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Written by Joey Moore » Updated on: January 15th, 2025
Automotive Steering System Market Analysis 2025-2033
Summary:
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Industry Trends and Drivers:
The increasing demand for advanced vehicle safety features across the globe is one of the major factors boosting the automotive steering system market share. With rising concerns about road safety, automotive manufacturers are focusing on integrating technologies that improve vehicle control, stability, and driver assistance. Steering systems are central to these safety features, particularly with the development of electronic power steering (EPS) and advanced driver-assistance systems (ADAS). These systems help in automatic lane-keeping, collision avoidance, and stability control, thereby enhancing overall vehicle safety. Additionally, the implementation of regulations and safety standards that require the integration of such technologies in modern vehicles further propels the demand for advanced steering systems, supporting market growth.
The automotive steering system market trends indicate that the growing demand for electric and autonomous vehicles is contributing substantially to industry expansion. Electric vehicles (EVs) often require specialized steering systems to accommodate unique design features such as lighter weight and improved energy efficiency. Steering systems such as steer-by-wire, which eliminate mechanical linkages and use electronic signals instead, are becoming more prevalent in EVs to enhance performance and reduce weight. Furthermore, the rise of autonomous vehicles requires advanced steering systems capable of responding to automated driving controls. These systems must be precise, responsive, and capable of interacting seamlessly with other vehicle technologies. This shift toward electric and autonomous vehicles is boosting the automotive steering system demand, particularly for innovative and specialized systems.
Technological innovations in steering system technologies are significantly driving the automotive steering system market size. Innovations such as electronic power steering (EPS), which offers improved fuel efficiency and better handling, are becoming increasingly popular in modern vehicles. EPS systems allow for more precise control and reduce the overall weight of the vehicle by eliminating the need for traditional hydraulic systems. Additionally, features such as steer-by-wire, which replace mechanical components with electronic controls, are gaining popularity due to their potential to reduce weight, increase reliability, and offer enhanced flexibility in vehicle design. The continuous development of these advanced steering technologies is enhancing vehicle performance, improving fuel efficiency, and offering more personalized driving experiences, creating a favorable industry outlook overall.
Automotive Steering System Market Report Segmentation:
Breakup By Type:
Based on the type, the market has been segregated into electric power steering (EPS), hydraulic power steering (HPS), electro-hydraulic power steering (EHPS), and manual steering.
Breakup By Component:
On the basis of the component, the market has been categorized into steering column, steering wheel speed sensors, electric motors, hydraulic pumps, and others.
Breakup By Vehicle Type:
Based on the vehicle type, the market has been segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles.
Breakup By Region:
Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
Top Automotive Steering System Market Leaders:
The automotive steering system market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
China Automotive Systems Inc., Denso Corporation, Georgsmarienhütte Holding GmbH, Gss Steering Systems LLC, JTEKT Corporation, Knorr-Bremse AG, Mando Corporation, Mitsubishi Electric Corporation, Nexteer Automotive (Pacific Century Motors), NSK Ltd., Robert Bosch Gmbh, Rollax GmbH & Co. KG and thyssenkrupp AG.
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