Market Overview:
The global SUV steering system 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 SUVs across the globe. Additionally, factors such as rising disposable income and technological advancements are also contributing to the growth of this market. The global SUV steering system market is segmented on the basis of type, application, and region. On the basis of type, it is divided into hydraulic power steering system and electric power steering system. The hydraulic power steering system segment dominates this market owing to its low cost and easy installation process as compared to electric power steering systems.
Product Definition:
SUV steering system is a mechanism that helps to guide the vehicle while turning. It consists of a steering wheel, steering column, and linkage between the two. The importance of SUV steering system is that it allows drivers to control their vehicles and make safe turns while driving.
Hydraulic Power Steering System:
The hydraulic power steering system is a type of steerable mechanism that is used in automobiles to provide the driver with an easier means of controlling and maneuvering the vehicle. The HPSS uses hydraulic pressure generated by an engine-driven pump to assist the driver in manual steering. In automobiles, where weight and momentum are significant factors, having a lighter steerable mechanism can make a considerable difference while driving.
Electric Power Steering:
Electric power steering (EPS) is a type of steering system that uses an electric motor for the purpose of moving the steering wheel. The EPS system does not use hydraulic assist, thereby reducing the effort required by the driver. In addition, it eliminates manual gear shifting and reduces noise & vibrations associated with it.
The global SUV Steering System market was valued at USD 23,15 billion in 2016.
Application Insights:
5 seats SUV accounted for the largest share of over 50.0% in 2017. The segment is expected to expand further at a steady CAGR owing to increasing demand from countries, such as India, China and Brazil. Moreover, growing preference for 5-seater sports utility vehicles among young population in developed countries including U.S., Canada and Germany will boost industry growth over the forecast period.
7 seat SUV is anticipated to be the fastest-growing application segment with a volume share of 23.8% by 2030 owing to high demand from developing regions including Asia Pacific and Middle East & Africa where personal vehicle ownership rate is still low compared with other regions of the world including North America and Europe).
Regional Analysis:
The Asia Pacific dominated the global market in terms of revenue in 2017. The region is expected to maintain its dominance over the forecast period. This can be attributed to increasing sales of seven-seaters and other large vehicles, especially in China and India. Moreover, rising demand for four-wheel drive vehicles will also have a positive impact on industry growth over the next eight years.
Europe accounted for a significant share of revenue as well as volume in 2017 owing to high demand from several key markets including Germany, France, Italy and U.K., among others but excluding Russia due to economic sanctions imposed against that country following Crimea annexation by Russia which has resulted into low penetration rate thus far during this decade (2014). However, with growing consumer preference towards electric power steering systems across all application segments including luxury cars; compact cars; mid-size cars; premium car segment such as BMW 3 Series/5 Series/7Series etc.
Growth Factors:
- Increasing demand for SUVs: The global SUV market is expected to grow at a CAGR of around 5% during the forecast period. This will lead to an increase in the demand for SUV steering systems.
- Technological advancements: The development of new and innovative technologies in the automotive sector is expected to drive the growth of the SUV steering system market during the forecast period.
- Rising disposable income: The increasing disposable income of consumers across regions is expected to boost the demand for luxury SUVs, which will subsequently lead to an increase in demand for advanced SUV steering systems.
- Growing urbanization: Rapid urbanization across emerging economies is leading to an increase in vehicle ownership, thereby driving growth in the global SUV steering system market during the forecast period. 5
Scope Of The Report
Report Attributes
Report Details
Report Title
SUV Steering System Market Research Report
By Type
Hydraulic Power Steering System, Electric Power Steering
By Application
5 Seats SUV, 7 Seat SUV, Other
By Companies
JTEKT, Bosch, NSK, Nexteer, ZF, Mobis, Showa, Thyssenkrupp, Mando
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
154
Number of Tables & Figures
108
Customization Available
Yes, the report can be customized as per your need.
Global SUV Steering System Market Report Segments:
The global SUV Steering System market is segmented on the basis of:
Types
Hydraulic Power Steering System, Electric Power Steering
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
5 Seats SUV, 7 Seat 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
- NSK
- Nexteer
- ZF
- Mobis
- Showa
- Thyssenkrupp
- Mando
Highlights of The SUV 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 Power Steering System
- Electric Power Steering
- By Application:
- 5 Seats SUV
- 7 Seat 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 SUV 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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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
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 SUV steering system is a type of steering system found in large, four-wheel drive vehicles. It uses a rack and pinion to move the vehicle's front wheels.
Some of the major players in the suv steering system market are JTEKT, Bosch, NSK, Nexteer, ZF, Mobis, Showa, Thyssenkrupp, Mando.
The suv steering system 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 SUV 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 SUV Steering System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 SUV 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 SUV 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 SUV Steering System Market Size & Forecast, 2018-2028
4.5.1 SUV Steering System Market Size and Y-o-Y Growth
4.5.2 SUV Steering System Market Absolute $ Opportunity
Chapter 5 Global SUV 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 SUV Steering System Market Size Forecast by Type
5.2.1 Hydraulic Power Steering System
5.2.2 Electric Power Steering
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global SUV 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 SUV Steering System Market Size Forecast by Applications
6.2.1 5 Seats SUV
6.2.2 7 Seat SUV
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global SUV 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 SUV 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 SUV Steering System Analysis and Forecast
9.1 Introduction
9.2 North America SUV 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 SUV Steering System Market Size Forecast by Type
9.6.1 Hydraulic Power Steering System
9.6.2 Electric Power Steering
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 SUV Steering System Market Size Forecast by Applications
9.10.1 5 Seats SUV
9.10.2 7 Seat 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 SUV Steering System Analysis and Forecast
10.1 Introduction
10.2 Europe SUV 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 SUV Steering System Market Size Forecast by Type
10.6.1 Hydraulic Power Steering System
10.6.2 Electric Power Steering
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 SUV Steering System Market Size Forecast by Applications
10.10.1 5 Seats SUV
10.10.2 7 Seat 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 SUV Steering System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific SUV 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 SUV Steering System Market Size Forecast by Type
11.6.1 Hydraulic Power Steering System
11.6.2 Electric Power Steering
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 SUV Steering System Market Size Forecast by Applications
11.10.1 5 Seats SUV
11.10.2 7 Seat 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 SUV Steering System Analysis and Forecast
12.1 Introduction
12.2 Latin America SUV 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 SUV Steering System Market Size Forecast by Type
12.6.1 Hydraulic Power Steering System
12.6.2 Electric Power Steering
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 SUV Steering System Market Size Forecast by Applications
12.10.1 5 Seats SUV
12.10.2 7 Seat 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) SUV Steering System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) SUV 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) SUV Steering System Market Size Forecast by Type
13.6.1 Hydraulic Power Steering System
13.6.2 Electric Power Steering
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) SUV Steering System Market Size Forecast by Applications
13.10.1 5 Seats SUV
13.10.2 7 Seat 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 SUV Steering System Market: Competitive Dashboard
14.2 Global SUV 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 NSK
14.3.4 Nexteer
14.3.5 ZF
14.3.6 Mobis
14.3.7 Showa
14.3.8 Thyssenkrupp
14.3.9 Mando
