HOME Top Market Reports Automotive Steering Systems Market by Vehicle Type (Passenger Car, LCV, & HCV), System Type (Manual, HPS, EHPS & EPS), Safety Features (With ABS/ESP & Without ABS/ESP), & Geography - Industry Trends & Forecast to 2018

Automotive Steering Systems Market by Vehicle Type (Passenger Car, LCV, & HCV), System Type (Manual, HPS, EHPS & EPS), Safety Features (With ABS/ESP & Without ABS/ESP), & Geography - Industry Trends & Forecast to 2018

By: marketsandmarkets.com
Publishing Date: July 2014
Report Code: AT 2510

 

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Steering systems are installed in order to maneuver a vehicle. Ever since the inception of the motor vehicles, steering systems have been the main stay of their maneuverability and agility. Over the history of the automotive industry, steering systems have evolved from being rigid and strenuous manual to more sophisticated, easy to use and reliable assisted systems. Modern day steering systems use various assistance systems to provide better directional stability and agility to a vehicle. Products in the automotive steering systems market are categorized into two basic categories, namely, manual and assisted steering systems. Assisted steering systems are further classified into three main types, namely, hydraulically assisted (HAPS/HPS), electro-hydraulic assisted (EHAPS/EHPS) and electrically assisted (EAPS/EPS). The HPS system makes use of pressurized hydraulic fluid and a pump to steer the vehicle at ease; whereas an EPS system works with the help of electric motor, an ECU, and sensors. In order to function, the HPS system draws power from the engine, whereas the EPS system makes use of the electrical energy from the battery, thus, increasing the fuel efficiency of the vehicle. Due to the benefits offered by the EPS system, it has been widely adopted in the regions of Europe and North America. Also, the fuel economy and emission standard in these regions have been forcing the automobile manufacturers to adopt the EPS system in most of the vehicle models. The adoption rate of these systems is increasing at a good pace in the Asia-Oceania and ROW regions. As their prices are slowly dropping, these systems becoming a standard feature in most of the vehicles manufactured in the emerging regions.

This report classifies and defines the market in terms of volume and value in the automotive industry. It also provides qualitative data about the steering systems and components. The report also provides a comprehensive review of market drivers, restraints, opportunities, challenges and key issues in the automotive steering systems market. The key players in the market for both the technologies have also been identified and profiled.

Automotive Steering System Market Size, by Geography, 2011-2018 ($Million)

Automotive Steering System Market

Source: Secondary Research, Industry Associations, Expert Interviews and MarketsandMarkets Analysis

This report describes the market based on the vehicle type (passenger cars, LCVs & HCVs), system type (manual, hydraulic power (HPS), electro-hydraulic power (EHPS) &electric power (EPS)), safety features (with & without anti-lock braking system (ABS)/electronic stability program (ESP)), and geography (Asia-Oceania, Europe, North America, and ROW). Apart from quantitative analysis of these markets, the report also covers qualitative aspects like market dynamics, value chain, and Porter’s five forces analysis.

The report features profiles of the top players in the automotive steering systems market covering their market presence, financial health, product offerings in the segment and further insights into their strategies and recent market developments associated with individual players.

Automotive steering systems market is dominated by few global players and many small/medium players. Few of the key players are JTEKT Corp. (Japan), ZF Lenksysteme (Germany), TRW Automotive (U.S.), NSK Ltd. (Japan), Nexteer Automotive (U.S.), Thyssenkrupp Presta AG (Germany), Mando Corp. (South Korea), etc.

Scope of the Report

The automotive steering systems market size has been analyzed in terms of volume and value based on the segmentation given below.

