Automotive Steering Systems Market - Global Industry Analysis

Automotive Steering Systems Market by Product (Electronic Power Steering Systems, Hydraulic Power Steering Systems (HPS), and Electro-Hydraulic Power Steering Systems (HPS)); by Application (Passenger Vehicle and Commercial Vehicle) -Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017– 2026

Published Date: 15-Jun-2018 Category: Automotive Report Format : PDF Pages: 110 Report Code: ZMR-3078 Status : Published

Global automotive steering systems market expected to reach USD 49,200 million by 2026 and is expected to grow at a CAGR of more than 4% between 2018 and 2026. The key factors that are expected to trigger the growth of the automotive steering systems include increasing demand for fuel-efficient vehicles and technological advancement in the automotive industry.

Description

Global Automotive Steering Systems Market Report Brief

  • The report covers forecast and analysis for the automotive steering systems on a global and regional level.
  • The report includes the positive and the negative factors that are influencing the growth of the market.
  • Market opportunities are discussed in detail.
  • The key target audience for the market has been determined in the report.
  • The revenue generated by the prominent industry players has been analyzed in the report.
  • The market numbers have been calculated using top-down and the bottom-up approaches.
  • The automotive steering systems have been analyzed using Porter’s Five Forces Analysis.
  • The market is segmented on the basis of product and application, which in turn are bifurcated on regional and country level as well.
  • All the segments have been evaluated based on the present and the future trends.
  • The report deals with the in-depth quantitative and qualitative analyses of the automotive steering systems.
  • The report includes the detailed company profiles of the prominent market players.
  • The industry development for the automotive steering systems is covered in the report.

Automotive Steering Systems Market Overview

The steering system of a vehicle allows the driver to control the direction of the vehicle through a system of linkages and gears that connects the steering wheel with the front wheels.

Traditional vehicles used manual racks, manual steering linkage system, and manual steering boxes. Moreover, the advancements in the steering system such as hydraulic fluid systems to improve the steering performance, electronically controlled steering systems for greater and smoother performance and maneuverability has increased the demand for the automotive steering system.

Value

The global automotive steering systems market was valued at around USD 34,300 million in the year 2017 and it is expected to reach approximately USD 49,200 million by 2026. The global automotive steering systems market is expected to grow at a CAGR of over 4% between 2018 and 2026.

Drivers and Restraints

The rising vehicle production, growing demand for easy vehicle maneuverability, and growing economies of developing countries are the key factors contributing towards the growth of the global automotive steering system market over the forecast period. 

Moreover, increasing demand for fuel-efficient vehicles is expected to significantly boost the growth of the automotive steering systems market in the coming years. The electric power steering (EPS) system consumes low fuel as compared to a traditional system or manual steering systems. The continuous increase in the price of fuel at global level increases demand for fuel-efficient vehicles, and this is expected to propel the growth of automotive steering systems market globally. However, high cost for the development of automotive steering systems as it requires high R&D and maintenance cost may restrain the market growth

Global Automotive Steering Systems Market

Automotive Steering Systems Market Segmentation

Automotive Steering Systems Market is expected to register the highest CAGR of around 6% over the forecast period. The electro-hydraulic power system combines both electronic power steering system and hydraulic power steering system. The combination of two technologies provides a simple, electric motor that drives with direct concentric coupling an oil-gear pump, and also it is energy efficient. The increasing demand for technological advancements in steering systems is expected to propel the growth of the segment in the forecast period.

The passenger vehicle is expected to register high CAGR of more than 4% from 2018 to 2026 in the global automotive steering systems market by application. The increasing demand for passenger’s vehicle from China, Japan, India, and Brazil owing to increasing purchasing power of consumers and economic growth is expected to propel the growth of passenger’s vehicle segment in the global market over the forecast period.
    
Europe accounted for the highest share in the global automotive steering systems in the year 2017 with the share of more than 40%. Europe is the largest hub for automotive manufacturing activities and hence it accounted for the highest share in the automotive steering system market globally. The Asia Pacific is expected to register a high CAGR of around 4.5% from 2018 to 2026 in the global automotive steering system market. The growing adoption of technically advanced products, low cost for labor and raw material, increasing disposable income, and urbanization are the major factors contributing towards the high growth of Asia Pacific automotive steering systems market in the coming years.

