Global Automotive Steering Gearbox Market 2024-2028
The automotive steering gearbox market is forecasted to grow by USD 8.97 bn during 2023-2028, accelerating at a CAGR of 8.67% during the forecast period. The report on the automotive steering gearbox 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 market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for high torque and performance in trucks, increasing adoption of electric power steering, and stringent regulations to control emissions.
Technavio's automotive steering gearbox market is segmented as below:
By Type
- Electric power steering
- Hydraulic power steering
- Electro-hydraulic power steering
By Application
- Passenger cars
- Commercial cars
By Geographical Landscape
- APAC
- Europe
- North America
- South America
- Middle East and Africa
This study identifies the development of magnetic torque overlay as one of the prime reasons driving the automotive steering gearbox market growth during the next few years. Also, steering gear for steer-by-wire system and increasing popularity of dual-pinion steering systems will lead to sizable demand in the market.
The report on the automotive steering gearbox market covers the following areas:
- Automotive steering gearbox market sizing
- Automotive steering gearbox market forecast
- Automotive steering gearbox market industry analysis
The 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 steering gearbox market vendors that include Akashi Kikai Kogyo Co. Ltd., ATS Automation Tooling Systems Inc., Cardone Industries Inc., China Automotive Systems Inc., DENSO Corp., Ford Motor Co., HL Mando Co. Ltd., Hyundai Motor Co., JTEKT Corp., Knorr Bremse AG, Melrose Industries Plc, Mitsubishi Heavy Industries Ltd., Nexteer Automotive Group Ltd., Robert Bosch GmbH, thyssenkrupp AG, and ZF Steering Gear (India) Ltd.. Also, the automotive steering gearbox 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.
The publisher 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. The 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.