Automotive Steering System Global Market Report 2024

Global Automotive Steering System Market Report 2024

Automotive Steering System Global Market Report 2024 – By Type (Electric Power Steering (EPS), Hydraulic Power Steering (HPS), Electro-Hydraulic Power Steering (EHPS), Manual Steering), By Component (Sensors, Steering Column, Mechanical Rack And Pinion, Electric Motor, Electronic Control Unit (ECU), Hydraulic Pump), By Sales Channel (Original Equipment Manufacturer (OEM), Aftermarket), By Application (Passenger Cars (PCs), Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)) – Market Size, Trends, And Global Forecast 2024-2033

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Automotive Steering System Global Market Report 2024

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Automotive Steering System Global Market Report 2024

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Automotive Steering System Market Definition

An automotive steering system is a component of a vehicle that allows the driver to control the direction of the vehicle's wheels, enabling maneuverability and directional control. The system consists of several interconnected parts, including the steering wheel, steering column, rack and pinion or steering gearbox, and various linkages and joints that connect to the wheels. The primary purpose of an automotive steering system is to provide the driver with precise control over the vehicle's direction.

The main types of automotive steering system are electric power steering (EPS), hydraulic power steering (HPS), electro-hydraulic power steering (EHPS), and manual steering. Electric power steering (EPS) refers to a steering system that uses an electric motor to assist in steering the vehicle, enhancing control and efficiency. The components comprise are sensors, steering column, mechanical rack and pinion, electric motor, electronic control unit (ECU), and hydraulic pump, which are sold through original equipment manufacturers (OEMs) and aftermarket channels. These are used in various applications such as passenger cars (PCs), light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), and others.

Automotive Steering System Market Segmentation

The automotive steering system market covered in this report is segmented –

1) By Type: Electric Power Steering (EPS), Hydraulic Power Steering (HPS), Electro-Hydraulic Power Steering (EHPS), Manual Steering

2) By Component: Sensors, Steering Column, Mechanical Rack And Pinion, Electric Motor, Electronic Control Unit (ECU), Hydraulic Pump

3) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket

4) By Application: Passenger Cars (PCs), Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)

Global Automotive Steering System Market Size 2023 to 2028: Graph

Automotive Steering System Market Size 2024 And Growth Rate

The automotive steering system market size has grown strongly in recent years. It will grow from $27.77 billion in 2023 to $29.25 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to increased vehicle production, rise in demand for fuel-efficient vehicles, growth in urbanization, rise in disposable income, increased commercial vehicle sales.

Automotive Steering System Market Growth Forecast

The automotive steering system market size is expected to see strong growth in the next few years. It will grow to $36.22 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to a rising focus on vehicle electrification, the growing trend of vehicle automation, rise in demand for premium vehicles, stringent emission norms, demand for comfort and convenience. Major trends in the forecast period include the adoption of steer-by-wire technology, integration of artificial intelligence (AI) in steering systems, increased focus on steering system safety features, advancements in steering sensor technologies, and development of modular steering systems.

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Automotive Steering System Market Driver: Increasing Demand For Fuel-Efficient Vehicles Drives The Automotive Steering System Market

The increase in demand for fuel-efficient vehicles is expected to drive the automotive steering system market going forward. Fuel-efficient vehicles are designed to maximize the distance traveled per unit of fuel consumption, typically achieved through technological advancements and engineering innovations to reduce fuel consumption. There is growing awareness about the environmental impact of vehicle emissions, particularly greenhouse gases such as carbon dioxide, contributing to climate change. Fuel-efficient vehicles produce fewer emissions per mile, making them more environmentally friendly. Automotive steering systems contribute to the increase in demand for fuel-efficient vehicles by incorporating lightweight materials and advanced control algorithms, enhancing vehicle aerodynamics, optimizing tire alignment, and reducing overall energy consumption through technologies such as electric power steering (EPS). For instance, in December 2023, according to the data published by the Environmental Protection Agency, a US-based federal government agency, the combined category of electric vehicles (EVs), plug-in hybrid vehicles (PHEVs), and fuel cell electric vehicles (FCVs) increased from comprising 4% of production in 2021 to 7% in 2022, with a projected rise to 12% in 2023. Therefore, the increase in demand for fuel-efficient vehicles is driving the automotive steering system market.

