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Automotive Steering System Market

Market Insights on Automotive Steering System covering sales outlook, demand forecast & up-to-date key trends

Automotive Steering System Market by Vehicle Type, Technology & Region - Forecast 2022 - 2030

Automotive Steering System Market (2022-2030)

A Summary of Automotive Steering System Market Developments:

[240 Pages Report] Global demand for automotive steering system market is expected to register a CAGR of 4.6% by garnering a market value of US$ 33.3 Billion by 2030. The growth of the market can be attributed to

Attribute

Details

Automotive Steering System Market Estimated Size 2022

US$ 23.2 Bn 

Automotive Steering System Market Value-based CAGR (2022-2030)

~ 4.6%

Automotive Steering System Market Size in Projected 2030

US$ 33.3 Bn

  • Increasing demand for fuel-efficient cars along with the urgent need for a comfortable driving experience is playing a key role in the growth of automotive steering system market.
  • Growth in demand for passenger and commercial vehicles is another key factor contributing to automotive steering systems market.
  • Product innovation in the interior designing of cars along with the installation of electronic appliances is creating lucrative opportunities for automotive steering systems.

During the COVID-19 pandemic, the demand and sales of automotive steering systems observed a sluggish growth owing to the non-functioning of the automotive industry. In addition, the reduced production rates at manufacturing units affected the growth of automotive steering systems. On the other hand, the commercialization of electric cars is creating opportunities for automotive steering systems.

Ongoing technological advancements in the field of electric vehicles is changing the dynamics of automotive steering systems. in addition, governmental authorities are offering incentives, subsidies, and tax credits to customers. This, in turn, is creating lucrative opportunities for car manufacturers to invest in automotive steering systems. Moreover, the inclination towards investing in electric vehicles for pollution control and cheaper electricity rates is driving the growth of automotive steering systems.

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Increasing Production Capacity of Electric Vehicles and Demand for Passenger Vehicles Favoring Automotive Steering Market Growth

Production and launches of electric cars are fairly new in certain countries in the Asia Pacific region. For instance, local and international players are planning to launch manufacturing units of electric vehicles. In addition, the region is home to leading vehicle production hubs such as China and Japan. Furthermore, the growth of the market can be credited to a sizable population, increase in per capita income, and improving living standards.

Fuel-efficient vehicles and comfort features have become a favorite for consumers in the Asia Pacific region. The installation of electric power steering (EPS) is expected to accelerate over hydraulic power steering, especially in the passenger car segment. This, in turn, is favoring the growth of automotive steering systems market. Thus, the East Asia automotive steering system market is likely to account for about 42.3% of the total market share in 2022, finds FMI.

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Opportunities for Automotive Steering Systems Market

The popularity of passenger vehicles and light commercial vehicles is increasing the sales of automotive steering systems. Technological advancements are opening doors of opportunities for integrating internet of things in automotive steering systems. In addition, electric power systems have the potential for gaining a better load-bearing capacity and be used in commercial vehicles.

Furthermore, the ease of accessibility of funding and credit along with need for safety especially during the pandemic time boosted the sales of automotive steering systems. Special Utility Vehicles (SUVs) better manoeuvrability along with the stylistic design is playing a key role in the wide adoption of automotive steering systems.

Rising demand for fuel-efficient cars and the urgent need for comfortable driving experience are anticipated to propel the sales in the market. Increasing sales and production of both passenger cars and commercial vehicles is another factor which is set to drive the demand for car steering system parts in the forthcoming years.

Growing trend of installing electronics in automobiles is compelling car makers to invest huge sums in the integration of safety and electronic systems. Many automobile manufacturers are also expected to invest in technological advancements in terms of automotive steering wheel designs.

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How The Market Progressed Till June 2022?

Market Statistics

Details

H1,2021 (A)

2.5%

H1,2022 Projected (P)

3.2%

H1,2022 Outlook (O)

3.0%

BPS Change : H1,2022 (O) - H1,2022 (P)

(-) 18 ↓

BPS Change : H1,2022 (O) - H1,2021 (A)

(+) 53 ↑

FMI presents a half-yearly comparison and insightful analysis of the Automotive Steering System market growth rate. Significant technological developments & increasing demand for fuel-efficient vehicles are key factors for the enhanced market growth. Automotive Steering System sales will be boosted by rising per capita income and increasing sales & production of commercial as well as passenger vehicles.

According to FMI analysis, the variation between the BPS values observed in the Automotive Steering System market in H1, 2022 - Outlook over H1, 2022 Projected reflects a decline of 18 units. However, compared to H1, 2021, the market is expected to rise by 53 BPS in H1 -2022.

Key reasons for this change in growth rate is the market will be aided by the increased penetration of electronic steering systems in modern vehicles, increasing developments of electrical control systems & integration with IoT has made the manufacturers of automotive steering system invest huge capital for R&D activities.

Moreover, the market is expected to have high demand across various regions, as Original Equipment Manufacturers' (OEMs) demand for automotive steering wheels is directly correlated with rising auto production. In the upcoming years, many well-known automakers are anticipated to enter into long-term agreements with OEMs to enhance their revenue generation capability.

