Automotive Steering Systems Market Set to Accelerate: Projected to Attain USD 44.30 Billion by 2029

Automotive Steering Systems Market was valued at USD 32.12 Billion in 2022, and is expected to reach USD 44.30 Billion by 2029, exhibiting a CAGR of 4.7% during the forecast period (2023-2029)

Automotive Steering Systems Market Report Overview:

Maximize Market Research is pleased to announce the release of its latest comprehensive report, providing a detailed analysis of the current state of the global Automotive Steering Systems Market. The report delves into the present market scenario, past performance, production and consumption rates, demand and supply ratios, and income generation forecast

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Automotive Steering Systems Market Report Scope and Research Methodology:  

Continuous technological advancements in the automotive industry, along with the development of innovative ways to improve the entire travel experience, have significantly raised the standard of cars manufactured twenty years ago. Original Equipment Manufacturers, or OEMs, in the automotive industry, have introduced a number of cutting-edge technologies that enhance the efficiency and aesthetic appeal of vehicles in addition to other performance metrics.

Automotive Steering Systems Market Dynamics:

Across the globe, a number of nations have enacted strict regulations regarding vehicle emissions and fuel efficiency. Fleet-level requirements have been put into place by regulatory bodies like the National Highway Traffic and Safety Administration in the United States.

Automotive Steering Systems Market Regional Insights:

The regional analysis in the report unveils insights into the Automotive Steering Systems Market across various countries, examining political, geographic, and buying behavior factors influencing the market. Details on market size, growth rate, and import-export activities in all regions are elucidated.

Automotive Steering Systems Market Segmentation:

by Component

1. Hydraulic Pump
2. Steering Column
3. Electric Motor
4. Steering Wheel Speed Sensor

by Technology

1. Electric power steering (EPS)
2. Electrically assisted hydraulic power steering (EHPS)
3. Hydraulic power steering (HPS)

by EPS Type

1. Column-EPS (C-EPS)
2. Pinion-EPS (P-EPS)
3. Rack-EPS (R-EPS)

by Pinion-Type

1. Single
2. Dual

by Mechanism

1. Collapsible EPS
2. Rigid EPS

by Vehicle Type

1. Passenger Car (PC)
2. Light Commercial Vehicle (LCV)
3. Heavy Commercial Vehicle (HCV)

Automotive Steering Systems Market Key Players:

1. China Automotive Systems, Inc.
2. Nexteer Automotive
3. Hitachi Automotive Systems Americas, Inc.
4. Hyundai Mobis
5. JTEKT Corporation
6. The Mando Corporation
7. NSK Ltd.
8. Robert Bosch GmbH
9. Showa Corporation
10. ThyssenKrupp AG
11. Magna International
12. Mitsubishi Electric Corporation
13. Denso Corporation
14. Sona Corporation
15. Knorr-Bremse AG
16. ZF Friedrichshafen AG
17. Rollax GmbH & Co. KG

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Automotive Steering Systems Market Key Questions Answered:

• What is the forecast period?
• What is the expected Automotive Steering Systems Market size by the end of the forecast period?
• Which segment held the largest Automotive Steering Systems Market share in 2022?
• Which segment is expected to grow at a high CAGR during the forecast period?
• Which Automotive Steering Systems Market segment is expected to grow at a high rate during the forecast period?
• What is the expected Automotive Steering Systems Market size by 2029?
• What are the main factors driving the growth of the Automotive Steering Systems Market?
• Which region has the largest Automotive Steering Systems Market share?
• What is the expected CAGR of the Automotive Steering Systems Market during the forecast period?
• Who are the Automotive Steering Systems Market key players in the industry?

Automotive Steering Systems Market Key Offerings:

• Detailed Market Overview
• Market Share
• Market Size
• Market Forecast by Revenue
• Market Dynamics (Growth drivers, Restraints, Investment Opportunities, and key trends)
• Market Segmentation (Detailed analysis of each segment and their sub-segments)
• Competitive Landscape (Leading key players and other prominent key players)

Related Reports:

Wheel Stud Market: https://www.maximizemarketresearch.com/market-report/wheel-stud-market/146937/

Steering Wheel Armature Market: https://www.maximizemarketresearch.com/market-report/steering-wheel-armature-market/147048/ 

About Maximize Market Research:

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