Global Automotive Rack and Pinion Steering System Market 2019-2023

Global Automotive Rack and Pinion Steering System Market 2019-2023

About this market

In electric power steering (EPS), only the rack and pinion type steering system are used. Therefore, with the adoption of EPS increasing in automobiles, the demand for automotive rack and pinion steering system is also going up. EPS serves as an input for many safety systems, including lane keep assist and electronic stability control. Technological advances have helped steering systems evolve from manual to EPS and steer-by-wire systems. As EPS makes vehicles highly fuel-efficient, its adoption is increasing in passenger cars in particular, including entry-level passenger cars. EPS together with its components cost more than a hydraulic power steering system and enable manufacturers of automotive steering systems and steering system components to register higher profit margins. Thus, the increasing adoption of EPS will drive the global automotive rack and pinion steering system market during the forecast period. Technavio’s analysts have predicted that the automotive rack and pinion steering system market will register a CAGR of over 4% by 2023.

Market Overview

Rack and pinion steering provide improved control

Safety systems being developed today have changed the dynamics of the automotive industry. The high-efficiency rate of such driver-assist safety technologies has made roads safer by reducing accidents. The growing penetration of passive and active safety systems in vehicles has helped build trust and confidence among users.

Rising cost of raw materials

The increasing need for improving fuel efficiency is pushing automotive manufacturers to reduce vehicle weight without compromising on performance. Manufacturers of automotive steering system components such as steering column and steering gearbox use aluminum extensively, and rising prices are expected to challenge the global automotive rack and pinion steering system market during the forecast period.

For the detailed list of factors that will drive and challenge the growth of the automotive rack and pinion steering system market during the 2019-2023, view our report.

Competitive Landscape

The market appears to be moderately concentrated and with the presence of limited vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.


PRESS RELEASE

Technavio Announces the Publication of its Research Report – Global Automotive Rack and Pinion Steering System Market 2019-2023

Technavio recognizes the following companies as the key players in the global automotive rack and pinion steering system market: JTEKT Corporation, Knorr-Bremse AG, Nexteer Automotive Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increasing popularity of steer-by-wire system.”

According to the report, one of the major drivers for this market is the design and manufacturing benefits of rack and pinions steering system.

Further, the report states that one of the major factors hindering the growth of this market is the recalls due to defective rack and pinion steering system.

Companies Mentioned

JTEKT Corporation

Knorr-Bremse AG

Nexteer Automotive Corporation

Robert Bosch GmbH

ZF Friedrichshafen AG

  • Executive summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global automotive components market
      • Table Segments of global automotive components market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ billions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by application
    • Table Application - Market share 2018-2023 (%)
    • Comparison by application
      • Table Comparison by application
    • Passenger cars - Market size and forecast 2018-2023
      • Table Passenger cars - Market size and forecast 2018-2023 ($ billions)
      • Table Passenger cars - Year-over-year growth 2019-2023 (%)
    • Commercial vehicles - Market size and forecast 2018-2023
      • Table Commercial vehicles - Market size and forecast 2018-2023 ($ billions)
      • Table Commercial vehicles - Year-over-year growth 2019-2023 (%)
    • Market opportunity by application
      • Table Market opportunity by application
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ billions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ billions)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ billions)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • South America - Market size and forecast 2018-2023
      • Table South America - Market size and forecast 2018-2023 ($ billions)
      • Table South America - Year-over-year growth 2019-2023 (%)
    • MEA - Market size and forecast 2018-2023
      • Table MEA - Market size and forecast 2018-2023 ($ billions)
      • Table MEA - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Increasing popularity of steer-by-wire system
    • Increasing popularity of dual-pinion steering system
    • Development of rack and pinion steering system with iHSA control module for HCVs
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • JTEKT Corporation
      • Table JTEKT Corporation - Vendor overview
      • Table JTEKT Corporation - Business segments
      • Table JTEKT Corporation - Organizational developments
      • Table JTEKT Corporation - Geographic focus
      • Table JTEKT Corporation - Segment focus
      • Table JTEKT Corporation - Key offerings
    • Knorr-Bremse AG
      • Table Knorr-Bremse AG - Vendor overview
      • Table Knorr-Bremse AG - Business segments
      • Table Knorr-Bremse AG - Organizational developments
      • Table Knorr-Bremse AG - Geographic focus
      • Table Knorr-Bremse AG - Segment focus
      • Table Knorr-Bremse AG - Key offerings
    • Nexteer Automotive Corporation
      • Table Nexteer Automotive Corporation - Vendor overview
      • Table Nexteer Automotive Corporation - Product segments
      • Table Nexteer Automotive Corporation - Organizational developments
      • Table Nexteer Automotive Corporation - Geographic focus
      • Table Nexteer Automotive Corporation - Segment focus
      • Table Nexteer Automotive Corporation - Key offerings
    • Robert Bosch GmbH
      • Table Robert Bosch GmbH - Vendor overview
      • Table Robert Bosch GmbH - Business segments
      • Table Robert Bosch GmbH - Organizational developments
      • Table Robert Bosch GmbH - Geographic focus
      • Table Robert Bosch GmbH - Segment focus
      • Table Robert Bosch GmbH - Key offerings
    • ZF Friedrichshafen AG
      • Table ZF Friedrichshafen AG - Vendor overview
      • Table ZF Friedrichshafen AG - Business segments
      • Table ZF Friedrichshafen AG - Organizational developments
      • Table ZF Friedrichshafen AG - Geographic focus
      • Table ZF Friedrichshafen AG - Segment focus
      • Table ZF Friedrichshafen AG - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
  • Explore Technavio

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