Oman automotive steering market report Size, Share, Growth Drivers, Trends, Opportunities & Forecast 2025–2030
Description
Oman Automotive Steering Market Overview
The Oman Automotive Steering Market is valued at USD 1.15 billion, based on a five-year historical analysis. This growth is primarily driven by the increasing demand for advanced steering technologies, particularly electric power steering systems, coupled with the rising automotive production and sales in the region. The shift towards electric vehicles and the integration of smart technologies in vehicles have further propelled the market's expansion, with EPS systems gaining significant traction due to their superior fuel efficiency, better response and control, and reduced maintenance requirements compared to traditional hydraulic systems.
Muscat, as the capital city, plays a pivotal role in the Oman Automotive Steering Market due to its status as a commercial hub and concentration of automotive sales infrastructure. Additionally, other cities like Salalah and Sohar contribute significantly to the market, driven by their growing automotive sectors and infrastructure development initiatives supported by government policies aimed at improving road networks and logistics capabilities. The increasing urbanization and consumer preference for vehicles with enhanced safety and comfort features in these regions are key factors for their dominance in the market.
The Omani government has implemented the Vehicle Safety Standards Regulation, issued by the Ministry of Transport, Communications and Information Technology in 2023, mandating the adoption of advanced safety features in all new vehicles, including electronic stability control and advanced driver-assistance systems. This regulation establishes compliance requirements for vehicle importers and manufacturers operating in Oman, with mandatory installation of safety systems that meet international standards. The regulation specifically requires steering systems to be compatible with ADAS features such as lane-keeping assist and collision avoidance systems, thereby directly influencing the demand for modern steering technologies that comply with these safety standards.
Oman Automotive Steering Market Segmentation
By Type:
The market can be segmented into various types of steering systems, including Hydraulic Power Steering (HPS), Electric Power Steering (EPS), Electro-Hydraulic Power Steering (EHPS), Manual Steering, and Steer-by-Wire Systems. Each type serves different vehicle requirements and consumer preferences, with EPS systems experiencing the most rapid adoption due to technological advancements and integration capabilities with modern vehicle electronics.
The Electric Power Steering (EPS) segment is currently dominating the market due to its energy efficiency, lightweight design, and enhanced driving comfort. As consumers increasingly seek fuel-efficient and environmentally friendly vehicles, EPS systems have gained substantial traction in the Omani market. The growing trend towards electric vehicles further supports the demand for EPS, as it aligns with the industry's shift towards sustainable technologies. Additionally, advancements in EPS technology, including the development of brushless motor systems and the integration of sensors for improved steering control, are driving its popularity. The seamless compatibility of EPS with advanced driver-assistance systems such as lane-keeping assist and automated parking has made it the preferred choice for automotive manufacturers operating in Oman.
By Vehicle Type:
The market is also segmented based on vehicle types, including Passenger Cars, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), Buses & Coaches, and Others. Each vehicle type has distinct steering system requirements based on size, weight, and intended use, with passenger cars representing the dominant segment in the Omani automotive market.
Passenger Cars represent the largest segment in the market, driven by the high demand for personal vehicles and the expanding automotive retail sector in Oman. The growing middle-class population and rising disposable incomes have led to a surge in passenger car sales, which in turn boosts the demand for advanced steering systems. The Omani passenger car market has shown consistent growth, with vehicle sales demonstrating strong momentum and continued expansion trends. Additionally, the trend towards electric and hybrid vehicles is further propelling the growth of this segment, as manufacturers increasingly adopt modern steering technologies to enhance vehicle performance, safety, and compliance with government-mandated safety standards. The integration of EPS systems with driver assistance features has become a key differentiator in the passenger car segment, driving consumer preferences towards vehicles equipped with advanced steering technologies.
Oman Automotive Steering Market Competitive Landscape
The Oman Automotive Steering Market is characterized by a dynamic mix of regional and international players. Leading participants such as ZF Friedrichshafen AG, JTEKT Corporation, Nexteer Automotive, Bosch Automotive Steering GmbH, thyssenkrupp AG, Mando Corporation, Hyundai Mobis Co., Ltd., NSK Ltd., Aisin Corporation, DENSO Corporation, American Axle & Manufacturing Holdings, Inc. (AAM), Sona BLW Precision Forgings Ltd. (Sona Comstar), ACDelco (General Motors), Hitachi Astemo, Ltd., Delphi Technologies (BorgWarner Inc.) contribute to innovation, geographic expansion, and service delivery in this space.