Global Automotive Steering System Market Major Players

Major companies operating in the automotive steering system market are Robert Bosch GmbH, ZF Friedrichshafen AG, Denso Corporation, Thyssenkrupp AG, Hyundai Mobis Co. Ltd., Mitsubishi Electric Corporation, Schaeffler Group Automotive, Nidec Corporation, TRW Automotive, Infineon Technologies AG, Hitachi Astemo Ltd., JTEKT Corporation, NSK Ltd., Knorr-Bremse AG, HL Mando Corporation, GKN Automotive AG, Nexteer Automotive Group Ltd., China Automotive Systems Inc., Global Steering Systems, Georgsmarienhütte Holding GmbH

Global Automotive Steering System Market Trend: Innovative High-Tech Electric Steering Enhanced Automotive Steering Market

Major companies operating in the automotive steering system market are developing high-tech electric steering systems designed specifically for niche low-volume vehicle manufacturers. High-tech electric steering systems provide precise and responsive steering control, improve fuel efficiency, enhance driver safety through advanced features such as lane-keeping assistance, and reduce the overall weight and complexity of the vehicle's steering mechanism. For instance, in September 2023, Titan Motorsport and Automotive Engineering, a UK-based engineering and technology company, launched an advanced steer-by-wire system. This system features a bespoke electric motor and control system designed and manufactured in-house by Titan, scalability and packaging optimization for various applications, and high tuneability and customization for precise steering responses. This represents significant advancements in electric steering technology, offering high performance and customization.

Automotive Steering System Market Merger And Acquisition: ZF Rane Automotive India Strengthens Market Position Via TRW Acquisition

In March 2024, ZF Rane Automotive India Private Limited, an India-based company providing power steering and seat belt systems, acquired TRW Sun Steering Wheels Pvt. Ltd. for an undisclosed amount. This acquisition strengthens ZF Rane's position as a comprehensive solutions provider and increases market share, enhancing competitiveness and driving innovation in the automotive steering system market. TRW Sun Steering Wheels Pvt. Ltd. is an India-based manufacturer of steering wheels.

Regional Insights For The Global Automotive Steering System Market

North America was the largest region in the automotive steering system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive steering system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the automotive steering system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The automotive steering system market consists of sales of steering gears, steering linkages, power steering hoses, steering knuckles, power steering fluid, and intermediate shafts. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The automotive steering system research report is one of a series of new reports from The Business Research Company that provides automotive steering system market statistics, including the automotive steering system industry's global market size, regional shares, competitors with an automotive steering system market share, detailed automotive steering system market segments, market trends and opportunities, and any further data you may need to thrive in the automotive steering system industry. This automotive steering system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Automotive Steering System Market Report Forecast And Analysis

Report Attribute	Details
Market Size Value In 2024	$29.25 billion
Revenue Forecast In 2033	$36.22 billion
Growth Rate	CAGR of 5.5% from 2024 to 2033
Base Year For Estimation	2023
Actual Estimates/Historical Data	2018-2023
Forecast Period	2024 - 2028 - 2033
Market Representation	Revenue in USD Billion and CAGR from 2024 to 2033
Segments Covered	1) By Type: Electric Power Steering (EPS); Hydraulic Power Steering (HPS); Electro-Hydraulic Power Steering (EHPS); Manual Steering 2) By Component: Sensors; Steering Column; Mechanical Rack And Pinion; Electric Motor; Electronic Control Unit (ECU); Hydraulic Pump 3) By Sales Channel: Original Equipment Manufacturer (OEM); Aftermarket 4) By Application: Passenger Cars (PCs); Light Commercial Vehicles (LCVs); Heavy Commercial Vehicles (HCVs)
Regional Scope	Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Country Scope	The countries covered in the report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. Additional countries that can be covered in the report for an additional fee: Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, Mexico, Chile, Argentina, Colombia, Peru, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
Key Companies Profiled	Robert Bosch GmbH, ZF Friedrichshafen AG, Denso Corporation, Thyssenkrupp AG, Hyundai Mobis Co. Ltd., Mitsubishi Electric Corporation, Schaeffler Group Automotive, Nidec Corporation, TRW Automotive, Infineon Technologies AG, Hitachi Astemo Ltd., JTEKT Corporation, NSK Ltd., Knorr-Bremse AG, HL Mando Corporation, GKN Automotive AG, Nexteer Automotive Group Ltd., China Automotive Systems Inc., Global Steering Systems, Georgsmarienhütte Holding GmbH
Customization Scope	Request for Sample
Pricing And Purchase Options	Explore Purchase Options

