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Middle East and Africa 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
  • Region: Africa, Middle East
  • The Insight Partners
  • ID: 5331824
The automotive steering system market in the MEA is expected to reach US$ 805.86 million by 2028 from US$ 652.97 million in 2020. The market is estimated to grow at a CAGR of 2.9% from 2021 to 2028. Electronic power steering (EPS) is mainly used in passenger cars and light commercial vehicles, with a small presence in heavy vehicles. With technological advances, EPS systems can carry more weight, and they can be used in commercial vehicles. Due to their higher load-bearing capability than EPS systems, hydraulic power steering (HPS) systems currently dominate the commercial vehicle market. HPS systems use the engine's control, reducing fuel efficiency.

The EPS system is more fuel-efficient and reliable than HPS systems because it draws power from the tank. Increased load-bearing ability will allow this technology to be used in commercial vehicles as well. In the coming years, such advances are expected to generate lucrative opportunities for EPS systems in the commercial vehicles segment for the automotive steering system market. The increase in integration of EPS and advanced driver-assistance systems (ADAS) is among the other factors expected to positively influence the demand for automotive steering system markets.

The commercial vehicles segment led the MEA automotive steering system market based on vehicle type in 2020. Small commercial vehicles, heavy trucks, coaches, and buses are examples of commercial vehicles (except for some countries in which the buses or heavy trucks data are not available). The commercial vehicle segment is further segmented into light commercial vehicles, medium commercial vehicles, and heavy commercial vehicles. Light commercial vehicles (LCVs) are cars with at least four wheels that are used to move goods. Thus, the rising demand for commercial vehicles is expected to contribute to the growth of the automotive steering systems over the years.

South Africa is also highly impacted by the COVID-19 pandemic; however, the country has managed to reduce the average daily increase of COVID-19 cases from 23.2% prior to the lockdown to 7% during the lockdown. South Africa has the largest COVID-19 cases in the Middle East & Africa region, followed by Iran, among others. All industries across the region had come to a halt with the initial spread of the virus, and with the gradual reopening of the lockdown guidelines, industries are implementing and working on the changes needed to meet the customer's distinct demands. In April, the number of pre-owned online car listings in the UAE dropped by nearly half. The automotive industry waits for the situation to return to normalcy and other industries to restart their work processes, with factories unable to resume operations and low requirements. Thus, the above-mentioned factors are expected to negatively impact the growth of the automotive steering system market in the region.