2015-2021 Automotive Steering System Market Outlook in Comparison to 2022-2030 Growth Forecast

The automotive steering system market is expected to register 4.6% CAGR between 2022 and 2030, up from 2.3% CAGR recorded during 2015-2021, as per Future Market Insights (FMI).

Ongoing development in the automotive industry is enabling manufacturers to engage in partnerships and new product launches to cater to the ever-increasing demand for innovative automobile power steering systems.

Though the COVID-19 pandemic had affected the market negatively to a certain extent, the sales of automobiles are gradually surging as the situation is becoming normal.

In September 2020, Schaeffler announced its partnership with Robert Bosch Automotive Steering GmbH to broaden its intelligent Rear Wheel Steering (iRWS) portfolio. This partnership would allow the former to deliver mechatronic iRWS systems, whereas the latter will provide software and electronics in terms of steering control units.

Similarly, in January 2021, Brakes India unveiled a high-performance power steering fluid called Ezsteer for commercial vehicles, utility vehicles, and passenger cars. The new product will help in providing longer drain period intervals up to 160,000 kilometers and improved frictional characteristics.

Such developments are expected to create a conducive environment for growth of the market over the forecast period.

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How Increasing Sales of Electronic Vehicles (EVs) Boosting Sales in the Market?

Governments of various countries are conducting awareness programs to educate the masses about environmental safety. This is further leading to a rapid shift of customers towards Electric Vehicles (EVs).

The ongoing technological innovations in the field of EVs are compelling local and national governments to offer incentives, subsidies, and tax credits to customers. As per the International Energy Agency (IEA), in 2010, only 17,000 EVs were on the roads globally. But, that number has surged to 7.2 million in 2019. This showcases that the sales of EVs are projected to rise during the evaluation period, thereby boosting the demand for car steering system parts.

How are Joint Ventures Helping to Boost the Automotive Steering System Market?

The requirement of automotive steering wheels by Original Equipment Manufacturers (OEMs) is directly proportional to the increasing production of automobiles. Many prominent automotive manufacturers are expected to sign long-term contracts with OEMs in the forthcoming years.

Some of the manufacturers are anticipated to participate in acquisitions and joint ventures with OEMs to produce superior quality products for automobiles. In August 2019, for instance, Nexteer Automotive teamed up with Dongfeng Motor Parts and Components Group Co., Ltd. to develop a joint venture called Dongfeng Nexteer Steering Systems (Wuhan) Co., Ltd.

This new firm will help the former to increase its manufacturing footprint to 28 locations across the globe. The development of similar other joint venture companies is set to accelerate the growth in the market.

Country-wise Insights

What is the China Automotive Steering System Market Outlook?

“Rising Sales of Vehicles to Drive the Demand for Automobile Power Steering Systems”

Rapid production of passenger cars and commercial vehicles in China is anticipated to drive the market over the assessment period. The East Asia automotive steering system market is likely to account for about 42.3% of the total market share in 2022, finds FMI.

According to the International Trade Administration, by 2025, the domestic production of vehicles is likely to reach 35 million. In 2020, more than 25 million vehicles were sold in the country and out of these, 19.99 million units were passenger vehicles. This trend is set to continue over the forecast period, thereby driving the sales of automobile power steering systems in China.

How is the U.K. Automotive Steering System Market Progressing?

“Prominent Manufacturers are Preferring Automotive Electric Power Steering Systems”

The presence of numerous luxury automotive manufacturers, such as Aston Martin, Rolls-Royce, Land Rover, Bentley, McLaren, and Jaguar in the U.K. is set to drive the market over the assessment period. As per FMI, the Europe automotive steering system market is expected to account for around 23.4% of the total market share in 2022.

The Society of Motor Manufacturers and Traders declared that in 2019, more than 2.5 million engines, 78,270 commercial vehicles, and 1.3 million cars were developed in the U.K, and 8 out of 10 cars manufactured in this country are exported to 160 different markets across the globe. Owing to the aforementioned factors, the demand for automotive electric power steering systems is expected to surge in the U.K.

Which Factors are Boosting the U.S. Automotive Steering System Market?

“Manufacturers are Introducing Novel Automotive Electric Power Steering Systems”

Ongoing development of many novel software solutions for usage in automobiles is likely to fuel growth in the U.S. market. As per FMI, the North America automotive steering system market is projected to hold approximately 14.8% of the total market share in 2022.

In October 2020, Nexteer Automotive introduced High-Output Electric Power Steering (EPS) for Light Commercial Vehicles (LCVs) and Heavy-Duty (HD) trucks. It would provide enhanced fuel efficiency, as well as innovative safety and comfort features. Drivers will also get access to novel features, such as trailer assist, crosswind compensation, and lane keep assist. The launch of similar other state-of-the-art automotive electric power steering systems will help in bolstering the market in the U.S.

Category-wise Insights

Which is the Most Preferred Technology in the Automotive Steering System Market?

“Electronic Automotive Steering Wheels are Exhibiting High Demand”

Based on technology, the electronic steering segment is set to account for the dominant share of the global automotive steering system market. Growth is attributable to the increasing adoption of electronic steering technology by several automotive manufacturers as it has an excellent fuel-efficiency quotient, unlike conventional systems.