1. Executive Summary

2. Automotive Steering System Market Characteristics

3. Automotive Steering System Market Trends And Strategies

4. Automotive Steering System Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market

4.2. Ukraine-Russia War Impact On The Market

4.3. COVID-19 Impact On The Market

5. Global Automotive Steering System Market Size and Growth

5.1. Global Automotive Steering System Market Drivers and Restraints

5.1.1. Drivers Of The Market

5.1.2. Restraints Of The Market

5.2. Global Automotive Steering System Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)

5.3. Global Automotive Steering System Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Automotive Steering System Market Segmentation

6.1. Global Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Electric Power Steering (EPS)

Hydraulic Power Steering (HPS)

Electro-Hydraulic Power Steering (EHPS)

Manual Steering

6.2. Global Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Sensors

Steering Column

Mechanical Rack And Pinion

Electric Motor

Electronic Control Unit (ECU)

Hydraulic Pump

6.3. Global Automotive Steering System Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Original Equipment Manufacturer (OEM)

Aftermarket

6.4. Global Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Passenger Cars (PCs)

Light Commercial Vehicles (LCVs)

Heavy Commercial Vehicles (HCVs)

7. Automotive Steering System Market Regional And Country Analysis

7.1. Global Automotive Steering System Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

7.2. Global Automotive Steering System Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Automotive Steering System Market

8.1. Asia-Pacific Automotive Steering System Market Overview

Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

8.2. Asia-Pacific Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8.3. Asia-Pacific Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8.4. Asia-Pacific Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Automotive Steering System Market

9.1. China Automotive Steering System Market Overview

9.2. China Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

9.3. China Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

9.4. China Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Automotive Steering System Market

10.1. India Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

10.2. India Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

10.3. India Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Automotive Steering System Market

11.1. Japan Automotive Steering System Market Overview

11.2. Japan Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11.3. Japan Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11.4. Japan Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Automotive Steering System Market

12.1. Australia Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12.2. Australia Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12.3. Australia Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Automotive Steering System Market

13.1. Indonesia Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13.2. Indonesia Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13.3. Indonesia Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Automotive Steering System Market

14.1. South Korea Automotive Steering System Market Overview

14.2. South Korea Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14.3. South Korea Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14.4. South Korea Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Automotive Steering System Market

15.1. Western Europe Automotive Steering System Market Overview

15.2. Western Europe Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15.3. Western Europe Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15.4. Western Europe Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Automotive Steering System Market

16.1. UK Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16.2. UK Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16.3. UK Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Automotive Steering System Market

17.1. Germany Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17.2. Germany Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17.3. Germany Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Automotive Steering System Market

18.1. France Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18.2. France Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18.3. France Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Automotive Steering System Market

19.1. Italy Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19.2. Italy Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19.3. Italy Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Automotive Steering System Market

20.1. Spain Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20.2. Spain Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20.3. Spain Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Automotive Steering System Market

21.1. Eastern Europe Automotive Steering System Market Overview

21.2. Eastern Europe Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21.3. Eastern Europe Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21.4. Eastern Europe Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Automotive Steering System Market

22.1. Russia Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22.2. Russia Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22.3. Russia Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Automotive Steering System Market

23.1. North America Automotive Steering System Market Overview

23.2. North America Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23.3. North America Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23.4. North America Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Automotive Steering System Market

24.1. USA Automotive Steering System Market Overview

24.2. USA Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24.3. USA Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24.4. USA Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Automotive Steering System Market

25.1. Canada Automotive Steering System Market Overview

25.2. Canada Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25.3. Canada Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25.4. Canada Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Automotive Steering System Market

26.1. South America Automotive Steering System Market Overview

26.2. South America Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26.3. South America Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26.4. South America Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Automotive Steering System Market

27.1. Brazil Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27.2. Brazil Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27.3. Brazil Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Automotive Steering System Market

28.1. Middle East Automotive Steering System Market Overview

28.2. Middle East Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28.3. Middle East Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28.4. Middle East Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Automotive Steering System Market

29.1. Africa Automotive Steering System Market Overview

29.2. Africa Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29.3. Africa Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29.4. Africa Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Automotive Steering System Market Competitive Landscape And Company Profiles

