Intelligent Steering Key Components Market
Description
The global intelligent steering key components market was valued at $9.2 billion in 2023, and is projected to reach $31.5 billion by 2033, growing at a CAGR of 13.3% from 2024 to 2033.
Intelligent key steering components are advanced systems designed to enhance the functionality, security, and convenience of modern vehicles. These components are integral to intelligent steering mechanisms, allowing for features like keyless entry, steering lock control, and immobilization through wireless communication and electronic integration. The term combines intelligent key and steering components, highlighting their role in providing secure and seamless interaction between the driver and the vehicle's steering system. These systems are essential for the automotive industry, particularly with the growing focus on connected and autonomous vehicles. Intelligent key steering components prioritize safety, precision, and user convenience by incorporating advanced driver-assistance systems (ADAS) and innovative biometric and wireless technologies. Companies in the automotive sector are actively investing in R&D and forming partnerships to advance these technologies, enabling secure, efficient, and innovative solutions that align with the evolving demands of modern mobility.
The rapid growth of the automobile sector across all segments has fueled the growth of the automotive steering market. Moreover, there is an increase in production of electric & hybrid electric vehicles that require effective power steering and new technologies such as drive-by-wire are expected to boost the demand for steering systems during the forecast period. However, the complexity in system integration is anticipated to hamper the growth of the market. On the contrary, the aftermarket for steering system is anticipated to grow along with a rise in OEM demand for electronic power steering system, which will provide lucrative opportunities for the market.Market economy is responsible for driving the automotive steering system market by establishing new production plants for steering systems. Furthermore, power steering innovation and its manufacturing have also been seen in many developing countries. The countries such as China, India, Brazil, South Africa, and others are growing economy. Thus, the manufacturing sector is anticipated to grow at a significant rate in these countries, thereby providing lucrative opportunities for the growth of the automotive steering system. In addition, in some underdeveloped countries, automobile sales are growing steadily, which is expected to escalate the growth of the automotive steering system market. In addition, an increase in the service life of vehicles is expected to create opportunities.
The intelligent key steering components market is segmented into components, vehicle type and region. By component, the market is divided into sensor, electronic control units, motor, steering columns, and others. On the basis of vehicle type, the market is classified into passenger cars and commercial vehicles. Region-wise, the intelligent steering key components market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). The key players operating in the intelligent key steering components market include Johnson Electric Holdings Limited, Nexteer Automotive Holdings Co., Ltd., HELLA GmbH & Co. KGaA, FUTEK Advanced Sensor Technology, Inc., Methode Electronics Inc., Continental AG, Robert Bosch GmbH, JTEKT Corporation, Nidec Corporation, and GKN Automotive.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the intelligent steering key components market analysis from 2023 to 2033 to identify the prevailing intelligent steering key components market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the intelligent steering key components market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global intelligent steering key components market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
Sensors
Electronic Control Unit
Motor
Steering Columns
Others
By Vehicle Type
Passenger Cars
Commerical Vehicles
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Johnson Electric Holdings Limited
Nexteer Automotive Holdings Co., Ltd.
FUTEK Advanced Sensor Technology, Inc.
Methode Electronics Inc.
Robert Bosch GmbH
JTEKT Corporation
GKN Automotive
HELLA GmbH & Co. KGaA
Continental AG
NIDEC CORPORATIONThe research methodology of the global market involves extensive primary and secondary research. Primary research includes about over 12 hours of interviews and discussion with a wide range of stakeholders, including upstream and downstream participants. The primary research typically is the bulk of our research efforts; however, coherently supported by extensive secondary research. Researchers have reviewed over 6,765 product literatures, industry releases, annual reports, and other such documents of key industry participants to obtain better market understanding and gain competitive intelligence. In addition, authentic industry journals, trade associations' releases,and government websites have also been reviewed for generating high-value industry insights.
Intelligent key steering components are advanced systems designed to enhance the functionality, security, and convenience of modern vehicles. These components are integral to intelligent steering mechanisms, allowing for features like keyless entry, steering lock control, and immobilization through wireless communication and electronic integration. The term combines intelligent key and steering components, highlighting their role in providing secure and seamless interaction between the driver and the vehicle's steering system. These systems are essential for the automotive industry, particularly with the growing focus on connected and autonomous vehicles. Intelligent key steering components prioritize safety, precision, and user convenience by incorporating advanced driver-assistance systems (ADAS) and innovative biometric and wireless technologies. Companies in the automotive sector are actively investing in R&D and forming partnerships to advance these technologies, enabling secure, efficient, and innovative solutions that align with the evolving demands of modern mobility.
The rapid growth of the automobile sector across all segments has fueled the growth of the automotive steering market. Moreover, there is an increase in production of electric & hybrid electric vehicles that require effective power steering and new technologies such as drive-by-wire are expected to boost the demand for steering systems during the forecast period. However, the complexity in system integration is anticipated to hamper the growth of the market. On the contrary, the aftermarket for steering system is anticipated to grow along with a rise in OEM demand for electronic power steering system, which will provide lucrative opportunities for the market.Market economy is responsible for driving the automotive steering system market by establishing new production plants for steering systems. Furthermore, power steering innovation and its manufacturing have also been seen in many developing countries. The countries such as China, India, Brazil, South Africa, and others are growing economy. Thus, the manufacturing sector is anticipated to grow at a significant rate in these countries, thereby providing lucrative opportunities for the growth of the automotive steering system. In addition, in some underdeveloped countries, automobile sales are growing steadily, which is expected to escalate the growth of the automotive steering system market. In addition, an increase in the service life of vehicles is expected to create opportunities.