The hydraulic steering segment is estimated to remain in the second position owing to its ability to absorb road shocks effectively in commercial vehicles. In these vehicles, electronic steering technology provides a limited load-bearing capacity and hence, various manufacturers are investing in the development of hydraulic automotive steering wheels.

Which is the Leading Vehicle Type in the Automotive Steering System Market?

“Passenger Car Manufacturers are Investing in Car Steering System Parts”

In terms of vehicle type, the passenger cars segment is likely to command the lion’s share in the global automotive steering system market.

The ease of accessibility of funding and credit, as well as rising number of tours and leisure activities worldwide are propelling the sales of passenger cars, thereby bolstering the demand for car steering system parts. High demand for Special Utility Vehicles (SUVs) backed by their better maneuverability, stylistic design, and low cost, is another factor fueling growth in the segment.

Competition Landscape

Leading companies operating in the global automotive steering system market are launching cutting-edge products to cater to the high demand from customers. Some of the other international companies are aiming to engage in acquisitions of small- and medium-sized regional automobile power steering system manufacturers. With these acquisitions, they are aiming to gain a competitive edge in the market. For instance:

  • In January 2022, IMUZAK, a leading developer of molding technology-based products headquartered in Japan, unveiled a 3D floating display for automated vehicles at CES 2022. It can project visual driver notifications from behind the steering wheel. The novel technology utilizes a proprietary microlens system for producing free-standing notifications that notify drivers of several highway features, key distances, and oncoming challenges.
  • In October 2021, Nexteer Automotive, an automotive parts supplier based in the U.S., launched its latest Modular Column-Assist EPS System (mCEPS) to broaden its Electric Power Steering (EPS) portfolio. The company aims to make drivers feel more connected to the road by introducing high-performance, custom-developed rotation and torque angle sensors for providing accurate and smooth steering feel.

Scope of Report

Attribute

Details

Forecast Period

2022-2030

Historical Data Available for

2015-2021

Market Analysis

Units for Volume and US$ Bn for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa.

Key Countries Covered

The U.S., Canada, Brazil, Mexico, Germany, the U.K., France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others.

Key Market Segments Covered

Vehicle Type, Technology, and Region

Key Companies Profiled

Pricing

Available upon Request

Automotive Steering System Market by Category

By Vehicle Type:

  • Passenger Cars
    • Compact
    • Mid-size
    • Premium
    • SUVs
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

By Technology:

  • Electronic Steering
    • H-EPS
    • C-EPS
    • P-EPS
    • R-EPS
  • Hydraulic Steering
  • Manual Steering
  • Electro-hydraulic Steering

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • MEA

Frequently Asked Questions

The global automotive steering system market is expected to reach a valuation of US$ 23.2 Bn in 2022.

The global automotive steering system market grew at a healthy 2.3% CAGR between 2015 and 2021.

The rising demand for passenger cars and the surging launch of advanced products are the key trends boosting the sales of automotive steering systems.

JTEKT Corporation, Nexteer Automotive Group Ltd., Showa Corp., ThyssenKrupp AG, Hitachi Automotive System Ltd., Robert Bosch GmbH, NSK Steering System Co. Ltd., Mando Corp., ZF Friedrichshafen AG, and ATS Automation Tooling System Inc. are some of the leading players present in the global automotive steering system market.

The North America automotive steering system market is anticipated to account for 14.8% of the share in 2022.

The Europe automotive steering system market is projected to account for 23.4% of the share in the forecast period.

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand Side Trends

    1.3. Supply Side Trends

    1.4. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Key Market Trends

4. Key Success Factors

5. Global Market Demand Analysis 2015-2021 and Forecast, 2022-2030

    5.1. Historical Market Volume (Units) Analysis, 2015-2021

    5.2. Current and Future Market Volume (Units) Projections, 2022-2030

    5.3. Y-o-Y Growth Trend Analysis

6. Global Market - Pricing Analysis

7. Global Market Demand (in Value or Size in US$ Mn) Analysis 2015-2021 and Forecast, 2022-2030

    7.1. Historical Market Value (US$ Mn) Analysis, 2015-2021

    7.2. Current and Future Market Value (US$ Mn) Projections, 2022-2030

         7.2.1. Y-o-Y Growth Trend Analysis

         7.2.2. Absolute $ Opportunity Analysis

8. Market Background

    8.1. Macro-Economic Factors

    8.2. Forecast Factor

    8.3. Technology Roadmap

    8.4. List of Key Market Participants

    8.5. Impact of COVID - 19 Crisis

         8.5.1. Current Statistics & Future Projections

         8.5.2. Potential of Impact on Global Market

         8.5.3. Short/Mid/Long term Recovery Scenario

    8.6. Market Dynamics

         8.6.1. Drivers

         8.6.2. Restraints

         8.6.3. Opportunity Analysis

9. Global Market Analysis 2015-2021 and Forecast 2022-2030, By Technology

    9.1. Introduction / Key Findings

    9.2. Historical Market Size (US$ Mn) and Volume Analysis By Technology, 2015 - 2021

    9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Technology, 2022 - 2030

         9.3.1. Electronic Steering

              9.3.1.1. H-EPS

              9.3.1.2. C-EPS

              9.3.1.3. P-EPS

              9.3.1.4. R-EPS

         9.3.2. Hydraulic Steering

         9.3.3. Manual Steering

         9.3.4. Electro-Hydraulic Steering

10. Global Market Analysis 2015-2021 and Forecast 2022-2030, By Vehicle Type

    10.1. Introduction / Key Findings

    10.2. Historical Market Size (US$ Mn) and Volume Analysis By Vehicle Type, 2015 - 2021

    10.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Vehicle Type, 2022 - 2030

