Name: Automotive Steering Systems Market by Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), by Technology (Electronic Steering, Hydraulic Steering, Manual Steering, Electro-hydraulic Steering) and by Region, Global trends and forecast from 2019 to 2028
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Author: Exactitude Consultancy
ISBN: 1802

Automotive Steering Systems Market Overview

The global automotive steering systems market is expected to grow at a 4.5% CAGR from 2019 to 2028. It is expected to reach above USD 40 billion by 2028 from USD 27 billion in 2019.

Globally, the burgeoning demand for vehicles has directly propelled the expansion of the automotive steering system market. Numerous manufacturers are actively engaged in developing innovative technologies for steering systems. A diverse range of technologies, including Steer by Wire (SbW) and control technology, are being integrated into automotive steering systems.

Steer by Wire (SbW) technology offers numerous advantages for vehicle safety and performance. This technology replaces the traditional mechanical steering linkage between the driver's hands and the vehicle's wheels with electronic components, algorithms, and actuators. It delivers precise and swift steering response while also dampening road vibrations, thereby enhancing driver comfort. Additionally, it facilitates weight reduction, reduces maintenance costs, and simplifies the design of autonomous vehicles. For instance, Infiniti, a luxury vehicle division of Nissan, has incorporated Steer by Wire (SbW) technology into their Q50 model variant.

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Automotive Steering Systems Market | Exactitude Consultancy[/caption]

In the long run, the increasing integration of steering-mounted electronics, which enhance user intuitiveness, stands out as a primary driver fueling the growth of the automotive steering market. Over the past two decades, steering systems have been utilized to control various functions within the vehicle dashboard, including radio and music controls, cruise control, climate control, and an array of additional features such as call management.

Furthermore, owing to advancements in steering-assisted safety technology, steering systems are becoming more adaptable and suitable for diverse driving conditions and speeds. Steering-assist technologies such as ASR (Adaptive Steering Response) and DSR (Dynamic Steering Response) adjust the steering feel based on vehicle velocity and prevailing driving conditions by minimizing lateral and yaw motions.

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Automotive Steering Systems Market | Exactitude Consultancy[/caption]

Automotive Steering Systems Market Segment Analysis

The global automotive steering system market has been segmented based on technology, component, vehicle type, sales channel, and region

Based on technology market is divided into Electronic Steering, Hydraulic Steering, Manual Steering, Electro-hydraulic Steering. In terms of volume and revenue, the electric power steering segment dominated the automotive steering system market in 2020. The growing consumer preference for comfort while driving is expected to drive up demand for electric power steering systems. The hydraulic power steering segment also had a sizable market share.

Based on vehicle type market is divided into passenger cars, light commercial vehicles, heavy commercial vehicles. The global automotive steering system market was dominated by the passenger vehicle segment. The global increase in passenger vehicle sales is also expected to propel the market. The increase in consumer purchasing power around the world is expected to increase vehicle sales, which will fuel the global automotive steering system market.

Automotive Steering Systems Market Players

The key players operating in the automotive steering system market include China Automotive Systems Inc., JTEKT Corporation, Nexteer Automotive, Mando Corporation, ThyssenKrupp Presta AG, Robert Bosch Automotive Steering GmbH, Showa Corporation, NSK Ltd, Mitsubishi Electric Corporation, Sona Koyo Steering Systems Ltd., and Hyundai Mobis Co. Ltd.

Who Should Buy? Or Key stakeholders

Manufacturers of automotive steering systems.
Technology/system providers of automotive steering systems.
Traders, distributors, and automotive steering systems suppliers.
Government and regional agencies and research organizations.
Investment research firms.
Others

Automotive Steering Systems Market Regional Analysis

The automotive steering systems market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).

North America: includes the US, Canada, Mexico
Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
South America: includes Brazil, Argentina and Rest of South America
Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA

Asia Pacific accounts for the largest share of the global automotive steering system market due to significant presence of key market players in the region. The Asia Pacific automotive steering system market is growing rapidly due to rapid economic growth. Manufacturers operating in the Asia Pacific are gaining profitable growth opportunities by focusing on expanding their market share by engaging in collaborations, partnerships, and mergers & acquisitions. The rising spending capacity of consumers is also driving the market for automotive steering system in Asia Pacific.

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Moreover, rising vehicle production in all regions of Asia Pacific is also influencing the demand for the automotive steering system market. Apart from this, rapid expansion of small and medium-scale automotive manufacturing industries across Asia Pacific is contributing to the expansion of the automotive steering system market in the region.

