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Automotive Steering System Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024

Automotive Steering System Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024

The report on global automotive steering system market provides qualitative and quantitative analysis for the period of 2016 to 2024. The report predicts the global automotive steering system market to grow with a CAGR of 7.3% over the forecast period of 2018-2024. The study on automotive steering system market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific and RoW for the period of 2016 to 2024.

The shift from earlier hydraulic steering system technology to EPS (Electric power system steering) systems, as a result of the global fuel crisis and need for fuel efficient solutions are the factors driving the need for automotive steering system market. Additionally, factors such as the rising vehicle production globally and the growing demand for easy vehicle regulated movement have also fuelled the growth of the companies operating in the market for automotive steering systems.However,High cost associated with power steering system is anticipated to restrain the growth of the automotive steering system market.

Furthermore, as the leading manufacturers are shifting their focus towards AI-controlled steering wheels this in turn is expected to open doors of opportunities for the key players in the automotive steering systems market over the upcoming years. Moreover, factors such as integration of advanced driver assistance systems in vehicles combined with improved purchasing power of consumers across the globe are expected to expand the scope of the automotive steering system market for a considerable period.

Among the geographies, Asia Pacific is expected to dominate the automotive steering system market. Additionally, factors such as low cost labor, subsidiaries towards local manufacturing and free trade agreement with other countries is expected to augment the market growth in the Asia Pacific regions during the forecast period. Furthermore, North America is another region for the manufacture of the automotive steering market due to the major manufacturers and development of new technologies in the automotive market. However, the growing automobile sector in Asia-Pacific with India, China, and Japan emerging as automotive manufacture hubs is anticipated to drive the market for electric power steering systems. Thus, the growth of the automotive steering market is expected to go hand in hand with the automotive industry.

The report on automotive steering system market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global automotive steering system market over the period of 2016 to 2024. Moreover, the report is collective presentation of primary and secondary research findings.

Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global automotive steering system market over the period of 2016 to 2024. Further, IGR- Growth Matrix given in the report brings an insight on the investment areas that existing or new market players can consider.

Research Methodology
A) Primary Research
Our primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached through
1. Key Opinion Leaders associated with Infinium Global Research
2. Internal and External subject matter experts
3. Professionals and participants from LinkedIn, Hoovers, Factiva and Bloggers
Our primary research respondents typically include
1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/ country managers
5. Vice President level executives.
B) Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.
The secondary sources of the data typically include
1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies

Segment Covered
The global automotive steering system market is segmented on the basis of type and vehicle type.

Global Automotive Steering System Market by Type
Electronic Power Steering
Electro-Hydraulic Power Steering
Hydraulic Power Steering
Global Automotive Steering System Market by Vehicle Type
Heavy Commercial Vehicle
Light Commercial Vehicle
Passenger Vehicles

Company Profiles
ThyssenKrupp
China Automotive Systems Inc.
Nexteer Automotive
Robert Bosch Automotive Steering GmbH
JTEKT Corporation
Sona Koyo Steering Systems Ltd
Hyundai Mobis Co. Ltd
TRW Automotive Holdings
Mitsubishi Electric Corporation
ZF Friedrichshafen Manufacturing Company

How this report delivers?
1. Comprehensive analysis of global as well as regional markets of automotive steering system market.
2. Complete coverage of all the segments in automotive steering system market to analyze the trends, developments in the global market and forecast of market size up to 2024.
3. Comprehensive analysis of the companies operating in global automotive steering system market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. IGR- Growth Matrix presents analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.


The report on automotive steering system market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global automotive steering system market over the period of 2016 to 2024. Moreover, the report is collective presentation of primary and secondary research findings.

Company Profiles
ThyssenKrupp
China Automotive Systems Inc.
Nexteer Automotive
Robert Bosch Automotive Steering GmbH
JTEKT Corporation
Sona Koyo Steering Systems Ltd
Hyundai Mobis Co. Ltd
TRW Automotive Holdings
Mitsubishi Electric Corporation
ZF Friedrichshafen Manufacturing Company

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