30.1. Automotive Steering System Market Competitive Landscape

30.2. Automotive Steering System Market Company Profiles

30.2.1. Robert Bosch GmbH

30.2.1.1. Overview

30.2.1.2. Products and Services

30.2.1.3. Strategy

30.2.1.4. Financial Performance

30.2.2. ZF Friedrichshafen AG

30.2.2.1. Overview

30.2.2.2. Products and Services

30.2.2.3. Strategy

30.2.2.4. Financial Performance

30.2.3. Denso Corporation

30.2.3.1. Overview

30.2.3.2. Products and Services

30.2.3.3. Strategy

30.2.3.4. Financial Performance

30.2.4. Thyssenkrupp AG

30.2.4.1. Overview

30.2.4.2. Products and Services

30.2.4.3. Strategy

30.2.4.4. Financial Performance

30.2.5. Hyundai Mobis Co. Ltd.

30.2.5.1. Overview

30.2.5.2. Products and Services

30.2.5.3. Strategy

30.2.5.4. Financial Performance

31. Automotive Steering System Market Other Major And Innovative Companies

31.1. Mitsubishi Electric Corporation

31.2. Schaeffler Group Automotive

31.3. Nidec Corporation

31.4. TRW Automotive

31.5. Infineon Technologies AG

31.6. Hitachi Astemo Ltd.

31.7. JTEKT Corporation

31.8. NSK Ltd.

31.9. Knorr-Bremse AG

31.10. HL Mando Corporation

31.11. GKN Automotive AG

31.12. Nexteer Automotive Group Ltd.

31.13. China Automotive Systems Inc.

31.14. Global Steering Systems

31.15. Georgsmarienhütte Holding GmbH

32. Global Automotive Steering System Market Competitive Benchmarking

33. Global Automotive Steering System Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Automotive Steering System Market

35. Automotive Steering System Market Future Outlook and Potential Analysis

35.1 Automotive Steering System Market In 2028 - Countries Offering Most New Opportunities

35.2 Automotive Steering System Market In 2028 - Segments Offering Most New Opportunities

35.3 Automotive Steering System Market In 2028 - Growth Strategies

35.3.1 Market Trend Based Strategies

35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations

36.2. Currencies

36.3. Historic And Forecast Inflation Rates

36.4. Research Inquiries

36.5. The Business Research Company

36.6. Copyright And Disclaimer

List Of Tables

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Automotive Steering System Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 6: Global Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 7: Global Automotive Steering System Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 8: Global Automotive Steering System Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 9: Asia-Pacific, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 10: Asia-Pacific, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 11: Asia-Pacific, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 12: China, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 13: China, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 14: China, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 15: India, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 16: India, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 17: India, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 18: Japan, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 19: Japan, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 20: Japan, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 21: Australia, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 22: Australia, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 23: Australia, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 24: Indonesia, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 25: Indonesia, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 26: Indonesia, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 27: South Korea, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 28: South Korea, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 29: South Korea, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 30: Western Europe, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 31: Western Europe, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 32: Western Europe, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 33: UK, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 34: UK, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 35: UK, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 36: Germany, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 37: Germany, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 38: Germany, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 39: France, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 40: France, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 41: France, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 42: Italy, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 43: Italy, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 44: Italy, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 45: Spain, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 46: Spain, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 47: Spain, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 48: Eastern Europe, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 49: Eastern Europe, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 50: Eastern Europe, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 51: Russia, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 52: Russia, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 53: Russia, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 54: North America, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 55: North America, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 56: North America, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 57: USA, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 58: USA, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 59: USA, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 60: Canada, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 61: Canada, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 62: Canada, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 63: South America, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 64: South America, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 65: South America, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 66: Brazil, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 67: Brazil, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 68: Brazil, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 69: Middle East, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 70: Middle East, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 71: Middle East, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 72: Africa, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 73: Africa, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 74: Africa, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 75: Robert Bosch GmbH Financial Performance