ZF Friedrichshafen AG
1915
Friedrichshafen, Germany
JTEKT Corporation
2006
Osaka, Japan
Nexteer Automotive
2010
Auburn Hills, Michigan, USA
Bosch Automotive Steering GmbH
1886
Schwäbisch Gmünd, Germany
thyssenkrupp AG
1999
Essen, Germany
Company
Establishment Year
Headquarters
Revenue from Oman Operations
Volume of Steering Systems Supplied (Units)
Product Portfolio Breadth (Types/Technologies Offered)
Local Partnerships or Distribution Agreements
Aftermarket Service Network Coverage
R&D Investment as % of Revenue
Oman Automotive Steering Market Industry Analysis
Growth Drivers
Increasing Vehicle Production:
The automotive sector in Oman is projected to produce approximately 50,000 vehicles in future, reflecting a 10% increase from the previous year. This growth is driven by rising consumer preferences and government support for local manufacturing. The increase in vehicle production directly correlates with the demand for automotive steering systems, as each vehicle requires a steering mechanism, thus boosting the overall market for steering components in the region.
Rising Consumer Demand for Safety Features:
In future, the demand for advanced safety features in vehicles is expected to rise, with 70% of consumers prioritizing safety in their purchasing decisions. This trend is pushing manufacturers to integrate sophisticated steering systems that enhance vehicle control and safety. As a result, the automotive steering market is likely to see increased investments in technologies that meet these consumer expectations, driving growth in the sector.
Technological Advancements in Steering Systems:
The Oman automotive steering market is witnessing significant technological advancements, particularly in electric power steering systems, which are projected to account for 60% of new vehicle models in future. These innovations not only improve fuel efficiency but also enhance driving comfort and safety. As manufacturers adopt these technologies, the demand for modern steering solutions is expected to rise, further propelling market growth.
Market Challenges
High Import Duties on Automotive Components:
Oman imposes import duties of up to 15% on automotive components, which significantly raises the cost of sourcing steering systems from international suppliers. This financial burden can deter local manufacturers from acquiring advanced technologies, limiting their competitiveness in the market. Consequently, high import duties pose a substantial challenge to the growth of the automotive steering market in Oman.
Limited Local Manufacturing Capabilities:
The local manufacturing capabilities in Oman are currently limited, with only 20% of automotive components being produced domestically. This reliance on imports not only increases costs but also affects the supply chain's efficiency. As a result, the lack of robust local manufacturing infrastructure presents a significant challenge for the automotive steering market, hindering its potential growth and innovation.
Oman Automotive Steering Market Future Outlook
The future of the Oman automotive steering market appears promising, driven by the increasing adoption of electric vehicles and advancements in autonomous driving technologies. As the government continues to invest in infrastructure and promote electric vehicle adoption, the demand for innovative steering solutions is expected to rise. Additionally, the integration of advanced driver assistance systems will further enhance the market's growth, positioning Oman as a competitive player in the automotive sector.
Market Opportunities
Expansion of Electric Vehicle Market:
The electric vehicle market in Oman is anticipated to grow significantly, with projections indicating that sales could reach 10,000 units in future. This growth presents a substantial opportunity for steering system manufacturers to develop specialized solutions tailored for electric vehicles, enhancing their market presence and profitability.
Development of Autonomous Driving Technologies:
As Oman invests in smart city initiatives, the development of autonomous driving technologies is gaining traction. In future, it is expected that 15% of new vehicles will incorporate some level of automation. This trend offers a lucrative opportunity for steering system manufacturers to innovate and provide advanced solutions that cater to the evolving needs of the automotive industry.
Please Note: It will take 5-7 business days to complete the report upon order confirmation.
The Oman Automotive Steering Market is valued at USD 1.15 billion, based on a five-year historical analysis. This growth is primarily driven by the increasing demand for advanced steering technologies, particularly electric power steering systems, coupled with the rising automotive production and sales in the region. The shift towards electric vehicles and the integration of smart technologies in vehicles have further propelled the market's expansion, with EPS systems gaining significant traction due to their superior fuel efficiency, better response and control, and reduced maintenance requirements compared to traditional hydraulic systems.