Industry Players

The report includes detailed profiles of the prominent market players that are trending in the market. The list of the players that are compiled in the report are Bosch Limited, Nexteer Automotive, Robert Bosch Automotive Steering GmbH, SHOWA Corporation, Sona Koyo Steering Systems Ltd., ThyssenKrupp Business Area Components Technology, China Automotive Systems, Inc., Hyundai Mobis, JTEKT Corporation, ZF Friedrichshafen AG, Yubei Steering Systems Co., Ltd., Zhejiang Wanda Steering Gear Co., Ltd., and Mitsubishi Electric Corporation, among others. 

The increasing new product launch, growing strategic geographical expansion such as developing newer manufacturing plants for the development of automotive steering, and increasing partnership among the key players of the automotive steering systems, is significantly contributing towards the growth of the market globally.

For instance, in February 2018, Nexteer Automotive opened a new production facility in Kenitra, Morocco. Initially, the company is going to use the facility for manufacturing Single Pinion-assist Electric Power Steering (SPEPS) systems and later they will extend manufacturing to driveline products in the future. Moreover, in July 2017 Nexteer Automotive opened a new manufacturing plant in Bekasi, West Java in Indonesia. As a wholly-owned subsidiary of Nexteer, the Indonesia plant mainly manufactures brush column-assist electric power steering (CEPS).

In April 2017, Robert Bosch, one of the prominent automobile producer collaborated with Chinese internet giant Baidu Inc. and domestic mapping firms AutoNavi and NavInfo Co. Ltd. The main aim of the collaboration was to focus on automated projects.

In November 2017, the Zhejiang Wanda Steering Gear Co., Ltd. conducted a trial of new product namely RF10 steering column, which is a four-directional adjustable steering column.

