Global Automotive Steering Systems Market (2021-2028) – Featuring Denso, Hitachi Astemi, and Robert Bosch among others

DUBLIN, December 17, 2021– (BUSINESS WIRE) – “Global Automotive Steering Systems Market 2021-2028” report has been added to offer.

The global automotive steering systems market is expected to grow with a CAGR of 5.01% during the forecast years 2021-2028.

Companies mentioned

  • China Automotive Systems Inc

  • Denso Corporation

  • Hitachi Astemo Ltd

  • Honda Motor Company

  • Hyundai mobis

  • Jtekt Company

  • Mando Corporation

  • Mitsubishi electric corporation

  • Nexteer Automotive Corporation

  • NSK Ltd

  • Robert Bosch GmbH

Strict energy efficiency standards primarily drive demand for automotive steering systems. In addition, an increasing demand for more functions in electronic control units is observed. These factors are propelling the growth of the global market.

On the contrary, the high cost of the automobile and the autonomous characteristics of the cars hamper this growth process. However, increasing automotive production and increasing adoption of electric vehicles indicate an overall positive outlook for the automotive steering systems market.

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

The Asia-Pacific market is expected to show the fastest growing in the world in the coming period. Factors such as the presence of a number of market leaders who are increasingly investing large sums in electric mobility services are the key factors in the growth of this market. Moreover, the vast capacity expansion in India and China, the increase in per capita income and the development of the road network further contribute to the growth of the automotive steering systems market in the APAC region.

Main topics covered:

1. Global Automotive Steering Systems Market – Summary

2. Industry outlook

2.1. Impact of Covid-19 on the automotive steering systems industry

2.2. Key ideas

2.2.1. Adoption of sensors

2.2.2. Adas (Advanced Driver Assistance Systems) Automotive Adoption

2.2.3. Use of technologically advanced eps

2.3. Porter’s Five Forces Analysis

2.4. Market attractiveness index

2.5. Supplier scorecard

2.6. Key impact analysis

2.6.1. Fuel consumption

2.6.2. CO2 emissions

2.6.3. Maintenance

2.7. Key market strategies

2.7.1. Product launches

2.7.2. Contracts and partnerships

2.7.3. Business expansions and divestitures

2.8. Market factors

2.8.1. Growing demand for additional functions in the Electronic Control Unit (ECU)

2.8.2. Strict energy efficiency standards

2.9. Market challenges

2.9.1. High cost of the automobile

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 Systems Market Outlook – By Vehicle Type

3.1. Driven by ice

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 Systems Market Outlook – By Type

4.1. Electric steering system

4.1.1. Electric Power Steering System by Type Column assist type (C-Eps) Pinion Assist Type (P-Eps) Direct drive type (D-Eps) Rack Support Type (R-Eps)

4.1.2. Component-based electric power steering system Steering rack / steering column Sensor Steering motor Other types of components

4.2. Hydraulic steering system

4.3. Electro-hydraulic

4.4. Pilot by wire

5. Global Automotive Steering Systems Market – Regional Outlook

6. Competitive landscape

7. Methodology and scope of the research

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