The intelligent key steering components market is segmented into components, vehicle type and region. By component, the market is divided into sensor, electronic control units, motor, steering columns, and others. On the basis of vehicle type, the market is classified into passenger cars and commercial vehicles. Region-wise, the intelligent steering key components market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). The key players operating in the intelligent key steering components market include Johnson Electric Holdings Limited, Nexteer Automotive Holdings Co., Ltd., HELLA GmbH & Co. KGaA, FUTEK Advanced Sensor Technology, Inc., Methode Electronics Inc., Continental AG, Robert Bosch GmbH, JTEKT Corporation, Nidec Corporation, and GKN Automotive.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the intelligent steering key components market analysis from 2023 to 2033 to identify the prevailing intelligent steering key components market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the intelligent steering key components market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global intelligent steering key components market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
Sensors
Electronic Control Unit
Motor
Steering Columns
Others
By Vehicle Type
Passenger Cars
Commerical Vehicles
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Johnson Electric Holdings Limited
Nexteer Automotive Holdings Co., Ltd.
FUTEK Advanced Sensor Technology, Inc.
Methode Electronics Inc.
Robert Bosch GmbH
JTEKT Corporation
GKN Automotive
HELLA GmbH & Co. KGaA
Continental AG
NIDEC CORPORATIONThe research methodology of the global market involves extensive primary and secondary research. Primary research includes about over 12 hours of interviews and discussion with a wide range of stakeholders, including upstream and downstream participants. The primary research typically is the bulk of our research efforts; however, coherently supported by extensive secondary research. Researchers have reviewed over 6,765 product literatures, industry releases, annual reports, and other such documents of key industry participants to obtain better market understanding and gain competitive intelligence. In addition, authentic industry journals, trade associations' releases,and government websites have also been reviewed for generating high-value industry insights.
Table of Contents
324 Pages
- CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
- CHAPTER 2: EXECUTIVE SUMMARY
- 2.1. CXO perspective
- CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter’s five forces analysis
- 3.3.1. Moderate to high bargaining power of suppliers
- 3.3.2. High threat of new entrants
- 3.3.3. Low to moderate threat of substitutes
- 3.3.4. Moderate to high intensity of rivalry
- 3.3.5. Moderate to high bargaining power of buyers
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Rise in integration with ADAS and autonomous driving
- 3.4.1.2. Increase in demand for automotive steering systems
- 3.4.2. Restraints
- 3.4.2.1. High complexity in system integration
- 3.4.3. Opportunities
- 3.4.3.1. Growing demand for steering angle sensors will create lucrative growth opportunities
- CHAPTER 4: INTELLIGENT STEERING KEY COMPONENTS MARKET, BY COMPONENT
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Sensors
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Electronic Control Unit
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Motor
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
- 4.5. Steering Columns
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country
- 4.6. Others
- 4.6.1. Key market trends, growth factors and opportunities
- 4.6.2. Market size and forecast, by region
- 4.6.3. Market share analysis by country
- CHAPTER 5: INTELLIGENT STEERING KEY COMPONENTS MARKET, BY VEHICLE TYPE
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Passenger Cars
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Commerical Vehicles
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- CHAPTER 6: INTELLIGENT STEERING KEY COMPONENTS MARKET, BY REGION
- 6.1. Overview
- 6.1.1. Market size and forecast By Region
- 6.2. North America
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by Component
- 6.2.3. Market size and forecast, by Vehicle Type
- 6.2.4. Market size and forecast, by country
- 6.2.4.1. U.S.
