Automotive Steering System Market Size Report - Growth & Forecasts 2028

Automotive Steering System Market Forecast to 2028 - Global 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)

Publication Month : May 2023

  • Report Code : TIPAT100001344
  • Category : Automotive and Transportation
  • Status : Published
  • No. of Pages : 179
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[Research Report] The global automotive steering system market was valued at US$ 22,501.01 million in 2020 and is projected to reach US$ 30,875.8 million by 2028; it is expected to grow at a CAGR of 4.3% during 2021–2028.

There is an increase in use of buses and trucks worldwide, especially for logistics and public transportation. In Asia, Oceania, and Europe, public transportation is preferred over private transportation, while in North America, private cars are the primary mode of transportation. As the population in urban areas is growing, there is a need for increased public transit, and the current transportation infrastructure is proving inadequate. OEMs worldwide are now focused on lowering global carbon emissions, which is leading to increase in use of electric cars. Passenger cars and taxis are concentrating more on the introduction of greener technology as the demand increases. The manufacturers are concentrating their efforts on electrification of vehicles, especially passenger cars. Several countries worldwide are putting a lot of work into creating green transportation. For example, in May 2019, China's Ministry of Transport and other ministries jointly released the Green Travel Action Plan for 2019–2022, which encourages the use of green vehicles. In addition, the country will continue to improve public transportation and information systems that promote green transportation.

Governments across the world are taking several steps to minimize CO2 emissions. They are providing tax cuts and incentives to promote the use of electric vehicles in public transportation, such as e-trucks and e-buses. BYD K9, Mercedes Benz electric truck, and Tata Starbus Hybrid e-buses are a few examples of electric vehicle models. Some commercial vehicle manufacturers have recently unveiled electric buses, and others have announced plans to convert full-size trucks and pickup trucks to battery-electric platforms. Thus, the rising demand for electric vehicles is contributing to the growth of the global automotive steering system market

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Automotive Steering System Market: Strategic Insights

automotive-steering-system-market
Market Size Value inUS$ 22,501.01 Million in 2020
Market Size Value byUS$ 30,875.8 Million by 2028
Growth rateCAGR of 4.3% from 2021-2028
Forecast Period2021-2028
Base Year2021
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Impact of COVID-19 Pandemic on Automotive Steering Market

As of March 2021, the US is the worst-hit country in North America, with around 30.5 million confirmed cases of infected individuals facing severe health conditions across the country. The continuous growth of infected individuals has led the government to impose lockdown across the nation’s borders. Majority of the manufacturing plants are shut, municipalities are functioning slowly as compared to past, and the automotive and semiconductor industries are at a halt, which is negatively impacting the automotive steering system market. In terms of patient count and death toll, Canada and Mexico are still at a nascent stage than the US. However, the manufacturing plants, the automotive industry, and several other businesses are functioning slowly, which is hindering the automotive steering system market. The COVID-19 outbreak would have a limited but negative short-term impact on the global market.

Lucrative Regions for Automotive Steering System Market

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Market Insights–Automotive Steering System Market 

Stringent Fuel Efficiency Norms Compel Demand for Automotive Steering Systems

Several governments across the world have enacted strict automotive emission and fuel economy legislations. Fleet-level regulations have been enforced by regulatory bodies such as the National Highway Traffic and Safety Administration in the US and the International Council on Clean Transportation in Europe. Automobile manufacturers must adhere to the average pollution cap decided by these regulations. These regulations have pushed automakers to spend more in fuel-efficient steering systems such as electronic power steering. As opposed to conventional hydraulic steering systems, electrically assisted power steering systems are lighter in weight and have a simpler structure.

According to the US Department of Energy, in ideal conditions, electronic power steering (EPS) systems can improve fuel efficiency by 2 to 4%, reduce fuel consumption by up to 6%, and reduce CO2 emissions by 8 grams per kilometer. As per the estimates by Nexteer Automotive Corporation, EPS systems have saved nearly 3 billion gallons of gas since 1999. Unlike hydraulic systems, which pump fluid continuously when the engine is running, these systems only use power when the wheels are turned. Europe has the highest penetration of electrically assisted power steering, followed by North America and Asia Pacific. Thus, the various stringent government norms for ensuring fuel efficient vehicles on road are expected to influence the demand for EPS, thereby contributing to the market growth over the forecast period.

