North America Automotive Electric Power Steering Market Forecast 2022-2030
KEY FINDINGS
The North America automotive electric power steering market is projected to surge with a 3.18% CAGR during the forecast period, 2022-2030. Heavy investments in research and development of innovative technologies and the surging adoption of electronic vehicles accelerate market growth.
MARKET INSIGHTS
The North America automotive electric power steering market growth evaluation includes the analysis of Canada and the United States. According to Canadian government sources, the country is one of the world’s top 12 producers of light vehicles. Further, major OEMs assemble over 1.4 million vehicles at their Canadian plants annually. Their plants are supplied by nearly 700 parts suppliers, including homegrown Tier 1 companies.
Furthermore, major car manufacturers in Canada like Fiat, Ford, General Motors, etc., dominate the dynamic industry, which is a major contributor to the country’s booming economy. Companies such as Rivian Trucks and Tesla Inc are game changers in the electric vehicle industry. Thus, owing to the above developments and enactment of stringent emission norms, automobile manufacturers are increasing their production of electric vehicles, boosting the demand and adoption of automotive electric power steerings in Canada.
COMPETITIVE INSIGHTS
Some of the major players operating in the market include ZF Group, Nexteer Automotive Group, Robert Bosch GmbH, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
- 1. Research Scope & Methodology
- 1.1. Study Objectives
- 1.2. Scope Of Study
- 1.3. Methodology
- 1.4. Assumptions & Limitations
- 2. Executive Summary
- 2.1. Market Size & Estimates
- 2.2. Market Overview
- 3. Market Dynamics
- 3.1. Key Drivers
- 3.1.1. Increased Fuel Efficiency In The Electric Power Steering Mechanism
- 3.1.2. Low Maintenance Compared To The Conventional Steering System
- 3.2. Key Restraints
- 3.2.1. Lack Of Steering Feel
- 4. Key Analytics
- 4.1. Impact Of Covid-19 On Automotive Electric Power Steering Market
- 4.2. Key Market Trends
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Buyers Power
- 4.3.2. Suppliers Power
- 4.3.3. Substitution
- 4.3.4. New Entrants
- 4.3.5. Industry Rivalry
- 4.4. Opportunity Matrix
- 4.5. Vendor Landscape
- 5. Market By Vehicle Type
- 5.1. Passenger Cars
- 5.2. Commercial Vehicles
- 5.2.1. Light Commercial Vehicles (Lcv)
- 5.2.2. Medium & Heavy Commercial Vehicles (M&Hcv)
- 6. Market By Mechanism
- 6.1. Column Type
- 6.2. Pinion Assist
- 6.3. Rack Assist
- 6.4. Other Mechanisms
- 7. Market By Component
- 7.1. Steering Rack/Column
- 7.2. Sensor
- 7.3. Steering Motor
- 7.4. Other Components
- 8. Geographical Analysis
- 8.1. North America
- 8.1.1. Market Size & Estimates
- 8.1.2. Key Growth Enablers
- 8.1.3. Key Challenges
- 8.1.4. Key Players
- 8.1.5. Country Analysis
- 8.1.5.1. United States
- 8.1.5.2. Canada
- 9. Competitive Landscape
- 9.1. Key Strategic Developments
- 9.1.1. Mergers & Acquisitions
- 9.1.2. Product Launches & Developments
- 9.1.3. Partnerships & Agreements
- 9.2. Company Profiles
- 9.2.1. China Automotive Systems Inc
- 9.2.2. Denso Corporation
- 9.2.3. Hitachi Astemo Ltd
- 9.2.4. Hyundai Mobis
- 9.2.5. Infineon Technologies
- 9.2.6. Jtekt Corporation
- 9.2.7. Mahle Gmbh
- 9.2.8. Mando Corporation
- 9.2.9. Mitsubishi Electric Corporation
- 9.2.10. Nexteer Automotive Group Ltd
- 9.2.11. Nidec Corporation
- 9.2.12. Nsk Ltd
- 9.2.13. Robert Bosch Gmbh
- 9.2.14. Thyssenkrupp Ag
- 9.2.15. Zf Group
Research Assistance
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook