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South America Automotive Steering System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type, and Vehicle Type

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    Report

  • May 2021
  • The Insight Partners
  • ID: 5331727
The automotive steering system market in SAM is expected to reach US$ 1,392.50 million by 2028 from US$ 1,010.63 million in 2020. The automotive industry has reacted to the demand to reduce emissions by accelerating the electrification of several typically mechanical systems. Anything from supercharging to power steering has been electrified to minimize emissions while also improving safety, simplifying operations, and providing a better driving experience. Electronic power steering (EPS) systems have many advantages over their hydraulic counterparts, including reduced weight, maintenance, and fuel consumption, as well as improved variable steering response at various speeds. Simultaneously, the simplicity of integrating features such as electronic stability control and self-parking is fueling their demand. Owing to the versatility of EPS, many manufacturers are working on integrating it with other smart systems already in use in advanced driver- assistance systems (ADAS) to increase vehicle safety and enhance the driving experience.

Based on type, the electronic power steering segment led the SAM automotive steering system market in 2020. Traditional steering systems, such as hydraulic and electro-hydraulic systems, are replaced by an electronic power steering (EPS) system. The global demand for electronic power steering systems is being fueled by the growing popularity of self-driving vehicles. Vehicles with electronic power steering have a lower total weight, as well as improved fuel efficiency. Due to the lack of belt-driven hydraulic or manual pumps, electric systems are extremely fuel-efficient, as they run continuously, with or without assistance. EPS can save up to 0.4 liters of gasoline per 100 kilometers, as well as reduce CO2 emissions by up to 7 grams per kilometer. End users have been urged to implement improved protection mechanisms as the number of injuries has increased dramatically. Automobile manufacturers are integrating many systems in vehicles that improve safety as a result of these factors.

Brazil has the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina, among others. The governments in SAM have taken an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that SAM will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe, and the US, which are important trade partners. Containment measures in several countries of SAM has impacted the manufacturing industry including automotive manufacturing adversely. Major automotive manufacturers have also temporarily closed their production process in the region to control costs due to the pandemic. For instance, on March 25, 2020, Toyota announced that production of the Corolla Cross, Yaris, and Corolla will be temporarily halted in Brazil due to uncontrolled spread of COVID-19 in the nation. Thus, the above-mentioned factors are expected to negatively impact the demand for automotive steering systems across the region.

The overall SAM automotive steering system market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the SAM automotive steering system market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the SAM automotive steering system market. Hitachi Automotive Systems Americas, Inc.; Hyundai Mobis; JTEKT Corporation; Nexteer Automotive; NSK Ltd.; Robert Bosch GmbH; Showa Corporation; The Mando Corporation; and ThyssenKrupp AG are among the key players operating in the SAM automotive steering system market.

Reasons to Buy
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the SAM Automotive Steering System market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the SAM Automotive Steering System market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth SAM market trends and outlook coupled with the factors driving the Automotive Steering System market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Table of Contents

1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 SAM Automotive Steering System Market - By Type
1.3.2 SAM Automotive Steering System Market - By Vehicle Type
1.3.3 SAM Automotive Steering System Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. SAM Automotive Steering System Market Landscape
4.1 Market Overview
4.2 SAM PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. SAM Automotive Steering System Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Stringent Fuel Efficiency Norms Driving Adoption of Advanced Automotive Steering Systems
5.1.2 Upsurge in Demand for Electrification in Vehicles
5.2 Market Restraints
5.2.1 Expensive Electronic Power Steering (EPS) System and Difficulties Associated with Its Maintenance
5.3 Market Opportunities
5.3.1 Incorporation of Technologically Advanced EPS Systems in Commercial Vehicles
5.4 Future Trends
5.4.1 Integration of EPS and Advanced Driver-Assistance Systems (ADAS)
5.5 Impact Analysis of Drivers and Restraints
6. Automotive Steering System Market - SAM Analysis
6.1 SAM Automotive Steering System Market Overview
6.2 SAM Automotive Steering System Market - SAM Revenue and Forecast to 2028 (US$ Million)
7. SAM Automotive Steering System Market Analysis - By Type
7.1 Overview
7.2 SAM Automotive Steering System Market Revenue Breakdown, By Type, 2020 and 2028
7.3 Electronic Power Steering
7.3.1 Overview
7.3.2 SAM Electronic Power Steering: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Hydraulic Power Steering
7.4.1 Overview
7.4.2 SAM Hydraulic Power Steering: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
7.5 Electro-Hydraulic Power Steering
7.5.1 Overview
7.5.2 Electro-Hydraulic Power Steering: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
8. SAM Automotive Steering System Market Analysis - By Vehicle Type
8.1 Overview
8.2 SAM Automotive Steering System Market Breakdown, By Vehicle Type, 2020 & 2028
8.3 Passenger cars
8.3.1 Overview
8.3.2 Passenger Cars: SAM Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
8.3.2.1 SAM Automotive Steering System Market, by Passenger Car Types- Revenue and Forecast to 2028 (US$ Mn)
8.4 Commercial Vehicles
8.4.1 Overview
8.4.2 Commercial Vehicles: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
8.4.2.1 SAM Automotive Steering System Market, by Commercial Vehicle Types- Revenue and Forecast to 2028 (US$ Mn)
9. SAM Automotive Steering System Market - Country Analysis
9.1 Overview
9.1.1 SAM: Automotive Steering System Market, by Key Country
9.1.1.1 Brazil: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Brazil: Automotive Steering System Market, by Type
9.1.1.1.2 Brazil: Automotive Steering System Market, by Vehicle Type
9.1.1.1.3 Brazil: Automotive Steering System Market, by Passenger Cars
9.1.1.1.4 Brazil: Automotive Steering System Market, by Commercial Vehicles
9.1.1.2 Argentina: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Argentina: Automotive Steering System Market, by Type
9.1.1.2.2 Argentina: Automotive Steering System Market, by Vehicle Type
9.1.1.2.3 Argentina: Automotive Steering System Market, by Passenger Cars
9.1.1.2.4 Argentina: Automotive Steering System Market, by Commercial Vehicles
9.1.1.3 Rest of SAM: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Rest of SAM: Automotive Steering System Market, by Type
9.1.1.3.2 Rest of SAM: Automotive Steering System Market, by Vehicle Type
9.1.1.3.3 Rest of SAM: Automotive Steering System Market, by Passenger Cars
9.1.1.3.4 Rest of SAM: Automotive Steering System Market, by Commercial Vehicles
10. SAM Automotive Steering System Market- COVID-19 Impact Analysis
10.1 Overview
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 China Automotive Systems, Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Nexteer Automotive
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Hitachi Automotive Systems Americas, Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Hyundai Mobis
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 JTEKT Corporation
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 The Mando Corporation
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 NSK Ltd.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Robert Bosch GmbH
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Showa Corporation
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 ThyssenKrupp AG
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About the Publisher
13.2 Word Index
List of Tables
Table 1. SAM Automotive Steering System Market - Revenue, and Forecast to 2028 (US$ Million)
Table 2. SAM Automotive Steering System Market, by Passenger Cars - Revenue and Forecast to 2028 (USD Million)
Table 3. SAM Automotive Steering System Market, by Commercial Vehicle Types - Revenue and Forecast to 2028 (USD Million)
Table 4. Brazil: Automotive Steering System Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 5. Brazil: Automotive Steering System Market, by Vehicle Type - Revenue and Forecast to 2028 (US$ Million)
Table 6. Brazil: Automotive Steering System Market, by Passenger Cars - Revenue and Forecast to 2028 (US$ Million)
Table 7. Brazil: Automotive Steering System Market, by Commercial Vehicles - Revenue and Forecast to 2028 (US$ Million)
Table 8. Argentina: Automotive Steering System Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 9. Argentina: Automotive Steering System Market, by Vehicle Type - Revenue and Forecast to 2028 (US$ Million)
Table 10. Argentina: Automotive Steering System Market, by Passenger Cars - Revenue and Forecast to 2028 (US$ Million)
Table 11. Argentina: Automotive Steering System Market, by Commercial Vehicles - Revenue and Forecast to 2028 (US$ Million)
Table 12. Rest of SAM: Automotive Steering System Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of SAM: Automotive Steering System Market, by Vehicle Type - Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of SAM: Automotive Steering System Market, by Passenger Cars - Revenue and Forecast to 2028 (US$ Million)
Table 15. Rest of SAM: Automotive Steering System Market, by Commercial Vehicles - Revenue and Forecast to 2028 (US$ Million)
Table 16. List of Abbreviation
List of Figures
Figure 1. SAM Automotive Steering System Market Segmentation
Figure 2. SAM Automotive Steering System Market Segmentation - By Country
Figure 3. SAM Automotive Steering System Market Overview
Figure 4. Electronic Power Steering Segment Held the Largest Market Share in 2020
Figure 5. Commercial Vehicles Segment Held the Largest Market Share in 2020
Figure 6. Brazil was the Largest Revenue Contributor in 2020
Figure 7. SAM PEST Analysis
Figure 8. Expert Opinions
Figure 9. SAM Automotive Steering System Market Impact Analysis of Drivers and Restraints
Figure 10. SAM Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 11. SAM Automotive Steering System Market Revenue Breakdown, By Type, 2020 & 2028 (%)
Figure 12. SAM Electronic Power Steering: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 13. SAM Hydraulic Power Steering: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 14. SAM Electro-Hydraulic Power Steering: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 15. SAM Automotive Steering System Market Breakdown, By Vehicle Type, 2020 & 2028 (%)
Figure 16. SAM Passenger Cars: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 17. SAM Commercial Vehicles: SAM Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 18. SAM: Automotive Steering System Market Revenue Share, By Key Country-Revenue 2020 (US$ Million)
Figure 19. SAM: Automotive Steering System Market Revenue Share, By Key Country (2020& 2028)
Figure 20. Brazil: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 21. Argentina: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 22. Rest of SAM: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 23. Impact of COVID-19 Pandemic in SAM Country Markets

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Hitachi Automotive Systems Americas, Inc.
  • Hyundai Mobis
  • JTEKT Corporation
  • Nexteer Automotive
  • NSK Ltd.
  • Robert Bosch GmbH
  • Showa Corporation
  • The Mando Corporation
  • ThyssenKrupp AG