Projection of Revenue Growth:
The Automotive Steering Systems Market was valued at USD 32.12 Billion in 2022, and is expected to reach USD 44.30 Billion by 2029, exhibiting a CAGR of 4.7% during the forecast period (2023-2029)
Automotive Steering Systems Market Overview:
Maximize Market Research, a leading business research firm, has released a comprehensive report on the “Automotive Steering Systems Market.” This report delivers an in-depth industry analysis, including business insights, demand trends, pricing strategies, and an examination of the competitive landscape, all for the forecast period.
Automotive Steering Systems Market Report Scope:
The report provides a thorough examination of the Automotive Steering Systems Market through detailed segmental analysis, market dynamics, and a competitive landscape overview. Data is sourced from both primary and secondary research methods, including government websites, news articles, and company annual reports. The study highlights key players in the Automotive Steering Systems Market, recent innovations, and notable mergers and acquisitions. Additionally, the report offers insights into the drivers, challenges, opportunities, and trends influencing the Automotive Steering Systems Market. Market size estimates are derived using a bottom-up approach, and the analysis includes a competitive assessment and key factors contributing to the market’s expansion.
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Automotive Steering Systems Market Regional Insights:
In terms of market share, the Europe region led the worldwide automobile steering systems market in 2022. The automotive industry in Europe is essential to the success of the continent. The area has been dubbed Industry 4.0 due to the significant improvements made to its industrial solutions. To preserve its technological superiority and boost the automotive industry’s competitiveness, the European Commission is focusing its research and development budget on this area.
Segment Covered in the Automotive Steering Systems Market:
by Component
1. Hydraulic Pump
2. Steering Column
3. Electric Motor
4. Steering Wheel Speed Sensor
by Technology
1. Electric power steering (EPS)
2. Electrically assisted hydraulic power steering (EHPS)
3. Hydraulic power steering (HPS)
by EPS Type
1. Column-EPS (C-EPS)
2. Pinion-EPS (P-EPS)
3. Rack-EPS (R-EPS)
by Pinion-Type
1. Single
2. Dual
by Mechanism
1. Collapsible EPS
2. Rigid EPS
by Vehicle Type
1. Passenger Car (PC)
2. Light Commercial Vehicle (LCV)
3. Heavy Commercial Vehicle (HCV)
List of the Key Players in the Automotive Steering Systems Market:
1. China Automotive Systems, Inc.
2. Nexteer Automotive
3. Hitachi Automotive Systems Americas, Inc.
4. Hyundai Mobis
5. JTEKT Corporation
6. The Mando Corporation
7. NSK Ltd.
8. Robert Bosch GmbH
9. Showa Corporation
10. ThyssenKrupp AG
11. Magna International
12. Mitsubishi Electric Corporation
13. Denso Corporation
14. Sona Corporation
15. Knorr-Bremse AG
16. ZF Friedrichshafen AG
17. Rollax GmbH & Co. KG
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Key questions answered in the Automotive Steering Systems Market are:
- What recent industry trends can be leveraged to create new revenue streams in the Automotive Steering Systems Market?
- What are the various segments within the Automotive Steering Systems Market?
- Who are the major companies in the Automotive Steering Systems Market, and what do their portfolios include?
- What is the Automotive Steering Systems Market?
- What was the historical market size of the Automotive Steering Systems Market?
- What is the current growth rate of the Automotive Steering Systems Market?
- What factors are anticipated to drive growth in the Automotive Steering Systems Market?
- Who are the leading players in the Automotive Steering Systems Market?
- What are the different segments of the Automotive Steering Systems Market?
- What strategies are companies employing to expand their presence in the Automotive Steering Systems Market?
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