Market Overview:
The global rear axle steering system market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for passenger cars and commercial vehicles, and rising awareness about fuel efficiency and safety. Rear axle steering systems are used in passenger cars and commercial vehicles for better handling, stability, and fuel efficiency. They are also used for off-road applications such as mining, construction, agriculture, etc., where tight turning radius is required. The global rear axle steering system market can be segmented on the basis of type into single actuator systems and dual actuator systems. Dual actuator systems are more common than single actuator systems as they offer better handling characteristics due to their independent control over each wheel steer angle. On the basis of application, the market can be segmented into passenger cars and commercial vehicles.
Product Definition:
The rear axle steering system is a mechanism that allows the rear axle of a vehicle to turn in relation to the front axle. This is important for tight turning maneuvers, such as those required for parking. Without a rear axle steering system, the vehicle would have to make wide turns in order to accomplish the same task.
Single/Central Actuator:
Single/Central actuator is a device that controls the steering wheel and its movement from a single point. It has several advantages over conventional systems, which include reduced weight, size & cost of the system and less power consumption.
Advantages of Single/Central actuator in RAS (Rear Axle Steering) system: The reduction in power consumption reduces overall vehicle's energy cost & improves fuel efficiency.
Dual Actuator:
The dual actuator system is used in the rear axle steering system. The main function of this device is to provide two independent movements, which can be used to steer the vehicle. It also helps in maintaining stability while driving at high speeds and changing lanes.
The market for dual actuator.
Application Insights:
The passenger car segment held the largest share of over 70.0% in 2017. The growth can be attributed to rising sales of passenger cars, especially in developing countries such as India and China. Moreover, technological advancements have also played a crucial role in increasing the demand for rear axle steering systems among manufacturers across the globe. For instance, Mercedes-Benz introduced an innovative rear steer system on its 2018 E-Class which uses ultrasound technology for better accuracy while maneuvering turns at high speeds.
Commercial vehicles are expected to grow at a significant rate over the forecast period owing to increased utilization of commercial vehicles for logistics purposes across various industries such as food & beverage and retail among others which require heavy vehicle usage on a daily basis without any downtime or restocking fees involved.
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 commercial vehicles and passenger cars. China, India, Japan, South Korea and Taiwan are some of the largest markets for steer systems across this region.
The European market was valued at USD X million in 2017 and is anticipated to witness significant growth over the forecast period owing to rising investments from OEMs along with technological advancements by various research institutes working toward reducing fuel consumption through axle steering system implementation on heavy commercial vehicles as well as passenger cars. Moreover, stringent government regulations regarding carbon emissions are likely to play a key role in promoting axle steered systems across this region during the forecast period.
North America accounted for a share of more than 15% among all regions globally with U.S.
Growth Factors:
- Increasing demand for fuel-efficient and low-emission vehicles
- Rising demand for luxury cars
- Growing automotive sector in developing countries
- Technological advancements in rear axle steering systems
- Increasing adoption of rear axle steering systems by OEMs
Scope Of The Report
Report Attributes
Report Details
Report Title
Rear Axle Steering System Market Research Report
By Type
Single/Central Actuator, Dual Actuator
By Application
Passenger Car, Commercial Vehicle
By Companies
Bosch, ZF Friedrichshafen, LSP Innovative Automotive Systems, Aisin Group
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
147
Number of Tables & Figures
103
Customization Available
Yes, the report can be customized as per your need.
Global Rear Axle Steering System Market Report Segments:
The global Rear Axle Steering System market is segmented on the basis of:
Types
Single/Central Actuator, Dual Actuator
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
- ZF Friedrichshafen
- LSP Innovative Automotive Systems
- Aisin Group
Highlights of The Rear Axle 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:
- Single/Central Actuator
- Dual Actuator
- 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 Rear Axle 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?
Rear axle steering system is a type of suspension that helps steer the vehicle. It uses the rear wheels to provide directional control, instead of using front or rear axles.
Some of the key players operating in the rear axle steering system market are Bosch, ZF Friedrichshafen, LSP Innovative Automotive Systems, Aisin Group.
The rear axle steering system market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Rear Axle 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 Rear Axle Steering System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Rear Axle 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 Rear Axle 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 Rear Axle Steering System Market Size & Forecast, 2020-2028
4.5.1 Rear Axle Steering System Market Size and Y-o-Y Growth
4.5.2 Rear Axle 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 Single/Central Actuator
5.2.2 Dual Actuator
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 Car
6.2.2 Commercial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Rear Axle 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 Rear Axle 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 Single/Central Actuator
9.6.2 Dual Actuator
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 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 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 Single/Central Actuator
10.6.2 Dual Actuator
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 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 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 Single/Central Actuator
11.6.2 Dual Actuator
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 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 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 Single/Central Actuator
12.6.2 Dual Actuator
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 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) 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 Single/Central Actuator
13.6.2 Dual Actuator
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 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 Rear Axle Steering System Market: Competitive Dashboard
14.2 Global Rear Axle Steering System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bosch
14.3.2 ZF Friedrichshafen
14.3.3 LSP Innovative Automotive Systems
14.3.4 Aisin Group