Key Market Segments: Automotive Steering Systems Market

Automotive Steering Systems Market by Vehicle Type, 2019-2028, (In USD Billion)

Passenger Vehicle
Commercial Vehicle
Light Commercial Vehicles
Heavy Commercial Vehicles

Automotive Steering Systems Market by Technology, 2019-2028, (In USD Billion)

Electronic Power Steering
Hydraulic Power Steering
Electro-Hydraulic Power Steering

Automotive Steering Systems Market by Region, 2019-2028, (In USD Million)

North America
Europe
Asia Pacific
South America
The Middle East and Africa

Important Countries In All Regions Are Covered.

Key Question Answered

What are the key factors influencing the growth of automotive steering systems?
What are the major applications for automotive steering systems?
Who are the major manufacturers?
What will the market growth rate, growth momentum, or acceleration the market carries during the forecast period?

INTRODUCTION
1. MARKET DEFINITION
2. MARKET SEGMENTATION
3. RESEARCH TIMELINES
4. ASSUMPTIONS AND LIMITATIONS

RESEARCH METHODOLOGY
1. DATA MINING
  1. SECONDARY RESEARCH
  2. PRIMARY RESEARCH
  3. SUBJECT-MATTER EXPERTS’ ADVICE
2. QUALITY CHECKS
  1. FINAL REVIEW
3. DATA TRIANGULATION
  1. BOTTOM-UP APPROACH
  2. TOP-DOWN APPROACH
  3. RESEARCH FLOW
4. DATA SOURCES

EXECUTIVE SUMMARY

MARKET OVERVIEW
1. GLOBAL AUTOMOTIVE STEERING SYSTEMS MARKET OUTLOOK
  1. MARKET DRIVERS
  2. MARKET RESTRAINTS
  3. MARKET OPPORTUNITIES
2. IMPACT OF COVID-19 ON AUTOMOTIVE STEERING SYSTEMS MARKET
3. PORTER’S FIVE FORCES MODEL
  1. THREAT FROM NEW ENTRANTS
  2. THREAT FROM SUBSTITUTES
  3. BARGAINING POWER OF SUPPLIERS
  4. BARGAINING POWER OF CUSTOMERS
  5. DEGREE OF COMPETITION
4. INDUSTRY VALUE CHAIN ANALYSIS

GLOBAL AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY
1. ELECTRONIC POWER STEERING
2. HYDRAULIC POWER STEERING
3. ELECTRO-HYDRAULIC POWER STEERING

GLOBAL AUTOMOTIVE STEERING SYSTEMS MARKET, BY VEHICLE TYPE
1. PASSENGER VEHICLE
2. COMMERCIAL VEHICLE
  1. LIGHT COMMERCIAL VEHICLES
  2. HEAVY COMMERCIAL VEHICLES

GLOBAL AUTOMOTIVE STEERING SYSTEMS MARKET, BY REGION
1. NORTH AMERICA
  1. US
  2. CANADA
  3. MEXICO
2. SOUTH AMERICA
  1. BRAZIL
  2. ARGENTINA
  3. COLOMBIA
  4. REST OF SOUTH AMERICA
3. EUROPE
  1. GERMANY
  2. UK
  3. FRANCE
  4. ITALY
  5. SPAIN
  6. RUSSIA
  7. REST OF EUROPE
4. ASIA PACIFIC
  1. INDIA
  2. CHINA
  3. JAPAN
  4. SOUTH KOREA
  5. AUSTRALIA
  6. SOUTH-EAST ASIA
  7. REST OF ASIA PACIFIC
5. MIDDLE EAST AND AFRICA
  1. UAE
  2. SAUDI ARABIA
  3. SOUTH AFRICA
  4. REST OF THE MIDDLE EAST AND AFRICA

COMPANY PROFILES
1. NEXTEER AUTOMOTIVE GROUP LIMITED
2. JTEKT CORPORATION
3. HYUNDAI MOBIS CO., LTD.
4. SHOWA CORPORATION
5. NSK LTD
6. ROBERT BOSCH GMBH
7. HITACHI AUTOMOTIVE SYSTEM
8. MANDO CORPORATION
9. MAGNA INTERNATIONAL

LIST OF TABLES

TABLE 1                GLOBAL AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 2                GLOBAL AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 3                GLOBAL AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 4                GLOBAL AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 5                GLOBAL AUTOMOTIVE STEERING SYSTEMS MARKET BY REGION (USD MILLIONS) 2019-2028

