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Global Automotive Steering System Market 2017-2021

Global Automotive Steering System Market 2017-2021

About Automotive Steering System

An automotive steering system acts as a direct line of control and communication between the driver and vehicle. From being rigid mechanisms, automotive steering systems have evolved into more technologically advanced, reliable, smooth, and easy-to-use systems. Modern automotive steering systems are equipped with advanced safety systems and advanced driver assistance systems (ADAS) such as airbags in steering wheels, anti-lock braking system (ABS), adaptive cruise control (ACC), and power assisted steering (PAS) to ensure safe and smooth driving and to provide improved directional stability and agility to the vehicle.

Technavio’s analysts forecast the global automotive steering system market to grow at a CAGR of 3.70% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global automotive steering system market for 2017-2021. To calculate the market size, the report considers the sales of automotive steering system, globally. In addition, the report discusses the major drivers that influence the growth of the market and outlines the challenges faced by the operators and the market at large, as well as the emerging trends in the market.

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

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Automotive Steering System 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
  • Bosch
  • Nexteer
  • ThyssenKrupp
Other prominent vendors
  • Atmel
  • DENSO
  • Mitsubishi Electric
  • Tianjin
  • China Automotive Systems
  • NSK
Market driver
  • Increase in sales of passenger cars and SUVs
  • For a full, detailed list, view our report
Market challenge
  • Increase in number of on-demand taxi operators in China and India
  • For a full, detailed list, view our report
Market trend
  • Development of four-wheel steering system
  • 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 Steering System Market 2017-2021

Technavio recognizes the following companies as the key players in the global automotive steering system market: Bosch, Nexteer and ThyssenKrupp.

Other Prominent Vendors in the market are: Atmel, DENSO, Mitsubishi Electric, Tianjin, China Automotive Systems and NSK.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is development of four-wheel steering system. The four-wheel steering system is a mechanism that helps the cars, trucks, and other vehicles to allow all four wheels to turn and rotate, which helps the driver to make tighter turns and faster maneuvers. In most of the four-wheel steering systems, the rear wheels are steered by automated systems and actuators.”

According to the report, one driver in the market is increase in sales of passenger cars and SUVs. The sales of SUVs and crossovers increased about 10% in the total US passenger cars market in 2015. The growing preference for fuel efficiency and three-row seats in crossovers and SUVs are the main drivers for the growth of the SUVs and crossovers market in the US. The structure of SUVs and crossovers look similar, but they are distinct in fuel efficiency and usability. Crossovers are highly fuel efficient compared with SUVs as they are built from car frames and are considerably lightweight.

Further, the report states that one challenge in the market is increase in number of on-demand taxi operators in China and India. In China, about 203 million licensed people do not own cars and mostly depend on public transportation or car rentals for their daily commute. However, the number of people opting for on-demand taxi services are increasing due to government restrictions regarding owning a private car, lack of parking space for a self-drive rental car, and aggressive discount offers given by the on-demand taxi operators to attract more customers.

Companies Mentioned

Bosch, Nexteer, ThyssenKrupp, Atmel, DENSO, Mitsubishi Electric, Tianjin, China Automotive Systems and NSK.

  • Executive summary
  • Scope of the report
    • Market overview
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
    • Automotive steering systems: An introduction
      • Table Steering system types
    • Classification of power steering
      • Table Power steering system types
    • Components of a typical power steering system
      • Table Power steering system components
    • Evolution of steering systems
      • Table Product life cycle of steering systems
  • Market landscape
    • Market overview
      • Table Global automotive steering system market
    • Market size and forecast
      • Table Global automotive steering system market 2016-2021 (millions of units)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by application
    • Market overview
      • Table Segmentation of global automotive steering system market 2016 and 2021
    • Global automotive steering system market by passenger cars
      • Table Global automotive steering system market by passenger cars 2016-2021 (millions of units)
    • Global automotive steering system market by LCVs
      • Table Global automotive steering system market by LCVs 2016-2021 (millions of units)
    • Global automotive steering system market by M&HCVs
      • Table Global automotive steering system market by M&HCVs 2016-2021 (millions of units)
  • Geographical segmentation
    • Global automotive steering system market by geography
      • Table Global automotive steering system market by geography 2016 and 2021
    • Automotive steering system market in EMEA
      • Table Automotive steering system market in EMEA 2016-2021 (millions of units)
    • Automotive steering system market in APAC
      • Table Automotive steering system market in APAC 2016-2021 (millions of units)
    • Automotive steering system market in Americas
      • Table Automotive steering system market in Americas 2016-2021 (millions of units)
  • Key leading countries
    • Table Key leading countries
  • Market drivers
    • Increase in sales of passenger cars and SUVs
    • Low penetration of cars in emerging economies
    • Increase in demand for fuel-efficient vehicles
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Increase in number of on-demand taxi operators in China and India
    • Government regulations for owning cars in China
    • Rise in car-sharing services in China, India, and Brazil
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Phasing out of hydraulic power steering system
    • Development of four-wheel steering system
    • Growing penetration of steer-by-wire technology
  • Vendor landscape
    • Other prominent vendors
  • Key vendor analysis
    • Bosch
      • Table Bosch: Business segmentation by revenue 2016
      • Table Bosch: Geographical segmentation by revenue 2016
      • Table Bosch: Product portfolio
      • Table Bosch: Recent developments
    • Nexteer
      • Table Nexteer: Product segmentation by revenue 2015
      • Table Nexteer: Geographical segmentation by revenue 2015
      • Table Nexteer: Automotive steering system product portfolio
      • Table Nexteer: Recent developments
    • thyssenKrupp
      • Table thyssenKrupp: Business segmentation by revenue 2016
      • Table thyssenKrupp: Geographical segmentation by revenue 2016
      • Table ThyssenKrupp: Recent developments
  • Appendix
    • List of abbreviations
  • Explore Technavio

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