Global Automotive Steering System Market 2021-2028

The global automotive steering system market is expected to develop with a CAGR of 5.01% during the forecast years from 2021 to 2028.

The stringent fuel efficiency norms are primarily driving the demand for automotive steering systems. Also, a growing demand for more functions in electronic control units is being observed. These factors are propelling the growth of the global market.

On the contrary, the high cost of automotive and the autonomous features in cars are hindering this growth process. However, the increase in automotive production and the growing adoption of electric vehicles indicate an overall positive outlook for the automotive steering system market.

Regional Outlook
Latin America, the Middle East and Africa, the Asia-Pacific, Europe, and North America together shape the global market for automotive steering systems.

The market in the Asia-Pacific is set to exhibit the fastest growth worldwide in the coming period. Factors such as the presence of a number of market leaders who are increasingly investing heavy sums in electric mobility services are the key factors driving the growth in this market. Additionally, the vast capacity expansion in India and China, increasing per capita income, and the development of the road network are further aiding the automotive steering system market growth in the APAC.

Competitive Outlook

Some of the major players engaged in the automotive steering system market include Hyundai Mobis, Robert Bosch GmbH, Hitachi Astemo Ltd, China Automotive Systems Inc, NSK Ltd, ZF Friedrichshafen AG, Nexteer Automotive Corporation, JTEKT Corporation, Denso Corporation, Thyssenkrupp AG, Mitsubishi Electric Corporation, Honda Motor Company, and Mando Corporation.

JTEKT Corporation manufactures and sells automotive components, bearings, sensors, and machine tools & mechatronics. It offers automotive components such as steering systems, wheels, drivelines, and engine & peripheral parts. The products available in steering systems include hydraulic power steering, electronic power steering, and several unit components.

Further, in electronic power steering, the company offers pinion type electronic power steering, column type electronic power steering, rack direct drive type electronic power steering, electric pump type hydraulic power steering, and dual pinion type electronic power steering. JTEKT Corporation has a business presence in North America, the Asia-Pacific, Europe, the Middle East and Africa, and Latin America.

Frequently Asked Questions about the Global Automotive Steering System Market

What is the estimated value of the Global Automotive Steering System Market?

The Global Automotive Steering System Market was estimated to be valued at $39495.45 Billion in 2021.

What is the growth rate of the Global Automotive Steering System Market?

The growth rate of the Global Automotive Steering System Market is 5.3%, with an estimated value of $56619.69 Billion by 2028.

What is the forecasted size of the Global Automotive Steering System Market?

The Global Automotive Steering System Market is estimated to be worth $56619.69 Billion by 2028.

Who are the key companies in the Global Automotive Steering System Market?

Key companies in the Global Automotive Steering System Market include China Automotive Systems Inc, Denso Corporation, Hitachi Astemo Ltd, Honda Motor Company, Hyundai Mobis, Jtekt Corporation, Mando Corporation, Mitsubishi Electric Corporation and Nsk Ltd.

Report Attribute	Details
No. of Pages	202
Published	November 2021
Forecast Period	2021 - 2028
Estimated Market Value ( USD ) in 2021	$ 39495.45 Billion
Forecasted Market Value ( USD ) by 2028	$ 56619.69 Billion
Compound Annual Growth Rate	5.3%
Regions Covered	Global

1. Global Automotive Steering System Market - Summary

2. Industry Outlook

2.1. Impact Of Covid-19 On the Automotive Steering System Industry
2.2. Key Insights
2.2.1. Adoption Of Sensors
2.2.2. Adas (Advanced Driver Assistance Systems) Adoption In Automotive
2.2.3. Usage Of Technologically Advanced Eps
2.3. Porter’s Five Forces Analysis
2.3.1. Threat Of New Entrants
2.3.2. Threat Of Substitute
2.3.3. Bargaining Power Of Buyers
2.3.4. Bargaining Power Of Suppliers
2.3.5. Threat Of Competitive Rivalry
2.4. Market Attractiveness Index
2.5. Vendor Scorecard
2.6. Key Impact Analysis
2.6.1. Fuel Consumption
2.6.2. Co2 Emission
2.6.3. Maintenance
2.7. Key Market Strategies
2.7.1. Product Launches
2.7.2. Contracts & Partnerships
2.7.3. Business Expansions & Divestitures
2.8. Market Drivers
2.8.1. Growing Demand For More Functions In Electronic Control Unit (Ecu)
2.8.2. Stringent Fuel Efficiency Norms
2.9. Market Challenges
2.9.1. High Cost Of Automotive
2.9.2. Autonomous Features In Cars
2.10. Market Opportunities
2.10.1. Positive Outlook For Automotive Production
2.10.2. Growing Number Of Electric Vehicles

3. Global Automotive Steering System Market Outlook - by Vehicle Type

3.1. Ice-Driven
3.2. Electric Vehicles
3.2.1. PHEV (Plug-In Hybrid Electric Vehicle)
3.2.2. BEV (Battery Electric Vehicle)
3.2.3. FCEV (Fuel Cell Electric Vehicle)
3.2.4. HEV (Hybrid Electric Vehicle)