Type Segment Insights

Based on type, the automotive steering system market is segmented into electronic power steering, hydraulic power steering, and electro-hydraulic power steering. The electronic power steering accounted for the largest share in the global market in 2020. In the event of an accident, the collapsible steering column is a mechanism consisting of an upper column and a lower shaft, with the lower shaft going into a housing. In passenger cars and light commercial vehicles, this column is mounted. The primary factors driving the growth of collapsible steering columns in EPS systems are the growing development of passenger cars and light commercial vehicles, and increasing government mandates on road safety.

Vehicle Type Segment Insights

Based on vehicle type, the automotive steering system market is bifurcated into passenger vehicles and commercial vehicles. In 2020, the passenger vehicle segment accounted for a larger share in the global market. Because of the improved economic situation and increase in consumers' disposable incomes, the global automotive industry has seen steady growth in demand for and sales of passenger cars. From transportation to comfortable/convenient transportation, and from convenient transportation to luxurious and secure transportation, the world has seen a gradual change.

Automotive Steering System Market, by Vehicle Type (% Share)

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Source: The Insight Partners Analysis, Primary Interviews, Magazines and Journals, and Secondary Sources

The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.

  • In 2021, China Automotive Systems, Inc. launched a new EPS product to empower ADAS. This new EPS product is based upon proprietary technologies developed by CAAS' research & development team. The company had begun mass production of this product for new vehicle models of the leading Chinese automaker, Great Wall Motors. Seamlessly connected with vehicle data, CAAS' new EPS system enables drivers to adapt to different road conditions and significantly enhances user experiences.
  • In 2019, JTEKT Corporation was in an exhibition at the 46th Tokyo Motor Show 2019 held at Tokyo big sight from October 24 to November 4. The company showcased its electronic power steering systems.

The Global Automotive Steering System Market has been Segmented as Follows:

Automotive Steering System Market – by Type

  • Electronic Power Steering
  • Hydraulic Power Steering
  • Electro-Hydraulic Power Steering

Automotive Steering System Market – by Product Type

  • Column Drive
  • Rack Drive

Automotive Steering System Market – by Vehicle Type 

  • Passenger Cars
    • Class A
    • Class B
    • Class C 
    • Class D
    • Class E
    • Class F
    • SUV
    • MPV
  • Commercial Vehicles  
    • LCVs
    • MCVs
    • HCVs

Automotive Steering System Market – by Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • South Korea
    • Japan
    • Rest of APAC
  • Middle East & Africa (MEA)
    • South Africa
    • Rest of MEA
  • South America (SAM)
    • Brazil
    • Argentina
    • Rest of SAM  

Automotive Steering System Market – Companies Profiles

  • China Automotive Systems, Inc.
  • Nexteer Automotive
  • Hitachi Automotive Systems Americas, Inc.
  • Hyundai Mobis
  • JTEKT Corporation
  • The Mando Corporation
  • NSK Ltd.
  • Robert Bosch GmbH
  • HYCET Technology Co. Ltd.
  • ThyssenKrupp AG
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Product Type, and Vehicle Type

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, South Africa, South Korea, United Kingdom, United States

Frequently Asked Questions


Which region is the fastest growing region of the automotive steering system market?

Asia Pacific has a robust automotive industry, which is supported by the mounting automotive manufacturing industry in countries such as China and India. China, India, South Korea, and Japan are among the leading vehicle manufacturing countries across the world. Presence of a strong automotive sector and rise in number of passenger car and commercial vehicle manufacturers are among the major factors driving the automotive steering system market in the region. Continuous development in the economies of China and India and presence of huge disposable incomes in countries such as South Korea and Japan, have facilitated the swift growth of the automotive sector in APAC. The automotive manufacturers prefer incorporating cutting-edge solutions in their vehicles to attract a huge customer base and generate more revenues. Hence, robust automotive sector and surge in disposable incomes of people are supporting the growth of the automotive steering system market in APAC.

Which factor is driving growth of automotive steering system market?

Several governments across the world have enacted strict automotive emission and fuel economy legislations. Fleet-level regulations have been enforced by regulatory bodies such as the National Highway Traffic and Safety Administration in the US and the International Council on Clean Transportation in Europe. Automobile manufacturers must adhere to the average pollution cap decided by these regulations. These regulations have pushed automakers to spend more in fuel-efficient steering systems such as electronic power steering. The European region has the highest penetration of electrically assisted power steering, followed by North America and Asia Pacific. Thus, the various stringent government norms for ensuring fuel efficient vehicles on road are expected to influence the demand for EPS, thereby contributing to the market growth over the forecast period.