Table 76: ZF Friedrichshafen AG Financial Performance

Table 77: Denso Corporation Financial Performance

Table 78: Thyssenkrupp AG Financial Performance

Table 79: Hyundai Mobis Co. Ltd. Financial Performance

List Of Figures

Figure 1: Global Historic Market Growth, 2018-2023, $ Billion

Figure 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Figure 3: Global Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 4: Global Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 5: Global Automotive Steering System Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 6: Global Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 7: Global Automotive Steering System Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 8: Global Automotive Steering System Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 9: Asia-Pacific, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 10: Asia-Pacific, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 11: Asia-Pacific, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 12: China, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 13: China, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 14: China, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 15: India, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 16: India, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 17: India, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 18: Japan, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 19: Japan, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 20: Japan, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 21: Australia, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 22: Australia, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 23: Australia, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 24: Indonesia, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 25: Indonesia, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 26: Indonesia, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 27: South Korea, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 28: South Korea, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 29: South Korea, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 30: Western Europe, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 31: Western Europe, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 32: Western Europe, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 33: UK, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 34: UK, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 35: UK, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 36: Germany, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 37: Germany, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 38: Germany, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 39: France, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 40: France, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 41: France, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 42: Italy, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 43: Italy, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 44: Italy, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 45: Spain, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 46: Spain, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 47: Spain, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 48: Eastern Europe, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 49: Eastern Europe, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 50: Eastern Europe, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 51: Russia, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 52: Russia, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 53: Russia, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 54: North America, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 55: North America, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 56: North America, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 57: USA, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 58: USA, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 59: USA, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 60: Canada, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 61: Canada, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 62: Canada, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 63: South America, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 64: South America, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 65: South America, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 66: Brazil, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 67: Brazil, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 68: Brazil, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 69: Middle East, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 70: Middle East, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 71: Middle East, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 72: Africa, Automotive Steering System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 73: Africa, Automotive Steering System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 74: Africa, Automotive Steering System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Figure 75: Robert Bosch GmbH Financial Performance

Figure 76: ZF Friedrichshafen AG Financial Performance

Figure 77: Denso Corporation Financial Performance

Figure 78: Thyssenkrupp AG Financial Performance

Figure 79: Hyundai Mobis Co. Ltd. Financial Performance

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Frequently Asked Questions

What is the definition of the Automotive Steering System market?

How will the Automotive Steering System market drivers and restraints affect the Automotive Steering System market dynamics? What forces will shape the Automotive Steering System industry going forward?

The Automotive Steering System market major growth driver - Increasing Demand For Fuel-Efficient Vehicles Drives The Automotive Steering System Market. For further insights on the Automotive Steering System market, request a sample here

What is the forecast market size or the forecast market value of the Automotive Steering System market?

The automotive steering system market size has grown strongly in recent years. It will grow from $27.77 billion in 2023 to $29.25 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to increased vehicle production, rise in demand for fuel-efficient vehicles, growth in urbanization, rise in disposable income, increased commercial vehicle sales. The automotive steering system market size is expected to see strong growth in the next few years. It will grow to $36.22 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to a rising focus on vehicle electrification, the growing trend of vehicle automation, rise in demand for premium vehicles, stringent emission norms, demand for comfort and convenience. Major trends in the forecast period include the adoption of steer-by-wire technology, integration of artificial intelligence (AI) in steering systems, increased focus on steering system safety features, advancements in steering sensor technologies, and development of modular steering systems. For further insights on the Automotive Steering System market, request a sample here

How is the Automotive Steering System market segmented?

The Automotive Steering System market is segmented
1) By Type: Electric Power Steering (EPS), Hydraulic Power Steering (HPS), Electro-Hydraulic Power Steering (EHPS), Manual Steering
2) By Component: Sensors, Steering Column, Mechanical Rack And Pinion, Electric Motor, Electronic Control Unit (ECU), Hydraulic Pump
3) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
4) By Application: Passenger Cars (PCs), Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)For further insights on the Automotive Steering System market, request a sample here

Which region has the largest share of the Automotive Steering System market? What are the other regions covered in the report?

North America was the largest region in the automotive steering system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive steering system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. For further insights on the Automotive Steering System market, request a sample here.

Who are the major players in the Automotive Steering System market?

What are the key trends in the Automotive Steering System market?

Major trend in the Automotive Steering System market - Innovative High-Tech Electric Steering Enhanced Automotive Steering Market. For further insights on the Automotive Steering System market, request a sample here.

What are the major opportunities in the Automotive Steering System market? What are the strategies for the Automotive Steering System market?

For detailed insights on the major opportunities and strategies in the Automotive Steering System market, request a sample here.

How does the Automotive Steering System market relate to the overall economy and other similar markets?

For detailed insights on Automotive Steering System market's relation to the overall economy and other similar markets, request a sample here.

What are the latest mergers and acquisitions in the Automotive Steering System industry?

For detailed insights on the mergers and acquisitions in the Automotive Steering System industry, request a sample here.

What are the key dynamics influencing the Automotive Steering System market growth? SWOT analysis of the Automotive Steering System market.

For detailed insights on the key dynamics influencing the Automotive Steering System market growth and SWOT analysis of the Automotive Steering System industry, request a sample here.