Market Overview:
The global car hydraulic steering system 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 growth of the market can be attributed to the increasing demand for passenger vehicles and commercial vehicles across the globe. The global car hydraulic steering system market has been segmented on the basis of type, application and region. On the basis of type, it has been classified into pure hydraulic steering system and electro-hydraulic steering system. The pure hydraulic steering system segment is expected to account for a major share in terms of revenue in 2018 owing to its low cost as compared to electro-hydraulic systems. However, with technological advancements being made in this field, electro-hydraulic systems are expected witness high growth during the forecast period. On the basis of application, it has been divided into passenger vehicle and commercial vehicle segments. Passenger vehicles are anticipated witness higher demand as compared to commercial vehicles due to increase in disposable income levels across developing countries such as India and China . Regionally speaking, North America is anticipated hold a dominant position during 2018 – 2030 followed by Europe .
Product Definition:
A hydraulic steering system is a type of power steering that uses pressurized hydraulic fluid to assist in turning the vehicle's wheels. The fluid is supplied by a pump driven by the engine.
Pure Hydraulic Steering System:
Pure hydraulic steering systems are used in cars, trucks and buses that do not have power steering. The pure hydraulic steering system has no electrical assistance and is directly connected to the gearbox of the vehicle. This type of steeringsystem is cheaper than its electric counterpart as there are no additional costs for pumps, hoses or tubing associated with it.
Electro-Hydraulic Steering System:
The electro-hydraulic steering system is a hybrid power steering system which incorporates hydraulic assist to the electric power steering. It’s an advanced technology that helps in improving driver assistance and comfort, without compromising on safety or control. The combination of manual and automatic systems into one unit has improved the driving experience for both drivers as well as passengers.
It uses two differentials to provide steer assist, one goes towards front wheel.
Application Insights:
Passenger vehicle application dominated the global market in 2017, accounting for over 60.0% share of the overall revenue. The segment is expected to witness significant growth on account of increasing demand for passenger vehicles with features such as comfort, convenience and safety among other things. Moreover, technological advancements coupled with rising consumer preference are anticipated to further boost industry growth over the forecast period.
Commercial vehicle application is projected to expand at a CAGR of XX% from 2018 to 2030 owing to growing industrialization and urbanization along with an increase in commercial transportation services such as logistics and dry-van service across various regions globally including North America and Europe which eventually boosts product demand worldwide.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing increasing demand for advanced driver assistance systems (ADAS) coupled with hydraulic steering system. This trend is projected to continue over the next eight years, thereby driving the overall market growth in this region.
The growing automotive industry in China and India on account of low manufacturing cost coupled with easy availability of cheap labor is anticipated to be a major factor driving regional growth. Furthermore, rising disposable income levels are likely to contribute significantly toward increased sales volume as well as higher sales value of passenger vehicles across these countries during the forecast period.
Europe accounted for more than 25% share of global revenue in 2017 owing to high demand from premium segment passenger cars and commercial vehicles including heavy trucks such as buses, fire engines, tractors etc., Moreover, presence of key manufacturers such as ZF Friedrichshafen AG & Co., Aisin Seiki Co Ltd.
Growth Factors:
- Increasing demand for luxury and comfort cars
- Growing automotive industry in developing countries
- Rising disposable income of consumers in these regions
- Technological advancements in hydraulic steering systems
- Government initiatives to promote the use of fuel-efficient and environment-friendly vehicles
Scope Of The Report
Report Attributes
Report Details
Report Title
Car Hydraulic Steering System Market Research Report
By Type
Pure Hydraulic Steering System, Electro-Hydraulic Steering System
By Application
Passenger Vehicle, Commercial Vehicle
By Companies
JTEKT, Bosch, Nexteer, ZF, Showa, Thyssenkrupp
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
193
Number of Tables & Figures
136
Customization Available
Yes, the report can be customized as per your need.
Global Car Hydraulic Steering System Market Report Segments:
The global Car Hydraulic Steering System market is segmented on the basis of:
Types
Pure Hydraulic Steering System, Electro-Hydraulic Steering System
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 Vehicle, 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:
- JTEKT
- Bosch
- Nexteer
- ZF
- Showa
- Thyssenkrupp
Highlights of The Car Hydraulic Steering System 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:
- Pure Hydraulic Steering System
- Electro-Hydraulic Steering System
- By Application:
- Passenger Vehicle
- 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 Car Hydraulic Steering System 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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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?
A car hydraulic steering system is a type of steering system that uses hydraulic pressure to turn the wheels. This system is often found on cars and trucks.
Some of the major companies in the car hydraulic steering system market are JTEKT, Bosch, Nexteer, ZF, Showa, Thyssenkrupp.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Car Hydraulic Steering System 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 Car Hydraulic Steering System Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Car Hydraulic Steering System 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 Car Hydraulic Steering System 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 Car Hydraulic Steering System Market Size & Forecast, 2020-2028 4.5.1 Car Hydraulic Steering System Market Size and Y-o-Y Growth 4.5.2 Car Hydraulic Steering System 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 Pure Hydraulic Steering System
5.2.2 Electro-Hydraulic Steering System
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 Vehicle
6.2.2 Commercial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Car Hydraulic Steering System 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 Car Hydraulic Steering System 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 Pure Hydraulic Steering System
9.6.2 Electro-Hydraulic Steering System
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 Vehicle
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 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 Pure Hydraulic Steering System
10.6.2 Electro-Hydraulic Steering System
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 Vehicle
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 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 Pure Hydraulic Steering System
11.6.2 Electro-Hydraulic Steering System
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 Vehicle
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 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 Pure Hydraulic Steering System
12.6.2 Electro-Hydraulic Steering System
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 Vehicle
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) 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 Pure Hydraulic Steering System
13.6.2 Electro-Hydraulic Steering System
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 Vehicle
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 Car Hydraulic Steering System Market: Competitive Dashboard
14.2 Global Car Hydraulic Steering System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 JTEKT
14.3.2 Bosch
14.3.3 Nexteer
14.3.4 ZF
14.3.5 Showa
14.3.6 Thyssenkrupp