Global Automotive Power Steering Motor Market 2022-2026

Global Automotive Power Steering Motor Market 2022-2026

Technavio has been monitoring the automotive power steering motor market and it is poised to grow by $ 622.5 mn during 2022-2026 progressing at a CAGR of 6.45% during the forecast period. Our report on the automotive power steering motor market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by rise in demand from emerging APAC countries, developments in the market, and growing SUVs in the market.

The automotive power steering motor market analysis includes the application segment and geographic landscape.

Technavio's automotive power steering motor market is segmented as below:

By Application

• Passenger cars
• Commercial vehicles

By Geographical Landscape

• APAC
• Europe
• North America
• South America
• Middle East and Africa

This study identifies the continuous advances in automotive steering technology as one of the prime reasons driving the automotive power steering motor market growth during the next few years. Also, increasing penetration of steer-by-wire technology and increase in mergers and acquisition activities (M and A) will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on automotive power steering motor market covers the following areas:

• Automotive power steering motor market sizing
• Automotive power steering motor market forecast
• Automotive power steering motor market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive power steering motor market vendors that include Allied Motion Technologies Inc., BorgWarner Inc., Brose Fahrzeugteile SE and Co. KG, DENSO Corp., General Motors Co., Hitachi Astemo Americas Inc., Johnson Electric Holdings Ltd., JTEKT Corp., Komachine Co., Lucas TVS LTD., Mando Corp., Mitsubishi Electric Corp., Nexteer Automotive Group Ltd., Nidec Corp., NSK Ltd., Robert Bosch Stiftung GmbH, thyssenkrupp AG, and ZF Friedrichshafen AG. Also, the automotive power steering motor market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Companies Mentioned

Allied Motion Technologies Inc., BorgWarner Inc., Brose Fahrzeugteile SE and Co. KG, DENSO Corp., General Motors Co., Hitachi Astemo Americas Inc., Johnson Electric Holdings Ltd., JTEKT Corp., Komachine Co., Lucas TVS LTD., Mando Corp., Mitsubishi Electric Corp., Nexteer Automotive Group Ltd., Nidec Corp., NSK Ltd., Robert Bosch Stiftung GmbH, thyssenkrupp AG, ZF Friedrichshafen AG