         10.3.1. Passenger Car

              10.3.1.1. Compact

              10.3.1.2. Mid-Size

              10.3.1.3. Luxury

              10.3.1.4. SUV

         10.3.2. Light Commercial Vehicle (LCV)

         10.3.3. Heavy Commercial Vehicle (HCV)

11. Global Market Analysis 2015-2021 and Forecast 2022-2030, by Region

    11.1. Introduction

    11.2. Historical Market Size (US$ Mn) and Volume Analysis By Region, 2015 - 2021

    11.3. Current Market Size (US$ Mn) and Volume Analysis and Forecast By Region, 2022 - 2030

         11.3.1. North America

         11.3.2. Latin America

         11.3.3. Europe

         11.3.4. East Asia

         11.3.5. South Asia & Pacific

         11.3.6. Middle East & Africa

    11.4. Market Attractiveness Analysis By Region

12. North America Market Analysis 2015-2021 and Forecast 2022-2030

    12.1. Introduction

    12.2. Pricing Analysis

    12.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2021

    12.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2030

         12.4.1. By Technology

         12.4.2. By Vehicle Type

         12.4.3. By Country

              12.4.3.1. U.S.

              12.4.3.2. Canada

    12.5. Market Attractiveness Analysis

         12.5.1. By Technology

         12.5.2. By Vehicle Type

         12.5.3. By Country

    12.6. Market Trends

    12.7. Key Market Participants - Intensity Mapping

13. Latin America Market Analysis 2015-2021 and Forecast 2022-2030

    13.1. Introduction

    13.2. Pricing Analysis

    13.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2021

    13.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2030

         13.4.1. By Technology

         13.4.2. By Vehicle Type

         13.4.3. By Country

              13.4.3.1. Brazil

              13.4.3.2. Mexico

              13.4.3.3. Rest of Latin America

    13.5. Market Attractiveness Analysis

         13.5.1. By Technology

         13.5.2. By Vehicle Type

         13.5.3. By Country

    13.6. Market Trends

    13.7. Key Market Participants - Intensity Mapping

14. Europe Market Analysis 2015-2021 and Forecast 2022-2030

    14.1. Introduction

    14.2. Pricing Analysis

    14.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2021

    14.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2030

         14.4.1. By Technology

         14.4.2. By Vehicle Type

         14.4.3. By Country

              14.4.3.1. U.K.

              14.4.3.2. Germany

              14.4.3.3. France

              14.4.3.4. Italy

              14.4.3.5. Spain

              14.4.3.6. Russia

              14.4.3.7. BENELUX

              14.4.3.8. Rest of Europe

    14.5. Market Attractiveness Analysis

         14.5.1. By Technology

         14.5.2. By Vehicle Type

         14.5.3. By Country

    14.6. Market Trends

    14.7. Key Market Participants - Intensity Mapping

15. South Asia & Pacific Market Analysis 2015-2021 and Forecast 2022-2030

    15.1. Introduction

    15.2. Pricing Analysis

    15.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2021

    15.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2030

         15.4.1. By Technology

         15.4.2. By Vehicle Type

         15.4.3. By Country

              15.4.3.1. India

              15.4.3.2. Thailand

              15.4.3.3. Indonesia

              15.4.3.4. Malaysia

              15.4.3.5. Oceania

              15.4.3.6. Rest of South Asia & Pacific

    15.5. Market Attractiveness Analysis

         15.5.1. By Technology

         15.5.2. By Vehicle Type

         15.5.3. By Country

    15.6. Market Trends

    15.7. Key Market Participants - Intensity Mapping

16. East Asia Market Analysis 2015-2021 and Forecast 2022-2030

    16.1. Introduction

    16.2. Pricing Analysis

    16.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2021

    16.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2030

         16.4.1. By Technology

         16.4.2. By Vehicle Type

         16.4.3. By Country

              16.4.3.1. China

              16.4.3.2. Japan

              16.4.3.3. South Korea

    16.5. Market Attractiveness Analysis

         16.5.1. By Technology

         16.5.2. By Vehicle Type

         16.5.3. By Country

    16.6. Market Trends

    16.7. Key Market Participants - Intensity Mapping

17. Middle East and Africa Market Analysis 2015-2021 and Forecast 2022-2030

    17.1. Introduction

    17.2. Pricing Analysis

    17.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2021

    17.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2030

         17.4.1. By Technology

         17.4.2. By Vehicle Type

         17.4.3. By Country

              17.4.3.1. GCC Countries

              17.4.3.2. Turkey

              17.4.3.3. Northern Africa

              17.4.3.4. South Africa

              17.4.3.5. Rest of Middle East and Africa