  • By Vehicle Type
    • Passenger cars
    • LCVs
    • HCVs
  • By Steering System Type
    • Manual Steering System
    • Hydraulic Power Steering (HPS) System
    • Electro-Hydraulic Power Steering (EHPS) System
    • Electric Power Steering (EPS) System
  • By Safety Features
    • With ABS/ESP
    • Without ABS/ESP
  • By Geography
    • Asia-Oceania
    • Europe
    • North America
    • ROW

Table of Contents
 
1 Introduction (Page No. - 20)
    1.1 Objectives of the Study
    1.2 Report Description
          1.2.1 EPS System to Witness High Growth in Adoption Rates in the Next Five Years
    1.3 Markets Covered
          1.3.1 By Region
                   1.3.1.1 Asia-Oceania
                   1.3.1.2 Europe
                   1.3.1.3 North America
                   1.3.1.4 ROW
          1.3.2 By Type
                   1.3.2.1 Manual Steering System
                   1.3.2.2 Hydraulic Power Steering (HPS) System
                   1.3.2.3 Electro-Hydraulic Power Steering (EHPS) System
                   1.3.2.4 Electric Power Steering (EPS) System
          1.3.3 By Vehicle Type
                   1.3.3.1 Passenger Cars
                   1.3.3.2 Light Commercial Vehicles
                   1.3.3.3 Heavy Commercial Vehicles
          1.3.4 By Safety Features
                   1.3.4.1 With ABS/ESP
                   1.3.4.2 Without ABS/ESP
    1.4 Stakeholders
    1.5 Research Methodology
          1.5.1 Market Size
                   1.5.1.1 Methodology
                               1.5.1.1.1 Market Size
          1.5.2 Key Secondary Sources
          1.5.3 Key Data Taken From Primary & Secondary Sources
          1.5.4 Assumptions Made for the Report

2 Executive Summary (Page No. - 34)

3 Premium Insights (Page No. - 37)
    3.1 Market Segmentation
    3.2 Market Overview
          3.2.1 Automotive Steering System Market Size, By Region
          3.2.2 Automotive Steering System Market Size, By Vehicle Type
          3.2.3 Automotive Steering System Market Size, By Type
          3.2.4 Automotive Steering System Market Size, By Safety Features
    3.3 Major Players’ Market Share

4 Market Overview (Page No. - 45)
    4.1 Introduction
    4.2 Market Dynamics
          4.2.1 Drivers
                   4.2.1.1 Fuel-Efficiency
                   4.2.1.2 Localization of Production
                   4.2.1.3 Ease While Driving
          4.2.2 Restraint
                   4.2.2.1 High Cost of EPS System
          4.2.3 Opportunities
                   4.2.3.1 Emerging Markets
                   4.2.3.2 New Vehicle Launches
                   4.2.3.3 Development of Low Cost, Lightweight, and Less Power Consuming Technologies
    4.3 Burning Issue
          4.3.1 Steer-By-Wire Technology: Future of Steering System 
    4.4 Winning Imperative
          4.4.1 Driver-Assist Functionality, Power Consumption Benefits, & Lighter Components
    4.5 Porters’ Five forces Analysis
          4.5.1 Bargaining Power of Suppliers
          4.5.2 Threat of Substitutes
          4.5.3 Threat of New Entrants
          4.5.4 Bargainiing Power of Buyers
          4.5.5 Degree of Competition
    4.6 Value Chain Analysis
    4.7 Market Share Analysis

5 Technology Overview (Page No. - 61)
    5.1 Introduction
    5.2 Types of Steering Systems
          5.2.1 Manual Steering System
                   5.2.1.1 Rack & Pinion Steering System
                   5.2.1.2 Cam & Lever Steering System
                   5.2.1.3 Re-Circulating Ball Steering System
                   5.2.1.4 Worm & Roller System
                   5.2.1.5 Worm & Sector System
          5.2.2 Assisted/Power Steering Sysytem
                   5.2.2.1 Hydraulically Assisted/Power Steering System
                   5.2.2.2 Electro-Hydraulically Assisted/Power Steering System
                   5.2.2.3 Electrically Assisted/Power Steering System
          5.2.3 Working of Electrically Assisted/Power Steering (Eaps/EPS)
    5.3 Safety Features In Steering System
          5.3.1 Steering System With ABS & Esp
                   5.3.1.1 Anti-Lock Braking System (ABS) 
                               5.3.1.1.1 Components
                               5.3.1.1.2 Types 
                               5.3.1.1.3 Working
                   5.3.1.2 Electronic Stability Program (Esp)
          5.3.2 Steering System Without ABS & Esp
          5.3.3 Steering Technology Road Map
    5.4 Future Technologies
          5.4.1 Steer-By-Wire
                   5.4.1.1 Working
                   5.4.1.2 Advantages
                   5.4.1.3 Disadvantages
                   5.4.1.4 Oems Looking Forward for Adopting the Steer-By-Wire Technology