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global Automotive Steering Systems, 2016 - 2026 (USD Million)
    • 2.2. Global Automotive Steering Systems : Snapshot
  •  
  • Chapter 3. Automotive Steering Systems - Market Dynamics
    • 3.1. Introduction
    • 3.2. Market drivers
      • 3.2.1. Global Automotive Steering Systems drivers: Impact analysis
      • 3.2.2. Increasing Demand for Fuel-efficient Vehicles
      • 3.2.3. Technological Advancement
    • 3.3. Market Restraints
      • 3.3.1. Global Automotive Steering Systems restraints: Impact analysis
      • 3.3.2. High cost for development
    • 3.4. Opportunities
      • 3.4.1. Increasing Modernization in Automotive Industry
    • 3.5. Trend
      • 3.5.1. Rising Vehicle Production
    • 3.6. Porter's five forces analysis
      • 3.6.1. Bargaining power of suppliers
      • 3.6.2. Bargaining power of buyers
      • 3.6.3. Threat from new entrants
      • 3.6.4. Threat from new substitutes
      • 3.6.5. Degree of competition
    • 3.7. Market attractiveness analysis
      • 3.7.1. Market attractiveness analysis, by type segment
      • 3.7.2. Market attractiveness analysis, by application segment
        • 3.7.2.1. Market attractiveness analysis, by regional segment
  •  
  • Chapter 4. Global Automotive Steering Systems - Competitive Landscape
    • 4.1. Company Market Share Analysis
      • 4.1.1. Global Automotive Steering Systems: company market share, 2016
    • 4.2. Strategic Development
      • 4.2.1. Acquisitions & Mergers
      • 4.2.2. New Product Launch
      • 4.2.3. Agreements, Partnerships, Collaborations and Joint Ventures
      • 4.2.4. Research and Development, Therapy and Regional Expansion
    • 4.3. Market Definition
    • 4.4. Product Portfolio
    • 4.5. Industry Development
    • 4.6. Technological roadmap
  •  
  • Chapter 5. Global Automotive Steering Systems - Type Segment Analysis
    • 5.1. Global Automotive Steering Systems: type overview
      • 5.1.1. Global Automotive Steering Systems revenue share, by type, 2017 and 2026
    • 5.2. Electronic Power Steering Systems (EPS)
      • 5.2.1. Global Electronic Power Steering Systems (EPS, 2016 - 2026(USD Million)
    • 5.3. Hydraulic Power Steering Systems (HPS)
      • 5.3.1. Global Hydraulic Power Steering Systems (HPS), 2016 - 2026(USD Million)
    • 5.4. Electro-Hydraulic Power Steering Systems (EHPS)
      • 5.4.1. Global Electro-Hydraulic Power Steering Systems (EHPS), 2016 - 2026(USD Million)
  •  
  • Chapter 6. Global Automotive Steering Systems - Application Segment Analysis
    • 6.1. Global Automotive Steering Systems: Application overview
      • 6.1.1. Global Automotive Steering Systems revenue share, by Application, 2017 and 2026
    • 6.2. Passenger Vehicle
      • 6.2.1. Global Automotive Steering Systems for Passenger Vehicle, 2016 - 2026 (USD Million)
    • 6.3. Commercial Vehicle
      • 6.3.1. Global Automotive Steering Systems for Commercial Vehicle, 2016 - 2026(USD Million)
  •  
  • Chapter 7. Global Automotive Steering Systems - Regional Segment Analysis
    • 7.1. Global Automotive Steering Systems: Regional overview
      • 7.1.1. Global Automotive Steering Systems revenue share, by region, 2017 and 2026
    • 7.2. North America
      • 7.2.1. North America Automotive Steering Systems revenue, by type, 2016 - 2026 (USD Million)
      • 7.2.2. North America Automotive Steering Systems revenue, by Application, 2016 - 2026 (USD Million)
      • 7.2.3. U.S. Automotive Steering Systems revenue, 2016 - 2026 (USD Million)
      • 7.2.4. Rest of North America Automotive Steering Systems revenue, 2016 - 2026 (USD Million)
    • 7.3. Europe
      • 7.3.1. Europe Automotive Steering Systems revenue, by type, 2016 - 2026(USD Million)
      • 7.3.2. Europe Automotive Steering Systems revenue, by Application, 2016 - 2026(USD Million)
      • 7.3.3. Germany Automotive Steering Systems revenue, 2016 - 2026(USD Million)
      • 7.3.4. UK Automotive Steering Systems revenue, 2016 - 2026(USD Million)
      • 7.3.5. France Automotive Steering Systems revenue, 2016 - 2026(USD Million)
      • 7.3.6. Italy Automotive Steering Systems revenue, 2016 - 2026(USD Million)
      • 7.3.7. Spain Automotive Steering Systems revenue, 2016 - 2026(USD Million)
