Market Overview:
The global automotive steering motors market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for electric power steering (EPS) and electro-hydraulic power steering (EHPS) systems in passenger cars and commercial vehicles. North America is expected to lead the global automotive steering motors market during the forecast period, followed by Europe and Asia Pacific. The growth in these regions can be attributed to factors such as rising disposable income, growing population, and increasing demand for luxury cars.
Product Definition:
An automotive steering motor is a device that powers the turning of a car's wheels. It is an essential part of the car's steering system, allowing the driver to control the direction in which the car moves.
Electric Power Steering (EPS):
Electric power steering (EPS) is a type of assistance system used in manual steering systems. It works by using an electric motor to provide assistance to the driver, making it easier to steer the vehicle. The EPS system consists of an electric pump that is attached between the steering wheel and the column, which helps move fluid within the column cavity and thereby provides assistive leverage for better control and stability while driving at low speeds or when maneuvering sharp turns.
Electro-Hydraulic Power Steering (EHPS):
Electro-hydraulic power steering (EHPS) is a hybrid system that combines the best of both hydraulic and electric power steering. It uses electrical energy generated by an engine for moving the hydraulic fluid through the system. The major advantage of this hybrid technology is that it eliminates cables from all connections, thus making it free of any hazards or entanglements.
The global automotive steering motors market was valued at USD 3,37 billion in 2016.
Application Insights:
Passenger cars accounted for a major market share in 2017 and are expected to continue leading over the forecast period. The rising purchasing power of consumers in developed economies such as U.S., Canada, Germany and France is positively influencing the demand for passenger cars across the globe. Moreover, increasing sales of high-performance vehicles with enhanced features are also boosting segment growth worldwide.
The commercial vehicle segment is estimated to expand at a CAGR of XX% from 2018 to 2030 owing to growing investments by governments in developing countries such as China, India and Brazil on infrastructure development along with emphasis on promoting tourism activities at global level which will further boost product demand globally over the forecast period. Increasing use of electric power steering among commercial vehicles due to its eco-friendly nature is also expected fuel segment growth globally over the next eight years or so.
Regional Analysis:
Asia Pacific dominated the global market in terms of revenue in 2017. The region is expected to continue its dominance over the forecast period owing to increasing demand for passenger cars and rising disposable income of consumers. China, Japan, South Korea, India and Taiwan are some of the major markets that contributed significantly towards regional growth.
The European market was valued at USD X million in 2017 and is anticipated to witness steady growth over the forecast period owing to stringent government regulations regarding fuel economy as well as carbon emissions from vehicles. Moreover, technological advancements such as adaptive cruise control systems coupled with favorable government initiatives such as “Bâ€s law†(battery electric vehicle by 2025) are likely to boost regional product demand over the coming years.
Growth Factors:
- Increasing demand for electric and hybrid vehicles
- Rising demand for luxury cars
- Growing automotive sector in developing countries
- Technological advancements in steering motors
- Stringent government regulations on fuel emissions
Scope Of The Report
Report Attributes
Report Details
Report Title
Automotive Steering Motors Market Research Report
By Type
Electric Power Steering (EPS), Electro-Hydraulic Power Steering (EHPS)
By Application
Passenger Cars, Commercial Vehicles
By Companies
Bosch, DENSO, Johnson Electric, Brose Fahrzeugteile, Mahle, SKF, Nidec, Mitsuba Corporation, Minebea, Broad Ocean, Bosch
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
163
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.
Global Automotive Steering Motors Market Report Segments:
The global Automotive Steering Motors market is segmented on the basis of:
Types
Electric Power Steering (EPS), Electro-Hydraulic Power Steering (EHPS)
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Cars, Commercial Vehicles
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Bosch
- DENSO
- Johnson Electric
- Brose Fahrzeugteile
- Mahle
- SKF
- Nidec
- Mitsuba Corporation
- Minebea
- Broad Ocean
- Bosch
Highlights of The Automotive Steering Motors Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Electric Power Steering (EPS)
- Electro-Hydraulic Power Steering (EHPS)
- By Application:
- Passenger Cars
- Commercial Vehicles
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Automotive Steering Motors Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Automotive steering motors are used in cars and trucks to provide power for the steering system. They work by turning a shaft that connects the wheel to the car's chassis. The motor helps turn the wheel, which then moves the car forward or backward.
Some of the key players operating in the automotive steering motors market are Bosch, DENSO, Johnson Electric, Brose Fahrzeugteile, Mahle, SKF, Nidec, Mitsuba Corporation, Minebea, Broad Ocean, Bosch.
The automotive steering motors market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Automotive Steering Motors Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Automotive Steering Motors Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Automotive Steering Motors Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Automotive Steering Motors Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Automotive Steering Motors Market Size & Forecast, 2020-2028
4.5.1 Automotive Steering Motors Market Size and Y-o-Y Growth
4.5.2 Automotive Steering Motors Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Electric Power Steering (EPS)
5.2.2 Electro-Hydraulic Power Steering (EHPS)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Passenger Cars
6.2.2 Commercial Vehicles
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Automotive Steering Motors Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Automotive Steering Motors Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Electric Power Steering (EPS)
9.6.2 Electro-Hydraulic Power Steering (EHPS)
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Passenger Cars
9.10.2 Commercial Vehicles
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Electric Power Steering (EPS)
10.6.2 Electro-Hydraulic Power Steering (EHPS)
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Passenger Cars
10.10.2 Commercial Vehicles
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Electric Power Steering (EPS)
11.6.2 Electro-Hydraulic Power Steering (EHPS)
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Passenger Cars
11.10.2 Commercial Vehicles
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Electric Power Steering (EPS)
12.6.2 Electro-Hydraulic Power Steering (EHPS)
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Passenger Cars
12.10.2 Commercial Vehicles
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Electric Power Steering (EPS)
13.6.2 Electro-Hydraulic Power Steering (EHPS)
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Passenger Cars
13.10.2 Commercial Vehicles
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Automotive Steering Motors Market: Competitive Dashboard
14.2 Global Automotive Steering Motors Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bosch
14.3.2 DENSO
14.3.3 Johnson Electric
14.3.4 Brose Fahrzeugteile
14.3.5 Mahle
14.3.6 SKF
14.3.7 Nidec
14.3.8 Mitsuba Corporation
14.3.9 Minebea
14.3.10 Broad Ocean
14.3.11 Bosch