Which type of automotive steering led the automotive steering system market?

The electronic power system (EPS) led the market share in 2020 in the global market. Traditional steering systems, such as hydraulic and electro-hydraulic systems, are being replaced by an electronic power steering (EPS) system. The global demand for electronic power steering systems is being fueled by the growing popularity of self-driving vehicles. Vehicles with electronic power steering have a lower total weight while also improving fuel efficiency.

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 Automotive Steering System Market – By Type

1.3.2 Automotive Steering System Market – By Product Type

1.3.3 Automotive Steering System Market – By Vehicle Type

1.3.4 Automotive Steering System Market- By Region

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Automotive Steering System Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 North America

4.2.2 Europe

4.2.3 Asia Pacific

4.2.4 Middle East and Africa

4.2.5 South America

4.3 Ecosystem Analysis

4.4 Expert Opinions

5. Automotive Steering System Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Stringent Fuel Efficiency Norms Driving Adoption of Advanced Automotive Steering Systems

5.1.2 Rise in Demand for Electrification in Vehicles

5.2 Market Restraints

5.2.1 High Cost of Electronic Power Steering (EPS) System and Difficulties Associated with Its Maintenance

5.3 Market Opportunities

5.3.1 Integration of Technologically Advanced EPS Systems in Commercial Vehicles

5.4 Future Trends

5.4.1 Rise in Integration of EPS and Advanced Driver-Assistance Systems (ADAS)

5.5 Impact Analysis of Drivers and Restraints

6. Automotive Steering System Market – Global Analysis

6.1 Automotive Steering System Market Global Overview

6.2 Automotive Steering System Market – Global Revenue and Forecast to 2028 (US$ Million)

6.3 Market Positioning – Five Key Players

7. Automotive Steering System Market Analysis – By Type

7.1 Overview

7.2 Automotive Steering System Market Revenue Breakdown, By Type, 2020 and 2028

7.3 Electronic Power Steering

7.3.1 Overview

7.3.2 Electronic Power Steering: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Million)

7.4 Hydraulic Power Steering

7.4.1 Overview

7.4.2 Hydraulic Power Steering: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)

7.5 Electro-Hydraulic Power Steering

7.5.1 Overview

7.5.2 Electro-Hydraulic Power Steering: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)

8. Automotive Steering System Market Analysis – By Product Type

8.1 Overview

8.2 Automotive Steering System Market Revenue Breakdown, By Product Type, 2020 and 2028

8.3 Column Drive

8.3.1 Overview

8.3.2 Column Drive: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)

8.4 Rack Drive

8.4.1 Overview

8.4.2 Rack Drive: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)

9. Automotive Steering System Market Analysis – By Vehicle Type

9.1 Overview

9.2 Automotive Steering System Market Breakdown, By Vehicle Type, 2020 & 2028

9.3 Passenger cars

9.3.1 Overview

9.3.2 Passenger Cars: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)

9.3.2.1 Automotive Steering System Market, by Passenger Car Types- Revenue and Forecast to 2028 (US$ Mn)

9.4 Commercial Vehicles

9.4.1 Overview

9.4.2 Commercial Vehicles: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)

9.4.2.1 Automotive Steering System Market, by Commercial Vehicle Types- Revenue and Forecast to 2028 (US$ Mn)

10. Automotive Steering System Market – Geographic Analysis

10.1 Overview

10.2 North America: Automotive Steering System Market

10.2.1 North America: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.2.2 North America: Automotive Steering System Market, by Type

10.2.3 North America: Automotive Steering System Market, by Product Type

10.2.4 North America: Automotive Steering System Market, by Vehicle Type

10.2.5 North America: Automotive Steering System Market, by Key Country

10.2.5.1 US: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.2.5.1.1 US: Automotive Steering System Market, by Type

10.2.5.1.2 US: Automotive Steering System Market, by Product Type

10.2.5.1.3 US: Automotive Steering System Market, by Vehicle Type

10.2.5.1.4 US: Automotive Steering System Market, by Passenger Cars

10.2.5.1.5 US: Automotive Steering System Market, by Commercial Vehicles

10.2.5.2 Canada: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.2.5.2.1 Canada: Automotive Steering System Market, by Type

