Market Overview:
The global 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% during the forecast period. The growth of the hydraulic steering system market can be attributed to the increasing demand for passenger vehicles, light commercial vehicles, and heavy commercial vehicles across the globe. Additionally, factors such as rising disposable income and technological advancements are expected to fuel the growth of this market in the coming years. On basis of type,the global hydraulic steering systemmarket has been segmented into hydraulich helm pump,hydraulic cylinder,,rigid or flexible hoses,,and others.
Product Definition:
A hydraulic steering system is a system that uses fluid under pressure to transmit power from the steering wheel to the wheels of a vehicle, in order to steer it. The importance of a hydraulic steering system is that it provides power and control for the driver, making it easier to steer the car.
Hydraulic Helm Pump:
The hydraulic helm pump is used to transfer fluid from the hydraulic steering system to the steering wheel. It helps in maintaining a constant pressure between the steerings and wheels of vehicle which ensures safety while driving. The market for hydraulic helm pumps is expected to witness significant growth over the forecast period owing to increasing demand for vehicles with manual or electric power steering systems.
Hydraulic Cylinder:
A hydraulic cylinder is a closed vessel, which stores pressurized fluid. It is used in various types of steering systems to transmit the turning force from the steering wheel to the steered vehicle. The most common type of hydraulic cylinders are air-cooled and water-cooled.
Application Insights:
Passenger vehicle application segment accounted for the largest market share in 2017 and is projected to expand at a CAGR of XX% over the forecast period. Rising demand for passenger vehicles, especially in developing countries such as China and India, owing to increasing disposable income levels has been a major factor driving the industry growth. Moreover, stringent government regulations regarding road safety are expected to further boost product demand over the coming years.
The light commercial vehicle (LCV) segment held a significant market share in 2017 due to increased utilization of LCVs on account of their ability to transport goods with lesser crew members required compared with heavy commercial vehicles (HCVs). In addition, these lightweight trucks have smaller turning radii making them ideal for tight turns or maneuvering on narrow roadsides or highways which is likely to propel their usage rate over the coming years.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The presence of key automotive manufacturers, coupled with increasing demand for commercial vehicles in China, India, and South Korea among other countries is anticipated to drive the regional market. Moreover, rising disposable income levels are likely to contribute towards increased sales of passenger cars and light commercial vehicles in this region.
The North America regional market accounted for a share of more than 15% owing to high product adoption by various industries including construction industry due to its superior performance as compared to other steering systems. Furthermore, growing emphasis on energy-efficient technologies that reduce operational costs will augment hydraulic steer system demand over the projected period.
Growth Factors:
- Increasing demand for hydraulic steering systems in the commercial vehicle segment
- Growing popularity of electric and hybrid vehicles
- Rising demand for advanced steering systems in luxury cars
- Proliferation of autonomous and semi-autonomous vehicles
- Increasing adoption of hydraulic steering systems in off-highway applications
Scope Of The Report
Report Attributes
Report Details
Report Title
Hydraulic Steering System Market Research Report
By Type
Hydraulic Helm Pump, Hydraulic Cylinder, Rigid or Flexible Hoses, Others
By Application
Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
By Companies
ZF Friedrichshafen, GKN, Nexteer Automotive, ThyssenKrupp, ZF Friedrichshafen
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
214
Number of Tables & Figures
150
Customization Available
Yes, the report can be customized as per your need.
Global Hydraulic Steering System Market Report Segments:
The global Hydraulic Steering System market is segmented on the basis of:
Types
Hydraulic Helm Pump, Hydraulic Cylinder, Rigid or Flexible Hoses, 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 Vehicle, Light Commercial Vehicle, Heavy 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:
- ZF Friedrichshafen
- GKN
- Nexteer Automotive
- ThyssenKrupp
- ZF Friedrichshafen
Highlights of The 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:
- Hydraulic Helm Pump
- Hydraulic Cylinder
- Rigid or Flexible Hoses
- Others
- By Application:
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy 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 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
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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 hydraulic steering system uses pressurized fluid to move the steering wheel. This system is often found in heavy vehicles, such as trucks and buses.
