Market Overview:
The global automotive steering system gears market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X%. The market growth can be attributed to the increasing demand for passenger cars and commercial vehicles across the globe. The hydraulic power steering segment is expected to account for a major share of the global automotive steering system gears market during the forecast period. This can be attributed to its high efficiency and low maintenance requirements. However, electric power steering is anticipated to grow at a higher CAGR over the forecast period as it offers several advantages such as fuel efficiency, easy installation, and low noise levels. In terms of application, the passenger car segment is expected to dominate the global automotive steering system gears market during 2018-2030 owing to rising demand for luxury cars across developed countries such as U.S.
Product Definition:
The automotive steering system gears are the components that transmit power from the engine to the wheels, allowing them to turn. They are typically made of metal alloys, and can be found in a variety of sizes and shapes depending on the make and model of a vehicle. The gears play an important role in ensuring that the wheels move smoothly and efficiently.
Hydraulic Power Steering:
Hydraulic power steering (HPS) has been around for a long time. It was first implemented in heavy equipment such as cranes and earthmoving machinery. However, it is now being used in passenger cars and light commercial vehicles due to its benefits over the manual/electric power steering system.
Electric Power Steering:
Electric power steering (EPS) is a type of hydraulic steering where the steering wheel is powered by an electric motor instead of a conventional engine. The system uses an electrical connection to power the motor, which replaces the need for a heavy and often hot engine-based source of energy. EPS has several benefits over conventional systems; it offers better fuel economy, improved vehicle safety, increased operator comfort and flexibility in terms of driving conditions (light/medium/heavy load).
Application Insights:
The passenger car segment held the largest share of over 70.0% in 2017. The demand for these systems is generally higher in this application as they are installed in cars, trucks, and buses to assist the drivers with better control of the vehicle while driving on roads and highways. Furthermore, increasing government regulations regarding road safety for pedestrians and other vehicles are expected to increase demand further over the forecast period.
Commercial vehicles include trucks, tractors among others; their steering system consists of hydraulic power steering as well as electric power steering components which require high precision during operations to ensure smooth movement along with increased safety margins from potential accidents or incidents caused by driver error or distraction while operating a vehicle on roads or highways. These systems have been designed especially for commercial vehicles so that they can be used throughout without requiring any maintenance or service appointments at regular intervals like oil changes etc.; thereby offering an extended period of warranty by manufacturers against defects & failures due to normal wear & tear etc.
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 automobiles and rising disposable income of consumers. China, Japan, South Korea, India and Australia 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 regulations regarding fuel economy as well as carbon emissions from vehicles operating under any kind of driving condition or scenario. In addition, growing adoption rate for advanced automotive technologies such as automated parking systems will also drive product demand across this region during the same period.
Growth Factors:
- Increasing demand for passenger cars and commercial vehicles
- Rising disposable income of consumers in developing countries
- Technological advancements in steering system gears that improve fuel efficiency and performance
- Stringent government regulations on emissions and safety standards for automobiles
- Growing popularity of luxury cars and SUVs
Scope Of The Report
Report Attributes
Report Details
Report Title
Automotive Steering System Gears Market Research Report
By Type
Hydraulic Power Steering, Electric Power Steering, Others
By Application
Passenger Car, Commercial Vehicle
By Companies
Bosch, Denso, Motorcraft, Cardone, TRW, Power Steering, Inc., ZF, Cloyes, ACDelco, HLSmith, Bosch, Chaoyang, Guangyang, Xianhe, Diamond
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
196
Number of Tables & Figures
138
Customization Available
Yes, the report can be customized as per your need.
Global Automotive Steering System Gears Market Report Segments:
The global Automotive Steering System Gears market is segmented on the basis of:
Types
Hydraulic Power Steering, Electric Power Steering, Others
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 Car, Commercial Vehicle
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
- Motorcraft
- Cardone
- TRW
- Power Steering, Inc.
