Market Overview:
The global passenger vehicle 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 luxury and premium cars, rising disposable income of consumers, and technological advancements in hydraulic steering systems. On the basis of type, the global passenger vehicle hydraulic steering system market has been segmented into pure hydraulic steering system and electro-hydraulic steering system. The pure hydraulic steering system segment is expected to account for a major share of the global passenger vehicle hydraulic steering system market during the forecast period. This can be attributed to its low cost as compared to electro-hydraulic systems and easy installation process. However, with increasing demand for fuel-efficient vehicles, electro-hydraulic systems are expected to gain traction during the forecast period.
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. This type of system is found primarily in passenger vehicles, as they are typically heavier and require more assistance in turning than smaller vehicles.
Pure Hydraulic Steering System:
Pure hydraulic steering systems are used in passenger vehicles to assist the driver with manual steering. They are known to provide better comfort, safety and convenience compared to a mechanical system. The pure hydraulic steerings have more fluid movement which results in less effort for the driver, thus increasing driving comfort.
Electro-Hydraulic Steering System:
The electro-hydraulic steering system is a hybrid power steering system which uses the combination of hydraulic assist and electric power steering. It’s an advanced technology that helps in improving driver assistance, comfort and safety features in vehicles. The increasing demand for Electric Power Steering (EPS) systems is expected to drive the global market growth over the forecast period.
Application Insights:
Based on the application, the market is segmented into a sedan and a hatchback. The SUV segment accounted for over 30% of the overall revenue share in 2017. The growing demand for passenger cars with four-wheel drive (4WD) capability is expected to be one of the major factors driving this growth during the forecast period.
The other application category includes buses, light trucks and mini trucks, and sports utility vehicles (SUVs). Sedans are generally preferred by consumers as they offer more legroom than other car segments such as SUVs or minivans do. Hatchbacks are increasingly being used as family cars owing to their ability to seat at least five passengers comfortably along with an adult driver. This trend is expected to continue over the forecast period thus propelling market growth across all regions during that time frame.
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 rapid urbanization, which has resulted in an increasing demand for passenger cars. Furthermore, emerging economies such as India and China are experiencing strong economic growth, which is further anticipated to drive automobile sales over the next eight years.
The North American regional market held a significant share of around 25% in 2017 owing to growing consumer preference towards advanced automotive technologies coupled with stringent safety norms implemented by regulatory bodies like NHTSA (National Highway Traffic Safety Administration) and IIHS (Insurance Institute for Highway Safety). Europe also accounted for a considerable revenue share of more than 20% due to rising adoption of these systems on account of favorable government regulations pertaining toward enhanced safety standards associated with driverless vehicles. Additionally, presence of major players manufacturing steer components such as steering gearboxes/cables will augment industry growth over the coming years.
Growth Factors:
- Increasing demand for passenger vehicles
- Growing automotive industry
- Rising disposable income of consumers
- Technological advancements in hydraulic steering systems
- Growing awareness about safety features in passenger vehicles
Scope Of The Report
Report Attributes
Report Details
Report Title
Passenger Vehicle Hydraulic Steering System Market Research Report
By Type
Pure Hydraulic Steering System, Electro-Hydraulic Steering System
By Application
Sedan & Hatchback, SUV, Other
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
212
Number of Tables & Figures
149
Customization Available
Yes, the report can be customized as per your need.
Global Passenger Vehicle Hydraulic Steering System Market Report Segments:
The global Passenger Vehicle 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
Sedan & Hatchback, SUV, Other
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 Passenger Vehicle 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:
- Sedan & Hatchback
- SUV
- Other
- 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 Passenger Vehicle 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:
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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 Passenger Vehicle Hydraulic Steering System (PVHS) is a hydraulic system used to steer a vehicle. It uses fluid pressure to move the steering wheel and axle.
Some of the key players operating in the passenger vehicle 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 Passenger Vehicle 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 Passenger Vehicle Hydraulic Steering System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Passenger Vehicle 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 Passenger Vehicle 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 Passenger Vehicle Hydraulic Steering System Market Size & Forecast, 2018-2028
4.5.1 Passenger Vehicle Hydraulic Steering System Market Size and Y-o-Y Growth
4.5.2 Passenger Vehicle Hydraulic Steering System Market Absolute $ Opportunity
Chapter 5 Global Passenger Vehicle 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 Passenger Vehicle Hydraulic Steering System 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 Passenger Vehicle 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 Passenger Vehicle Hydraulic Steering System Market Size Forecast by Applications
6.2.1 Sedan & Hatchback
6.2.2 SUV
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Passenger Vehicle 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 Passenger Vehicle 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 Passenger Vehicle Hydraulic Steering System Analysis and Forecast
9.1 Introduction
9.2 North America Passenger Vehicle 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 Passenger Vehicle Hydraulic Steering System 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 Passenger Vehicle Hydraulic Steering System Market Size Forecast by Applications
9.10.1 Sedan & Hatchback
9.10.2 SUV
9.10.3 Other
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 Passenger Vehicle Hydraulic Steering System Analysis and Forecast
10.1 Introduction
10.2 Europe Passenger Vehicle 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 Passenger Vehicle Hydraulic Steering System 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 Passenger Vehicle Hydraulic Steering System Market Size Forecast by Applications
10.10.1 Sedan & Hatchback
10.10.2 SUV
10.10.3 Other
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 Passenger Vehicle Hydraulic Steering System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Passenger Vehicle 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 Passenger Vehicle Hydraulic Steering System 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 Passenger Vehicle Hydraulic Steering System Market Size Forecast by Applications
11.10.1 Sedan & Hatchback
11.10.2 SUV
11.10.3 Other
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 Passenger Vehicle Hydraulic Steering System Analysis and Forecast
12.1 Introduction
12.2 Latin America Passenger Vehicle 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 Passenger Vehicle Hydraulic Steering System 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 Passenger Vehicle Hydraulic Steering System Market Size Forecast by Applications
12.10.1 Sedan & Hatchback
12.10.2 SUV
12.10.3 Other
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) Passenger Vehicle Hydraulic Steering System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Passenger Vehicle 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) Passenger Vehicle Hydraulic Steering System 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) Passenger Vehicle Hydraulic Steering System Market Size Forecast by Applications
13.10.1 Sedan & Hatchback
13.10.2 SUV
13.10.3 Other
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 Passenger Vehicle Hydraulic Steering System Market: Competitive Dashboard
14.2 Global Passenger Vehicle 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
