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:

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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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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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