Some of the key players operating in the hydraulic steering system market are ZF Friedrichshafen, GKN, Nexteer Automotive, ThyssenKrupp, ZF Friedrichshafen.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 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 Hydraulic Steering System Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 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 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 Hydraulic Steering System Market Size & Forecast, 2018-2028 4.5.1 Hydraulic Steering System Market Size and Y-o-Y Growth 4.5.2 Hydraulic Steering System Market Absolute $ Opportunity
Chapter 5 Global Hydraulic Steering System 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 Hydraulic Steering System Market Size Forecast by Type
5.2.1 Hydraulic Helm Pump
5.2.2 Hydraulic Cylinder
5.2.3 Rigid or Flexible Hoses
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Hydraulic Steering System 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 Hydraulic Steering System Market Size Forecast by Applications
6.2.1 Passenger Vehicle
6.2.2 Light Commercial Vehicle
6.2.3 Heavy Commercial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global 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 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 Hydraulic Steering System Analysis and Forecast
9.1 Introduction
9.2 North America Hydraulic Steering System 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 Hydraulic Steering System Market Size Forecast by Type
9.6.1 Hydraulic Helm Pump
9.6.2 Hydraulic Cylinder
9.6.3 Rigid or Flexible Hoses
9.6.4 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 Hydraulic Steering System Market Size Forecast by Applications
9.10.1 Passenger Vehicle
9.10.2 Light Commercial Vehicle
9.10.3 Heavy 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 Hydraulic Steering System Analysis and Forecast
10.1 Introduction
10.2 Europe Hydraulic Steering System 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 Hydraulic Steering System Market Size Forecast by Type
10.6.1 Hydraulic Helm Pump
10.6.2 Hydraulic Cylinder
10.6.3 Rigid or Flexible Hoses
10.6.4 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 Hydraulic Steering System Market Size Forecast by Applications
10.10.1 Passenger Vehicle
10.10.2 Light Commercial Vehicle
10.10.3 Heavy 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 Hydraulic Steering System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Hydraulic Steering System 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 Hydraulic Steering System Market Size Forecast by Type
11.6.1 Hydraulic Helm Pump
11.6.2 Hydraulic Cylinder
11.6.3 Rigid or Flexible Hoses
11.6.4 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 Hydraulic Steering System Market Size Forecast by Applications
11.10.1 Passenger Vehicle
11.10.2 Light Commercial Vehicle
11.10.3 Heavy 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 Hydraulic Steering System Analysis and Forecast
12.1 Introduction
12.2 Latin America Hydraulic Steering System 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 Hydraulic Steering System Market Size Forecast by Type
12.6.1 Hydraulic Helm Pump
12.6.2 Hydraulic Cylinder
12.6.3 Rigid or Flexible Hoses
12.6.4 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 Hydraulic Steering System Market Size Forecast by Applications
12.10.1 Passenger Vehicle
12.10.2 Light Commercial Vehicle
12.10.3 Heavy 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) Hydraulic Steering System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Hydraulic Steering System 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) Hydraulic Steering System Market Size Forecast by Type
13.6.1 Hydraulic Helm Pump
13.6.2 Hydraulic Cylinder
13.6.3 Rigid or Flexible Hoses
13.6.4 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) Hydraulic Steering System Market Size Forecast by Applications
13.10.1 Passenger Vehicle
13.10.2 Light Commercial Vehicle
13.10.3 Heavy 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 Hydraulic Steering System Market: Competitive Dashboard
14.2 Global Hydraulic Steering System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ZF Friedrichshafen
14.3.2 GKN
14.3.3 Nexteer Automotive
14.3.4 ThyssenKrupp
14.3.5 ZF Friedrichshafen