- 6.2.4.1.1. Market size and forecast, by Component
- 6.2.4.1.2. Market size and forecast, by Vehicle Type
- 6.2.4.2. Canada
- 6.2.4.2.1. Market size and forecast, by Component
- 6.2.4.2.2. Market size and forecast, by Vehicle Type
- 6.2.4.3. Mexico
- 6.2.4.3.1. Market size and forecast, by Component
- 6.2.4.3.2. Market size and forecast, by Vehicle Type
- 6.3. Europe
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by Component
- 6.3.3. Market size and forecast, by Vehicle Type
- 6.3.4. Market size and forecast, by country
- 6.3.4.1. UK
- 6.3.4.1.1. Market size and forecast, by Component
- 6.3.4.1.2. Market size and forecast, by Vehicle Type
- 6.3.4.2. Germany
- 6.3.4.2.1. Market size and forecast, by Component
- 6.3.4.2.2. Market size and forecast, by Vehicle Type
- 6.3.4.3. France
- 6.3.4.3.1. Market size and forecast, by Component
- 6.3.4.3.2. Market size and forecast, by Vehicle Type
- 6.3.4.4. Russia
- 6.3.4.4.1. Market size and forecast, by Component
- 6.3.4.4.2. Market size and forecast, by Vehicle Type
- 6.3.4.5. Rest of Europe
- 6.3.4.5.1. Market size and forecast, by Component
- 6.3.4.5.2. Market size and forecast, by Vehicle Type
- 6.4. Asia-Pacific
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by Component
- 6.4.3. Market size and forecast, by Vehicle Type
- 6.4.4. Market size and forecast, by country
- 6.4.4.1. China
- 6.4.4.1.1. Market size and forecast, by Component
- 6.4.4.1.2. Market size and forecast, by Vehicle Type
- 6.4.4.2. Japan
- 6.4.4.2.1. Market size and forecast, by Component
- 6.4.4.2.2. Market size and forecast, by Vehicle Type
- 6.4.4.3. India
- 6.4.4.3.1. Market size and forecast, by Component
- 6.4.4.3.2. Market size and forecast, by Vehicle Type
- 6.4.4.4. South Korea
- 6.4.4.4.1. Market size and forecast, by Component
- 6.4.4.4.2. Market size and forecast, by Vehicle Type
- 6.4.4.5. Rest of Asia-Pacific
- 6.4.4.5.1. Market size and forecast, by Component
- 6.4.4.5.2. Market size and forecast, by Vehicle Type
- 6.5. LAMEA
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by Component
- 6.5.3. Market size and forecast, by Vehicle Type
- 6.5.4. Market size and forecast, by country
- 6.5.4.1. Latin America
- 6.5.4.1.1. Market size and forecast, by Component
- 6.5.4.1.2. Market size and forecast, by Vehicle Type
- 6.5.4.2. Middle East
- 6.5.4.2.1. Market size and forecast, by Component
- 6.5.4.2.2. Market size and forecast, by Vehicle Type
- 6.5.4.3. Africa
- 6.5.4.3.1. Market size and forecast, by Component
- 6.5.4.3.2. Market size and forecast, by Vehicle Type
- CHAPTER 7: COMPETITIVE LANDSCAPE
- 7.1. Introduction
- 7.2. Top winning strategies
- 7.3. Product mapping of top 10 player
- 7.4. Competitive dashboard
- 7.5. Competitive heatmap
- 7.6. Top player positioning, 2023
- CHAPTER 8: COMPANY PROFILES
- 8.1. NIDEC CORPORATION
- 8.1.1. Company overview
- 8.1.2. Key executives
- 8.1.3. Company snapshot
- 8.1.4. Operating business segments
- 8.1.5. Product portfolio
- 8.1.6. Business performance
- 8.2. Robert Bosch GmbH
- 8.2.1. Company overview
- 8.2.2. Key executives
- 8.2.3. Company snapshot
- 8.2.4. Operating business segments
- 8.2.5. Product portfolio
- 8.2.6. Business performance
- 8.3. GKN Automotive
- 8.3.1. Company overview
- 8.3.2. Key executives
- 8.3.3. Company snapshot
- 8.3.4. Operating business segments
- 8.3.5. Product portfolio
- 8.3.6. Business performance
- 8.4. Johnson Electric Holdings Limited
- 8.4.1. Company overview
- 8.4.2. Key executives
- 8.4.3. Company snapshot
- 8.4.4. Operating business segments
- 8.4.5. Product portfolio
- 8.4.6. Business performance
- 8.5. JTEKT Corporation
- 8.5.1. Company overview
- 8.5.2. Key executives
- 8.5.3. Company snapshot
- 8.5.4. Operating business segments
- 8.5.5. Product portfolio
- 8.5.6. Business performance
- 8.5.7. Key strategic moves and developments
- 8.6. Nexteer Automotive Holdings Co., Ltd.
- 8.6.1. Company overview
- 8.6.2. Key executives
- 8.6.3. Company snapshot
- 8.6.4. Operating business segments
- 8.6.5. Product portfolio
- 8.6.6. Business performance
- 8.7. Continental AG
- 8.7.1. Company overview
- 8.7.2. Key executives
- 8.7.3. Company snapshot
- 8.7.4. Operating business segments
- 8.7.5. Product portfolio
- 8.7.6. Business performance
- 8.7.7. Key strategic moves and developments
- 8.8. HELLA GmbH & Co. KGaA
- 8.8.1. Company overview
- 8.8.2. Key executives
- 8.8.3. Company snapshot
- 8.8.4. Operating business segments
- 8.8.5. Product portfolio
- 8.8.6. Business performance
- 8.8.7. Key strategic moves and developments
- 8.9. FUTEK Advanced Sensor Technology, Inc.
- 8.9.1. Company overview
- 8.9.2. Key executives
- 8.9.3. Company snapshot
- 8.9.4. Operating business segments
- 8.9.5. Product portfolio
- 8.10. Methode Electronics Inc.
- 8.10.1. Company overview
- 8.10.2. Key executives
- 8.10.3. Company snapshot
- 8.10.4. Operating business segments
- 8.10.5. Product portfolio
- 8.10.6. Business performance
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