10.2.5.2.2 Canada: Automotive Steering System Market, by Product Type

10.2.5.2.3 Canada: Automotive Steering System Market, by Vehicle Type

10.2.5.2.4 Canada: Automotive Steering System Market, by Passenger Cars

10.2.5.2.5 Canada: Automotive Steering System Market, by Commercial Vehicles

10.2.5.3 Mexico: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.2.5.3.1 Mexico: Automotive Steering System Market, by Type

10.2.5.3.2 Mexico: Automotive Steering System Market, by Product Type

10.2.5.3.3 Mexico: Automotive Steering System Market, by Vehicle Type

10.2.5.3.4 Mexico: Automotive Steering System Market, by Passenger Cars

10.2.5.3.5 Mexico: Automotive Steering System Market, by Commercial Vehicles

10.3 Europe: Automotive Steering System Market

10.3.1 Europe: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.3.2 Europe: Automotive Steering System Market, by Type

10.3.3 Europe: Automotive Steering System Market, by Product Type

10.3.4 Europe: Automotive Steering System Market, by Vehicle Type

10.3.5 Europe: Automotive Steering System Market, by Key Country

10.3.5.1 Germany: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.3.5.1.1 Germany: Automotive Steering System Market, by Type

10.3.5.1.2 Germany: Automotive Steering System Market, by Product Type

10.3.5.1.3 Germany: Automotive Steering System Market, by Vehicle Type

10.3.5.1.4 Germany: Automotive Steering System Market, by Passenger Cars

10.3.5.1.5 Germany: Automotive Steering System Market, by Commercial Vehicles

10.3.5.2 France: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.3.5.2.1 France: Automotive Steering System Market, by Type

10.3.5.2.2 France: Automotive Steering System Market, by Product Type

10.3.5.2.3 France: Automotive Steering System Market, by Vehicle Type

10.3.5.2.4 France: Automotive Steering System Market, by Passenger Cars

10.3.5.2.5 France: Automotive Steering System Market, by Commercial Vehicles

10.3.5.3 Italy: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.3.5.3.1 Italy: Automotive Steering System Market, by Type

10.3.5.3.2 Italy: Automotive Steering System Market, by Product Type

10.3.5.3.3 Italy: Automotive Steering System Market, by Vehicle Type

10.3.5.3.4 Italy: Automotive Steering System Market, by Passenger Cars

10.3.5.3.5 Italy: Automotive Steering System Market, by Commercial Vehicles

10.3.5.4 UK: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.3.5.4.1 UK: Automotive Steering System Market, by Type

10.3.5.4.2 UK: Automotive Steering System Market, by Product Type

10.3.5.4.3 UK: Automotive Steering System Market, by Vehicle Type

10.3.5.4.4 UK: Automotive Steering System Market, by Passenger Cars

10.3.5.4.5 UK: Automotive Steering System Market, by Commercial Vehicles

10.3.5.5 Russia: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.3.5.5.1 Russia: Automotive Steering System Market, by Type

10.3.5.5.2 Russia: Automotive Steering System Market, by Product Type

10.3.5.5.3 Russia: Automotive Steering System Market, by Vehicle Type

10.3.5.5.4 Russia: Automotive Steering System Market, by Passenger Cars

10.3.5.5.5 Russia: Automotive Steering System Market, by Commercial Vehicles

10.3.5.6 Rest of Europe: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.3.5.6.1 Rest of Europe: Automotive Steering System Market, by Type

10.3.5.6.2 Rest of Europe: Automotive Steering System Market, by Product Type

10.3.5.6.3 Rest of Europe: Automotive Steering System Market, by Vehicle Type

10.3.5.6.4 Rest of Europe: Automotive Steering System Market, by Passenger Cars

10.3.5.6.5 Rest of Europe: Automotive Steering System Market, by Commercial Vehicles

10.4 APAC: Automotive Steering System Market

10.4.1 APAC: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.4.2 APAC: Automotive Steering System Market, by Type

10.4.3 APAC: Automotive Steering System Market, by Product Type

10.4.4 APAC: Automotive Steering System Market, by Vehicle Type

10.4.5 APAC: Automotive Steering System Market, by Key Country

10.4.5.1 China: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.4.5.1.1 China: Automotive Steering System Market, by Type

