Dec 18, 2021   SOURCE: BusinessWire

Global Automotive Steering System Market (2021 to 2028) - Featuring Denso, Hitachi Astemi and Robert Bosch Among Others - ResearchAndMarkets.com

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

The global automotive steering system market is expected to develop with a CAGR of 5.01% during the forecast years from 2021 to 2028.

Companies Mentioned

  • China Automotive Systems Inc
  • Denso Corporation
  • Hitachi Astemo Ltd
  • Honda Motor Company
  • Hyundai Mobis
  • Jtekt Corporation
  • Mando Corporation
  • Mitsubishi Electric Corporation
  • Nexteer Automotive Corporation
  • Nsk Ltd
  • Robert Bosch Gmbh

The stringent fuel efficiency norms are primarily driving the demand for automotive steering systems. Also, a growing demand for more functions in electronic control units is being observed. These factors are propelling the growth of the global market.

On the contrary, the high cost of automotive and the autonomous features in cars are hindering this growth process. However, the increase in automotive production and the growing adoption of electric vehicles indicate an overall positive outlook for the automotive steering system market.

Latin America, the Middle East and Africa, the Asia-Pacific, Europe, and North America together shape the global market for automotive steering systems.

The market in the Asia-Pacific is set to exhibit the fastest growth worldwide in the coming period. Factors such as the presence of a number of market leaders who are increasingly investing heavy sums in electric mobility services are the key factors driving the growth in this market. Additionally, the vast capacity expansion in India and China, increasing per capita income, and the development of the road network are further aiding the automotive steering system market growth in the APAC.

Key Topics Covered:

1. Global 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

2.4. 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. Global 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. Global 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. Global Automotive Steering System Market - Regional Outlook

6. Competitive landscape

7. Research Methodology & Scope

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