6 Automotive Steering System Market, By Region (Page No. - 76)
    6.1 Introduction
    6.2 Market By Region
          6.2.1 Market Estimates (Volume)
          6.2.2 Market Estimates (Value)
          6.2.3 Asia-Oceania
                   6.2.3.1 China, India & Japan: Potential Steering System Markets
                   6.2.3.2 Market Estimates (Volume), By Country
                   6.2.3.3 Market Estimates (Value), By Country
                   6.2.3.4 China
                               6.2.3.4.1 Largest Market With High-Growth Outlook
                               6.2.3.4.2 Market Estimates (Volume), By Type
                               6.2.3.4.3 Market Estimates (Value), By Type
                   6.2.3.5 Japan
                               6.2.3.5.1 Market Estimates (Volume), By Type
                               6.2.3.5.2 Market Estimates (Value), By Type
                   6.2.3.6 South Korea
                               6.2.3.6.1 Market Estimates (Volume), By Type
                               6.2.3.6.2 Market Estimates (Value), By Type
                   6.2.3.7 India
                               6.2.3.7.1 Market Estimates (Volume), By Type
                               6.2.3.7.2 Market Estimates (Value), By Type
          6.2.4 Europe
                   6.2.4.1 Market Estimates (Volume), By Country
                   6.2.4.2 Market Estimates (Value), By Country
                   6.2.4.3 Germany
                               6.2.4.3.1 Market Estimates (Volume), By Type
                               6.2.4.3.2 Market Estimates (Value), By Type
                   6.2.4.4 France
                               6.2.4.4.1 Market Estimates (Volume), By Type
                               6.2.4.4.2 Market Estimates (Value), By Type
                   6.2.4.5 U.K.
                               6.2.4.5.1 Market Estimates (Volume), By Type
                               6.2.4.5.2 Market Estimates (Value), By Type
          6.2.5 North America
                   6.2.5.1 U.S.: Largest Market for the EPS System
                   6.2.5.2 Market Estimates (Volume), By Country
                   6.2.5.3 Market Estimates (Value), By Country
                   6.2.5.4 U.S.
                               6.2.5.4.1 Market Estimates (Volume), By Type
                               6.2.5.4.2 Market Estimates (Value), By Type
                   6.2.5.5 Canada
                               6.2.5.5.1 Market Estimates (Volume), By Type
                               6.2.5.5.2 Market Estimates (Value), By Type
                   6.2.5.6 Mexico
                               6.2.5.6.1 Market Estimates (Volume), By Type
                               6.2.5.6.2 Market Estimates (Value), By Type
          6.2.6 ROW
                   6.2.6.1 Market Estimates (Volume), By Country
                   6.2.6.2 Market Estimates (Value), By Country
                   6.2.6.3 Brazil
                              6.2.6.3.1 Market Estimates (Volume), By Type
                              6.2.6.3.2 Market Estimates (Value), By Type
                   6.2.6.4 Russia
                               6.2.6.4.1 Market Estimates (Volume), By Type
                               6.2.6.4.2 Market Estimates (Value), By Type
                   6.2.6.5 South Africa
                               6.2.6.5.1 Market Estimates (Volume), By Type
                               6.2.6.5.2 Market Estimates (Value), By Type

