Automotive Steering Systems Market Overview

The report is a clear presentation of the past, the current and future status of the global Automotive Steering Systems Market. The PORTER, PESTLE and SWOT analysis helps to understand Automotive Steering Systems industry through different perspectives including economic, political, etc. 

Automotive Steering Systems Market Report Scope and Research Methodology

The report covers the Automotive Steering Systems industry’s most recent revenue and market trends. It provides a Automotive Steering Systems market overview, definition, and structure, along with preventative and pre-planned management. The report focuses on the factors that affect the Automotive Steering Systems Market, such as gross margin, market share, cost, capacity utilization, demand and supply. The report provides the market size and share, which helps in understanding the market and the report estimates upfront data and statistics that make the report a very valuable guide for individuals dealing with decision-making processes in the Automotive Steering Systems market.

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The report examines the top players in the Automotive Steering Systems market in terms of their size, market share, revenue, production volume, and profitability. The report includes growth strategies being used by market players, including strategic alliances, and new product innovation, and helps to understand competitor pricing in the Automotive Steering Systems industry. SWOT analysis was used to present strengths, weaknesses, opportunities and threats in the Automotive Steering Systems market.

Automotive Steering Systems Market Regional Insights

The report has been segmented into many key countries, including market size, CAGR, import and export of Automotive Steering Systems market in the different countries mentioned in the report. The regions and their countries studied are: North America (U.S., Canada, Mexico),  Europe (UK, Germany, France, Spain, Rest of Europe),  Asia Pacific (China, India, Japan, Australia, South Korea, Asian Countries, Rest of APAC), South America (Brazil), Middle East and Africa.

Automotive Steering Systems Market Segmentation : 

Based on Vehicle Type, the automotive steering system market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger car category is expected to dominate the automotive steering system market during the forecast period, thanks to the rising sales and production in Asia Pacific emerging nations. The increasing use of electric power steering systems in passenger vehicles is also expected to boost growth in this section of the automotive steering system market. The automotive steering system market is also expected to grow in the light commercial vehicle segment. 

Based on Technology, the automotive steering system market is segmented into electric power steering (EPS), manual steering, hydraulic power steering (HPS), and electro-hydraulic power steering (EHPS). Because automakers are increasingly incorporating electric power steering into all vehicle models, the electric power steering sector is expected to dominate the automotive steering system market over the forecast period. 

Based on Pinion-Type, the dual pinion segment is expected to dominate the automotive steering systems market because to its improved fuel economy and steering feel. Dual pinion allows more design options in locating the motor and controller, as well as assisting the mechanism opposite the driver side, lowering the danger of leg damage in the event of a collision.

Based on EPS Type, R-EPS can steer vehicle types ranging from mid-sized automobiles to full-sized trucks, thus, it is expected to be the fastest-growing EPS type sector. Customers' shifting preferences from passenger cars to compact SUVs and higher-end vehicles are also likely to promote R-EPS category growth. R-EPS also saves critical space in engine compartments and is easily adaptable to various vehicle platforms.

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Market Key Players

● China Automotive Systems, Inc.
● Nexteer Automotive
● Hitachi Automotive Systems Americas, Inc.
● Hyundai Mobis
● JTEKT Corporation
● The Mando Corporation
● NSK Ltd.
● Robert Bosch GmbH
● Showa Corporation
● ThyssenKrupp AG
● Magna International
● Mitsubishi Electric Corporation
● Denso Corporation
● Sona Corporation
● Knorr-Bremse AG
● ZF Friedrichshafen AG
● Rollax GmbH & Co. KG

Key Offerings:

• Market Share, Size & Forecast by Revenue | 2022−2029

• Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends

• Market Segmentation – A detailed analysis by segments, sub-segments and Region

• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

About Maximize Market Research:

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