TABLE 6                GLOBAL AUTOMOTIVE STEERING SYSTEMS MARKET BY REGION (THOUSAND UNITS) 2019-2028

TABLE 7                US AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 8                US AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 9                US AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 10              US AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 11              CANADA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 12              CANADA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 13              CANADA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 14              CANADA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 15              MEXICO AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 16              MEXICO AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 17              MEXICO AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 18              MEXICO AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 19              BRAZIL AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 20              BRAZIL AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 21              BRAZIL AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 22              BRAZIL AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 23              ARGENTINA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 24              ARGENTINA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 25              ARGENTINA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 26              ARGENTINA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 27              COLOMBIA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 28              COLOMBIA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 29              COLOMBIA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 30              COLOMBIA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 31              REST OF SOUTH AMERICA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 32              REST OF SOUTH AMERICA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 33              REST OF SOUTH AMERICA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 34              REST OF SOUTH AMERICA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 35              INDIA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 36              INDIA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 37              INDIA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 38              INDIA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 39              CHINA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 40              CHINA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 41              CHINA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 42              CHINA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 43              JAPAN AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 44              JAPAN AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 45              JAPAN AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 46              JAPAN AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 47              SOUTH KOREA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 48              SOUTH KOREA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 49              SOUTH KOREA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 50              SOUTH KOREA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 51              AUSTRALIA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 52              AUSTRALIA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 53              AUSTRALIA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 54              AUSTRALIA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 55              SOUTH-EAST ASIA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 56              SOUTH-EAST ASIA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 57              SOUTH-EAST ASIA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 58              SOUTH-EAST ASIA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 59              REST OF ASIA PACIFIC AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 60              REST OF ASIA PACIFIC AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 61              REST OF ASIA PACIFIC AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 62              REST OF ASIA PACIFIC AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 63              GERMANY AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 64              GERMANY AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 65              GERMANY AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 66              GERMANY AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 67              UK AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 68              UK AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 69              UK AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 70              UK AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 71              FRANCE AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 72              FRANCE AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 73              FRANCE AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 74              FRANCE AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 75              ITALY AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 76              ITALY AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 77              ITALY AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 78              ITALY AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 79              SPAIN AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 80              SPAIN AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 81              SPAIN AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 82              SPAIN AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 83              RUSSIA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 84              RUSSIA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 85              RUSSIA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 86              RUSSIA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 87              REST OF EUROPE AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 88              REST OF EUROPE AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 89              REST OF EUROPE AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 90              REST OF EUROPE AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 91              UAE AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 92              UAE AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 93              UAE AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 94              UAE AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 95              SAUDI ARABIA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 96              SAUDI ARABIA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 97              SAUDI ARABIA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 98              SAUDI ARABIA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 99              SOUTH AFRICA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 100            SOUTH AFRICA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 101            SOUTH AFRICA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 102            SOUTH AFRICA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

TABLE 103            REST OF MIDDLE EAST AND AFRICA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (USD MILLIONS) 2019-2028

TABLE 104            REST OF MIDDLE EAST AND AFRICA AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY (THOUSAND UNITS) 2019-2028

TABLE 105            REST OF MIDDLE EAST AND AFRICA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (USD MILLIONS) 2019-2028

TABLE 106            REST OF MIDDLE EAST AND AFRICA AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (THOUSAND UNITS) 2019-2028