10.4.5.1.2 China: Automotive Steering System Market, by Product Type

10.4.5.1.3 China: Automotive Steering System Market, by Vehicle Type

10.4.5.1.4 China: Automotive Steering System Market, by Commercial Vehicles

10.4.5.2 India: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.4.5.2.1 India: Automotive Steering System Market, by Type

10.4.5.2.2 India: Automotive Steering System Market, by Product Type

10.4.5.2.3 India: Automotive Steering System Market, by Vehicle Type

10.4.5.2.4 India: Automotive Steering System Market, by Passenger Cars

10.4.5.2.5 India: Automotive Steering System Market, by Commercial Vehicles

10.4.5.3 Japan: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.4.5.3.1 Japan: Automotive Steering System Market, by Type

10.4.5.3.2 Japan: Automotive Steering System Market, by Product Type

10.4.5.3.3 Japan: Automotive Steering System Market, by Vehicle Type

10.4.5.3.4 Japan: Automotive Steering System Market, by Passenger Cars

10.4.5.3.5 Japan: Automotive Steering System Market, by Commercial Vehicles

10.4.5.4 South Korea: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.4.5.4.1 South Korea: Automotive Steering System Market, by Type

10.4.5.4.2 South Korea: Automotive Steering System Market, by Product Type

10.4.5.4.3 South Korea: Automotive Steering System Market, by Vehicle Type

10.4.5.4.4 South Korea: Automotive Steering System Market, by Passenger Cars

10.4.5.4.5 South Korea: Automotive Steering System Market, by Commercial Vehicles

10.4.5.5 Rest of APAC: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.4.5.5.1 Rest of APAC: Automotive Steering System Market, by Type

10.4.5.5.2 Rest of APAC: Automotive Steering System Market, by Product Type

10.4.5.5.3 Rest of APAC: Automotive Steering System Market, by Vehicle Type

10.4.5.5.4 Rest of APAC: Automotive Steering System Market, by Passenger Cars

10.4.5.5.5 Rest of APAC: Automotive Steering System Market, by Commercial Vehicles

10.5 MEA: Automotive Steering System Market

10.5.1 MEA: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.5.2 MEA: Automotive Steering System Market, by Type

10.5.3 MEA: Automotive Steering System Market, by Product Type

10.5.4 MEA: Automotive Steering System Market, by Vehicle Type

10.5.5 MEA: Automotive Steering System Market, by Key Country

10.5.5.1 South Africa: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.5.5.1.1 South Africa: Automotive Steering System Market, by Type

10.5.5.1.2 South Africa: Automotive Steering System Market, by Product Type

10.5.5.1.3 South Africa: Automotive Steering System Market, by Vehicle Type

10.5.5.1.4 South Africa: Automotive Steering System Market, by Passenger Cars

10.5.5.1.5 South Africa: Automotive Steering System Market, by Commercial Vehicles

10.5.5.2 Rest of MEA: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.5.5.2.1 Rest of MEA: Automotive Steering System Market, by Type

10.5.5.2.2 Rest of MEA: Automotive Steering System Market, by Product Type

10.5.5.2.3 Rest of MEA: Automotive Steering System Market, by Vehicle Type

10.5.5.2.4 Rest of MEA: Automotive Steering System Market, by Passenger Cars

10.5.5.2.5 Rest of MEA: Automotive Steering System Market, by Commercial Vehicles

10.6 SAM: Automotive Steering System Market

10.6.1 SAM: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.6.2 SAM: Automotive Steering System Market, by Type

10.6.3 SAM: Automotive Steering System Market, by Product Type

10.6.4 SAM: Automotive Steering System Market, by Vehicle Type

10.6.5 SAM: Automotive Steering System Market, by Key Country

10.6.5.1 Brazil: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.6.5.1.1 Brazil: Automotive Steering System Market, by Type

10.6.5.1.2 Brazil: Automotive Steering System Market, by Product Type

10.6.5.1.3 Brazil: Automotive Steering System Market, by Vehicle Type

10.6.5.1.4 Brazil: Automotive Steering System Market, by Passenger Cars

10.6.5.1.5 Brazil: Automotive Steering System Market, by Commercial Vehicles

10.6.5.2 Argentina: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.6.5.2.1 Argentina: Automotive Steering System Market, by Type

