Global Rear Axle Steering System Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Rear Axle Steering System Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The rear axle steering system consists essentially of two components: the cylinder unit with integrated position sensor and valve system, and the power unit, consisting of a motor-driven electric pump and control unit. Depending on the requirements and available constructed space, two variants come into operation: the central- and the dual-actuator principles. The central actuator (also called the single actuator) is installed in the center of the axle and steers both wheels via the toe link. In the dual-actuator principle, each wheel is individually steered by a separate actuator. Moreover, the capability to steer the rear axle has advantages in almost every driving situation. It increases your ability to drive through narrow streets, it would give you a tighter turning circle. It gives more confidence driving at higher speeds on winding roads and at very high speeds it increases vehicle stability.

Market Overview:

The latest research study on the global Rear Axle Steering System market finds that the global Rear Axle Steering System market reached a value of USD 585.13 million in 2022. It’s expected that the market will achieve USD 897.84 million by 2028, exhibiting a CAGR of 7.4% during the forecast period.

Rear Axle Steering System Drivers

The ever more demanding requirements faced by commercial vehicles in today's transportation industry can only be satisfied on the rear axle through use of an innovative steering system with electronic interface.

With the rear axle steering system the linking of the rear axle steering to the vehicle's electrical system is now possible. The available vehicle signals (e.g. steering angle of the front axle) on the CAN bus are transmitted to the integrated control unit (ECU). From these signals, the rear axle steering system determines the desired steering angle of the rear axle and controls the pump by means of the electric motor on the basis of the target-actual comparison.

Rear Axle Steering System itself has prominent advantages and is conducive to the development of the industry. The rear axle steering system offers enhanced stability and enables the driver to avoid potholes and high winds while driving with minimal swaying of the vehicle. Additionally, the rear axle steering system enables the driver to easily cross over to the next lane with minimal turning efforts during lane change. With the rear axle steering system, there is no need for the driver to accelerate during lane change to maintain vehicle speed. The automotive rear axle steering system can improve the safety rating of a vehicle and minimize the probability of an accident due to rollover or instability. New vehicles equipped with the rear axle steering system can respond faster when turning and switching lanes. Furthermore, rear axle steering system enables the vehicle to turn the rear wheels in the opposite direction of the front wheels, which enables the driver to complete smaller circular turns at lower speeds. All the factors mentioned above are expected to increase the adoption of the rear axle steering system in automobiles in near future and consequently, drive the global rear axle steering system market. The powerful functions and benefits of Rear Axle Steering System drive consumption, which is beneficial to the development of the industry.

Region Overview:

From 2023-2028, Europe is estimated to witness robust growth prospects.

Company Overview:

The top three companies are ZF Friedrichshafen, Bosch, Aisin Group with the revenue market share of 42.50%, 21.37%, 6.11% in 2021.

ZF Friedrichshafen is a global leader in driveline and chassis technology as well as active and passive safety technology. ZF Friedrichshafen AG, also known as ZF Group, originally Zahnradfabrik Friedrichshafen, and commonly abbreviated to ZF, is a German car parts maker headquartered in Friedrichshafen, in the south-west German state of Baden-Württemberg. Specialising in engineering, it is primarily known for its design, research and development, and manufacturing activities in the automotive industry. It is a worldwide supplier of driveline and chassis technology for cars and commercial vehicles, along with specialist plant equipment such as construction equipment. It is also involved in rail, marine, defense and aviation industries, as well as general industrial applications. ZF has 241 production locations in 41 countries with approximately 148,000 employees.

Robert Bosch GmbH, commonly known as Bosch, is a German multinational engineering and technology company headquartered in Gerlingen. The company was founded by Robert Bosch in Stuttgart in 1886. Robert Bosch Gesellschaft mit beschraenkter Haftung manufacture auto parts. The Company offers auto spare parts, mobility, home appliances, and industrial products, as well as business process outsourcing, drive and control technology, energy, and building solutions. Robert Bosch serves customers worldwide.

Segmentation Overview:

Among different product types, Single/Central Actuator segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Passenger Car segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Rear Axle Steering System market covered in Chapter 3:

Paul Nutzfahrzeuge
ZF Friedrichshafen
Aisin Group
Bosch

In Chapter 4 and Chapter 14.2, on the basis of types, the Rear Axle Steering System market from 2018 to 2029 is primarily split into:

Single/Central Actuator
Dual Actuator

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Rear Axle Steering System market from 2018 to 2029 covers:

Passenger Car
Commercial Vehicle

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)