Press release
Automotive Steering Systems Market Expected To Reach US$39.1 bn by 2021
This research study analyzes the automotive steering systems market on a global level and provides estimates in terms of revenue (USD) from 2015 to 2021. It gives a comprehensive overview of the automotive Steering Systems industry from all the important aspects of the market. It recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the coming years.
Steering systems in automobile is the direct contact of the driver with its vehicle. The function of steering systems is to maneuver the vehicle to avoid obstacles or take a turn. Steering Systems are of basically three types such as Hydraulic Power Steering (HPS), Electronic Power Steering (EPS) and Electro-Hydraulic Power Steering (EHPS). Electronic Power Steering offers better mileage and is much easier to operate than hydraulic power steering. An Electro-Hydraulic Power Steering system combines the advantages of both EPS and HPS and offers the best maneuverability and fuel efficiency.
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Rising fuel prices has led the consumers to go for more fuel efficient vehicles, which in turn is fueling the demand for hydraulic power steering and electro-hydraulic power steering system over hydraulic power steering system. Safety features such as Electronic Stability Control (ESC), Anti-Lock Braking System (ABS) integrated with electronic steering systems is also fueling the demand for Electronic Power Steering and Electro-Hydraulic Power Steering system over Hydraulic Power Steering system.
The increase in the demand for passenger vehicles in the developing nations such as India, China and Japan among others has fuelled the growth of passenger vehicle segment in the world. With the rise of passenger vehicles, the demand for steering systems manufacturers is also set to increase globally. Erratic fuel prices have led to shift in automobile OEM’s preference from Hydraulic Power Steering fitted vehicles to Electronic Power Steering and Electro-Hydraulic Power Steering fitted vehicles which manages better fuel efficiency.
Europe holds the largest market share in the automotive steering systems market followed by North America, Asia Pacific and Rest of the World (RoW). Due to the saturation in the markets of North America, and Europe, the automotive steering systems market is expected to witness a stable growth. In Asia Pacific the automotive steering systems market would be the maximum in the Asia Pacific region due to high sales of automobiles in the region. Moreover, increasing production of automobiles in countries such as China, Japan, South Korea and India is another factor contributing to the demand for automotive steering systems in these regions.
This report provides tactical analysis of the automotive steering systems market and the growth forecast for the period 2015 to 2021. The span of the report includes competitive analysis of various market segments based on the vehicle types, steering systems types and in detail cross sectional analysis of the automotive steering systems market across diverse geographic segments. To maintain the strategic decision making, the report also includes profiling of leading players in the industry, their market share and various strategy adopted by them. The market attractiveness analysis is also included in the report to provide imminent market dynamics and market competition.
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The report also provides company market share analysis of the various industry participants along with company overview, financial overview, business strategies and recent developments in the field of automotive lighting system market. Major market participants profiled in this report include TRW Automotive Holdings (U.S.), Mitsubishi Electric Corporation (Japan), Hyundai Mobis Co. Ltd (South Korea), Sona Koyo Steering Systems Ltd (India), Robert Bosch Automotive Steering GmbH (Germany), JTEKT Corporation (Japan), Nexteer Automotive (U.S.), Thyssenkrupp Presta AG Aktiengesellschaft (U.S.), China Automotive Systems Inc. (China) and ZF Friedrichshafen Manufacturing Company (Germany).
The report segments the Automotive Steering Systems market as follows:
Global Automotive Steering Systems Market: By Vehicle Type
Heavy Commercial Vehicle (HCV)
Light Commercial Vehicle (LCV)
Passenger Vehicle
Global Automotive Steering Systems Market: By Steering Systems type
Electronic Power Steering (EPS)
Electro-Hydraulic Power Steering (EHPS)
Hydraulic Power Steering (HPS)
The report provides cross-sectional analysis of all the above mentioned segments with respect to the below mentioned regions:
Global Automotive Steering Systems Market: By Geography/ Country
North America
U.S.A
Canada
Mexico
Europe
Germany
U.K
Italy
France
Rest Of Europe
Asia Pacific
China
India
Japan
South Korea
Rest Of Asia Pacific
Rest of the World
South America
Middle East
Africa
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Table Of Contents
Chapter 1 Preface
1.1 Report Description
1.2 Research Scope
1.3 Research Methodology
Chapter 2 Executive Summary
Chapter 3 Market Overview
3.1 Introduction
3.2 Value Chain Analysis
3.2.1 Parts and Components Suppliers
3.2.2 Steering Systems Assemblers and Manufacturers
3.2.3 Automobile Manufacturers
3.3 Market Dynamics
3.3.1 Market Drivers for Electronic Power Steering
3.3.1.1 Growth of automotive Sector in Emerging Markets
3.3.1.2 Increasing demand for fuel efficient vehicles
3.3.2 Market Drivers for Electro Hydraulic Power Steering
3.3.2.1 Better Road Feedback
3.3.2.2 Fuel Efficient
3.3.3 Market Restraints
3.3.3.1 Market Restraints for Electro Hydraulic Power Steering
3.3.3.2 Market Restraints for Electronic Power Steering
3.3.4 Market Restraints for Hydraulic Power Steering
3.3.5 Market Opportunities
3.3.5.1 Steer- By-Wire
3.4 Automotive Steering Systems: Market Attractiveness Analysis
3.5 Competitive Landscape
3.5.1 Automotive Steering Systems Market: Market Positioning of Key Players
3.5.2 Competitive Strategies Adopted by Leading Players
Chapter 4 Global Automotive Steering Systems Market Revenue, by Vehicle Type, 2015 – 2021 (USD Billion)
4.1 Overview
4.1.1 Global Automotive Steering Systems Market Revenue Share, By Vehicle Type, 2014 - 2021
4.2 Heavy Commercial Vehicle
4.2.1 Global Heavy Commercial Vehicle Market Revenue and Forecast, 2014 – 2021, (USD Billion)
4.3 Light Commercial Vehicle
4.3.1 Global Light Commercial Vehicle Market Revenue and Forecast, 2014 – 2021, (USD Billion)
4.4 Passenger Vehicle
4.4.1 Global Passenger Vehicle Market Revenue and Forecast, 2014 – 2021, (USD Billion)
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