10.6.5.2.2 Argentina: Automotive Steering System Market, by Product Type

10.6.5.2.3 Argentina: Automotive Steering System Market, by Vehicle Type

10.6.5.2.4 Argentina: Automotive Steering System Market, by Passenger Cars

10.6.5.2.5 Argentina: Automotive Steering System Market, by Commercial Vehicles

10.6.5.3 Rest of SAM: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

10.6.5.3.1 Rest of SAM: Automotive Steering System Market, by Type

10.6.5.3.2 Rest of SAM: Automotive Steering System Market, by Product Type

10.6.5.3.3 Rest of SAM: Automotive Steering System Market, by Vehicle Type

10.6.5.3.4 Rest of SAM: Automotive Steering System Market, by Passenger Cars

10.6.5.3.5 Rest of SAM: Automotive Steering System Market, by Commercial Vehicles

11. Automotive Steering System Market- COVID-19 Impact Analysis

11.1 Overview

11.2 North America

11.3 Europe

11.4 Asia Pacific

11.5 Middle East and Africa

11.6 South America

12. Industry Landscape

12.1 Overview

12.2 Market Initiative

12.3 New Product Development

12.4 Merger and Acquisition

13. Company Profiles

13.1 China Automotive Systems Inc

13.1.1 Key Facts

13.1.2 Business Description

13.1.3 Products and Services

13.1.4 Financial Overview

13.1.5 SWOT Analysis

13.1.6 Key Developments

13.2 Nexteer Automotive Corp

13.2.1 Key Facts

13.2.2 Business Description

13.2.3 Products and Services

13.2.4 Financial Overview

13.2.5 SWOT Analysis

13.2.6 Key Developments

13.3 Hitachi Astemo Americas, Inc.

13.3.1 Key Facts

13.3.2 Business Description

13.3.3 Products and Services

13.3.4 Financial Overview

13.3.5 SWOT Analysis

13.3.6 Key Developments

13.4 Hyundai Mobis Co Ltd

13.4.1 Key Facts

13.4.2 Business Description

13.4.3 Products and Services

13.4.4 Financial Overview

13.4.5 SWOT Analysis

13.4.6 Key Developments

13.5 JTEKT Corp

13.5.1 Key Facts

13.5.2 Business Description

13.5.3 Products and Services

13.5.4 Financial Overview

13.5.5 SWOT Analysis

13.5.6 Key Developments

13.6 Mando Co Ltd

13.6.1 Key Facts

13.6.2 Business Description

13.6.3 Products and Services

13.6.4 Financial Overview

13.6.5 SWOT Analysis

13.6.6 Key Developments

13.7 NSK Ltd

13.7.1 Key Facts

13.7.2 Business Description

13.7.3 Products and Services

13.7.4 Financial Overview

13.7.5 SWOT Analysis

13.7.6 Key Developments

13.8 ThyssenKrupp AG

13.8.1 Key Facts

13.8.2 Business Description

13.8.3 Products and Services

13.8.4 Financial Overview

13.8.5 SWOT Analysis

13.8.6 Key Developments

13.9 Robert Bosch Automotive Steering GmBH

13.9.1 Key Facts

13.9.2 Business Description

13.9.3 Products and Services

13.9.4 Financial Overview

13.9.5 SWOT Analysis

13.9.6 Key Developments

13.10 HYCET Technology Co Ltd

13.10.1 Key Facts

13.10.2 Business Description

13.10.3 Products and Services

13.10.4 Financial Overview

13.10.5 SWOT Analysis

13.10.6 Key Developments

14. Appendix

14.1 About The Insight Partners

14.2 Word Index

LIST OF TABLES

Table 1. Automotive Steering System Market – Revenue, and Forecast to 2028 (US$ Million)

Table 2. Global Automotive Steering System Market, by Passenger Cars – Revenue and Forecast to 2028 (USD Million)

Table 3. Global Automotive Steering System Market, by Commercial Vehicle Types – Revenue and Forecast to 2028 (USD Million)

Table 4. North America: Automotive Steering System Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 5. North America: Automotive Steering System Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 6. North America: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 7. North America: Automotive Steering System Market, by Passenger cars– Revenue and Forecast to 2028 (US$ Million)

Table 8. North America: Automotive Steering System Market, by Commercial Vehicles– Revenue and Forecast to 2028 (US$ Million)

