Automotive Steering Systems Market Overview:
The study covers the global Automotive Steering Systems market in depth, precisely, and completely, with a focus on market dynamics, market competition, regional growth, segmental analysis, and significant growth plans. Data on market growth, as well as market segmentation by regions, product type, application, and industry end-use, are included in the report. Experts provide detailed and exact marketing research reports using the most up-to-date Automotive Steering Systems Market research techniques and technology. The Automotive Steering Systems market size and share, as well as a wide range of industry verticals, are all thoroughly examined in this study.
For detail insights on this market, request for methodology here@ https://www.maximizemarketresearch.com/request-sample/118519
Automotive Steering Systems Market Dynamics:
Across the globe, a number of nations have enacted strict regulations regarding vehicle emissions and fuel efficiency. Fleet-level rules have been put into place by regulatory bodies such the National Highway Traffic and Safety Administration in the United States. Automakers are required to adhere to the average emission cap set by these guidelines.
Automotive steering producers have been forced by these regulations to increase their investments in fuel-efficient steering technology, such electronic power steering. Compared to conventional hydraulic steering systems, electrically assisted power steering systems are lighter and more easily assembled.
Automotive Steering Systems Market Scope:
This study delves deeply into demand estimations, market trends, and micro and macro aspects. The aspects that are fueling and limiting the market’s growth are also highlighted in this report. The MMR Matrix in the study provides existing and new market participants with information on potential investment opportunities. The research employs analytical methodologies such as Porter’s five forces analysis and PESTLE of the Automotive Steering Systems market to generate market insights. Current market trends and forecasts for the years 2023-2029 are also examined in the study. The research also identified significant upcoming developments that will affect demand over the predicted period.
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)
Since R-EPS can steer a variety of vehicle kinds, from full-sized trucks to mid-sized cars, it is predicted to be the EPS type sector with the quickest rate of growth. Consumer preferences that are changing from sedans to higher-end vehicles and compact SUVs should help the R-EPS category grow. R-EPS is also readily adjustable to different vehicle platforms and conserves vital space in engine compartments. Leading North American steering manufacturer Nexteer Automotive Group Limited claims that R-EPS makes up over 90% of the full-size truck market. Throughout the projection period, the R-EPS sector of the automotive steering systems market is anticipated to develop at a faster rate because to the rising demand for potent light commercial vehicles in the United States.
Based on Vehicle Type, The automotive steering system market is divided into three segments based on the type of vehicle: passenger cars, light commercial vehicles, and heavy commercial vehicles. Because of the growing sales and production in the emerging economies of Asia Pacific, the passenger vehicle segment is anticipated to hold a dominant market share during the projection period for automotive steering systems. This segment of the automotive steering system market is predicted to increase at a faster rate due to the growing use of electric power steering systems in passenger cars. The market for automotive steering systems in the light commercial vehicle category is anticipated to expand as well.
Light commercial vehicles frequently have hydraulic power steering systems. Additionally, the growing need for trade-related logistics services is anticipated to support the expansion of the automobile steering systems market in this particular area.
Based on Technology, The automobile steering system market is divided into four segments based on technology: electro-hydraulic power steering (EHPS), manual steering, hydraulic power steering (HPS), and electric power steering (EPS). Over the course of the forecast period, the electric power steering sector is predicted to dominate the automotive steering system market due to automakers’ increased integration of electric power steering into all vehicle models. This segment of the automotive steering system market is predicted to increase at a faster rate due to developments in electric power steering and steer-by-wire technologies.
Over the course of the forecast period, the market for hydraulic power steering is anticipated to expand due to its extensive usage in commercial vehicles. Electric power steering is not used in commercial vehicles due to its limited capacity to support loads.
Based on Pinion-Type, Because of its better fuel efficiency and steering feel, the dual pinion segment, based on pinion type, is anticipated to dominate the automotive steering systems market. A dual pinion reduces the risk of leg damage in the case of a collision by providing additional design alternatives for where to place the motor and controller. It also helps the mechanism that is located on the opposite side of the driver. Moreover, throughout the forecast period, the dual pinion segment of the automotive steering systems market is anticipated to develop at the lead of the increasing penetration of the C and D vehicle sectors.
For detail insights on this market, request for methodology here@ https://www.maximizemarketresearch.com/request-sample/118519
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
For any Queries Linked with the Report, Ask an Analyst@ https://www.maximizemarketresearch.com/market-report/global-automotive-steering-systems-market/118519/
Regional Analysis:
Thanks to the geographical insights in the reports, readers will be well-informed on the Automotive Steering Systems market on a regional level. A detailed awareness of local energy, economic, political, and geographic factors is required for any meaningful assessment of potential policy options in response to global market change. The study provides readers with regional perspectives on Automotive Steering Systems market and local growth potential, as well as domestic area restraints.
- Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
- Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
- North America (the United States, Mexico, and Canada.)
- South America (Braazil etc.)
- The Middle East and Africa (GCC Countries and Egypt.)
COVID-19 Impact Analysis on Automotive Steering Systems Market:
The impact of COVID-19 on the market is thoroughly examined in the Automotive Steering Systems market research. As a result of the COVID-19 problem, researchers at Maximize Market Research, who are following the situation across the globe, believe that the market will provide profitable opportunities for producers. The report’s purpose is to provide a more comprehensive view of the current situation, the economic downturn, and the influence of COVID-19 on the entire industry.
The research provides data-driven insights and recommendations on a variety of topics. The following are some of the most significant inquiries:
- What are the major current developments that could affect the product’s life cycle and return on investment?
- What are the implications of regulatory changes on corporate, business, and functional strategies?
- Will the micromarketing efforts of the main players result in investment?
- What are the best frameworks and methodologies for PESTLE analysis?
- In what areas will there be more new opportunities?
- What are the game-changing technologies that will be used to capture new revenue streams in the near future?
- How can various players develop client loyalty utilising distinct operational and tactical frameworks?
- What is the current and expected degree of market competition in the near future?
About Us
Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.
Our Address
- MAXIMIZE MARKET RESEARCH PVT. LTD.
- ⮝ 3rd Floor, Navale IT park Phase 2,
- Pune Banglore Highway, Narhe
- Pune, Maharashtra 411041, India.
- ✆ +91 9607365656
- 🖂 [email protected]
- www.maximizemarketresearch.com