- ZF
- Cloyes
- ACDelco
- HLSmith
- Bosch
- Chaoyang
- Guangyang
- Xianhe
- Diamond
Highlights of The Automotive Steering System Gears 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:
- Hydraulic Power Steering
- Electric Power Steering
- Others
- By Application:
- Passenger Car
- Commercial Vehicle
- 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 System Gears 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
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- Consumer Insights
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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?
The automotive steering system gears are the mechanisms that allow the car to turn. The gears are attached to the steering column and rotate as the driver turns the wheel.
Some of the key players operating in the automotive steering system gears market are Bosch, Denso, Motorcraft, Cardone, TRW, Power Steering, Inc., ZF, Cloyes, ACDelco, HLSmith, Bosch, Chaoyang, Guangyang, Xianhe, Diamond.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Automotive Steering System Gears 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 System Gears Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Automotive Steering System Gears 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 System Gears 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 System Gears Market Size & Forecast, 2018-2028
4.5.1 Automotive Steering System Gears Market Size and Y-o-Y Growth
4.5.2 Automotive Steering System Gears Market Absolute $ Opportunity
Chapter 5 Global Automotive Steering System Gears 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 Automotive Steering System Gears Market Size Forecast by Type
5.2.1 Hydraulic Power Steering
5.2.2 Electric Power Steering
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Automotive Steering System Gears 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 Automotive Steering System Gears Market Size Forecast by Applications
6.2.1 Passenger Car
6.2.2 Commercial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Automotive Steering System Gears 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 System Gears 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 Automotive Steering System Gears Analysis and Forecast
9.1 Introduction
9.2 North America Automotive Steering System Gears 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 Automotive Steering System Gears Market Size Forecast by Type
9.6.1 Hydraulic Power Steering
9.6.2 Electric Power Steering
9.6.3 Others
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 Automotive Steering System Gears Market Size Forecast by Applications
9.10.1 Passenger Car
9.10.2 Commercial Vehicle
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 Automotive Steering System Gears Analysis and Forecast
10.1 Introduction
10.2 Europe Automotive Steering System Gears 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 Automotive Steering System Gears Market Size Forecast by Type
10.6.1 Hydraulic Power Steering
10.6.2 Electric Power Steering
10.6.3 Others
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 Automotive Steering System Gears Market Size Forecast by Applications
10.10.1 Passenger Car
10.10.2 Commercial Vehicle
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 Automotive Steering System Gears Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Automotive Steering System Gears 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 Automotive Steering System Gears Market Size Forecast by Type
11.6.1 Hydraulic Power Steering
11.6.2 Electric Power Steering
11.6.3 Others
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 Automotive Steering System Gears Market Size Forecast by Applications
11.10.1 Passenger Car
11.10.2 Commercial Vehicle
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 Automotive Steering System Gears Analysis and Forecast
12.1 Introduction
12.2 Latin America Automotive Steering System Gears 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 Automotive Steering System Gears Market Size Forecast by Type
12.6.1 Hydraulic Power Steering
12.6.2 Electric Power Steering
12.6.3 Others
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 Automotive Steering System Gears Market Size Forecast by Applications
12.10.1 Passenger Car
12.10.2 Commercial Vehicle
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) Automotive Steering System Gears Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Automotive Steering System Gears 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) Automotive Steering System Gears Market Size Forecast by Type
13.6.1 Hydraulic Power Steering
13.6.2 Electric Power Steering
13.6.3 Others
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) Automotive Steering System Gears Market Size Forecast by Applications
13.10.1 Passenger Car
13.10.2 Commercial Vehicle
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 System Gears Market: Competitive Dashboard
14.2 Global Automotive Steering System Gears 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 Motorcraft
14.3.4 Cardone
14.3.5 TRW
14.3.6 Power Steering, Inc.
14.3.7 ZF
14.3.8 Cloyes
14.3.9 ACDelco
14.3.10 HLSmith
14.3.11 Bosch
14.3.12 Chaoyang
14.3.13 Guangyang
14.3.14 Xianhe
14.3.15 Diamond