Table 9. US: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 10. US: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 11. US: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 12. US: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 13. US: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 14. Canada: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 15. Canada: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 16. Canada: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 17. Canada: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 18. Canada: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 19. Mexico: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 20. Mexico: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 21. Mexico: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 22. Mexico: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 23. Mexico: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 24. Europe: Automotive Steering System Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 25. Europe: Automotive Steering System Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 26. Europe: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 27. Europe: Automotive Steering System Market, by Passenger Cars – Revenue and Forecast to 2028 (US$ Million)

Table 28. Europe: Automotive Steering System Market, by Commercial Vehicles – Revenue and Forecast to 2028 (US$ Million)

Table 29. Germany: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 30. Germany: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 31. Germany: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 32. Germany: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 33. Germany: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 34. France: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 35. France: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 36. France: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 37. France: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 38. France: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 39. Italy: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 40. Italy: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 41. Italy: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 42. Italy: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 43. Italy: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 44. UK: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 45. UK: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 46. UK: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 47. UK: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 48. UK: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 49. Russia: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 50. Russia: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 51. Russia: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 52. Russia: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 53. Russia: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 54. Rest of Europe: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 55. Rest of Europe: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 56. Rest of Europe: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 57. Rest of Europe: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 58. Rest of Europe: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 59. APAC: Automotive Steering System Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 60. APAC: Automotive Steering System Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 61. APAC: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 62. APAC: Automotive Steering System Market, by Passenger Cars – Revenue and Forecast to 2028 (US$ Million)

Table 63. APAC: Automotive Steering System Market, by Commercial Vehicles – Revenue and Forecast to 2028 (US$ Million)

Table 64. China: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 65. China: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 66. China: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 67. China: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 68. China: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 69. India: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 70. India: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 71. India: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 72. India: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 73. India: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 74. Japan: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 75. Japan: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 76. Japan: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 77. Japan: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 78. Japan: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 79. South Korea: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 80. South Korea: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 81. South Korea: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 82. South Korea: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 83. South Korea: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 84. Rest of APAC: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 85. Rest of APAC: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 86. Rest of APAC: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 87. Rest of APAC: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 88. Rest of APAC: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 89. MEA: Automotive Steering System Market, by Type– Revenue and Forecast to 2028 (US$ Million)

Table 90. MEA: Automotive Steering System Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 91. MEA: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 92. MEA: Automotive Steering System Market, by Passenger Cars – Revenue and Forecast to 2028 (US$ Million)

Table 93. MEA: Automotive Steering System Market, by Commercial Vehicles – Revenue and Forecast to 2028 (US$ Million)

Table 94. South Africa: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 95. South Africa: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 96. South Africa: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 97. South Africa: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 98. South Africa: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 99. Rest of MEA: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 100. Rest of MEA: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 101. Rest of MEA: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 102. Rest of MEA: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 103. Rest of MEA: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 104. SAM: Automotive Steering System Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 105. SAM: Automotive Steering System Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 106. SAM: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 107. SAM: Automotive Steering System Market, by Passenger Cars – Revenue and Forecast to 2028 (US$ Million)

Table 108. SAM: Automotive Steering System Market, by Commercial Vehicles – Revenue and Forecast to 2028 (US$ Million)

Table 109. Brazil: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 110. Brazil: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 111. Brazil: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 112. Brazil: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 113. Brazil: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 114. Argentina: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 115. Argentina: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 116. Argentina: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 117. Argentina: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 118. Argentina: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 119. Rest of SAM: Automotive Steering System Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 120. Rest of SAM: Automotive Steering System Market, by Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 121. Rest of SAM: Automotive Steering System Market, by Vehicle Type –Revenue and Forecast to 2028 (US$ Million)

Table 122. Rest of SAM: Automotive Steering System Market, by Passenger Cars –Revenue and Forecast to 2028 (US$ Million)

Table 123. Rest of SAM: Automotive Steering System Market, by Commercial Vehicles –Revenue and Forecast to 2028 (US$ Million)

Table 124. List of Abbreviation

LIST OF FIGURES

Figure 1. Automotive Steering System Market Segmentation

Figure 2. Automotive Steering System Market Segmentation – By Geography

Figure 3. Global Automotive Steering System Market Overview

Figure 4. Electronic Power Steering Segment Held the Largest Market Share in 2020