    17.5. Market Attractiveness Analysis

         17.5.1. By Technology

         17.5.2. By Vehicle Type

         17.5.3. By Country

    17.6. Market Trends

    17.7. Key Market Participants - Intensity Mapping

18. Key and Emerging Countries Market Analysis

    18.1. Introduction

         18.1.1. Market Value Proportion Analysis, By Key Countries

         18.1.2. Global Vs. Country Growth Comparison

    18.2. U.S. Market Analysis

         18.2.1. By Technology

         18.2.2. By Vehicle Type

    18.3. Canada Market Analysis

         18.3.1. By Technology

         18.3.2. By Vehicle Type

    18.4. Mexico Market Analysis

         18.4.1. By Technology

         18.4.2. By Vehicle Type

    18.5. Brazil Market Analysis

         18.5.1. By Technology

         18.5.2. By Vehicle Type

    18.6. U.K. Market Analysis

         18.6.1. By Technology

         18.6.2. By Vehicle Type

    18.7. Germany Market Analysis

         18.7.1. By Technology

         18.7.2. By Vehicle Type

    18.8. France Market Analysis

         18.8.1. By Technology

         18.8.2. By Vehicle Type

    18.9. Italy Market Analysis

         18.9.1. By Technology

         18.9.2. By Vehicle Type

    18.10. Spain Market Analysis

         18.10.1. By Technology

         18.10.2. By Vehicle Type

    18.11. Russia Market Analysis

         18.11.1. By Technology

         18.11.2. By Vehicle Type

    18.12. China Market Analysis

         18.12.1. By Technology

         18.12.2. By Vehicle Type

    18.13. Japan Market Analysis

         18.13.1. By Technology

         18.13.2. By Vehicle Type

    18.14. S. Korea Market Analysis

         18.14.1. By Technology

         18.14.2. By Vehicle Type

    18.15. India Market Analysis

         18.15.1. By Technology

         18.15.2. By Vehicle Type

    18.16. Indonesia Market Analysis

         18.16.1. By Technology

         18.16.2. By Vehicle Type

    18.17. Australia and New Zealand Market Analysis

         18.17.1. By Technology

         18.17.2. By Vehicle Type

    18.18. GCC Countries Market Analysis

         18.18.1. By Technology

         18.18.2. By Vehicle Type

    18.19. Turkey Market Analysis

         18.19.1. By Technology

         18.19.2. By Vehicle Type

    18.20. South Africa Market Analysis

         18.20.1. By Technology

         18.20.2. By Vehicle Type

19. Market Structure Analysis

    19.1. Market Analysis by Tier of Companies (Automotive Steering System)

    19.2. Market Concentration

    19.3. Market Share Analysis of Top Players

    19.4. Market Presence Analysis

         19.4.1. By Regional footprint of Players

         19.4.2. Product foot print by Players

         19.4.3. Channel Foot Print by Players

20. Competition Analysis

    20.1. Competition Dashboard

    20.2. Pricing Analysis by Competition

    20.3. Competition Benchmarking

    20.4. Competition Deep Dive

         20.4.1. JTEKT Corporation

              20.4.1.1. Overview

              20.4.1.2. Product Portfolio

              20.4.1.3. Profitability by Market Segments (Product/Channel/Region)

              20.4.1.4. Sales Footprint

              20.4.1.5. Strategy Overview

                    20.4.1.5.1. Marketing Strategy

                    20.4.1.5.2. Product Strategy

                    20.4.1.5.3. Channel Strategy

         20.4.2. Nexteer Automotive Group Ltd.

              20.4.2.1. Overview

              20.4.2.2. Product Portfolio

              20.4.2.3. Profitability by Market Segments (Product/Channel/Region)

              20.4.2.4. Sales Footprint

              20.4.2.5. Strategy Overview

                    20.4.2.5.1. Marketing Strategy

                    20.4.2.5.2. Product Strategy

                    20.4.2.5.3. Channel Strategy

         20.4.3. Showa Corp.

              20.4.3.1. Overview

              20.4.3.2. Product Portfolio

              20.4.3.3. Profitability by Market Segments (Product/Channel/Region)

              20.4.3.4. Sales Footprint

              20.4.3.5. Strategy Overview

                    20.4.3.5.1. Marketing Strategy

                    20.4.3.5.2. Product Strategy

                    20.4.3.5.3. Channel Strategy

         20.4.4. ThyssenKrupp AG

              20.4.4.1. Overview

              20.4.4.2. Product Portfolio

              20.4.4.3. Profitability by Market Segments (Product/Channel/Region)

              20.4.4.4. Sales Footprint

              20.4.4.5. Strategy Overview

                    20.4.4.5.1. Marketing Strategy

                    20.4.4.5.2. Product Strategy

                    20.4.4.5.3. Channel Strategy

         20.4.5. Hitachi Automotive System Ltd.

              20.4.5.1. Overview

              20.4.5.2. Product Portfolio

              20.4.5.3. Profitability by Market Segments (Product/Channel/Region)

              20.4.5.4. Sales Footprint