The overall MEA 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 overview and forecast for the MEA 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 MEA automotive steering system market. Nexteer Automotive, JTEKT Corporation, The Mando Corporation, NSK Ltd., Robert Bosch GmbH, and ThyssenKrupp AG are among the key players operating in the MEA 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 MEA 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 MEA 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 MEA market trends and outlook coupled with the factors driving the MEA 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 MEA Automotive Steering System Market - By Type
1.3.2 Automotive Steering System Market - By Vehicle Type
1.3.3 MEA Automotive Steering System Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. MEA Automotive Steering System Market Landscape
4.1 Market Overview
4.2 MEA PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. MEA 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 Increased Trend for Electrification in Vehicles
5.2 Market Restraints
5.3 Market Opportunities
5.3.1 Amalgamation of Technologically Advanced EPS Systems in Commercial Vehicles
5.4 Future Trends
5.4.1 Growth in Integration of EPS and Advanced Driver-Assistance Systems (ADAS)
5.5 Impact Analysis of Drivers and Restraints
6. Automotive Steering System Market -MEA Analysis
6.1 MEA Automotive Steering System Market Overview
6.2 MEA Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
7. MEA Automotive Steering System Market Analysis - By Type
7.1 Overview
7.2 MEA Automotive Steering System Market Revenue Breakdown, By Type, 2020 and 2028
7.3 Electronic Power Steering
7.3.1 Overview
7.3.2 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 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. MEA Automotive Steering System Market Analysis - By Vehicle Type
8.1 Overview
8.2 MEA Automotive Steering System Market Breakdown, By Vehicle Type, 2020 & 2028
8.3 Passenger cars
8.3.1 Overview
8.3.2 Passenger Cars: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
8.3.2.1 MEA 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 MEA Automotive Steering System Market, by Commercial Vehicle Types- Revenue and Forecast to 2028 (US$ Mn)
9. MEA Automotive Steering System Market - Country Analysis
9.1 Overview
9.1.1 MEA: Automotive Steering System Market, by Key Country
9.1.1.1 South Africa: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 South Africa: Automotive Steering System Market, by Type
9.1.1.1.2 South Africa: Automotive Steering System Market, by Vehicle Type
9.1.1.1.3 South Africa: Automotive Steering System Market, by Passenger Cars
9.1.1.1.4 South Africa: Automotive Steering System Market, by Commercial Vehicles
9.1.1.2 Rest of MEA: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Rest of MEA: Automotive Steering System Market, by Type
9.1.1.2.2 Rest of MEA: Automotive Steering System Market, by Vehicle Type
9.1.1.2.3 Rest of MEA: Automotive Steering System Market, by Passenger Cars
9.1.1.2.4 Rest of MEA: Automotive Steering System Market, by Commercial Vehicles
10. MEA 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. MEA Automotive Steering System Market - Revenue, and Forecast to 2028 (US$ Million)
Table 2. Automotive Steering System Market, by Passenger Cars - Revenue and Forecast to 2028 (USD Million)
Table 3. Automotive Steering System Market, by Commercial Vehicle Types - Revenue and Forecast to 2028 (USD Million)
Table 4. South Africa: Automotive Steering System Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 5. South Africa: Automotive Steering System Market, by Vehicle Type - Revenue and Forecast to 2028 (US$ Million)
Table 6. South Africa: Automotive Steering System Market, by Passenger Cars - Revenue and Forecast to 2028 (US$ Million)
Table 7. South Africa: Automotive Steering System Market, by Commercial Vehicles - Revenue and Forecast to 2028 (US$ Million)
Table 8. Rest of MEA: Automotive Steering System Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 9. Rest of MEA: Automotive Steering System Market, by Vehicle Type - Revenue and Forecast to 2028 (US$ Million)
Table 10. Rest of MEA: Automotive Steering System Market, by Passenger Cars - Revenue and Forecast to 2028 (US$ Million)
Table 11. Rest of MEA: Automotive Steering System Market, by Commercial Vehicles - Revenue and Forecast to 2028 (US$ Million)
Table 12. List of Abbreviation
List of Figures
Figure 1. MEA Automotive Steering System Market Segmentation
Figure 2. MEA Automotive Steering System Market Segmentation - By Country
Figure 3. MEA Automotive Steering System Market Overview
Figure 4. Electronic Power Steering Segment Held the Largest Market Share in 2020
Figure 5. Passenger Cars Segment Held the Largest Market Share in 2020
Figure 6. Rest of MEA was the Largest Revenue Contributor in 2020
Figure 7. MEA - PEST Analysis
Figure 8. Expert Opinions
Figure 9. MEA Automotive Steering System Market Impact Analysis of Drivers and Restraints
Figure 10. MEA Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 11. MEA Automotive Steering System Market Revenue Breakdown, By Type, 2020 & 2028 (%)
Figure 12. MEA Electronic Power Steering: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 13. MEA Hydraulic Power Steering: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 14. MEA Electro-Hydraulic Power Steering: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 15. MEA Automotive Steering System Market Breakdown, By Vehicle Type, 2020 & 2028 (%)
Figure 16. MEA Passenger Cars: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 17. MEA Commercial Vehicles: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Mn)
Figure 18. MEA: Automotive Steering System Market Revenue Share, By Key Country- Revenue 2020 (US$ Million)
Figure 19. MEA: Automotive Steering System Market Revenue Share, By Key Country (2020&2028)
Figure 20. South Africa: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 21. Rest of MEA: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 22. Impact of COVID-19 Pandemic in MEA Country Markets

Companies Mentioned (Partial List)

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

  • JTEKT Corporation
  • Nexteer Automotive
  • NSK Ltd.
  • Robert Bosch GmbH
  • The Mando Corporation
  • ThyssenKrupp AGAGSE LLC

Table Information