Automotive Steering Systems Market Size is Valued at USD 36.94 Billion in 2023, and is Projected to Reach USD 44.31 Billion by 2032, Growing at a CAGR of 2.30% From 2024-2032.

Market Overview

The automotive steering systems market encompasses products related to the steering mechanisms of various vehicles, including passenger cars, light commercial vehicles, and heavy commercial vehicles. This market can be segmented by type—hydraulic power steering, electric power steering, and electro-hydraulic power steering—as well as by vehicle category, components, and sales channels like OEM and aftermarket. The integration of Advanced Driver Assistance Systems (ADAS) is a significant technological driver in this space. Geographically, the market spans North and South America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, fueled by the growing demand for improved vehicle control, safety features, and driving comfort.

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Automotive Steering Systems Market Key Players:

• JTEKT Corporation (Japan)
• Nexteer Automotive Group Ltd. (United States)
• Showa Corp. (Japan)
• ThyssenKrupp AG (Germany)
• Hitachi Automotive Systems Ltd. (Japan)
• Robert Bosch GmbH (Germany)
• NSK Steering Systems Co. Ltd. (Japan)
• Mando Corp. (South Korea)
• ZF Friedrichshafen AG (Germany)
• Others

Automotive Steering Systems Market Trend Analysis

The increasing adoption of more advanced technologies like ADAS and EPS is driving the growth of the automotive steering systems market. As a result, EPS systems have become widely used in the automotive industry because to concerns from automakers about improving fuel economy and reducing emissions, as well as the fact that they are generally perceived as being more fuel-efficient and emitting less pollutants than hydraulic power steering systems. Additionally, level two features like smart parking or lane-keeping assist lead to the integration of hearing systems that are compatible with those technologies, which will further increase demand for steering solutions.

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The Report Will Include A Major Chapter

• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis
• Investment Analysis

Automotive Steering Systems Market Segmentation

By Type

• Hydraulic Power Steering (HPS)
• Electric Power Steering (EPS)
• Electro-hydraulic Power Steering (EHPS)
• Manual Steering

By Vehicle Type

• Passenger Cars
• Light Commercial Vehicles (LCVs)
• Heavy Commercial Vehicles (HCVs)

By Technology

• Conventional Steering System
• Advanced Driver Assistance System (ADAS) Integrated Steering System

Regional Analysis:

• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

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Key questions answered in the Automotive Steering Systems Market are:

• Which is the fastest growing region in the Automotive Steering Systems Market?
• What is the growth rate of the Automotive Steering Systems Market?
• What are the upcoming opportunities and trends for the Automotive Steering Systems Market?
• What segments are covered in the Automotive Steering Systems Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Automotive Steering Systems Market?
• Which are the factors expected to drive the Automotive Steering Systems Market growth?
• What are the different segments of the Automotive Steering Systems Market?

Crucial to our report are the in-depth company profiles and competitive analysis, providing invaluable insights into market players' overview, market role, operating business segments, and financial performance. By evaluating vital metrics like production volume, sales volume, and sales margin, we establish a comprehensive understanding of their market position.

Key Points Covered in Market Report:

• Overview, Definition and Classification Market drivers and barriers
• Market Competition by Manufacturers
• Capacity, Production, Revenue (Value) by Region (2024-2032)
• Supply (Production), Consumption, Export, Import by Region (2024-2032)
• Manufacturers Profiles/Analysis Manufacturing Cost Analysis, Industrial/Supply Chain
• Analysis, Sourcing Strategy and Downstream Buyers, Marketing

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