Automotive Steering Control Module Market was valued at USD 12.5 Billion in 2022 and is projected to reach USD 19.8 Billion by 2030, growing at a CAGR of 7.7% from 2024 to 2030.
The global automotive steering control module market was valued at approximately USD 15 billion in 2022 and is projected to reach around USD 22 billion by 2027. This growth represents a compound annual growth rate (CAGR) of about 7% from 2022 to 2027. The rise in the adoption of advanced driver assistance systems (ADAS) and increasing demand for enhanced vehicle safety and driving comfort are key drivers contributing to the market's expansion. As automotive manufacturers increasingly integrate electronic steering control systems to meet stringent safety regulations and consumer expectations, the market shows robust growth potential.
Opportunities in the automotive steering control module market are amplified by the emergence of electric and autonomous vehicles, which demand sophisticated steering technologies. The market is experiencing heightened investment in research and development to create innovative steering solutions that improve vehicle handling and safety. Emerging markets, particularly in Asia-Pacific regions, are witnessing accelerated growth due to rising automotive production and increased consumer preference for advanced steering systems. This dynamic landscape offers significant opportunities for stakeholders to delve into new technologies and capitalize on the expanding market segments.
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Bosch
DENSO
ZF Friedrichshafen
HELLA
Eaton
Thyssenkrupp
Nexteer Automotive
Mando
CIE Automotive
KSR International
NSK
Leopold Kostal
JTEKT
Hyundai Mobis
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Automotive Steering Control Module Market
Passenger Vehicles
Medium Commercial Vehicles
Light Duty Commercial Vehicles
Based on Types the Market is categorized into Below types that held the largest Automotive Steering Control Module market share In 2023.
Power-Assisted Steering (EPAS)
Electric Hydraulic Power Steering (EHPS)
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Automotive Steering Control Module Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Automotive Steering Control Module Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automotive Steering Control Module Market, By Type
6. Global Automotive Steering Control Module Market, By Application
7. Global Automotive Steering Control Module Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Automotive Steering Control Module Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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