Automotive Steering System Market Value Chain Analysis
Polaris Market Research has published a brand-new report titled Automotive Steering System Market Size, Share & Industry Analysis, by Technology (Electric Power Steering (EPS), Hydraulic Power Steering (HPS), Manual, Electro-Hydraulic Power Steering (EHPS), by Application; by Component and Regional Forecasts, 2024-2032 that includes extensive information and analysis of the industry dynamics. The opportunities and challenges in the report's dynamical trends might be useful for the worldwide Automotive Steering System Market. The study provides an outline of the market's foundation and organizational structure and forecasts an increase in market share. The study offers a comprehensive analysis of the Automotive Steering System market size, present revenue, regular deliverables, share, and profit projections. The study report includes a sizable database on future market forecasting based on an examination of previous data.
Brief About the Report
The market's supply-side and demand-side Automotive Steering System market trends are evaluated in the study. The study provides important details on applications and statistics, which are compiled in the report to provide a market prediction. Additionally, it offers thorough explanations of SWOT and PESTLE analyses depending on changes in the region and industry. It sheds light on risks, obstacles, and uncertainties, as well as present and future possibilities and challenges in the market.
According to the research report, the global automotive steering system market was valued at USD 36.33 billion in 2023 and is expected to reach USD 44.82 billion by 2032, to grow at a CAGR of 2.4% during the forecast period.
The automotive steering system market covers mechanical and electronic steering systems—manual steering, hydraulic power steering (HPS), electric power steering (EPS), and advanced steer-by-wire architectures. EPS is the dominant growth area due to fuel-efficiency benefits, packaging flexibility, and its compatibility with ADAS and autonomous functions. Trends include increased adoption of EPS across vehicle segments, development of steer-by-wire for lighter, more flexible architectures, and integration of torque-feedback haptics for driver-assist systems. Forecasts indicate EPS growth aligns with vehicle electrification and ADAS uptake; steer-by-wire shows nascent but potentially transformative long-term opportunity in EVs and autonomous vehicles. Scope spans rack-and-pinion assemblies, electric motors, torque sensors, controllers, and software calibration services. Safety and redundancy requirements (especially for steer-by-wire) impose high engineering and validation costs but create barriers to entry. Suppliers that combine reliable hardware, functional safety expertise (ISO 26262), and software calibration capabilities for seamless integration with stability control and autonomous stacks stand to lead the market.
Key Aspects Covered in The Report
- Market size and growth rate during the forecast period.
- Key vendors operating in the market with their company profiles
- Opportunities and threats faced by the existing vendors in the market.
- Trending factors influencing the market in the geographical regions.
- In-depth understanding of market drivers, constraints, and major micro markets.
- The critical data of each segment is highlighted at an extensive level.
Automotive Steering System Market Segmentation Analysis
The study offers a thorough analysis of the numerous market segments, including application type, product component, service types, and several geographic locations. The report's segment analysis section contains thoroughly researched expert-verified industry data. Strategic recommendations are given in terms of key business segments based on market estimations.
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https://www.polarismarketresearch.com/industry-analysis/automotive-steering-system-market
Leading Players Analysis
The research report's chapter is entirely devoted to the competition environment. The Automotive Steering System market key players are examined, analyzing information on their evaluation and development in addition to a quick review of the company. Understanding the techniques employed by businesses and the steps they have recently taken to combat intense rivalry allows one to examine the competitive landscape. It covers each player's company profiles comprising sales, revenue, share, recent developments, SWOT analysis, capacity, production, revenue, gross margin, growth rate, and strategies employed by the major market players.
Different potentials in the domestic and regional markets are revealed by regional analysis of the sector. Each regional industry associated with this market is carefully examined to determine its potential for growth in the present and the future. Moreover, information on recent mergers and acquisitions that have taken place in the market is the subject of the research. This section provides important financial information about mergers and acquisitions that have recently shaped the Automotive Steering System industry.
Top Players:
- TEKT Corp.
- Mando Corp.
- Nexteer Automotive
- NSK Ltd.
- ThyssenKrupp Presta AG
- TRW Automotive
- ZF Lenksysteme.
Regions Covered in This Report Are
- North America (United States, Canada, and Mexico)
- Europe (Germany, France, United Kingdom, Russia, Italy, and the Rest of Europe)
- Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
- South America (Brazil, Argentina, Colombia, and the rest of South America)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa, and the Rest of the Middle East and Africa)
Report Summary
The analysis focuses on the regional forecast by type and application and the Automotive Steering System market sales and revenue prediction. The research report features data about the target market, such as pricing trends, customer requirements, and competitor analysis. The market growth has been examined using analytical approaches like PESTLE analysis, Porter's Five Forces analysis, feasibility studies, player-specific SWOT analyses, and ROI analyses.
Objectives of the Report
- To carefully analyze and forecast the size of the market by value and volume.
- To evaluate the market shares of major segments of the market
- To explain the development of the industry in different parts of the world.
- To analyze and study micro-markets in terms of their contributions to the market, their prospects, and individual growth trends.
- To offer precise and valuable details about factors affecting the Automotive Steering System market forecasts
- To provide a meticulous assessment of crucial business strategies used by leading companies.
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