Muscat, as the capital city, plays a pivotal role in the Oman Automotive Steering Market due to its status as a commercial hub and concentration of automotive sales infrastructure. Additionally, other cities like Salalah and Sohar contribute significantly to the market, driven by their growing automotive sectors and infrastructure development initiatives supported by government policies aimed at improving road networks and logistics capabilities. The increasing urbanization and consumer preference for vehicles with enhanced safety and comfort features in these regions are key factors for their dominance in the market.
The Omani government has implemented the Vehicle Safety Standards Regulation, issued by the Ministry of Transport, Communications and Information Technology in 2023, mandating the adoption of advanced safety features in all new vehicles, including electronic stability control and advanced driver-assistance systems. This regulation establishes compliance requirements for vehicle importers and manufacturers operating in Oman, with mandatory installation of safety systems that meet international standards. The regulation specifically requires steering systems to be compatible with ADAS features such as lane-keeping assist and collision avoidance systems, thereby directly influencing the demand for modern steering technologies that comply with these safety standards.
Oman Automotive Steering Market Segmentation
By Type:
The market can be segmented into various types of steering systems, including Hydraulic Power Steering (HPS), Electric Power Steering (EPS), Electro-Hydraulic Power Steering (EHPS), Manual Steering, and Steer-by-Wire Systems. Each type serves different vehicle requirements and consumer preferences, with EPS systems experiencing the most rapid adoption due to technological advancements and integration capabilities with modern vehicle electronics.
The Electric Power Steering (EPS) segment is currently dominating the market due to its energy efficiency, lightweight design, and enhanced driving comfort. As consumers increasingly seek fuel-efficient and environmentally friendly vehicles, EPS systems have gained substantial traction in the Omani market. The growing trend towards electric vehicles further supports the demand for EPS, as it aligns with the industry's shift towards sustainable technologies. Additionally, advancements in EPS technology, including the development of brushless motor systems and the integration of sensors for improved steering control, are driving its popularity. The seamless compatibility of EPS with advanced driver-assistance systems such as lane-keeping assist and automated parking has made it the preferred choice for automotive manufacturers operating in Oman.
By Vehicle Type:
The market is also segmented based on vehicle types, including Passenger Cars, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), Buses & Coaches, and Others. Each vehicle type has distinct steering system requirements based on size, weight, and intended use, with passenger cars representing the dominant segment in the Omani automotive market.
Passenger Cars represent the largest segment in the market, driven by the high demand for personal vehicles and the expanding automotive retail sector in Oman. The growing middle-class population and rising disposable incomes have led to a surge in passenger car sales, which in turn boosts the demand for advanced steering systems. The Omani passenger car market has shown consistent growth, with vehicle sales demonstrating strong momentum and continued expansion trends. Additionally, the trend towards electric and hybrid vehicles is further propelling the growth of this segment, as manufacturers increasingly adopt modern steering technologies to enhance vehicle performance, safety, and compliance with government-mandated safety standards. The integration of EPS systems with driver assistance features has become a key differentiator in the passenger car segment, driving consumer preferences towards vehicles equipped with advanced steering technologies.
Oman Automotive Steering Market Competitive Landscape
The Oman Automotive Steering Market is characterized by a dynamic mix of regional and international players. Leading participants such as ZF Friedrichshafen AG, JTEKT Corporation, Nexteer Automotive, Bosch Automotive Steering GmbH, thyssenkrupp AG, Mando Corporation, Hyundai Mobis Co., Ltd., NSK Ltd., Aisin Corporation, DENSO Corporation, American Axle & Manufacturing Holdings, Inc. (AAM), Sona BLW Precision Forgings Ltd. (Sona Comstar), ACDelco (General Motors), Hitachi Astemo, Ltd., Delphi Technologies (BorgWarner Inc.) contribute to innovation, geographic expansion, and service delivery in this space.