Figure 5. Rack Drive Segment Held the Largest Market Share in 2020

Figure 6. Passenger Cars Segment Held the Largest Market Share in 2020

Figure 7. Asia Pacific was the Largest Revenue Contributor in 2020

Figure 8. North America – PEST Analysis

Figure 9. Europe – PEST Analysis

Figure 10. Asia Pacific – PEST Analysis

Figure 11. Middle East and Africa – PEST Analysis

Figure 12. SAM – PEST Analysis

Figure 13. Expert Opinions

Figure 14. Automotive Steering System Market Impact Analysis of Drivers and Restraints

Figure 15. Geographic Overview of Automotive Steering System Market

Figure 16. Global Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 17. Automotive Steering System Market Revenue Breakdown, By Type, 2020 & 2028 (%)

Figure 18. Electronic Power Steering: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)

Figure 19. Hydraulic Power Steering: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)

Figure 20. Electro-Hydraulic Power Steering: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)

Figure 21. Automotive Steering System Market Revenue Breakdown, By Type, 2020 & 2028 (%)

Figure 22. Column Drive: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)

Figure 23. Rack Drive: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)

Figure 24. Automotive Steering System Market Breakdown, By Vehicle Type, 2020 & 2028 (%)

Figure 25. Passenger Cars: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)

Figure 26. Commercial Vehicles: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)

Figure 27. Automotive Steering System Market Revenue Share, By Region (2020 and 2028)

Figure 28. North America: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 29. North America: Automotive Steering System Market Revenue Share, By Type (2020 and 2028)

Figure 30. North America: Automotive Steering System Market Revenue Share, By Product Type (2020 and 2028)

Figure 31. North America: Automotive Steering System Market Revenue Share, By Vehicle Type (2020 and 2028)

Figure 32. North America: Automotive Steering System Market Revenue Share, By Key Country (2020 and 2028)

Figure 33. US: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 34. Canada: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 35. Mexico: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 36. Europe: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 37. Europe: Automotive Steering System Market Revenue Share, By Type (2020 and 2028)

Figure 38. Europe: Automotive Steering System Market Revenue Share, By Product Type (2020 and 2028)

Figure 39. Europe: Automotive Steering System Market Revenue Share, By Vehicle Type (2020 and 2028)

Figure 40. Europe: Automotive Steering System Market Revenue Share, By Key Country (2020 and 2028)

Figure 41. Germany: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 42. France: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 43. Italy: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 44. UK: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 45. Russia: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 46. Rest of Europe: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 47. APAC: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 48. APAC: Automotive Steering System Market Revenue Share, By Type (2020 and 2028)

Figure 49. APAC: Automotive Steering System Market Revenue Share, By Product Type (2020 and 2028)

Figure 50. APAC: Automotive Steering System Market Revenue Share, By Vehicle Type (2020 and 2028)

Figure 51. APAC: Automotive Steering System Market Revenue Share, By Key Country (2020 and 2028)

Figure 52. China: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 53. India: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 54. Japan: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 55. South Korea: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 56. Rest of APAC: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 57. MEA: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 58. MEA: Automotive Steering System Market Revenue Share, By Type (2020 and 2028)

Figure 59. MEA: Automotive Steering System Market Revenue Share, By Product Type (2020 and 2028)

Figure 60. MEA: Automotive Steering System Market Revenue Share, By Vehicle Type (2020 and 2028)

Figure 61. MEA: Automotive Steering System Market Revenue Share, By Key Country (2020 and 2028)

Figure 62. South Africa: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 63. Rest of MEA: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 64. SAM: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 65. SAM: Automotive Steering System Market Revenue Share, By Type (2020 and 2028)

Figure 66. SAM: Automotive Steering System Market Revenue Share, By Product Type (2020 and 2028)

Figure 67. SAM: Automotive Steering System Market Revenue Share, By Vehicle Type (2020 and 2028)

Figure 68. SAM: Automotive Steering System Market Revenue Share, By Key Country (2020 and 2028)

Figure 69. Brazil: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 70. Argentina: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 71. Rest of SAM: Automotive Steering System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 72. Impact of COVID-19 Pandemic in North American Country Markets

Figure 73. Impact of COVID-19 Pandemic in Europe Country Markets

Figure 74. Impact of COVID-19 Pandemic in Asia Pacific Country Markets

Figure 75. Impact of COVID-19 Pandemic in Middle East and Africa Country Markets

Figure 76. Impact of COVID-19 Pandemic in South America Country Markets

The List of Companies - Automotive Steering System 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. HYCET Technology Co. Ltd.
  10. ThyssenKrupp AG

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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