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Automotive Steering System (Electro-Hydraulic Power Steering) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Automotive Steering System (Manual Steering) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Automotive Steering System (Manual Steering) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Automotive Steering System (Steering Column) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Automotive Steering System (Steering Column) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Automotive Steering System (Steering Wheel Speed Sensors) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Automotive Steering System (Steering Wheel Speed Sensors) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Automotive Steering System (Electric Motors) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Automotive Steering System (Electric Motors) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Automotive Steering System (Hydraulic Pumps) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Automotive Steering System (Hydraulic Pumps) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Automotive Steering System (Other Components) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Automotive Steering System (Other Components) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Global: Automotive Steering System (Passenger Cars) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Global: Automotive Steering System (Passenger Cars) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: Global: Automotive Steering System (Light Commercial Vehicles) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: Global: Automotive Steering System (Light Commercial Vehicles) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: Global: Automotive Steering System (Heavy Commercial Vehicles) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: Global: Automotive Steering System (Heavy Commercial Vehicles) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: North America: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: North America: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: United States: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: United States: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: Canada: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: Canada: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: Asia-Pacific: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: Asia-Pacific: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: China: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: China: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: Japan: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: Japan: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: India: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: India: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: South Korea: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: South Korea: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: Australia: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: Australia: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Indonesia: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Indonesia: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: Others: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: Others: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: Europe: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: Europe: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: Germany: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: Germany: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: France: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: France: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: United Kingdom: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: United Kingdom: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: Italy: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: Italy: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Spain: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Spain: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Russia: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Russia: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Others: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Others: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Latin America: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Latin America: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Brazil: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Brazil: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 74: Mexico: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 75: Mexico: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 76: Others: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 77: Others: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 78: Middle East and Africa: Automotive Steering System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 79: Middle East and Africa: Automotive Steering System Market: Breakup by Country (in %), 2022
- Figure 80: Middle East and Africa: Automotive Steering System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 81: Global: Automotive Steering System Industry: SWOT Analysis
- Figure 82: Global: Automotive Steering System Industry: Value Chain Analysis
- Figure 83: Global: Automotive Steering System Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Automotive Steering System Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Automotive Steering System Market Forecast: Breakup by Type (in Million US$), 2023-2028
- Table 3: Global: Automotive Steering System Market Forecast: Breakup by Component (in Million US$), 2023-2028
- Table 4: Global: Automotive Steering System Market Forecast: Breakup by Vehicle Type (in Million US$), 2023-2028
- Table 5: Global: Automotive Steering System Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Automotive Steering System Market: Competitive Structure
- Table 7: Global: Automotive Steering System Market: Key Players
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