Global Automotive Steering System Market (2020 to 2025) - Adoption of Steer-By-Wire Technology Presents Opportunities

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Apr 07, 2021, 07:45 ET

DUBLIN, April 7, 2021 /PRNewswire/ -- The "Automotive Steering System Market by Technology (HPS, EHPS, EPS), EPS Type (R-EPS, C-EPS, P-EPS), Pinion Type (Single, Dual), Mechanism (Collapsible, Rigid), Components (OE & Aftermarket), Vehicle Type and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The automotive steering system market is projected to reach USD 36.9 billion by 2025 from USD 29.3 billion in 2020, at a CAGR of 4.7% from 2020 to 2025.

With progression in time, the COVID-19 impact has severely disrupted the supply chain for the entire automotive ecosystem. This has halted production facilities across the globe resulting in disruption in the exports of the automotive components. This scenario is expected to affect the automotive steering system market, as the growth of the market is directly related to the production of the vehicles. The global production of vehicles pre-COVID-19 was expected to reach from 90-95 million units in 2020 to 110-115 million units by 2025. According to OICA, though global vehicle production declined by 5.2% between 2018-2019, the production outlook was supposed to showcase significant growth from 2021-2022 owing to multiple steps taken by OEMs, as well as some governments, to attract customers.

Collapsible EPS is the fastest growing market, by Mechanism

The steering column consists of a collapsible housing containing a collapsible rotating shaft. As a safety measure, the steering column is designed to collapse in the event of a front-end collision. As global auto OEMs continue expanding into growing and emerging markets, the demand for collapsible steering columns is expected to increase. The market for collapsible steering column systems has been growing rapidly over the past few years due to the rising sales of passenger cars, expansion of global players in developing economies, and technological advances.

Asia Oceania is estimated to be the fastest growing market for automotive steering system market

The regional growth can be attributed to higher production of vehicles in countries such as China, Japan, and India. Governments across the Asia Oceania region have formulated stringent safety and emission norms that are expected to increase the installation of electric power steering. Moreover, features such as lane-keep assist, automated parking, lane changes, and the ability to guide vehicles around obstacles all make EPS an ideal choice. The strong presence of automotive steering manufacturers, such as JTEKT Corporation, NSK Ltd., Showa Corporation, and Hyundai Mobis in countries such as China, Japan, and South Korea, is expected to further drive the growth of the automotive steering system market in Asia Oceania in the coming years. These features will require more electronic installations, which, in turn, is expected to drive the automotive steering system market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary
3.1 Pre- & Post-COVID-19 Scenario
3.2 Report Summary

4 Premium Insights
4.1 Attractive Opportunities in Automotive Steering System Market
4.2 Automotive Steering System Market, by Component
4.3 Automotive Steering System Market, by Technology
4.4 Automotive Steering System Market, by Vehicle Type
4.5 Electric Power Steering Market, by Type
4.6 Automotive Steering System Aftermarket, by Component
4.7 Electric Power Steering System Market, by Mechanism
4.8 Electric Power Steering System Market, by Pinion Type

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Stringent Fuel Efficiency Norms to Drive Demand for Electrically Assisted Steering Systems
5.2.1.2 Increasing Consumer Preference for Driving Comfort and Technologically Advanced Vehicles
5.2.2 Restraints
5.2.2.1 Limited Load-Bearing Capacity of Eps Systems
5.2.2.2 High Cost of Assisted Power Steering Systems
5.2.3 Opportunities
5.2.3.1 Use of Eps Systems in Commercial Vehicles
5.2.3.2 Adoption of Steer-By-Wire Technology
5.2.4 Challenges
5.2.4.1 Failure of Eps System Subcomponents
5.3 Automotive Steering System Market Scenario
5.3.1 Most Likely Scenario
5.3.2 Low-Impact Scenario
5.3.3 High-Impact Scenario
5.4 Porter's Five Forces Analysis
5.4.1 Threat of Substitutes
5.4.2 Threat of New Entrants
5.4.3 Bargaining Power of Buyers
5.4.4 Bargaining Power of Suppliers
5.4.5 Rivalry Among Existing Competitors
5.4.6 Porter's Five Forces Analysis
5.5 Value Chain: Automotive Steering System Market
5.6 Supply Chain Analysis
5.6.1 Automotive Steering System Market: Supply Chain
5.7 Average Selling Price Trend
5.7.1 Average Regional Price Trend: Automotive Electric Power Steering System (USD/Unit), 2020
5.7.2 Average Global Price Trend: Automotive Steering Type System (USD/Unit), 2020
5.8 Patent Analysis
5.8.1 Applications and Patents Granted, 2017-2019
5.9 Revenue Shift for Automotive Steering Manufacturers
5.10 Case Study Analysis
5.10.1 Future-Proofing a Vehicle Steering System
5.10.2 Predict In-Vehicle E-Power Steering Sound & Vibration Performance
5.11 Trade Analysis
5.11.1 Import and Export Data for Steering Wheels, Steering Columns, and Steering Boxes, by Country, 2019 (USD)