4. Global Automotive Steering System Market Outlook - by Type

4.1. Electric Steering System
4.1.1. Electric Power Steering System by Type
4.1.1.1. Column-Assist Type (C-Eps)
4.1.1.2. Pinion-Assist Type (P-Eps)
4.1.1.3. Direct Drive Type (D-Eps)
4.1.1.4. Rack-Assist Type (R-Eps)
4.1.2. Electric Power Steering System by Components
4.1.2.1. Steering Rack/Column
4.1.2.2. Sensor
4.1.2.3. Steering Motor
4.1.2.4. Other Component Types
4.2. Hydraulic Steering System
4.3. Electro-Hydraulic
4.4. Steer by Wire

5. Global Automotive Steering System Market - Regional Outlook

5.1. North America
5.1.1. Market by Type
5.1.2. Market by Eps Type
5.1.3. Market by Eps Components
5.1.4. Country Analysis
5.1.4.1. United States
5.1.4.2. Canada
5.2. Europe
5.2.1. Market by Type
5.2.2. Market by Eps Type
5.2.3. Market by Eps Components
5.2.4. Country Analysis
5.2.4.1. United Kingdom
5.2.4.2. Germany
5.2.4.3. France
5.2.4.4. Spain
5.2.4.5. Italy
5.2.4.6. Russia
5.2.4.7. Rest Of Europe
5.3. Asia-Pacific
5.3.1. Market by Type
5.3.2. Market by Eps Type
5.3.3. Market by Eps Components
5.3.4. Country Analysis
5.3.4.1. China
5.3.4.2. Japan
5.3.4.3. India
5.3.4.4. South Korea
5.3.4.5. Asean Countries
5.3.4.6. Rest Of Asia-Pacific
5.4. Latin America
5.4.1. Market by Type
5.4.2. Market by Eps Type
5.4.3. Market by Eps Components
5.4.4. Country Analysis
5.4.4.1. Brazil
5.4.4.2. Mexico
5.4.4.3. Rest Of Latin America
5.5. Middle East and Africa
5.5.1. Market by Type
5.5.2. Market by Eps Type
5.5.3. Market by Eps Components
5.5.4. Country Analysis
5.5.4.1. Turkey
5.5.4.2. South Africa
5.5.4.3. Morocco
5.5.4.4. Rest Of Middle East & Africa

6. Competitive landscape

6.1. China Automotive Systems Inc
6.2. Denso Corporation
6.3. Hitachi Astemo Ltd
6.4. Honda Motor Company
6.5. Hyundai Mobis
6.6. Jtekt Corporation
6.7. Mand o Corporation
6.8. Mitsubishi Electric Corporation
6.9. Nexteer Automotive Corporation
6.10. Nsk Ltd
6.11. Robert Bosch Gmbh
6.12. Thyssenkrupp Ag
6.13. Zf Friedrichshafen Ag

7. Research Methodology & Scope

7.1. Research Scope & Deliverables
7.2. Sources Of Data
7.3. Research Methodology

List of Tables

Table 1: Global Automotive Steering System Market, by Geography, 2021-2028 (In $ Million)
Table 2: Vendor Scorecard
Table 3: Global Automotive Steering System Market, by Vehicle Type, 2021-2028 (In $ Million)
Table 4: Global Automotive Steering System Market, by Electric Vehicles, 2021-2028 (In $ Million)
Table 5: Global Automotive Steering System Market, by Type, 2021-2028 (In $ Million)
Table 6: Global Automotive Steering System Market, by Geography, 2021-2028 (In $ Million)
Table 7: North America Automotive Steering System Market, by Country, 2021-2028 (In $ Million)
Table 8: North America Automotive Steering System Market, by Type, 2021-2028 (In $ Million)
Table 9: North America Electric Power Steering System Market, by Type, 2021-2028 (In $ Million)
Table 10: North America Electric Power Steering System Market, by Components, 2021-2028 (In $ Million)
Table 11: Europe Automotive Steering System Market, by Country, 2021-2028 (In $ Million)
Table 12: Europe Automotive Steering System Market, by Type, 2021-2028 (In $ Million)
Table 13: Europe Electric Power Steering System Market, by Type, 2021-2028 (In $ Million)
Table 14: Europe Electric Power Steering System Market, by Components, 2021-2028 (In $ Million)
Table 15: Asia-Pacific Automotive Steering System Market, by Country, 2021-2028 (In $ Million)
Table 16: Asia-Pacific Automotive Steering System Market, by Type, 2021-2028 (In $ Million)
Table 17: Asia-Pacific Electric Power Steering System Market, by Type, 2021-2028 (In $ Million)
Table 18: Asia-Pacific Electric Power Steering System Market, by Components, 2021-2028 (In $ Million)
Table 19: Latin America Automotive Steering System Market, by Country, 2021-2028 (In $ Million)
Table 20: Latin America Automotive Steering System Market, by Type, 2021-2028 (In $ Million)
Table 21: Latin America Electric Power Steering System Market, by Type, 2021-2028 (In $ Million)
Table 22: Latin America Electric Power Steering System Market, by Components, 2021-2028 (In $ Million)
Table 23: Middle East and Africa Automotive Steering System Market, by Country, 2021-2028 (In $ Million)
Table 24: Middle East and Africa Automotive Steering System Market, by Type, 2021-2028 (In $ Million)
Table 25: Middle East and Africa Electric Power Steering System Market, by Type, 2021-2028 (In $ Million)
Table 26: Middle East and Africa Electric Power Steering System Market, by Components, 2021-2028 (In $ Million)