      • 7.3.8. Rest of Europe Automotive Steering Systems revenue, 2016 - 2026(USD Million)
    • 7.4. Asia Pacific
      • 7.4.1. Asia Pacific Automotive Steering Systems revenue, by type, 2016 - 2026, (USD Million)
      • 7.4.2. Asia Pacific Automotive Steering Systems revenue, by Application, 2016 - 2026(USD Million)
      • 7.4.3. China Automotive Steering Systems revenue, 2016 - 2026(USD Million)
      • 7.4.4. Japan Automotive Steering Systems revenue,2016 - 2026(USD Million)
      • 7.4.5. India Automotive Steering Systems revenue,2016 - 2026(USD Million)
      • 7.4.6. Southeast AsiaAutomotive Steering Systems revenue,2016 - 2026(USD Million)
      • 7.4.7. Rest of Asia Pacific Automotive Steering Systems revenue, 2016 - 2026(USD Million)
    • 7.5. Latin America
      • 7.5.1. Latin America Automotive Steering Systems revenue, by type, 2016 - 2026(USD Million)
      • 7.5.2. Latin America Automotive Steering Systems revenue, by Application, 2016 - 2026(USD Million)
      • 7.5.3. Brazil Automotive Steering Systems revenue, 2016 - 2026(USD Million)
      • 7.5.4. Rest of Latin America Automotive Steering Systems revenue, 2016 - 2026(USD Million)
    • 7.6. Middle East and Africa
      • 7.6.1. Middle East and Africa Automotive Steering Systems revenue, by type, 2016 - 2026 (USD Million)
      • 7.6.2. Middle East and Africa Automotive Steering Systems revenue, by Application, 2016 - 2026(USD Million)
      • 7.6.3. GCC Countries Automotive Steering Systems revenue, 2016 - 2026(USD Million)
      • 7.6.4. South Africa Automotive Steering Systems revenue, 2016 - 2026(USD Million)
      • 7.6.5. Rest of Middle East and Africa Automotive Steering Systems revenue, 2016 - 2026(USD Million)
  •  
  • Chapter 8. Company Profile
    • 8.1. Bosch Limited
      • 8.1.1. Overview
      • 8.1.2. Financials
      • 8.1.3. Product portfolio
      • 8.1.4. Business strategy
      • 8.1.5. Recent developments
    • 8.2. Nexteer Automotive
      • 8.2.1. Overview
      • 8.2.2. Financials
      • 8.2.3. Product portfolio
      • 8.2.4. Business strategy
      • 8.2.5. Recent developments
    • 8.3. Robert Bosch Automotive Steering GmbH
      • 8.3.1. Overview
      • 8.3.2. Financials
      • 8.3.3. Product portfolio
      • 8.3.4. Business strategy
      • 8.3.5. Recent developments
    • 8.4. SHOWA Corporation.
      • 8.4.1. Overview
      • 8.4.2. Financials
      • 8.4.3. Product portfolio
      • 8.4.4. Business strategy
      • 8.4.5. Recent developments
    • 8.5. Sona Koyo Steering Systems Ltd
      • 8.5.1. Overview
      • 8.5.2. Financials
      • 8.5.3. Product portfolio
      • 8.5.4. Business strategy
      • 8.5.5. Recent developments
    • 8.6. Thyssenkrupp Business Area Components Technology
      • 8.6.1. Overview
      • 8.6.2. Financials
      • 8.6.3. Product portfolio
      • 8.6.4. Business strategy
      • 8.6.5. Recent developments
    • 8.7. China Automotive Systems, Inc.
      • 8.7.1. Overview
      • 8.7.2. Financials
      • 8.7.3. Product portfolio
      • 8.7.4. Business strategy
      • 8.7.5. Recent developments
    • 8.8. Hyundai Mobis
      • 8.8.1. Overview
      • 8.8.2. Financials
      • 8.8.3. Product portfolio
      • 8.8.4. Business strategy
      • 8.8.5. Recent developments
    • 8.9. JTEKT Corporation
      • 8.9.1. Overview
      • 8.9.2. Financials
      • 8.9.3. Product portfolio
      • 8.9.4. Business strategy
      • 8.9.5. Recent developments
    • 8.10. ZF Friedrichshafen AG
      • 8.10.1. Overview
      • 8.10.2. Financials
      • 8.10.3. Product portfolio
      • 8.10.4. Business strategy
      • 8.10.5. Recent developments
    • 8.11. Yubei Steering Systems Co., Ltd.
      • 8.11.1. Overview
      • 8.11.2. Financials
      • 8.11.3. Product portfolio
      • 8.11.4. Business strategy
      • 8.11.5. Recent developments
    • 8.12. Zhejiang Wanda Steering Gear Co., Ltd.
      • 8.12.1. Overview
      • 8.12.2. Financials
      • 8.12.3. Product portfolio
      • 8.12.4. Business strategy
      • 8.12.5. Recent developments
    • 8.13. Mitsubishi Electric Corporation
      • 8.13.1. Overview
      • 8.13.2. Financials
      • 8.13.3. Product portfolio
      • 8.13.4. Business strategy
      • 8.13.5. Recent developments