ZF Friedrichshafen AG
1915
Friedrichshafen, Germany
JTEKT Corporation
2006
Osaka, Japan
Nexteer Automotive
2010
Auburn Hills, Michigan, USA
Bosch Automotive Steering GmbH
1886
Schwäbisch Gmünd, Germany
thyssenkrupp AG
1999
Essen, Germany
Company
Establishment Year
Headquarters
Revenue from Oman Operations
Volume of Steering Systems Supplied (Units)
Product Portfolio Breadth (Types/Technologies Offered)
Local Partnerships or Distribution Agreements
Aftermarket Service Network Coverage
R&D Investment as % of Revenue
Oman Automotive Steering Market Industry Analysis
Growth Drivers
Increasing Vehicle Production:
The automotive sector in Oman is projected to produce approximately 50,000 vehicles in future, reflecting a 10% increase from the previous year. This growth is driven by rising consumer preferences and government support for local manufacturing. The increase in vehicle production directly correlates with the demand for automotive steering systems, as each vehicle requires a steering mechanism, thus boosting the overall market for steering components in the region.
Rising Consumer Demand for Safety Features:
In future, the demand for advanced safety features in vehicles is expected to rise, with 70% of consumers prioritizing safety in their purchasing decisions. This trend is pushing manufacturers to integrate sophisticated steering systems that enhance vehicle control and safety. As a result, the automotive steering market is likely to see increased investments in technologies that meet these consumer expectations, driving growth in the sector.
Technological Advancements in Steering Systems:
The Oman automotive steering market is witnessing significant technological advancements, particularly in electric power steering systems, which are projected to account for 60% of new vehicle models in future. These innovations not only improve fuel efficiency but also enhance driving comfort and safety. As manufacturers adopt these technologies, the demand for modern steering solutions is expected to rise, further propelling market growth.
Market Challenges
High Import Duties on Automotive Components:
Oman imposes import duties of up to 15% on automotive components, which significantly raises the cost of sourcing steering systems from international suppliers. This financial burden can deter local manufacturers from acquiring advanced technologies, limiting their competitiveness in the market. Consequently, high import duties pose a substantial challenge to the growth of the automotive steering market in Oman.
Limited Local Manufacturing Capabilities:
The local manufacturing capabilities in Oman are currently limited, with only 20% of automotive components being produced domestically. This reliance on imports not only increases costs but also affects the supply chain's efficiency. As a result, the lack of robust local manufacturing infrastructure presents a significant challenge for the automotive steering market, hindering its potential growth and innovation.
Oman Automotive Steering Market Future Outlook
The future of the Oman automotive steering market appears promising, driven by the increasing adoption of electric vehicles and advancements in autonomous driving technologies. As the government continues to invest in infrastructure and promote electric vehicle adoption, the demand for innovative steering solutions is expected to rise. Additionally, the integration of advanced driver assistance systems will further enhance the market's growth, positioning Oman as a competitive player in the automotive sector.
Market Opportunities
Expansion of Electric Vehicle Market:
The electric vehicle market in Oman is anticipated to grow significantly, with projections indicating that sales could reach 10,000 units in future. This growth presents a substantial opportunity for steering system manufacturers to develop specialized solutions tailored for electric vehicles, enhancing their market presence and profitability.
Development of Autonomous Driving Technologies:
As Oman invests in smart city initiatives, the development of autonomous driving technologies is gaining traction. In future, it is expected that 15% of new vehicles will incorporate some level of automation. This trend offers a lucrative opportunity for steering system manufacturers to innovate and provide advanced solutions that cater to the evolving needs of the automotive industry.
Please Note: It will take 5-7 business days to complete the report upon order confirmation.