7 Automotive Steering System Market, By Type (Page No. - 123)
    7.1 Introduction
    7.2 Market By Type
          7.2.1 Market Estimates (Volume)
          7.2.2 Market Estimates (Value)
    7.3 Manual Steering System Market
          7.3.1 By Region
                   7.3.1.1 Market Estimates (Volume)
                   7.3.1.2 Market Estimates (Value)
          7.3.2 By Vehicle Type
                   7.3.2.1 Market Estimates (Volume)
                   7.3.2.2 Market Estimates (Value)
    7.4 Hydraulically Assisted Power Steering System (HPS/Haps) Market
          7.4.1 By Region
                   7.4.1.1 Market Estimates (Volume)
                   7.4.1.2 Market Estimates (Value)
          7.4.2 By Vehicle Type
                   7.4.2.1 Market Estimates (Volume)
                   7.4.2.2 Market Estimates (Value)
    7.5 Electro-Hydraulically Assisted Power Steering System (EHPS/Ehaps) Market
          7.5.1 By Region
                   7.5.1.1 Market Estimates (Volume)
                   7.5.1.2 Market Estimates (Value)
          7.5.2 By Vehicle Type
                   7.5.2.1 Market Estimates (Volume)
                   7.5.2.2 Market Estimates (Value)
    7.6 Electrically Assisted Power Steering System (EPS/Eaps) Market
          7.6.1 By Region
                   7.6.1.1 Market Estimates (Volume)
                   7.6.1.2 Market Estimates (Value)
          7.6.2 By Vehicle Type
                   7.6.2.1 Market Estimates (Volume)
                   7.6.2.2 Market Estimates (Value)

8 Automotive Steering System Market, By Vehicle Type (Page No. - 148)
    8.1 Introduction
    8.2 Market By Vehicle Type
          8.2.1 Market Estimates (Volume)
          8.2.2 Market Estimates (Value)
          8.2.3 Passenger Car
                   8.2.3.1 Market By Type
                               8.2.3.1.1 Market Estimates (Volume)
                               8.2.3.1.2 Market Estimates (Value)
                   8.2.3.2 Market By Region
                               8.2.3.2.1 Market Estimates (Volume)
                               8.2.3.2.2 Market Estimates (Value)
          8.2.4 Light Commercial Vehicle (LCV)
                   8.2.4.1 Market By Type
                               8.2.4.1.1 Market Estimates (Volume)
                               8.2.4.1.2 Market Estimates (Value)
                   8.2.4.2 Market By Region
                               8.2.4.2.1 Market Estimates (Volume)
                               8.2.4.2.2 Market Estimates (Value)
          8.2.5 Heavy Commercial Vehicle (HCV)
                   8.2.5.1 Market By Type
                               8.2.5.1.1 Market Estimates (Volume)
                               8.2.5.1.2 Market Estimates (Value)
                   8.2.5.2 Market By Region
                               8.2.5.2.1 Market Estimates (Volume)
                               8.2.5.2.2 Market Estimates (Value)

9 Automotive Steering System Market, By Safety Features (Page No. - 171)
    9.1 Introduction
    9.2 Market By Safety Features
          9.2.1 Automotive Steering System With Safety Features Market (Volume)
          9.2.2 Automotive Steering System Without Safety Features Market (Volume)

10 Competitive Landscape (Page No. - 178)
     10.1 Introduction
     10.2 Market Players
            10.2.1 Automotive Steering System Manufacturers
                     10.2.1.1 Company’s Relative Market Position, By Region
            10.2.2 Key Growth Strategies

11 Company Profiles (Page No. - 185)
     (Overview, Financial*, Products & Services, Strategy, and Developments) 
     11.1 China Automotive Systems Inc.
     11.2 Hyundai Mobis Co., Ltd.
     11.3 Jtekt Corporation
     11.4 Mando Corp.
     11.5 Mitsubishi Electric Corporation
     11.6 Nexteer Automotive Group Ltd.
     11.7 NSK Ltd.
     11.8 Thyssenkrupp AG
     11.9 TRW Automotive Holdings Corp.
     11.1 ZF Friedrichshafen AG

*Details Might Not Be Captured in Case of Unlisted Companies. 

12 Annexure (Page No. - 221)


List of Tables (90 Tables) 