Table Of Figures

List of Figures 

1. Market research process
2. Market research methodology
3. Global Automotive Steering Systems revenue, 2016 - 2026(USD Million) 
4. Porter’s five forces analysis
5. Automotive Steering Systems attractiveness analysis, by type segment
6. Automotive Steering Systems: Market attractiveness analysis, by Application Segment
7. Automotive Steering Systems: Market attractiveness analysis, by regional segment
8. Company market share analysis, 2017
9. Global Automotive Steering Systems revenue share by type, 2017 and 2026
10.  Global Electronic Power Steering Systems (EPS)Automotive Steering Systems, 2016 – 2026 (USD Million)
11.  Global Hydraulic Power Steering Systems (HPS)Automotive Steering Systems, 2016 – 2026(USD Million)
12. Global Electro-Hydraulic Power Steering Systems (EHPS)Automotive Steering Systems, 2016 – 2026(USD Million)
13. Global Automotive Steering Systems revenue share by Application, 2017 and 2026
14. Global Automotive Steering Systems for Passenger Vehicle, 2016 – 2026, (USD Million) 
15. Global Automotive Steering Systems for Commercial Vehicle, 2016 – 2026, (USD Million) 
16. Global Automotive Steering Systems, By Region, 2017 and 2026
17. North America Automotive Steering Systems, By Country , 2017 and 2026
18. U.S. Automotive Steering Systems Revenue (USD Mn), 2016-2026
19. Rest of North America Automotive Steering Systems Revenue (USD Mn), 2016-2026
20. Europe Automotive Steering Systems, By Country , 2017 and 2026
21. France Automotive Steering Systems Revenue (USD Mn),2016-2026
22. U.K. Automotive Steering Systems Revenue (USD Mn), 2016-2026
23. Spain Automotive Steering Systems Revenue (USD Mn), 2016-2026
24. Germany Automotive Steering Systems Revenue (USD Mn),2016-2026
25. Italy Automotive Steering Systems Revenue (USD Mn), 2016-2026
26. Rest of Europe Automotive Steering Systems Revenue (USD Mn),  2016-2026
27. Asia Pacific Automotive Steering Systems, By Country , 2017 and 2026
28. China Automotive Steering Systems Revenue (USD Mn), 2016-2026
29. Japan Automotive Steering Systems Revenue (USD Mn), 2016-2026
30. India Automotive Steering Systems Revenue (USD Mn), 2016-2026
31. Southeast Asia Automotive Steering Systems Revenue (USD Mn), 2016-2026
32. Rest of Asia Pacific Automotive Steering Systems Revenue (USD Mn), 2016-2026
33. Latin America Automotive Steering Systems, By Country , 2017 and 2026
34. Brazil Automotive Steering Systems Revenue (USD Mn), 2016-2026
35. Rest of Latin America Automotive Steering Systems Revenue (USD Mn), 2016-2026
36. Middle East & Africa Automotive Steering Systems, By Country , 2017 and 2026
37.  GCC Countries Automotive Steering Systems Revenue (USD Mn), 2016-2026
38. South Africa Automotive Steering Systems Revenue (USD Mn), 2016-2026
39. Rest of the Middle East & Africa Automotive Steering Systems Revenue (USD Mn), 2016-2026