              20.4.5.5. Strategy Overview

                    20.4.5.5.1. Marketing Strategy

                    20.4.5.5.2. Product Strategy

                    20.4.5.5.3. Channel Strategy

         20.4.6. Robert Bosch GmbH

              20.4.6.1. Overview

              20.4.6.2. Product Portfolio

              20.4.6.3. Profitability by Market Segments (Product/Channel/Region)

              20.4.6.4. Sales Footprint

              20.4.6.5. Strategy Overview

                    20.4.6.5.1. Marketing Strategy

                    20.4.6.5.2. Product Strategy

                    20.4.6.5.3. Channel Strategy

         20.4.7. NSK Steering System Co. ltd.

              20.4.7.1. Overview

              20.4.7.2. Product Portfolio

              20.4.7.3. Profitability by Market Segments (Product/Channel/Region)

              20.4.7.4. Sales Footprint

              20.4.7.5. Strategy Overview

                    20.4.7.5.1. Marketing Strategy

                    20.4.7.5.2. Product Strategy

                    20.4.7.5.3. Channel Strategy

         20.4.8. Mando Corp.

              20.4.8.1. Overview

              20.4.8.2. Product Portfolio

              20.4.8.3. Profitability by Market Segments (Product/Channel/Region)

              20.4.8.4. Sales Footprint

              20.4.8.5. Strategy Overview

                    20.4.8.5.1. Marketing Strategy

                    20.4.8.5.2. Product Strategy

                    20.4.8.5.3. Channel Strategy

         20.4.9. ZF Friedrichshafen AG

              20.4.9.1. Overview

              20.4.9.2. Product Portfolio

              20.4.9.3. Profitability by Market Segments (Product/Channel/Region)

              20.4.9.4. Sales Footprint

              20.4.9.5. Strategy Overview

                    20.4.9.5.1. Marketing Strategy

                    20.4.9.5.2. Product Strategy

                    20.4.9.5.3. Channel Strategy

         20.4.10. ATS Automation Tooling System Inc.

              20.4.10.1. Overview

              20.4.10.2. Product Portfolio

              20.4.10.3. Profitability by Market Segments (Product/Channel/Region)

              20.4.10.4. Sales Footprint

              20.4.10.5. Strategy Overview

                    20.4.10.5.1. Marketing Strategy

                    20.4.10.5.2. Product Strategy

                    20.4.10.5.3. Channel Strategy

         20.4.11. Hyundai Mobis

              20.4.11.1. Overview

              20.4.11.2. Product Portfolio

              20.4.11.3. Profitability by Market Segments (Product/Channel/Region)

              20.4.11.4. Sales Footprint

              20.4.11.5. Strategy Overview

                    20.4.11.5.1. Marketing Strategy

                    20.4.11.5.2. Product Strategy

                    20.4.11.5.3. Channel Strategy

         20.4.12. Mitsubishi Electric Corporation

              20.4.12.1. Overview

              20.4.12.2. Product Portfolio

              20.4.12.3. Profitability by Market Segments (Product/Channel/Region)

              20.4.12.4. Sales Footprint

              20.4.12.5. Strategy Overview

                    20.4.12.5.1. Marketing Strategy

                    20.4.12.5.2. Product Strategy

                    20.4.12.5.3. Channel Strategy

         20.4.13. China Automotive Systems, Inc.

              20.4.13.1. Overview

              20.4.13.2. Product Portfolio

              20.4.13.3. Profitability by Market Segments (Product/Channel/Region)

              20.4.13.4. Sales Footprint

              20.4.13.5. Strategy Overview

                    20.4.13.5.1. Marketing Strategy

                    20.4.13.5.2. Product Strategy

                    20.4.13.5.3. Channel Strategy

21. Assumptions and Acronyms Used

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List of Tables

Table 01: Global Market Size (US$ Mn) and Volume '000 Units Forecast By Technology, 2015-2030

Table 02: Global Market Size (US$ Mn) and Volume '000 Units Forecast by Vehicle Type, 2015-2030

Table 03: Global Market Size (US$ Mn) and Volume '000 Units Forecast by Region, 2015-2030

Table 04: North America Market Size (US$ Mn) and Volume '000 Units Forecast by Country, 2015- 2030

Table 05: North America Market Size (US$ Mn) and Volume '000 Units Forecast By Technology, 2015-2030

Table 06: North America Market Size (US$ Mn) and Volume '000 Units Forecast by Vehicle Type, 2015-2030

Table 07: Latin America Market Size (US$ Mn) and Volume '000 Units Forecast by Country, 2015 - 2030

Table 08: Latin America Market Size (US$ Mn) and Volume '000 Units Forecast By Technology, 2015-2030

Table 09: Latin America Market Size (US$ Mn) and Volume '000 Units Forecast by Vehicle Type, 2015-2030

Table 10: Europe Market Size (US$ Mn) and Volume '000 Units Forecast by Country, 2015 - 2030

Table 11: Europe Market Size (US$ Mn) and Volume '000 Units Forecast By Technology, 2015-2030

