Automotive Steering System Market by Steering System Type - Global Opportunity Analysis and Industry Forecasts, 2014-2022

  • ID: 4333237
  • Report
  • Region: Global
  • 100 pages
  • Allied Analytics LLP
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FEATURED COMPANIES

  • Hyundai Mobis Co. Ltd.
  • Jtekt Corporation,
  • Mando Corporation,
  • Nexteer Automotive,
  • Thyssenkrupp Presta Ag,
  • Zf Friedrichshafen Ag,
  • MORE
Automotive steering system helps the driver maneuver and control the direction of the vehicle. It includes the hand-operated steering wheel, steering column, universal joints, and rack & pinion mechanism. The steering system has evolved from manual steering to power assist steering. Moreover, effective steering system increases the fuel efficiency of vehicle.

Surge in demand for fuel efficient automobiles and the rise in disposable income of consumers primarily drives the market. In addition, technology such as drive-by-wire is expected to be implemented in future vehicles, indicating lucrative growth opportunity. However, the high cost associated with power steering system could hamper the market growth.

The market is segmented by various types of automotive steering system namely as hydraulic power steering, electronic power steering, and electro-hydraulic power steering system. Moreover, on the basis of vehicle type, the market is segmented as heavy commercial vehicle, light commercial vehicle, and passenger vehicle. Geographically, the market is divided into North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the report are JTEKT Corporation, Nexteer Automotive, Mando Corporation, ThyssenKrupp Presta AG, Robert Bosch Automotive Steering GmbH, Showa Corporation, NSK Ltd, ZF Friedrichshafen AG, Sona Koyo Steering Systems Ltd, and Hyundai Mobis Co. Ltd.

KEY BENEFITS FOR STAKEHOLDERS

The report provides an extensive analysis of the current and emerging market trends in this market
It offers quantitative analysis, which assists in identifying the prevailing market opportunities
Comprehensive analysis of factors that drive and restrict the market growth are provided in the report
Competitive intelligence of leading players of automotive steering system helps understand the competitive scenario across geographies

KEY MARKET SEGMENTS:

BY STEERING SYSTEM TYPE

Hydraulic Power Steering
Electronic Power Steering
Electro-Hydraulic Power Steering System

BY VEHICLE TYPE

Heavy Commercial Vehicle
Light Commercial Vehicle
Passenger Vehicle

BY GEOGRAPHY

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Hyundai Mobis Co. Ltd.
  • Jtekt Corporation,
  • Mando Corporation,
  • Nexteer Automotive,
  • Thyssenkrupp Presta Ag,
  • Zf Friedrichshafen Ag,
  • MORE
CHAPTER 1 INTRODUCTION

1.1 Report Description
1.2 Key Benefits for Stakeholders
1.3 Key Market Segments:
1.4 Research methodology

1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models

CHAPTER 2 EXECUTIVE SUMMARY

2.1 Market Snapshot
2.2 CXO perspective

CHAPTER 3 MARKET OVERVIEW

3.1 Market definition and scope
3.2 Key Findings

3.2.1 Top impacting factor
3.2.2 Top winning strategies
3.2.3 Top investment pockets

3.3 Porters five forces analysis

3.3.1 Low bargaining power of suppliers due to large number of suppliers and low switching cost
3.3.2 Moderate bargaining power of buyer due to large number of buyers and huge purchase quantity
3.3.3 Low threat of substitutes due to non-availability of substitutes
3.3.4 Low threat of new entrants due to high entry barrier
3.3.5 High competition among rivalries due to large number of competitors & high exit barrier

3.4 Market share analysis, 2015
3.5 Drivers

3.5.1 Increasing demand of automotive
3.5.2 Adoption of power steering system
3.5.3 Increase in demand of fuel efficient vehicle
3.5.4 Consumer preference towards driving comfort

3.6 Restraints

3.6.1 High cost associated with power steering system

3.7 Opportunities

3.7.1 Introduction of Drive-by-wire

CHAPTER 4 GLOBAL AUTOMOTIVE STEERING SYTSTEM MARKET, BY TYPE

4.1 Introduction
4.2 Electronic Power Steering

4.2.1 Key Market Trends
4.2.2 Key Growth Factors and Opportunities
4.2.3 Market Size and Forecast
4.2.4 North America Automotive Steering System Market for Electronic Power Steering, ($Million), Growth (%) 2014-2022
4.2.5 Europe Automotive Steering System Market for Electronic Power Steering, ($Million), Growth (%) 2014-2022
4.2.6 Asia-Pacific Automotive Steering System Market for Electronic Power Steering, ($Million), Growth (%) 2014-2022
4.2.7 LAMEA Automotive Steering System Market for Electronic Power Steering, ($Million), Growth (%) 2014-2022

