1. Market Research
  2. > Automotive
  3. > Auto Part Market Trends
  4. > Global Automotive Steering System 2016-2020

Global Automotive Steering System 2016-2020

  • December 2015
  • -
  • Infiniti Research Limited
  • -
  • 85 pages

Summary

Table of Contents

Search Inside

Outlook of the global automotive steering system market
Technavio’s market research analyst predicts the global automotive steering system market to grow at a steady CAGR of more than 8% by 2020. The integration of driver assistance systems in vehicles and the development of the steer-by-wire steering system will aid in the growth of this market. Since the automotive steering system market is an integral part of the global automobile market, an increase in the global sale of automobiles will foster growth in the steering systems market during the estimated period.
In terms of geography, the APAC region will dominate the market for steering systems during the forecast period. This region will account for a market share of more than 52% as it is the fastest and largest automotive market. This region is also the largest hub for automotive manufacturing activities due to its relaxed government incentives, low cost, and raw material advantages. Also, factors like low-cost labor, government incentives such as tax exemption and subsidy towards local manufacturing, and free-trade agreements with other countries in the region will promote market growth in this region during the predicted period.

Segmentation by end market and analysis of automotive steering system market
- Aftermarket
- OEM

In this market study, analysts have estimated the OEM segment to be the largest market segment during the predicted period. This segment currently accounts for a market share of approximately 77% and is envisaged to retain its dominating hold over the market by 2020 owing to structural changes in terms of electrification of automotive mechanisms, emission regulations, connectivity, and safety. Additionally, factors such as growing investments in the R&D of steer-by-wire technologies will result in the growth of this market segment during the predicted period.

Product-type segmentation of the automotive steering system market
- Hydraulic power steering (HPS)
- Electro-hydraulic power steering (EHPS)
- Electric power steering (EPS)

Technavio market research analysts have estimated the EPS system segment to account for an impressive market share of approximately 59% during the forecast period. Benefits such as its high fuel efficiency and reduction in weight, low development cost, and low energy consumption will foster the prospects for growth in this market segment during the estimated period.


Competitive landscape and key vendors
The global automotive steering system market is fragmented due to the presence of well-diversified global and regional vendors. The competitive environment in this market is expected to intensify with an increase in R&D innovations and M&A activities during the forecast period. The market is also likely to witness a growing trend of local acquisitions by the leading players as it will help them to boost their revenue generating capacity.

Top vendors analyzed in this market study are -
- Bosch
- JTEKY
- Mando
- Nexteer
- TRW
- Thyssen Krupp

Other prominent vendors in the market include Atmel, China Automotive Systems, Denso, Douglas Autotech, Mitsubishi Electric, NSK, Tianjin Jinfeng Automobile Chassis Parts, and Zhjiang Shibao.

Key questions answered in the report
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global automotive steering system?
- What are the key market trends impacting the growth of the automotive steering system?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global automotive steering system?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the automotive steering system?

Technavio also offers customization on reports based on specific client requirement.


Related reports
- Global Automotive Electric Fuel Pump Market 2015-209
- Global Fuel Cell Market 2015-2019

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
Get This Report
24/7 Customer Support

Talk to Ahmad

+1 718 618 4302

Purchase Reports From Reputable Market Research Publishers
Automotive Aftermarket for Top 10 Components, Vehicle Type, and Region - Global Trends & Forecast to 2021

Automotive Aftermarket for Top 10 Components, Vehicle Type, and Region - Global Trends & Forecast to 2021

  • $ 5650
  • Industry report
  • February 2017
  • by MarketsandMarkets

Growing vehicle sales and parc is expected to fuel the automotive aftermarket for top 10 components The automotive aftermarket for top 10 components is projected to grow at a CAGR of 7.75%, to reach a ...

Global Automotive EPS Market - Growth, Trends & Forecast (2017 - 2022)

Global Automotive EPS Market - Growth, Trends & Forecast (2017 - 2022)

  • $ 4250
  • Industry report
  • February 2017
  • by Mordor Intelligence LLP

The automotive electric power assisted steering system market (EPS) is expected to account for $22.8 billion and grow at a CAGR of 13.28% till 2020. The market would be dominated by the European countries ...

Global Automotive Electric Power Steering Systems Market - Growth, Trends and Forecasts (2017 - 2022)

Global Automotive Electric Power Steering Systems Market - Growth, Trends and Forecasts (2017 - 2022)

  • $ 4250
  • Industry report
  • January 2017
  • by Mordor Intelligence LLP

Demand for reducing fuel consumption and logistical benefits drove the automobile manufacturers to shift from the age old hydraulic power steering systems, which has become obsolete due to high fuel consumption, ...


ref:plp2015

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.