6 Automotive Steering System Market, by Component
6.1 Introduction
6.1.1 Research Methodology
6.1.2 Assumptions
6.1.3 Industry Insights
6.2 Hydraulic Pump
6.3 Steering Column
6.4 Steering Wheel Speed Sensor
6.5 Electric Motor

7 Automotive Steering System Market, by Technology
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions
7.1.3 Industry Insights
7.2 Hydraulic Power Steering (Hps)
7.3 Electrically Assisted Hydraulic Power Steering (Ehps)
7.4 Electric Power Steering (Eps)

8 Electric Power Steering Market, by Type
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions
8.1.3 Industry Insights
8.2 Column-Eps (C-Eps)
8.3 Pinion-Eps (P-Eps)
8.4 Rack-Eps (R-Eps)

9 Automotive Steering System Market, by Vehicle Type
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Industry Insights
9.1.3 Assumptions
9.2 Passenger Car
9.3 Light Commercial Vehicle
9.4 Heavy Commercial Vehicle

10 Electric Power Steering System Market, by Pinion Type
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions
10.1.3 Industry Insights
10.2 Single Pinion
10.3 Dual Pinion

11 Automotive Steering System Aftermarket, by Component
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions
11.1.3 Industry Insights
11.2 Hydraulic Pump
11.3 Steering Column
11.4 Electric Motor

12 Electric Power Steering System Market, by Mechanism
12.1 Introduction
12.1.1 Research Methodology
12.1.2 Assumptions
12.1.3 Industry Insights
12.2 Collapsible Eps
12.3 Rigid Eps

13 Recommendations by the Publisher
13.1 Asia Oceania Will be Key Market for Electric Power Steering System Market
13.2 Electrically Assisted Power Steering for Heavy Commercial Vehicles - Key Focus Areas
13.3 Conclusion

14 Automotive Steering System Market, by Region
14.1 Introduction
14.2 Asia Oceania
14.3 Europe
14.4 North America
14.5 Rest of the World
14.5.1 Brazil

15 Competitive Landscape
15.1 Market Evolution Framework
15.2 Overview
15.3 Automotive Steering System Market Share Analysis, 2019
15.4 Market Evaluation Framework: Revenue Analysis of Top Listed/Public Players
15.5 Company Evaluation Quadrant
15.5.1 Stars
15.5.2 Emerging Leaders
15.5.3 Pervasive
15.5.4 Participants
15.6 Competitive Scenario
15.6.1 New Product Launches
15.6.2 Deals
15.6.3 Expansions, 2017-2020
15.7 Key Player Strategies/Right to Win, 2018-2020

16 Company Profiles
16.1 Key Players
16.1.1 Nexteer Automotive Group Limited
16.1.2 Jtekt Corporation
16.1.3 Robert Bosch Gmbh
16.1.4 Nsk Ltd.
16.1.5 ZF Friedrichshafen Ag
16.1.6 Thyssenkrupp Ag
16.1.7 Hyundai Mobis Co. Ltd.
16.1.8 Showa Corporation
16.1.9 China Automotive Systems Inc.
16.1.10 Mando Corporation
16.2 Other Players
16.2.1 Maval Industries
16.2.2 MVO Gmbh
16.2.3 Gss Steering Systems LLC
16.2.4 Pailton Engineering
16.2.5 Rollax GmbH & Co. Kg
16.2.6 Huayu Automotive Systems Company Limited
16.2.7 Denso Corporation

17 Appendix
17.1 Insights of Industry Experts
17.2 Discussion Guide
17.3 Knowledge Store: Subscription Portal
17.4 Available Customizations
17.5 Related Reports
17.6 Author Details

For more information about this report visit https://www.researchandmarkets.com/r/kbmk97

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