Table 12: Europe Market Size (US$ Mn) and Volume '000 Units Forecast by Vehicle Type, 2015-2030

Table 13: South Asia & Pacific Market Size (US$ Mn) and Volume '000 Units Forecast by Country, 2015 - 2030

Table 14: South Asia & Pacific Market Size (US$ Mn) and Volume '000 Units Forecast By Technology, 2015-2030

Table 15: South Asia & Pacific Market Size (US$ Mn) and Volume '000 Units Forecast by Vehicle Type, 2015-2030

Table 16: East Asia Market Size (US$ Mn) and Volume '000 Units Forecast by Country, 2015 - 2030

Table 17: East Asia Market Size (US$ Mn) and Volume '000 Units Forecast By Technology, 2015-2030

Table 18: East Asia Market Size (US$ Mn) and Volume '000 Units Forecast by Vehicle Type, 2015-2030

Table 19: Middle East & Africa Market Size (US$ Mn) and Volume '000 Units Forecast by Country, 2015 - 2030

Table 20: Middle East & Africa Market Size (US$ Mn) and Volume '000 Units Forecast By Technology, 2015-2030

Table 21: Middle East & Africa Market Size (US$ Mn) and Volume '000 Units Forecast by Vehicle Type, 2015-2030

Nikhil Kaitwade
Principal Consultant
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List of Charts

Figure 01: Global Market Historical Volume '000 Units, 2015 - 2021

Figure 02: Global Market Volume '000 Units Forecast, 2022 - 2030

Figure 03: Global Market Value (US$ Mn) Historical Data and Forecast 2015-2030

Figure 04: Global Market Absolute $ Opportunity Analysis, 2015-2030

Figure 05: Global Market Share and BPS Analysis by Technology, 2022 & 2030

Figure 06: Global Market Y-o-Y Growth by Technology, 2021-2030

Figure 07: Global Market Attractiveness Analysis by Technology, 2022-2030

Figure 08: Global Market Absolute $ Opportunity by Electronic Steering Segment, 2022-2030

Figure 09: Global Market Absolute $ Opportunity by Hydraulic Steering Segment, 2022-2030

Figure 10: Global Market Absolute $ Opportunity by Manual Steering Segment, 2022-2030

Figure 11: Global Market Absolute $ Opportunity by Electro-Hydraulic Steering Segment, 2022-2030

Figure 12: Global Market Share and BPS Analysis by Vehicle Type, 2022 & 2030

Figure 13: Global Market Y-o-Y Growth by Vehicle Type, 2021-2030

Figure 14: Global Market Attractiveness Analysis by Vehicle Type, 2022-2030

Figure 15: Global Market Absolute $ Opportunity by Passenger Cars Segment, 2022-2030

Figure 16: Global Market Absolute $ Opportunity by Light Commercial Vehicles Segment, 2022-2030

Figure 17: Global Market Absolute $ Opportunity by Heavy Commercial Vehicles Segment, 2022-2030

Figure 18: Global Market Share and BPS Analysis by Region, 2022 & 2030

 Figure 19: Global Market Y-o-Y Growth by Region, 2022-2030

Figure 20: Global Market Attractiveness Analysis by Region, 2022-2030

Figure 21: Global Market Absolute $ Opportunity in North America Region, 2022-2030

Figure 22: Global Market Absolute $ Opportunity in Latin America Region, 2022-2030

Figure 23: Global Market Absolute $ Opportunity in Europe Region, 2022-2030

Figure 24: Global Market Absolute $ Opportunity in South Asia & Pacific Region, 2022-2030

Figure 25: Global Market Absolute $ Opportunity in East Asia Region, 2022-2030

Figure 26: Global Market Absolute $ Opportunity in Middle East & Africa Region, 2022-2030

Figure 27: North America Market Share and BPS Analysis by Country

Figure 28: North America Market Y-o-Y Growth by Country, 2021-2030

Figure 29: North America Market Attractiveness Analysis by Country, 2022 - 2030

Figure 30: U.S. Market Absolute $ Opportunity, 2015-2030

Figure 31: Canada Market Absolute $ Opportunity, 2015-2030

Figure 32: North America Market Share and BPS Analysis by Technology, 2022 & 2030

Figure 33: North America Market Y-o-Y Growth by Technology, 2021-2030

Figure 34: North America Market Attractiveness Analysis by Technology, 2022-2030

Figure 35: North America Market Share and BPS Analysis by Vehicle Type, 2022 & 2030

Figure 36: North America Market Y-o-Y Growth by Vehicle Type, 2021-2030

Figure 37: North America Market Attractiveness Analysis by Vehicle Type, 2022-2030

Figure 38: Latin America Market Share and BPS Analysis by Country

Figure 39: Latin America Market Y-o-Y Growth by Country, 2021-2030

Figure 40: Latin America Market Attractiveness Analysis by Country, 2022 - 2030

Figure 41: Brazil Market Absolute $ Opportunity, 2015-2030

Figure 42: Mexico Market Absolute $ Opportunity, 2015-2030

Figure 43: Rest of Latin America Market Absolute $ Opportunity, 2015-2030

Figure 44: Latin America Market Share and BPS Analysis by Technology, 2022 & 2030