Table 1 Automotive Steering System Market: Research Methodology
Table 2 Automotive Steering System: Raw Material Providers, Component & System Manufacturers, and End Users
Table 3 Major Players in the Steering System Market
Table 4 Automotive Oems & their Models With the Steer-By-Wire Technology
Table 5 Automotive Steering System Market Size, By Region, 2011-2018 ('000 Units) 
Table 6 Automotive Steering System Market Size, By Region, 2011-2018 ($Million) 
Table 7 Asia-Oceania: Automotive Steering System Market Size, By Country, 2011-2018 ('000 Units) 
Table 8 Asia-Oceania: Automotive Steering System Market Size, By Country, 2011-2018 ($Million) 
Table 9 China: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 10 China: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 11 Japan: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units) 
Table 12 Japan: Automotive Steering System Market Size, By Type, 2011-2018 ($Million) 
Table 13 South Korea: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units) 
Table 14 South Korea: Automotive Steering System Market Size, By Type, 2011-2018 ($Million) 
Table 15 India: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units) 
Table 16 India: Automotive Steering System Market Size, By Type, 2011-2018 ($Million) 
Table 17 Europe: Automotive Steering System Market Size, By Country, 2011-2018 ('000 Units)
Table 18 Europe: Automotive Steering System Market Size, By Country, 2011-2018 ($Million)
Table 19 Germany: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 20 Germany: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 21 France: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 22 France: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 23 U.K: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units) 
Table 24 U.K: Automotive Steering System Market Size, By Type, 2011-2018 ($Million) 
Table 25 North America: Automotive Steering System Market Size, By Country, 2011-2018 ('000 Units) 
Table 26 North America: Automotive Steering System Market Size, By Country, 2011-2018 ($Million) 
Table 27 U.S: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units) 
Table 28 U.S: Automotive Steering System Market Size, By Type, 2011-2018 ($Million) 
Table 29 Canada: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 30 Canada: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 31 Mexico: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 32 Mexico: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 33 ROW: Automotive Steering System Market Size, By Country, 2011-2018 ('000 Units)
Table 34 ROW: Automotive Steering System Market Size, By Country, 2011-2018 ($Million)
Table 35 Brazil: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 36 Brazil: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 37 Russia: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units)
Table 38 Russia: Automotive Steering System Market Size, By Type, 2011-2018 ($Million)
Table 39 South Africa: Automotive Steering System Market Size, By Type, 2011-2018 ('000 Units) 
Table 40 South Africa: Automotive Steering System Market Size, By Type, 2011-2018 ($Million) 
Table 41 Automotive Steering System Market Size, By Type, 2011–2018 (‘000 Units) 
Table 42 Automotive Steering System Market Size, By Type, 2011–2018 ($Million) 
Table 43 Manual Steering System Market Size, By Region, 2011–2018 ('000 Units) 
Table 44 Manual Steering System Market Size, By Region, 2011–2018 ($Million) 
Table 45 Manual System Market Size, By Vehicle Type, 2011–2018 ('000 Units) 
Table 46 Manual System Market Size, By Vehicle Type, 2011–2018 ($Million) 
Table 47 HPS System Market Size, By Region, 2011–2018 ('000 Units)
Table 48 HPS System Market Size, By Region, 2011–2018 ($Million)
Table 49 HPS System Market Size, By Vehicle Type, 2011–2018 ('000 Units) 
Table 50 HPS System Market Size, By Vehicle Type, 2011–2018 ($Million)
Table 51 EHPS System Market Size, By Region, 2011–2018 ('000 Units)
Table 52 EHPS System Market Size, By Region, 2011–2018 ($Million)
Table 53 EHPS System Market Size, By Vehicle Type, 2011–2018 ('000 Units) 
Table 54 EHPS System Market Size, By Vehicle Type, 2011–2018 ($Million)
Table 55 EPS System Market Size, By Region, 2011–2018 ('000 Units)
Table 56 EPS System Market Size, By Region, 2011–2018 ($Million)
Table 57 EPS System Market Size, By Vehicle Type, 2011–2018 ('000 Units)
Table 58 EPS System Market Size, By Vehicle Type, 2011–2018 ($Million)
Table 59 Automotive Steering System Market Size, By Vehicle Type, 2011–2018 (‘000 Units)
Table 60 Automotive Steering System Market Size, By Vehicle Type, 2011–2018 ($Million)
Table 61 Passenger Car Steering System Market Size, By Type, 2011–2018 ('000 Units) 
Table 62 Passenger Car Steering System Market Size, By Type, 2011–2018 ($Million) 
Table 63 Passenger Car Steering System Market Size, By Region, 2011–2018 ('000 Units) 
Table 64 Passenger Car Steering System Market Size, By Region, 2011–2018 ($Million) 
Table 65 LCV Steering System Market Size, By Type, 2011–2018 ('000 Units) 
Table 66 LCV Steering System Market Size, By Type, 2011–2018 ($Million)
Table 67 LCV Steering System Market Size, By Region, 2011–2018 ('000 Units) 
Table 68 LCV Steering System Market Size, By Region, 2011–2018 ($Million) 
Table 69 HCV Steering System Market Size, By Type, 2011–2018 ('000 Units) 
Table 70 HCV Steering System Market Size, By Type, 2011–2018 ($Million) 
Table 71 HCV Steering System Market Size, By Region, 2011–2018 ('000 Units) 
Table 72 HCV Steering System Market Size, By Region, 2011–2018 ($Million) 
Table 73 Automotive Steering System Market Size, By Safety Features, 2011–2018 (‘000 Units)
Table 74 Automotive Steering System With Safety Features (ABS/ESP) Market Size, 2011–2018 (‘000 Units)
Table 75 Automotive Steering System Without Safety Features (ABS/ESP) Market Size, 2011–2018 (‘000 Units)
Table 76 Automotive Steering System: Manufacturers & their Products
Table 77 China Automotive Systems: Facilities & Products Manufactured
Table 78 Hyundai Mobis: Segments & their Products
Table 79 Jtekt Corporation: Products & their Types
Table 80 Mando Corp.: Segments & Their Products
Table 81 Mitsubishi Electric Corp.: Product & Its Components
Table 82 Nexteer Automotive: Segments & Their Products
Table 83 NSK Ltd.: Segments & Their Products
Table 84 Thyssenkrupp AG: Categories & Their Products
Table 85 TRW Automotive Holdings Corp.: Products & Their Types/Components
Table 86 ZF Friedrichshafen AG: Vehicle Types & Their Products
Table 87 New Product Developments/Launches & R&D
Table 88 Supply Contracts
Table 89 Agreements, Partnerships & Joint Ventures
Table 90 Expansions & Others


