Middle East & Africa Automotive Steering System Market Forecast to 2028 -Regional Analysis by Type (Electronic Power Steering, Hydraulic Power Steering, and Electro-Hydraulic Power Steering), Product Type (Column Drive and Rack Drive), and Vehicle Type (P

Middle East & Africa Automotive Steering System Market Forecast to 2028-Regional Analysis by Type (Electronic Power Steering, Hydraulic Power Steering, and Electro-Hydraulic Power Steering), Product Type (Column Drive and Rack Drive), and Vehicle Type (Passenger Cars and Commercial Vehicles)

The Middle East & Africa automotive steering system market was valued at US$ 658.37 million in 2021 and is projected to reach US$ 805.86 million by 2028; it is expected to grow at a CAGR of 2.9% from 2021 to 2028.

Rise in Integration of EPS and Advanced Driver-Assistance Systems (ADAS) is Driving the Middle East & Africa Automotive Steering System Market

The automotive industry has reacted to the global demand to reduce emissions by accelerating the electrification of several typically mechanical systems. Anything from supercharging to power steering has been electrified to minimize emissions while also improving safety, simplifying operations, and providing a better driving experience. Electronic power steering systems have many advantages over their hydraulic counterparts, including reduced weight, maintenance, and fuel consumption, as well as improved variable steering response at various speeds. Simultaneously, the simplicity of integrating features such as electronic stability control and self-parking is fueling their demand. Owing to the versatility of EPS, many manufacturers are working on integrating it with other smart systems already in use in ADAS to increase vehicle safety and enhance the driving experience. For instance, Maserati switched its Ghibli, Quattroporte, and Levante models to electronic power steering in the models introduced in 2018, allowing new driver assistance systems. Similarly, Nexteer Automotive Corporation also introduced EPS that ensures safety through driver assistance by the integration ADAS systems with the electronic power steering systems.

Middle East & Africa Automotive Steering System Market Overview

The Middle East & Africa includes South Africa and the Rest of Middle East & Africa. The region is expected to see a rapid rise in marketing and industrialization, which would further propel the growth of diverse industries, including automotive. The Gulf countries are economically advanced, while the African countries still have to balance with the economic conditions of the Gulf countries. Several factors such as increase in passenger cars and commercial vehicles on the road, rise in demand for electric vehicles, and introduction of automated technology integrated cars, are positively affecting the automotive steering system market. In 2020, 720,156 units of vehicles were produced in Africa. Increasing car production and sales, growing disposable incomes, and rising demand for automotive steering systems are driving the market in the Middle East & Africa.

Middle East & Africa Automotive Steering System Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa Automotive Steering System Market Segmentation

The Middle East & Africa automotive steering system market is segmented into type, product type, vehicle type, and country.

The Middle East & Africa automotive steering system market, by type, is segmented into electronic power steering, hydraulic power steering, electro-hydraulic power steering. The electronic power steering accounted for the highest share in the Middle East & Africa automotive steering system market in 2021.

The Middle East & Africa automotive steering system market, by product type, is bifurcated into column drive and rack drive. The rack drive segment held the largest market share in 2021.

The Middle East & Africa automotive steering system market, based on vehicle type, is segmented into passenger vehicles and commercial vehicles. In 2021, the passenger vehicle segment accounted for the highest share in the Middle East & Africa automotive steering system market.

Based on country, the Middle East & Africa automotive steering system market is segmented into South Africa and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the market in 2021.

Nexteer Automotive Corp; JTEKT Corp; Mando Co Ltd; NSK Ltd; and ThyssenKrupp AG are the leading companies operating in the Middle East & Africa automotive steering system market.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Middle East & Africa automotive steering system market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Middle East & Africa automotive steering system market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the automotive steering system market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution Show more