Market Overview

Products related to steering systems for passenger cars, light commercial vehicles, and heavy commercial vehicles are referred to as automotive steering systems. Because this market is so diverse, steering is targeted at the following segments: based on vehicle type (passenger cars and commercial vehicles); based on components (steering wheels, columns, gears/boxes, pumps/motors, electronic control units, and sensors); based on sales (Original Equipment Manufacturer and Aftermarket); and based on type (hydraulic power steering, electric power steering, and electro-hydraulic power steering). Technology exploitation, particularly in regard to the use of Advanced Driver Assistance Systems (ADAS), is another factor influencing the market.

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Automotive Steering Systems Market Key Players:

• JTEKT Corporation (Japan)
• Nexteer Automotive Group Ltd. (United States)
• Showa Corp. (Japan)
• ThyssenKrupp AG (Germany)
• Hitachi Automotive Systems Ltd. (Japan)
• Robert Bosch GmbH (Germany)
• NSK Steering Systems Co. Ltd. (Japan)
• Mando Corp. (South Korea)
• ZF Friedrichshafen AG (Germany)
• Others

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Automotive Steering Systems Market Trend Analysis

Market Drivers

• The increasing adoption of more advanced technologies like ADAS and EPS is driving the growth of the automotive steering systems market. As a result, EPS systems have become widely used in the automotive industry because to concerns from automakers about improving fuel economy and reducing emissions, as well as the fact that they are generally perceived as being more fuel-efficient and emitting less pollutants than hydraulic power steering systems. Additionally, level two features like smart parking or lane-keeping assist lead to the integration of hearing systems that are compatible with those technologies, which will further increase demand for steering solutions.

 Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Automotive Steering Systems Market

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Automotive Steering Systems Market Segmentation

By Type

• Hydraulic Power Steering (HPS)
• Electric Power Steering (EPS)
• Electro-hydraulic Power Steering (EHPS)
• Manual Steering

By Vehicle Type

• Passenger Cars
• Light Commercial Vehicles (LCVs)
• Heavy Commercial Vehicles (HCVs)

By Technology

• Conventional Steering System
• Advanced Driver Assistance System (ADAS) Integrated Steering System

Regional Analysis:

• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

Key questions answered in the Automotive Steering Systems Market are:

• Which is the fastest growing region in the Automotive Steering Systems Market?
• What is the growth rate of the Automotive Steering Systems Market?
• What are the upcoming opportunities and trends for the Automotive Steering Systems Market?
• What segments are covered in the Automotive Steering Systems Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Automotive Steering Systems Market?
• Which are the factors expected to drive the Automotive Steering Systems Market growth?

Our market research study carefully examines the overall industry, covering all essential market fundamentals. Through an extensive range of primary and secondary sources, we establish a robust foundation n for our findings. To enhance the comprehensiveness of our evaluation, we employ industry-standard tools like Porter's Five Forces Analysis, SWOT Analysis, and Price Trend Analysis.

Within our study, we study the complete ecosystem of the Automotive Steering Systems market, explaining various market stakeholders, their functions, and interdependencies. Additionally, our comprehensive segmentation analysis and geographical coverage provide profound insights into regional trends. We also analyse externally affecting factors.

Key Benefits Of The Report

• This study presents the analytical depiction of the global Automotive Steering Systems industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Automotive Steering Systems market share.
• The current market is quantitatively analyzed from 2024 to 2032 to highlight the Automotive Steering Systems market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed Automotive Steering Systems market analysis based on the present and future competitive intensity of the market.

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