Table Of Tables

List of Tables

1. Automotive Steering Systems: Market Snapshot   
2. Drivers of global Automotive Steering Systems: Impact analysis 
3. Restraints of global Automotive Steering Systems: Impact analysis  
4. Global Automotive Steering Systems (USD Mn), By  Type, 2016-2026
5. Global Automotive Steering Systems (USD Mn), By Application, 2016-2026
6. Global Automotive Steering Systems (USD Mn), By Region, 2016-2026 
7. North America Automotive Steering Systems  (USD Mn), By Country , 2016-2026 
8. North America Automotive Steering Systems revenue, by type, 2016 – 2026 (USD Million) 
9. North America Automotive Steering Systems revenue, by Application, 2016 – 2026 (USD Million) 
10. U.S. Automotive Steering Systems  (USD Mn), By  Type  , 2016-2026 
11. U.S. Automotive Steering Systems  (USD Mn), By Application  , 2016-2026 
12. Rest of North America Automotive Steering Systems  (USD Mn), By  Type  , 2016-2026 
13. Rest of North America Automotive Steering Systems  (USD Mn), By Application  , 2016-2026 
14. Europe Automotive Steering Systems  (USD Mn), By Country , 2016-2026 
15. Europe Automotive Steering Systems revenue, by type, 2016 – 2026 (USD Million) 
16. Europe Automotive Steering Systems revenue, by Application, 2016 – 2026 (USD Million) 
17. France Automotive Steering Systems  (USD Mn), By  Type  , 2016-2026 
18. France Automotive Steering Systems  (USD Mn), By Application  , 2016-2026 
19. The U.K. Automotive Steering Systems  (USD Mn), By  Type  , 2016-2026 
20. The U.K. Automotive Steering Systems  (USD Mn), By Application  , 2016-2026 
21. Spain Automotive Steering Systems  (USD Mn), By  Type  , 2016-2026 
22. Spain Automotive Steering Systems  (USD Mn), By Application  , 2016-2026 
23. Germany Automotive Steering Systems  (USD Mn), By  Type  , 2016-2026 
24. Germany Automotive Steering Systems  (USD Mn), By Application  , 2016-2026 
25. Italy Automotive Steering Systems  (USD Mn), By  Type  , 2016-2026 
26. Italy Automotive Steering Systems(USD Mn), By Application  , 2016-2026 
27. Rest of Europe Automotive Steering Systems  (USD Mn), By  Type  , 2016-2026 
28. Rest of Europe Automotive Steering Systems  (USD Mn), By Application  , 2016-2026 
29. Asia Pacific Automotive Steering Systems  (USD Mn), By Country , 2016-2026 
30. Asia Pacific Automotive Steering Systems revenue, by type, 2016 – 2026 (USD Million) 
31. Asia Pacific Automotive Steering Systems revenue, by Application, 2016 – 2026 (USD Million) 
32. China Automotive Steering Systems  (USD Mn), By  Type  , 2016-2026 
33. China Automotive Steering Systems  (USD Mn), By Application  , 2016-2026 
34. Japan Automotive Steering Systems  (USD Mn), By  Type  , 2016-2026 
35. Japan Automotive Steering Systems  (USD Mn), By Application  , 2016-2026 
36. India Automotive Steering Systems  (USD Mn), By  Type  , 2016-2026 
37. India Automotive Steering Systems  (USD Mn), By Application  , 2016-2026 
38. Southeast Asia Automotive Steering Systems  (USD Mn), By  Type  , 2016-2026 
39. Southeast Asia Automotive Steering Systems  (USD Mn), By Application  , 2016-2026 
40. Rest of Asia Pacific Automotive Steering Systems  (USD Mn), By  Type  , 2016-2026 
41. Rest of Asia Pacific Automotive Steering Systems  (USD Mn), By Application  , 2016-2026 
42. Latin America Automotive Steering Systems  (USD Mn), By Country , 2016-2026 
43. Latin America Automotive Steering Systems revenue, by type, 2016 – 2026 (USD Million) 
44. Latin America Automotive Steering Systems revenue, by Application, 2016 – 2026 (USD Million) 
45. Rest of Latin America Automotive Steering Systems revenue, by type, 2016 – 2026 (USD Million) 
46. Rest of Latin America Automotive Steering Systems revenue, by Application, 2016 – 2026 (USD Million)
47. Middle East & Africa Automotive Steering Systems  (USD Mn), By Country , 2016-2026 
48. Middle East & Africa Automotive Steering Systems revenue, by type, 2016 – 2026 (USD Million) 
49. Middle East & Africa Automotive Steering Systems revenue, by Application, 2016 – 2026 (USD Million) 
50. GCC Countries Automotive Steering Systems  (USD Mn), By  Type  , 2016-2026 
51. GCC Countries Automotive Steering Systems  (USD Mn), By Application  , 2016-2026 
52. South Africa Automotive Steering Systems  (USD Mn), By  Type  , 2016-2026 
53. South Africa Automotive Steering Systems  (USD Mn), By Application  , 2016-2026 
54. Rest of Middle East & Africa Automotive Steering Systems (USD Mn), By  Type  , 2016-2026 
55. Rest of Middle East & Africa Automotive Steering Systems  (USD Mn), By Application, 2016-2026

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