List of Figures (42 Figures)

Figure 1 Global Automotive Steering System Market Size, By Type & Vehicle Type, 2011–2018 ($Million)
Figure 2 Automotive Steering System Market Segmentation
Figure 3 Automotive Steering System Market Share (Value), By Segmentation, 2012 
Figure 4 Automotive Steering System Market Size, By Region, 2011–2018 ($Million) 
Figure 5 Automotive Steering System Market Size, By Vehicle Type, 2011–2018 ($Million)
Figure 6 Automotive Steering System Market Snapshot (Value), By Type, 2011–2018 ($Million) 
Figure 7 Automotive Steering System Market Size, By Safety Features, 2011–2018 ($Million)
Figure 8 Automotive Steering System Market Share (Value), By Company, 2012 
Figure 9 Impact Analysis of Drivers & Restraints
Figure 10 Impact of Major Drivers
Figure 11 Impact of Major Restraint
Figure 12 Automotive Steering System Market: Porters’ Five forces Analysis
Figure 13 Automotive Steering System: Value Chain Analysis
Figure 14 Steering System Market Share (Value), By Company, 2012 
Figure 15 Rack & Pinion Steering System & Its Components
Figure 16 Cam & Lever Steering Gear & Its Components
Figure 17 Re-Circulating Ball System & Its Components
Figure 18 Worm & Roller System & Its Components
Figure 19 Layout of Electric Power Steering (EPS) System
Figure 20 Working of ABS
Figure 21 Evolution of Steering System
Figure 22 Automotive Steering System Market Share (Volume), By Region, (2011 Vs. 2012) 
Figure 23 Automotive Steering System Market Size, By Region, 2011–2018 ($Million) 
Figure 24 Automotive Steering System Market Share (Value), By Region, 2013 Vs. 2018
Figure 25 Asia-Oceania Automotive Steering System Market Share (Value), By Country, 2013 Vs. 2018
Figure 26 Europe: Steering System Market Share (Value), By Country, 2013 Vs. 2018
Figure 27 North America: Automotive Steering System Market Share (Value), By Country, 2013 Vs. 2018
Figure 28 ROW: Automotive Steering System Market Share (Value), By Country, 2013 Vs. 2018 
Figure 29 Automotive Steering System Market Share (Value), 2013 Vs. 2018 & Market Size, 2011–2018 ($Million) 
Figure 30 Manual System Market Share (Value), By Region, 2013 Vs. 2018
Figure 31 HPS System Market Share (Value), By Region, 2013 Vs. 2018
Figure 32 EHPS System Market Share (Value), By Region, 2013 Vs. 2018
Figure 33 EPS System Market Share (Value), By Region, 2013 Vs. 2018
Figure 34 Automotive Steering System Market Share (Volume), 2013 Vs. 2018 & Market Size, (‘Ooo Units), 2011–2018 
Figure 35 Passenger Car Steering System Market Share (Value), By Type, 2013 Vs. 2018 
Figure 36 LCV Steering System Market Share (Value), By Type, 2013 Vs. 2018 
Figure 37 HCV Steering System Market Share (Value), By Type, 2013 Vs. 2018 
Figure 38 Automotive Steering System Market Share (Volume), By Safety Features, 2013 Vs. 2018 
Figure 39 Automotive Steering System With Safety Features (ABS/ESP) Market Share (Volume), 2013–2018
Figure 40 Automotive Steering System Manufacturers, By Region
Figure 41 Automotive Steering System Market, Key Growth Strategies, 2011–2014
Figure 42 Automotive Steering System Market, By Key Growth Strategies, 2011-2014

