Market Overview:
The global rack and pinion 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 rack and pinion systems from various applications such as steering, stairlifts, rack railways, actuators, drills, among others. Additionally, the growing automotive industry is also expected to fuel the growth of this market in the coming years.
Product Definition:
A rack and pinion is a type of linear actuator that comprises a pair of gears which convert rotational motion into linear motion.
Alloy Steel:
Alloy steel is a material that consists of two or more metals, which are combined to form an alloy. The product is used in the manufacturing of gear wheels and pinions, as it offers high strength and durability along with improved efficiency. It also has better resistance to abrasion and corrosion than carbon steel.
Carbon Steel:
Carbon steel is a type of steel that contains carbon in the alloy. The carbon content in the steel can be varied from low (under 0.2%) to high (over 2%). The higher the carbon content, generally, the stronger and more durable is it going to be. Carbon steels are used for producing gears because they have good surface hardness and offer strong resistance against rusting and corrosion due to its hardenness.
Application Insights:
The steering application segment accounted for the largest revenue share in 2016 and is projected to continue its dominance over the forecast period. The growth of this application can be attributed to increasing demand for vehicles with electronic engine management systems that require a high level of precision in vehicle trajectory. In addition, rising demand for heavy-duty vehicles with higher payload capacity is expected to drive the product demand over the forecast period.
Rising awareness regarding health and safety among consumers, coupled with stringent government regulations on worker safety, has resulted in an increased focus on industrial applications as stairlifts and other actuators are involved in several accidents every year leading to injuries or fatalities. This trend will have a positive impact on market growth over the coming years as these machines help reduce workplace injuries by providing safe access across floors or up/down stairs at a reasonable cost.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to rising demand from countries such as China, India, Japan, and South Korea. These countries are focusing on developing their infrastructure sector which includes building new roads and railways. This is boosting the demand for actuators, rack railways equipment among others in various applications across industries such as manufacturing & automation, construction & infrastructural development.
The growing industrialization coupled with increasing investments in developing nations of Asia Pacific region will drive industry expansion over the coming years.
Growth Factors:
- Increasing demand for automobiles: The growth of the automotive industry is a key driver for the rack and pinion market. The increasing demand for passenger cars and commercial vehicles is expected to boost the market growth during the forecast period.
- Growing urbanization: Rapid urbanization has led to an increase in the number of vehicles on roads, which in turn is fueling the demand for rack and pinion systems. Additionally, growing infrastructure development activities are also contributing to market growth.
- Technological advancements: Continuous technological advancements are resulting in new product launches that offer better performance as well as fuel efficiency, thereby propelling market growth. For instance, Bosch introduced its electric power steering system – EPS 805 – in 2016, which offers improved fuel economy by up to 3%. This system helps reduce CO2 emissions by up to 2 g/km when compared with traditional hydraulic power steering systems used in vehicles today . 4) Rising disposable income: A rise in disposable income enables consumers to invest more money on luxury items such as cars equipped with advanced features such as rack and pinion systems that offer superior performance and handling characteristics over traditional manual steering systems 5) Stringent government regulations mandating use of energy-efficient technologies: Stringent government regulations mandating use of energy-efficient technologies are providing a thrust to the adoption of rack and pinion systems across various applications
Scope Of The Report
Report Attributes
Report Details
Report Title
Rack and Pinion Market Research Report
By Type
Alloy Steel, Carbon Steel, Plastic
By Application
Steering, Stairlifts, Rack Railways, Actuators, Drills
By Companies
Emerson Electric, Pentair, Rotork Controls, Ultimate Power Steering, Sirca, SMC Pneumatics, Emerson Electric
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
184
Number of Tables & Figures
129
Customization Available
Yes, the report can be customized as per your need.
Global Rack and Pinion Market Report Segments:
The global Rack and Pinion market is segmented on the basis of:
Types
Alloy Steel, Carbon Steel, Plastic
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
Steering, Stairlifts, Rack Railways, Actuators, Drills
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:
- Emerson Electric
- Pentair
- Rotork Controls
- Ultimate Power Steering
- Sirca
- SMC Pneumatics
- Emerson Electric
Highlights of The Rack and Pinion 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:
- Alloy Steel
- Carbon Steel
- Plastic
- By Application:
- Steering
- Stairlifts
- Rack Railways
- Actuators
- Drills
- 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 Rack and Pinion 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.
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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?
Rack and pinion is a type of steering system that uses a rack to convert rotary motion into linear motion and a pinion to provide directional control.
Some of the key players operating in the rack and pinion market are Emerson Electric, Pentair, Rotork Controls, Ultimate Power Steering, Sirca, SMC Pneumatics, Emerson Electric.
The rack and pinion market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Rack and Pinion 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 Rack and Pinion Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Rack and Pinion 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 Rack and Pinion 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 Rack and Pinion Market Size & Forecast, 2020-2028 4.5.1 Rack and Pinion Market Size and Y-o-Y Growth 4.5.2 Rack and Pinion 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 Alloy Steel
5.2.2 Carbon Steel
5.2.3 Plastic
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 Steering
6.2.2 Stairlifts
6.2.3 Rack Railways
6.2.4 Actuators
6.2.5 Drills
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Rack and Pinion 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 Rack and Pinion 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 Alloy Steel
9.6.2 Carbon Steel
9.6.3 Plastic
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 Steering
9.10.2 Stairlifts
9.10.3 Rack Railways
9.10.4 Actuators
9.10.5 Drills
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 Alloy Steel
10.6.2 Carbon Steel
10.6.3 Plastic
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 Steering
10.10.2 Stairlifts
10.10.3 Rack Railways
10.10.4 Actuators
10.10.5 Drills
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 Alloy Steel
11.6.2 Carbon Steel
11.6.3 Plastic
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 Steering
11.10.2 Stairlifts
11.10.3 Rack Railways
11.10.4 Actuators
11.10.5 Drills
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 Alloy Steel
12.6.2 Carbon Steel
12.6.3 Plastic
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 Steering
12.10.2 Stairlifts
12.10.3 Rack Railways
12.10.4 Actuators
12.10.5 Drills
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 Alloy Steel
13.6.2 Carbon Steel
13.6.3 Plastic
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 Steering
13.10.2 Stairlifts
13.10.3 Rack Railways
13.10.4 Actuators
13.10.5 Drills
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 Rack and Pinion Market: Competitive Dashboard
14.2 Global Rack and Pinion Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Emerson Electric
14.3.2 Pentair
14.3.3 Rotork Controls
14.3.4 Ultimate Power Steering
14.3.5 Sirca
14.3.6 SMC Pneumatics
14.3.7 Emerson Electric