Automotive Steering System Market by Type (Electro-hydraulic Power Steering, Electronic Power Steering, Hydraulic Power Steering), Component (Electric Motor, Hydraulic Pump, Sensor), Vehicle - Global Forecast 2023-2030
The Automotive Steering System Market is projected to reach USD 45.53 billion by 2030 from USD 30.47 billion in 2022, at a CAGR of 5.14% during the forecast period.
Market Segmentation & Coverage:This research report analyzes various sub-markets, forecasts revenues, and examines emerging trends in each category to provide a comprehensive outlook on the Automotive Steering System Market.
- Based on Type, market is studied across Electro-hydraulic Power Steering, Electronic Power Steering, and Hydraulic Power Steering. The Electronic Power Steering commanded largest market share of 46.34% in 2022, followed by Electro-hydraulic Power Steering.
- Based on Component, market is studied across Electric Motor, Hydraulic Pump, Sensor, and Steering Column/Rack. The Steering Column/Rack commanded largest market share of 32.12% in 2022, followed by Hydraulic Pump.
- Based on Vehicle, market is studied across Commercial Vehicle and Passenger Vehicle. The Commercial Vehicle commanded largest market share of 58.64% in 2022, followed by Passenger Vehicle.
- Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 39.81% in 2022, followed by Asia-Pacific.
Market Statistics:The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.
FPNV Positioning Matrix:The FPNV Positioning Matrix is an indispensable tool for assessing the Automotive Steering System Market. It comprehensively evaluates vendors, analyzing key metrics related to Business Strategy and Product Satisfaction. This enables users to make informed decisions tailored to their specific needs. Through advanced analysis, vendors are categorized into four distinct quadrants, each representing a different level of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V). Be assured that this insightful framework empowers decision-makers to navigate the market with confidence.
Market Share Analysis:The Market Share Analysis offers invaluable insights into the vendor landscape Automotive Steering System Market. By evaluating their impact on overall revenue, customer base, and other key metrics, we provide companies with a comprehensive understanding of their performance and the competitive environment they confront. This analysis also uncovers the level of competition in terms of market share acquisition, fragmentation, dominance, and industry consolidation during the study period.
Key Company Profiles:The report delves into recent significant developments in the Automotive Steering System Market, highlighting leading vendors and their innovative profiles. These include Alps Electric Co., Ltd, Automotive IQ by IQPC GmbH, Ayd Infra Private Limited, Bendix Commercial Vehicle Systems LLC, Complete Steering Australia, ContiTech AG, Danfoss A/S, Delphi Technologies by BorgWarner Inc, Denso Corporation, FTL Steering Systems GmbH, GKN PLC., Global Steering Systems LLC, Hiatchi Ltd., Hyundai Mobis Co. Ltd, JIYI Robot (Shanghai) Co., Ltd., Jtekt Machine Systems Corp., Mando Corp., Mighty Auto Parts, Mitsubishi Electric Corporation, Moog by DRiV Automotive Inc., MTS Systems Corporation, Nexteer Automotive Corporation, NSK Ltd., Pailton Engineering Ltd., PSS Steering & Hydraulics, Rane Holdings Limited., Robert Bosch GmbH, Schaeffler Group, Sona Koyo Steering System Ltd, Thompson Ramo Wooldridge Inc., ThyssenKrupp AG, Trimble, Inc., and ZF Friedrichshafen AG.
The report offers valuable insights on the following aspects:- Market Penetration: It provides comprehensive information about key players' market dynamics and offerings.
- Market Development: In-depth analysis of emerging markets and penetration across mature market segments, highlighting lucrative opportunities.
- Market Diversification: Detailed information about new product launches, untapped geographies, recent developments, and investments.
- Competitive Assessment & Intelligence: Exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of leading players.
- Product Development & Innovation: Intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:- What is the market size and forecast for the Automotive Steering System Market?
- Which products, segments, applications, and areas hold the highest investment potential in the Automotive Steering System Market?
- What is the competitive strategic window for identifying opportunities in the Automotive Steering System Market?
- What are the latest technology trends and regulatory frameworks in the Automotive Steering System Market?
- What is the market share of the leading vendors in the Automotive Steering System Market?
- Which modes and strategic moves are suitable for entering the Automotive Steering System Market?
Please Note: PDF & Excel + Online Access - 1 Year