Global Hydraulic Steering System Market 2017-2021

Global Hydraulic Steering System Market 2017-2021

About Hydraulic Steering System

Hydraulic steering includes conventional rack and pinion steering, uses hydraulic pressure from the engine pump, and is used to help the motion of the steering wheel. It is predominantly used in heavy commercial vehicles.

Technavio’s analysts forecast the global hydraulic steering system market to grow at a CAGR of 1.72% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global hydraulic steering system market for 2017-2021. To calculate the market size, the report considers the new installations and sales volume of passenger cars, LCVs, and M&HCVs.

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

• Americas
• APAC
• EMEA

Technavio's report, Global Hydraulic 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

• ZF Friedrichshafen
• GKN
• Nexteer Automotive
• ThyssenKrupp

Other prominent vendors

• ATS
• JTEKT
• Robert Bosch
• thyssenKrupp Presta
• Hyundai Mobis
• Mando

Market driver

• High penetration of hydraulic power steering in commercial vehicles
• For a full, detailed list, view our report

Market challenge

• Increasing penetration of EPS system
• For a full, detailed list, view our report

Market trend

• Growing pursuit of EHPS in heavy commercial vehicles
• 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 Hydraulic Steering System Market 2017-2021

Technavio recognizes the following companies as the key players in the global hydraulic steering system market: ZF Friedrichshafen, GKN, Nexteer Automotive, and ThyssenKrupp.

Other Prominent Vendors in the market are: ATS, JTEKT, Robert Bosch, thyssenKrupp Presta, Hyundai Mobis, and Mando.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing pursuit of EHPS in heavy commercial vehicles. 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.”

According to the report, one of the major drivers for this market is high penetration of hydraulic power steering in commercial vehicles. The conventional hydraulic power steering is predominantly used in heavy commercial vehicles. Most commercial vehicles use the hydraulic or the EHS system as the EPS system has not been able to cross the 15 kN barriers. Ford F-150 and Ram 1500 trucks are equipped with EPS, but other HCVs are still dependent on hydraulic steering systems.

Further, the report states that one of the major factors hindering the growth of this market is increasing penetration of EPS system. EPS systems improve the fuel economy by 2.5% compared with hydraulic systems as they do not use pumps, hoses, drive belts, fluids, and pulleys. EPS systems tend to be smaller and lighter than hydraulic systems. Also, unlike a hydraulic power steering system that is continually driven using a hydraulic pump, the EPS motor is powered only when necessary.



Companies Mentioned

ZF Friedrichshafen, GKN, Nexteer Automotive, ThyssenKrupp, ATS, JTEKT, Robert Bosch, thyssenKrupp Presta, Hyundai Mobis, and Mando.