Global Automotive Steering Systems Market : was valued at USD 30.68 Billion in 2021, and is expected to reach USD 44.30 Billion by 2029, exhibiting a CAGR of 4.7 % during the forecast period (2022-2029)

Market Scope:

The Automotive Steering Systems market is a rapidly growing industry due to the increasing demand for natural and organic ingredients in the food and beverage, nutraceutical, and cosmetic industries. Collagen peptides and gelatin are derived from animal by-products and are rich in amino acids, making them beneficial for skin, hair, and joint health. They are also used as thickening and gelling agents in the food industry. The market is expected to continue growing as more consumers become aware of the benefits of collagen peptides and gelatin and as new applications for these ingredients are developed.

Automotive Steering Systems Market Segment Analysis : 

Based on Product, the closed system segment held the largest market share of about 68% in terms of revenue and dominated the global Automotive Steering Systems market in 2021. The segment is further expected to grow at a CAGR of 10.2% and maintain its dominance throughout the forecast period. The increased utilization of these pumps is mostly because these systems are more sanitary and contamination-free. Closed Automotive Steering Systems s are increasingly replacing open systems, and their revenue share is expected to increase significantly during the forecast period.

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Segmentation:

by Component

● Hydraulic Pump
● Steering Column
● Electric Motor
● Steering Wheel Speed Sensor

by Technology

● Electric power steering (EPS)
● Electrically assisted hydraulic power steering (EHPS)
● Hydraulic power steering (HPS)

by EPS Type

● Column-EPS (C-EPS)
● Pinion-EPS (P-EPS)
● Rack-EPS (R-EPS)

Key Players: the key players are

● Nexteer Automotive
● Hitachi Automotive Systems Americas, Inc.
● Hyundai Mobis
● JTEKT Corporation
● The Mando Corporation
● NSK Ltd.
● Robert Bosch GmbH
● Showa Corporation
● ThyssenKrupp AG
● Magna International
● Mitsubishi Electric Corporation
● Denso Corporation

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Regional Analysis:

The report has assessed the global Automotive Steering Systems market in the following regions:

  • America, North (the United States, Canada)
  • European Union (Germany, France, United Kingdom, Russia)
  • Asia-Pacific region (China, Japan, Korea, India, Southeast Asia, and Australia)
  • Latin America (Brazil, Argentina, Colombia)
  • Africa and the Middle East (Saudi Arabia, UAE, Egypt, South Africa)

Key Questions answered in the Automotive Steering Systems Market Report are:

  • What are the latest trends in the Market?
  • What are the most popular types of Market among consumers?
  • Who are the major players in the Market?
  • What are the different segments of the Market?
  • What is the market size for Market ?
  • What are the main drivers of growth in the Market?
  • What are the main challenges facing the Market?
  • What is the future outlook for the Market?
  • What is the impact of emerging technologies on the Market?
  • How do consumer preferences and demographics affect the Market?

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