The automotive steering systems market is estimated to reach $32.4 billion by 2018, at a projected CAGR of 6.47%, indicating a steady growth in the coming years.

The steering system is in simpler words the most important line of communication between the vehicle and its driver. Ever since the inception of the motor vehicle, steering systems have been the main stay of the vehicle’s (Copied from RD) maneuverability and agility. In the era of active safety systems like anti-lock braking system (ABS), electronic stability program (ESP) and others, steering system’s safety value has gone unnoticed but there’s no denying that steering is one of the most crucial aspects of a vehicle’s safety. A vehicle with ABS, ESP or any of the safety features is just as likely to be involved in a mishap as one without these features if it is not steered in the proper direction.

Over the history of the automotive industry, steering systems have evolved from being (Copied from RD) “exercise equipment” for your arms to being precise and effortless guidance systems. Modern day steering systems use various assistance systems to provide better feedback and agility to a vehicle. (Copied from RD) These systems use hydraulic, electric or electro-hydraulic components in conjunction with mechanical components of the steering system to provide the driver with an effortless steering and ease of maneuvering in tight situations.

Developed regions like North America and Europe are estimated to show a stable growth in the coming years, as more than 95% of the vehicles produced every year are equipped with power steering systems as standard equipment. This is mainly due to the need for increased comfort while driving and help reduce the overall weight of the vehicle in order to achieve increase in fuel economy. In the coming years, the EPS systems is expected to replace other systems at a rapid pace and dominate the market by the end of 2018 owing to its light weight and no consumption of energy from the engine. Asia-Oceania and ROW regions include several developing countries such as China, India, South Korea, Brazil and South Africa, where industries are growing at a significant growth rate. Increase in purchasing power, changing standard of living, growing GDP and increase in employment have given rise to growth in automobile sector in the aforementioned countries.

As automotive steering systems market is directly linked to the automobile industry, it would show a similar growth trend as that of automobile production across the world. Introduction of less fuel consuming, light and compact steering systems like EPS and the future “steer by wire” technology, the overall market trend for steering systems appears promising for the next five years.

The global automotive steering systems market is dominated by few top players such as JTEKT Corp. (Japan), ZF Lenksysteme (Germany), TRW Automotive (U.S.), NSK Ltd. (Japan), Nexteer Automotive (U.S), Thyssenkrupp Presta AG (Germany), and Mando Corp. (South Korea).

This report covers the market for automotive steering systems based on Vehicle Type (Passenger Cars, LCVs and HCVs), System Type (Manual, HPS, EHPS, and EPS), Safety Features (With and Without ABS/ESP), and Geography (Asia-Oceania, Europe, North America, and Rest of the World (ROW)). All the market size estimates given are in terms of volume (‘000 Units) and value ($million).

Automotive Steering Systems Market Size, by System Type, 2013 Vs 2018 ($Million)

Automotive Steering System Market

Source: Secondary Research, Industry Associations, Expert Interviews, and MarketsandMarkets Analysis

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