4.3 Hydraulic Power Steering

4.3.1 Key Market Trends
4.3.2 Key Growth Factors and Opportunities
4.3.3 Market Size and Forecast
4.3.4 North America Automotive Steering System Market for Hydraulic Power Steering, ($Million), Growth (%) 2014-2022
4.3.5 Europe Automotive Steering System Market for Hydraulic Power Steering, ($Million), Growth (%) 2014-2022
4.3.6 Asia-Pacific Automotive Steering System Market for Hydraulic Power Steering, ($Million), Growth (%) 2014-2022
4.3.7 LAMEA Automotive Steering System Market for Hydraulic Power Steering, ($Million), Growth (%) 2014-2022

4.4 Electro-Hydraulic Power Steering

4.4.1 Key Market Trends
4.4.2 Key Growth Factors and Opportunities
4.4.3 Market Size and Forecast
4.4.4 North America Automotive Steering System Market for Electro-Hydraulic Power Steering, ($Million), Growth (%) 2014-2022
4.4.5 Europe Automotive Steering System Market for Electro-Hydraulic Power Steering, ($Million), Growth (%) 2014-2022
4.4.6 Asia-Pacific Automotive Steering System Market for Electro-Hydraulic Power Steering, ($Million), Growth (%) 2014-2022
4.4.7 LAMEA Automotive Steering System Market for Electro-Hydraulic Power Steering, ($Million), Growth (%) 2014-2022

CHAPTER 5 GLOBAL AUTOMOTIVE STEERING SYSTEM MARKET, BY VEHICLE TYPE

5.1 Introduction
5.2 Heavy Commercial Vehicle

5.2.1 Key Market Trends
5.2.2 Key Growth Factors and Opportunities
5.2.3 Market Size and Forecast
5.2.4 North America Automotive Steering System Market for Heavy Commercial Vehicle, ($Million), Growth (%) 2014-2022
5.2.5 Europe Automotive Steering System Market for Heavy Commercial Vehicle, ($Million), Growth (%) 2014-2022
5.2.6 Asia-Pacific Automotive Steering System Market for Heavy Commercial Vehicle, ($Million), Growth (%) 2014-2022
5.2.7 LAMEA Automotive Steering System Market for Heavy Commercial Vehicle, ($Million), Growth (%) 2014-2022

5.3 Light Commercial Vehicle

5.3.1 Key Market Trends
5.3.2 Key Growth Factors and Opportunities
5.3.3 Market Size and Forecast
5.3.4 North America Automotive Steering System Market for Light Commercial Vehicle, ($Million), Growth (%) 2014-2022
5.3.5 Europe Automotive Steering System Market for Light Commercial Vehicle, ($Million), Growth (%) 2014-2022
5.3.6 Asia-Pacific Automotive Steering System Market for Light Commercial Vehicle, ($Million), Growth (%) 2014-2022
5.3.7 LAMEA Automotive Steering System Market for Light Commercial Vehicle, ($Million), Growth (%) 2014-2022

5.4 Passenger Vehicles

5.4.1 Key Market Trends
5.4.2 Key Growth Factors and Opportunities
5.4.3 Market Size and Forecast
5.4.4 North America Automotive Steering System market for Passenger Vehicles, ($Million), Growth (%) 2014-2022
5.4.5 Europe Automotive Steering System market for Passenger Vehicles, ($Million), Growth (%) 2014-2022
5.4.6 Asia-Pacific Automotive Steering System market for Passenger Vehicles, ($Million), Growth (%) 2014-2022
5.4.7 LAMEA Automotive Steering System market for Passenger Vehicles, ($Million), Growth (%) 2014-2022

CHAPTER 6 GLOBAL AUTOMOTIVE STEERING SYSTEM MARKET, BY GEOGRAPHY

6.1 Introduction
6.2 North America

6.2.1 Key Market Trends
6.2.2 Key Growth Factors and Opportunities
6.2.3 Market Size and Forecast
6.2.4 U.S. Automotive Steering System Market, ($Million), Growth (%) 2014-2022
6.2.5 Canada Automotive Steering System Market, ($Million), Growth (%) 2014-2022
6.2.6 Mexico Automotive Steering System Market, ($Million), Growth (%) 2014-2022

6.3 Europe

6.3.1 Key Market Trends
6.3.2 Key Growth Factors and Opportunities
6.3.3 Market Size and Forecast
6.3.4 Germany Automotive Steering System Market, ($Million), Growth (%) 2014-2022
6.3.5 UK Automotive Steering System Market, ($Million), Growth (%) 2014-2022
6.3.6 Italy Automotive Steering System Market, ($Million), Growth (%) 2014-2022
6.3.7 France Automotive Steering System Market, ($Million), Growth (%) 2014-2022
6.3.8 Rest of Europe Automotive Steering System Market, ($Million), Growth (%) 2014-2022

