Jan 5, 2022   SOURCE: BusinessWire

North America Automotive Steering System Market to 2028 - Growing Number of Electric Vehicles Presents Opportunities - ResearchAndMarkets.com

The "North America Automotive Steering System Market 2021-2028" report has been added to ResearchAndMarkets.com's offering.

As per this report, the North America automotive steering system market is anticipated to develop with a CAGR of 4.19% by revenue, during the forecast period between 2021 and 2028. The United States and Canada together form the market in this region.

In 2018, the United States exported 1.8 million light vehicles and 131,200 medium & heavy trucks to over 200 markets worldwide, with additional exports of auto parts. With a huge consumer market, well-equipped infrastructure, favorable investment policies, a highly skilled workforce, and favorable government incentives, the United States has become a premier market for the 21st-century automotive industry. This will influence the demand for steering systems in the coming years.

Also, according to Nexteer Automotive, a leading automobile steering manufacturing company in North America, R-EPS captures over 90% of the full-size truck market in the region. A high demand for powerful light commercial vehicles in the United States is thus expected to further propel the growth of the R-EPS segment here.

In addition, Canada is one of the leading producers of light vehicles across the world. Five global original equipment manufacturers, Toyota, Honda, Stellantis, GM, and Ford, assemble over 1.4 million vehicles at their Canadian plants each year. This indicates a positive outlook for the Canadian automotive market, which, in turn, will aid the demand for automotive steering systems in the country in the coming period.

The dominant players in the automotive steering system market are Mitsubishi Electric Corporation, Denso Corporation, JTEKT Corporation, Robert Bosch GmbH, Honda Motor Company, and Nexteer Automotive Corporation.

Key Topics Covered:

1. North America Automotive Steering System Market - Summary

2. Industry Outlook

2.1. Impact Of Covid-19 On the Automotive Steering System Industry

2.2. Key Insights

2.2.1. Adoption Of Sensors

2.2.2. Adas (Advanced Driver Assistance Systems) Adoption In Automotive

2.2.3. Usage Of Technologically Advanced Eps

2.3. Porter's Five Forces Analysis

2.3.1. Threat Of New Entrants

2.3.2. Threat Of Substitute

2.3.3. Bargaining Power Of Buyers

2.3.4. Bargaining Power Of Suppliers

2.3.5. Threat Of Competitive Rivalry

2.4. Market Attractiveness Index

2.5. Vendor Scorecard

2.6. Key Impact Analysis

2.6.1. Fuel Consumption

2.6.2. Co2 Emission

2.6.3. Maintenance

2.7. Key Market Strategies

2.7.1. Product Launches

2.7.2. Contracts & Partnerships

2.7.3. Business Expansions & Divestitures

2.8. Market Drivers

2.8.1. Growing Demand For More Functions In Electronic Control Unit (Ecu)

2.8.2. Stringent Fuel Efficiency Norms

2.9. Market Challenges

2.9.1. High Cost Of Automotive

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. North America Automotive Steering System Market Outlook - by Vehicle Type

3.1. Ice-Driven

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. North America Automotive Steering System Market Outlook - by Type

4.1. Electric Steering System

4.1.1. Electric Power Steering System by Type

4.1.1.1. Column-Assist Type (C-Eps)

4.1.1.2. Pinion-Assist Type (P-Eps)

4.1.1.3. Direct Drive Type (D-Eps)

4.1.1.4. Rack-Assist Type (R-Eps)

4.1.2. Electric Power Steering System by Components

4.1.2.1. Steering Rack/Column

4.1.2.2. Sensor

4.1.2.3. Steering Motor

4.1.2.4. Other Component Types

4.2. Hydraulic Steering System

4.3. Electro-Hydraulic

4.4. Steer by Wire

5. North America Automotive Steering Systems Market - Regional Outlook

5.1. United States

5.2. Canada

6. Competitive landscape

7. Research Methodology & Scope

For more information about this report visit https://www.researchandmarkets.com/r/smriy1