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Global Automotive Power Steering Gears Market 2017-2021

Global Automotive Power Steering Gears Market 2017-2021

About Automotive Power Steering Gears

Automotive power steering helps the driver to steer the wheels by controlling the steering effort on the wheel. In power steering, electric motors help the steering motion instead of hydraulic systems.

Technavio’s analysts forecast the global automotive power steering gears market to grow at a CAGR of 3.94% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global automotive power steering gears market for 2017-2021. To calculate the market size, the report considers the new installations, shipments, and volume.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Automotive Power Steering Gears Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • GKN
  • Nexteer Automotive
  • Thyssenkrupp
  • ZF Friedrichshafen
Other prominent vendors
  • ATS Automation Tooling Systems
  • JTEKT
  • Mando
  • Robert Bosch
Market driver
  • Growing penetration of utility vehicles in APAC
  • For a full, detailed list, view our report
Market challenge
  • Steering gear replacement cost
  • For a full, detailed list, view our report
Market trend
  • Growing pursuit of electrohydraulic power steering in HCVs
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Automotive Power Steering Gears Market 2017-2021

Technavio recognizes the following companies as the key players in the global automotive power steering gears market: GKN, Nexteer Automotive, thyssenkrupp, and ZF Friedrichshafen.

Other Prominent Vendors in the market are: ATS Automation Tooling Systems, JTEKT, Mando, and Robert Bosch.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing pursuit of electrohydraulic power steering in HCVS. As part of the electrification trend in the automotive industry, energy saving is one of the most important concerns for the development of new vehicles, especially for power steering systems. In a hydraulic power steering system, 70% of the fuel gets consumed by hydraulics, which can be avoided. Hence, the application of more advanced power steering systems such as electric power steering and electrohydraulic power steering can help achieve fuel economy.”

According to the report, one of the major drivers for this market is growing penetration of utility vehicles in APAC. In China, SUV production will grow up to seven million by 2018 despite the weakening growth rate of the Chinese passenger car market, which slumped to about 4% in 2015 from 9% in 2014. The sales of SUVs would be the main driving factor for the passenger car market in China. SUVs occupied approximately 30% share of the passenger car market in China in 2015. The increasing preference for larger vehicles in China due to the perception of having a higher social status with the ownership of bigger cars is mainly driving the market for SUVs in China.

Further, the report states that one of the major factors hindering the growth of this market is steering gear replacement cost. The average cost of steering gearbox replacement is between $620 and $820. The labor costs are estimated to be between $149 and $189, while the component parts are priced approximately between $471 and $631. There is a high cost involved in replacing a steering gear.

Companies Mentioned

GKN, Nexteer Automotive, thyssenkrupp, ZF Friedrichshafen, ATS Automation Tooling Systems, JTEKT, Mando, and Robert Bosch.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Key market highlights
    • Automotive steering market
      • Table Automotive steering market
      • Table Classification of power steering system
      • Table Types of steering gear mechanisms used in automotive power steering
  • Market landscape
    • Market overview
      • Table Overview of global automotive power steering gears market
    • Market size and forecast
      • Table Global automotive power steering gears market 2016-2021 (units in millions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by application
    • Global automotive power steering gears by application
      • Table Global automotive power steering gears market by application 2016 (% share)
    • Automotive power steering gears market by passenger cars
      • Table Automotive power steering gears market by passenger cars 2016-2021 (units in millions)
    • Passenger car sales analysis in global markets
    • Value chain for automotive power steering gears
      • Table Value chain for automotive power steering gears
    • Automotive power steering gears market by LCVs
      • Table Automotive power steering gears market by LCVs 2016-2021 (units in millions)
    • Global Automotive power steering gears market by M&HCVs
      • Table Global automotive power steering gears market by M&HCVs 2016-2021 (units in millions)
      • Table Performance specification of class 8 trucks and heavy-duty vehicles
  • Market segmentation by geography
    • Global automotive power steering gears market by geography
      • Table Global automotive power steering gears market by region 2016
      • Table Global automotive power steering gears market by region 2016-2021 (units in millions)
    • Automotive power steering gears market in APAC
      • Table Automotive power steering gears market in APAC 2016-2021 (units in millions)
    • Automotive power steering gears market in EMEA
      • Table Automotive power steering gears market in EMEA 2016-2021 (units in millions)
    • Automotive power steering gears market in Americas
      • Table Automotive power steering gears market in Americas 2016-2021 (units in millions)
  • Key leading countries
    • Table Key leading countries
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Sales of entry-level passenger cars with power steering gears in India 2016
    • Impact of drivers on key customer segments
      • Table Impact of drivers
    • Market challenges
      • Table Cost of replacing steering gears
    • Impact of challenges on key customer segments
      • Table Impact of challenges
  • Market trends
    • Growing pursuit of electrohydraulic power steering in HCVs
    • Growing penetration of steer-by-wire technology
    • Phasing out of hydraulic power steering system
    • Active energy-absorbing steering column
  • Vendor landscape
    • Competitive scenario
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • GKN
      • Table GKN: Product overview
      • Table GKN: Product portfolio
      • Table GKN: Business segmentation by revenue 2016
      • Table GKN: Sales by product group
      • Table GKN: Geographical segmentation by revenue 2015
      • Table GKN: Recent developments
    • Nexteer Automotive
      • Table Nexteer Automotive: Product segmentation by revenue 2016
      • Table Nexteer Automotive: Geographical segmentation by revenue 2016
      • Table Nexteer Automotive: Product portfolio
      • Table Nexteer Automotive: Recent developments
    • thyssenkrupp
      • Table thyssenkrupp: Product portfolio
      • Table thyssenkrupp: Business segmentation by revenue 2016
      • Table thyssenkrupp: Geographical segmentation by revenue 2016
      • Table thyssenkrupp: Recent developments
    • ZF Friedrichshafen
      • Table ZF Friedrichshafen: Product portfolio
      • Table ZF Friedrichshafen: Business segmentation by revenue 2016
      • Table ZF Friedrichshafen: Recent developments
  • Appendix
    • List of abbreviations
  • Explore Technavio

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