Table of Contents
90 Pages
- 1. Oman automotive steering Size, Share, Growth Drivers, Trends, Opportunities & – Market Overview
- 1.1. Definition and Scope
- 1.2. Market Taxonomy
- 1.3. Market Growth Rate
- 1.4. Market Segmentation Overview
- 2. Oman automotive steering Size, Share, Growth Drivers, Trends, Opportunities & – Market Size (in USD Bn), 2019–2024
- 2.1. Historical Market Size
- 2.2. Year-on-Year Growth Analysis
- 2.3. Key Market Developments and Milestones
- 3. Oman automotive steering Size, Share, Growth Drivers, Trends, Opportunities & – Market Analysis
- 3.1. Growth Drivers
- 3.1.1. Increasing Vehicle Production in Oman
- 3.1.2. Rising Consumer Demand for Enhanced Safety Features
- 3.1.3. Technological Advancements in Steering Systems
- 3.1.4. Government Initiatives Supporting Automotive Industry Growth
- 3.2. Restraints
- 3.2.1. High Import Duties on Automotive Components
- 3.2.2. Limited Local Manufacturing Capabilities
- 3.2.3. Fluctuating Raw Material Prices
- 3.2.4. Competition from Established Global Players
- 3.3. Opportunities
- 3.3.1. Expansion of Electric Vehicle Market in Oman
- 3.3.2. Development of Autonomous Driving Technologies
- 3.3.3. Increasing Investment in Automotive Infrastructure
- 3.3.4. Growing Demand for Lightweight Steering Solutions
- 3.4. Trends
- 3.4.1. Shift Towards Electric Power Steering Systems
- 3.4.2. Integration of Advanced Driver Assistance Systems (ADAS)
- 3.4.3. Focus on Sustainability and Eco-Friendly Materials
- 3.4.4. Rise of Connected Vehicles and IoT Applications
- 3.5. Government Regulation
- 3.5.1. Emission Standards for Automotive Manufacturing
- 3.5.2. Safety Regulations for Vehicle Components
- 3.5.3. Incentives for Electric Vehicle Adoption
- 3.5.4. Import Regulations for Automotive Parts
- 3.6. SWOT Analysis
- 3.7. Stakeholder Ecosystem
- 3.8. Competition Ecosystem
- 4. Oman automotive steering Size, Share, Growth Drivers, Trends, Opportunities & – Market Segmentation, 2024
- 4.1. By Type (in Value %)
- 4.1.1. Hydraulic Power Steering (HPS)
- 4.1.2. Electric Power Steering (EPS)
- 4.1.3. Electro-Hydraulic Power Steering (EHPS)
- 4.1.4. Manual Steering
- 4.1.5. Steer-by-Wire Systems
- 4.2. By Vehicle Type (in Value %)
- 4.2.1. Passenger Cars
- 4.2.2. Light Commercial Vehicles (LCVs)
- 4.2.3. Heavy Commercial Vehicles (HCVs)
- 4.2.4. Buses & Coaches
- 4.2.5. Others
- 4.3. By Component (in Value %)
- 4.3.1. Steering Gear
- 4.3.2. Steering Column
- 4.3.3. Steering Wheel
- 4.3.4. Sensors & Actuators
- 4.4. By Sales Channel (in Value %)
- 4.4.1. OEMs
- 4.4.2. Aftermarket
- 4.5. By Distribution Mode (in Value %)
- 4.5.1. Direct Sales
- 4.5.2. Distributors
- 4.5.3. Retail Outlets
- 4.6. By Price Range (in Value %)
- 4.6.1. Economy
- 4.6.2. Mid-Range
- 4.6.3. Premium
- 4.7. By Application (in Value %)
- 4.7.1. Personal Use
- 4.7.2. Commercial Use
- 4.7.3. Fleet Management
- 4.7.4. Others
- 5. Oman automotive steering Size, Share, Growth Drivers, Trends, Opportunities & – Market Cross Comparison
- 5.1. Detailed Profiles of Major Companies
- 5.1.1. ZF Friedrichshafen AG
- 5.1.2. JTEKT Corporation
- 5.1.3. Nexteer Automotive
- 5.1.4. Bosch Automotive Steering GmbH
- 5.1.5. thyssenkrupp AG
- 5.2. Cross Comparison Parameters
- 5.2.1. Revenue
- 5.2.2. Market Share
- 5.2.3. Production Capacity
- 5.2.4. Number of Employees
- 5.2.5. Headquarters Location
- 6. Oman automotive steering Size, Share, Growth Drivers, Trends, Opportunities & – Market Regulatory Framework
- 6.1. Automotive Safety Standards
- 6.2. Compliance Requirements and Audits
- 6.3. Certification Processes
- 7. Oman automotive steering Size, Share, Growth Drivers, Trends, Opportunities & – Market Future Size (in USD Bn), 2025–2030
- 7.1. Future Market Size Projections
- 7.2. Key Factors Driving Future Market Growth
- 8. Oman automotive steering Size, Share, Growth Drivers, Trends, Opportunities & – Market Future Segmentation, 2030
- 8.1. By Type (in Value %)
- 8.2. By Vehicle Type (in Value %)
- 8.3. By Component (in Value %)
- 8.4. By Sales Channel (in Value %)
- 8.5. By Distribution Mode (in Value %)
- 8.6. By Price Range (in Value %)
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