According to Publisher, the Global Automotive Steering Market system is accounted for $26.19 billion in 2015 and is expected to reach $41.8 billion by 2022 growing at a CAGR of 6.90 % from 2015 to 2022. The rising demand for automobile sector is the primary factor favouring the market. Furthermore, increasing demand for vehicles, investment in research & development by market leaders are drivers for the Automotive Steering market system. However, rising fuel prices has led the consumers to go for more fuel efficient vehicles is the major restraint hampering the market growth. Some of the recent trends in Automotive Steering market system are convention rigid steering system and flexible power assisted steering systems.
Electro-hydraulic power steering segment is expected to have more shares due to the combined benefits of both electronic power steering and hydraulic power steering being provided by this segment. Europe accounted for the largest market share in the automotive steering systems followed by North America, Asia Pacific and Rest of the World (RoW).
Some of the key players in the market include Jtekt Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG, NSK Ltd., Nexteer Automotive Group Ltd, Hitachi Ltd., Mando Corp., Thyssenkrupp AG, Showa Corporation, The Sona Group, TRW Automotive Holding, Mitsubishi Electric Corporation, Hyundai Mobis Co. Ltd, China Automotive Systems Inc. and YAZAKI corporation.
For more information http://www.reportsweb.com/automotive-steering-system-global-market-outlook-2015-2022 .
- Manual Steering System
- Hydraulic Power Steering (HPS) System
- Electro-Hydraulic Power Steering (EHPS) System
- Electric Power Steering (EPS) System
Key Components Covered:
- Hydraulic Pump
- Power Steering Column
- Steering Wheel Speed Sensor
- Electric Motor
Safety Features Covered:
- Anti-Lock Braking System (ABS)
- Electronic Stability Control/Program (ESC/ESP)
Electric Power Steering Type Covered:
- Column Assist Electric Power Steering (C-EPS)
- Pinion Assist Electric Power Steering (P-EPS)
- Rack Assist Electric Power Steering (R-EPS)
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- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
- Rest of the World
- Middle East
- South Africa
11 Company Profiling
11.1 Jtekt Corporation
11.2 Robert Bosch GmbH
11.3 ZF Friedrichshafen AG
11.4 NSK Ltd.
11.5 Nexteer Automotive Group Ltd.
11.6 Hitachi Ltd.
11.7 Mando Corp.
11.8 Thyssenkrupp AG
11.9 Showa Corporation
11.10 The Sona Group
11.11 TRW Automotive Holdings
11.12 Mitsubishi Electric Corporation
11.13 Hyundai Mobis Co. Ltd
11.14 China Automotive Systems Inc.
11.15 YAZAKI corporation
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