Figure 45: Latin America Market Y-o-Y Growth by Technology, 2021-2030

Figure 46: Latin America Market Attractiveness Analysis by Technology, 2022-2030

Figure 47: Latin America Market Share and BPS Analysis by Vehicle Type, 2022 & 2030

Figure 48: Latin America Market Y-o-Y Growth by Vehicle Type, 2021-2030

Figure 49: Latin America Market Attractiveness Analysis by Vehicle Type, 2022-2030

Figure 50: Europe Market Share and BPS Analysis by Country

Figure 51: Europe Market Y-o-Y Growth by Country, 2021-2030

Figure 52: Europe Market Attractiveness Analysis by Country, 2022 - 2030

Figure 53: Germany Market Absolute $ Opportunity, 2022 and 2030

Figure 54: Italy Market Absolute $ Opportunity, 2022 and 2030

Figure 55: France Market Absolute $ Opportunity, 2022 and 2030

Figure 56: U.K. Market Absolute $ Opportunity, 2022 and 2030

Figure 57: Russia Market Absolute $ Opportunity, 2022 and 2030

Figure 58: BENELUX Market Absolute $ Opportunity, 2022 and 2030

Figure 59: Spain Market Absolute $ Opportunity, 2022 and 2030

Figure 60: Rest of Europe Market Absolute $ Opportunity by Nordic, 2022 and 2030

Figure 61: Europe Market Share and BPS Analysis by Technology, 2022 & 2030

Figure 62: Europe Market Y-o-Y Growth by Technology, 2021-2030

Figure 63: Europe Market Attractiveness Analysis by Technology, 2022-2030

Figure 64: Europe Market Share and BPS Analysis by Vehicle Type, 2022 & 2030

Figure 65: Europe Market Y-o-Y Growth by Vehicle Type, 2021-2030

Figure 66: Europe Market Attractiveness Analysis by Vehicle Type, 2022-2030

Figure 67: South Asia & Pacific Market Share and BPS Analysis by Country

Figure 68: South Asia & Pacific Market Y-o-Y Growth by Country, 2021-2030

Figure 69: South Asia & Pacific Market Attractiveness Analysis by Country, 2022 - 2030

Figure 70: Thailand Market Absolute $ Opportunity, 2015-2030

Figure 71: India Market Absolute $ Opportunity, 2015-2030

Figure 72: Malaysia Market Absolute $ Opportunity, 2015-2030

Figure 73: Oceania Market Absolute $ Opportunity, 2015-2030

Figure 74: Indonesia Market Absolute $ Opportunity, 2015-2030

Figure 75: Rest of South Asia & Pacific Market Absolute $ Opportunity, 2015-2030

Figure 76: South Asia & Pacific Market Share and BPS Analysis by Technology, 2022 & 2030

Figure 77: South Asia & Pacific Market Y-o-Y Growth by Technology, 2021-2030

Figure 78: South Asia & Pacific Market Attractiveness Analysis by Technology, 2022-2030

Figure 79: South Asia & Pacific Market Share and BPS Analysis by Vehicle Type, 2022 & 2030

Figure 80: South Asia & Pacific Market Y-o-Y Growth by Vehicle Type, 2021-2030

Figure 81: South Asia & Pacific Market Attractiveness Analysis by Vehicle Type, 2022-2030

Figure 82: East Asia Market Share and BPS Analysis by Country

Figure 83: East Asia Market Y-o-Y Growth Projections by Country, 2021- 2030

Figure 84: East Asia Market Attractiveness Analysis by Country, 2022 - 2030

Figure 85: China Market Absolute $ Opportunity, 2015-2030

Figure 86: Japan Market Absolute $ Opportunity, 2015-2030

Figure 87: South Korea Market Absolute $ Opportunity, 2015-2030

Figure 88: East Asia Market Share and BPS Analysis by Technology, 2022 & 2030

Figure 89: East Asia Market Y-o-Y Growth by Technology, 2021-2030

Figure 90: East Asia Market Attractiveness Analysis by Technology, 2022-2030

Figure 91: East Asia Market Share and BPS Analysis by Vehicle Type, 2022 & 2030

Figure 92: East Asia Market Y-o-Y Growth by Vehicle Type, 2021-2030

Figure 93: East Asia Market Attractiveness Analysis by Vehicle Type, 2022-2030

Figure 94: Middle East & Africa Market Share and BPS Analysis by Country, 2022 & 2030

Figure 95: Middle East & Africa Market Y-o-Y Growth by Country, 2021-2030

Figure 96: Middle East & Africa Market Attractiveness Analysis by Country, 2022 - 2030

Figure 97: South Africa Market Absolute $ Opportunity, 2015-2030

Figure 98: Turkey Market Absolute $ Opportunity, 2015-2030

Figure 99: Northern Africa Market Absolute $ Opportunity, 2015-2030

Figure 100: GCC Countries Market Absolute $ Opportunity, 2015-2030

Figure 101: Rest of Middle East & Africa Market Absolute $ Opportunity, 2015-2030

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