List of Figures

Figure 1: Market Attractiveness Index
Figure 2: Key Impact Analysis
Figure 3: Production Of Automobiles (2016-2020)
Figure 4: Global Automotive Steering System Market, by Vehicle Type, 2020 & 2028 (In %)
Figure 5: Global Automotive Steering System Market, by Ice-Driven, 2021-2028 (In $ Million)
Figure 6: Global Automotive Steering System Market, by Electric Vehicles, 2021-2028 (In $ Million)
Figure 7: Global Automotive Steering System Market, by Electric Vehicles, 2020 & 2028 (In %)
Figure 8: Global Automotive Steering System Market, by PHEV (Plug-In Hybrid Electric Vehicle), 2021-2028 (In $ Million)
Figure 9: Global Automotive Steering System Market, by BEV (Battery Electric Vehicle), 2021-2028 (In $ Million)
Figure 10: Global Automotive Steering System Market, by FCEV (Fuel Cell Electric Vehicle), 2021-2028 (In $ Million)
Figure 11: Global Automotive Steering System Market, by HEV (Hybrid Electric Vehicle), 2021-2028 (In $ Million)
Figure 12: Global Automotive Steering System Market, by Type, 2020 & 2028 (In %)
Figure 13: Global Automotive Steering System Market, by Electric Steering System, 2021-2028 (In $ Million)
Figure 14: Global Automotive Steering System Market, by Column-Assist Type (C-Eps), 2021-2028 (In $ Million)
Figure 15: Global Automotive Steering System Market, by Pinion-Assist Type (C-Eps), 2021-2028 (In $ Million)
Figure 16: Global Automotive Steering System Market, by Direct Drive Type (D-Eps), 2021-2028 (In $ Million)
Figure 17: Global Automotive Steering System Market, by Rack-Assist Type (R-Eps), 2021-2028 (In $ Million)
Figure 18: Global Automotive Steering System Market, by Steering Rack/Column, 2021-2028 (In $ Million)
Figure 19: Global Automotive Steering System Market, by Sensor, 2021-2028 (In $ Million)
Figure 20: Global Automotive Steering System Market, by Steering Motor, 2021-2028 (In $ Million)
Figure 21: Global Automotive Steering System Market, by Other Component Types, 2021-2028 (In $ Million)
Figure 22: Global Automotive Steering System Market, by Hydraulic Steering System, 2021-2028 (In $ Million)
Figure 23: Global Automotive Steering System Market, by Electro-Hydraulic, 2021-2028 (In $ Million)
Figure 24: Global Automotive Steering System Market, by Steer by Wire, 2021-2028 (In $ Million)
Figure 25: Global Automotive Steering System Market, Regional Outlook, 2020 & 2028 (In %)
Figure 26: United States Automotive Steering System Market 2021-2028 (In $ Million)
Figure 27: Canada Automotive Steering System Market 2021-2028 (In $ Million)
Figure 28: United Kingdom Automotive Steering System Market 2021-2028 (In $ Million)
Figure 29: Germany Automotive Steering System Market 2021-2028 (In $ Million)
Figure 30: France Automotive Steering System Market 2021-2028 (In $ Million)
Figure 31: Spain Automotive Steering System Market 2021-2028 (In $ Million)
Figure 32: Italy Automotive Steering System Market 2021-2028 (In $ Million)
Figure 33: Russia Automotive Steering System Market 2021-2028 (In $ Million)
Figure 34: Rest Of Europe Automotive Steering System Market 2021-2028 (In $ Million)
Figure 35: China Automotive Steering System Market 2021-2028 (In $ Million)
Figure 36: Japan Automotive Steering System Market 2021-2028 (In $ Million)
Figure 37: India Automotive Steering System Market 2021-2028 (In $ Million)
Figure 38: South Korea Automotive Steering System Market 2021-2028 (In $ Million)
Figure 39: Asean Countries Automotive Steering System Market 2021-2028 (In $ Million)
Figure 40: Rest Of Asia-Pacific Automotive Steering System Market 2021-2028 (In $ Million)
Figure 41: Brazil Automotive Steering System Market 2021-2028 (In $ Million)
Figure 42: Mexico Automotive Steering System Market 2021-2028 (In $ Million)
Figure 43: Rest Of Latin America Automotive Steering System Market 2021-2028 (In $ Million)
Figure 44: Turkey Automotive Steering System Market 2021-2028 (In $ Million)
Figure 45: South Africa Automotive Steering System Market 2021-2028 (In $ Million)
Figure 46: Morocco Automotive Steering System Market 2021-2028 (In $ Million)
Figure 47: Rest Of Middle East & Africa Automotive Steering System Market 2021-2028 (In $ Million)