LIST OF FIGURES

FIGURE 1        MARKET DYNAMICS

FIGURE 2        MARKET SEGMENTATION

FIGURE 3        REPORT TIMELINES: YEARS CONSIDERED

FIGURE 4        DATA TRIANGULATION

FIGURE 5        BOTTOM-UP APPROACH

FIGURE 6        TOP-DOWN APPROACH

FIGURE 7        RESEARCH FLOW

FIGURE 8        GLOBAL AUTOMOTIVE STEERING SYSTEMS MARKET BY TECHNOLOGY, USD MILLION, 2019-2028

FIGURE 9        GLOBAL AUTOMOTIVE STEERING SYSTEMS MARKET BY VEHICLE TYPE (KILOTONS) 2019-2028

FIGURE 10     GLOBAL AUTOMOTIVE STEERING SYSTEMS MARKET BY APPLICATION, USD MILLION, 2019-2028

FIGURE 11     GLOBAL AUTOMOTIVE STEERING SYSTEMS MARKET BY REGION, USD MILLION, 2019-2028

FIGURE 12     PORTER’S FIVE FORCES MODEL

FIGURE 13     North America AUTOMOTIVE STEERING SYSTEMS Market Snapshot

FIGURE 14     Europe AUTOMOTIVE STEERING SYSTEMS Market Snapshot

FIGURE 15     Asia Pacific AUTOMOTIVE STEERING SYSTEMS Market Snapshot

FIGURE 16     South America AUTOMOTIVE STEERING SYSTEMS Market Snapshot

FIGURE 17   Middle East & Africa AUTOMOTIVE STEERING SYSTEMS Market Snapshot

FIGURE 18     COMPANY NAME: COMPANY SNAPSHOT

Identifying Key Products in the Market

The identification of key products in any market is pivotal for understanding what drives consumer interest, technological innovation, and competitive advantage. Here’s how to approach this:
Market Analysis Reports: Start with syndicated market analysis reports from firms like Nielsen, Euromonitor, or specialized industry analysts. These reports often highlight leading products based on sales data, innovation, and consumer feedback.
Patent Filings: Reviewing patent filings can provide insight into technological innovations and future products that may impact the market. Databases like the United States Patent and Trademark Office (USPTO) or the World Intellectual Property Organization (WIPO) can be invaluable.
Ecommerce Platforms and Retailer Websites: Analyzing bestselling products and customer reviews on platforms such as Amazon, Flipkart, or direct retailer websites can offer direct insights into consumer preferences and product popularity.
Consumer Surveys and Feedback: Conducting surveys or analyzing online forums and social media can reveal consumer preferences, pain points, and desired features in products. Tools like SurveyMonkey, Google Surveys, or social listening platforms can facilitate this process.

Segmenting the Market and Products

Market and product segmentation is crucial for targeting marketing efforts and product development. Here’s a methodology for segmenting based on technical specifications:
Technical Specifications Review: Compile a comprehensive list of products within the market, focusing on their technical specifications. This could involve processor speeds for electronics, ingredients for food products, or material composition for apparel.
Factor Analysis: Use statistical techniques like factor analysis to group products based on shared technical specifications. This method helps identify underlying relationships between different specifications and how they cluster together.
Expert Consultation: Engage with industry experts or technical specialists to ensure that the segmentation makes sense from both a market and a technical perspective. This step ensures the practical relevance of the segments identified.

Identifying and Classifying Key Application Segments

Understanding how products are used in different applications is essential for market strategy:
Use Case Analysis: Identify common use cases for products by reviewing product literature, customer testimonials, and case studies. This helps understand the variety of applications each product serves.
Industry Surveys: Conduct surveys targeting professionals in the field to understand how and why certain products are preferred in specific applications. This can also reveal unmet needs in the market.
ApplicationBased Segmentation: Group products based on their primary applications, considering factors such as industry use, consumer vs. professional use, and environmental conditions.

Calculating Market Size Using TopDown and BottomUp Approaches

Estimating the market size accurately is fundamental for strategic planning:
TopDown Approach: Start with global industry data and narrow down to the target market by applying known market shares or segmentation percentages. Industry reports and financial databases are key sources for this approach.
BottomUp Approach: Aggregate sales data or unit shipments from all known market participants. This might require gathering data from company reports, industry associations, and sales channels.
Combining Approaches: Validate the market size estimates by comparing the results from both approaches. Discrepancies can highlight areas requiring further investigation.

Calculating the CAGR for the Market

The Compound Annual Growth Rate (CAGR) is a useful measure to understand market growth over time:
Historical Sales Data: Gather historical sales or market size data over a defined period. Public company filings, industry reports, and government databases can be sources for this data.
CAGR Formula: Apply the CAGR formula \[CAGR = (EV/BV)^{1/n} 1\], where EV is the end value, BV is the beginning value, and n is the number of periods.
Segment and Overall Market CAGR: Calculate CAGR for both the overall market and individual segments to understand growth patterns.

Sources for Secondary or Desk Research

Identifying the right sources is crucial for accurate desk research:
Industry and Market Research Reports: Sources like IBISWorld, Statista, and Frost & Sullivan offer comprehensive industry reports.
Government and International Organizations: Websites of the U.S. Census Bureau, World Bank, and OECD provide economic and industry specific data.
Academic Journals: Platforms like Google Scholar and JSTOR can offer peer reviewed articles on market trends and consumer behavior.
News Archives and Trade Publications: Stay informed on industry developments through sources like Bloomberg, Reuters, and specific trade journals relevant to the market in question.
Each of these steps requires careful consideration and a systematic approach to ensure that the market research report is robust, insightful, and actionable.

Automotive Steering Systems Market

Base Year Value ()

CAGR ()

Forecast Year Value ()

Historical Data Period

Largest Region

Forecast Period