6.4 Asia-Pacific

6.4.1 Key Market Trends
6.4.2 Key Growth Factors and Opportunities
6.4.3 Market Size and Forecast
6.4.4 China Automotive Steering System Market, ($Million), Growth (%) 2014-2022
6.4.5 India Automotive Steering System Market, ($Million), Growth (%) 2014-2022
6.4.6 South Korea Automotive Steering System Market, ($Million), Growth (%) 2014-2022
6.4.7 Japan Automotive Steering System Market, ($Million), Growth (%) 2014-2022
6.4.8 Rest of Asia-Pacific Automotive Steering System Market, ($Million), Growth (%) 2014-2022

6.5 LAMEA

6.5.1 Key Market Trends
6.5.2 Key Growth Factors and Opportunities
6.5.3 Market Size and Forecast
6.5.4 Latin America Automotive Steering System Market, ($Million), Growth (%) 2014-2022
6.5.5 Middle East Automotive Steering System Market, ($Million), Growth (%) 2014-2022
6.5.6 Africa Automotive Steering System Market, ($Million), Growth (%) 2014-2022
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FEATURED COMPANIES

  • Hyundai Mobis Co. Ltd.
  • Jtekt Corporation,
  • Mando Corporation,
  • Nexteer Automotive,
  • Thyssenkrupp Presta Ag,
  • Zf Friedrichshafen Ag,
  • MORE
A new report titled, Automotive Steering System Market by Steering System Type (Hydraulic Power Steering, Electronic Power Steering, and Electro-Hydraulic Power Steering System) and Vehicle Type (Heavy Commercial Vehicle, Light Commercial Vehicle and, Passenger Vehicle)-Global Opportunity Analysis and Industry Forecasts, 2014-2022, projects that the global automotive systems market is estimated to reach $41,190 million by 2022, growing at a CAGR of 6.2% from 2016 - 2022. APAC is expected to witness the highest growth rate, owing to the increase in demand for high-end passenger and commercial vehicles.

Consumer preference for comfortable driving experience and upsurge in demand for fuel-efficient vehicles are the major factors that drive the market. However, high cost associated with power steering system limits the implementation of such systems in low-cost vehicles. Advanced technologies such as drive-by-wire steering system, that use electrical cables to reduce the lag in steering system, are anticipated to witness increased demand, owing to increase in usage in the high-end vehicles.
The electronic power steering dominated the market with one-third of the total market share and is expected to maintain this trend during the forecast period, while the passenger vehicles segment accounted for about half of the market share in 2015. The electro-hydraulic power steering system would attract notable demand during the forecast period as it offers advantages such as accurate & fast response of steering system and compatibility with electric as well as hybrid vehicles.
Europe accounted for 34.8% of the global automotive steering system market size in 2015, followed by North America. The automotive steering system markets of U.S. and Germany are expected to offer lucrative growth opportunities in the coming years. Asia-Pacific is projected to exhibit the highest CAGR of 6.8% from 2016 to 2022 owing to the booming automotive industry.
Companies operating in the market have focused towards strengthening their geographical presence and production capabilities to gain competitive advantage. For instance, in April 2016, Nexteer Automotive, a global leader in intuitive motion control, announced the opening of its third manufacturing plant in Europe and the opening of its first technical Center in Tychy, Poland in mid-2016. The new plant would allow the company to expand Nexteers manufacturing capabilities of Electric Power Steering (EPS) systems for European customers, including BMW, General Motors, Fiat Chrysler Automobiles (FCA), and PSA Peugeot Citroen.
Country wise analysis is provided for all the regions covered in the report. Countries analyzed under North America are U.S., Canada, and Mexico. Under Europe, market size and forecast is provided for Italy, UK, Germany, France, and Rest of Europe. Countries covered in the Asia-Pacific region include China, India, South Korea, Japan, and Rest of Asia-Pacific. LAMEA includes Latin America, Middle East and Africa.

Key Findings of the Automotive Steering System Market:
Europe generated the maximum revenue in 2015 followed by North America.
In terms of the automotive steering system market by vehicle type, passenger vehicle segment accounted for the largest share in 2015.
In 2015, electronic power steering generated the largest revenue in terms of market by steering system type.
Asia-Pacific is anticipated to experience the highest growth during the forecast period due to increase in demand for passenger and commercial vehicles.
The key players profiled in the report are JTEKT Corporation, Nexteer Automotive, Mando Corporation, ThyssenKrupp Presta AG, Robert Bosch Automotive Steering GmbH, Showa Corporation, NSK Ltd, ZF Friedrichshafen AG, Sona Koyo Steering Systems Ltd, and Hyundai Mobis Co. Ltd.
Note: Product cover images may vary from those shown
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  • Jtekt Corporation,
  • Nexteer Automotive,
  • Mando Corporation,
  • Thyssenkrupp Presta Ag,
  • Robert Bosch Automotive Steering Gmbh,
  • Showa Corporation, Nsk Ltd,
  • Zf Friedrichshafen Ag,
  • Sona Koyo Steering Systems Ltd,
  • Hyundai Mobis Co. Ltd.
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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