Global Automotive Steering System Market Size was valued nearly USD 29,423.8 million by 2017 and is estimated to reach up to USD xx.xx billion by 2025. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 6.01% during the forecast period that is 2017-2025. The automotive steering system industry is majorly driven by the factors such as rising trend of integrating advanced features in vehicles, growing demand for electric vehicles, increase in regional vehicle sales and provide enhanced safety features has positively influenced market growth. The growth of the forged aluminum wheel market can be attributed to the increasing demand in the Asia Pacific region due to emerging economies such as China, India, Japan, South Korea, Australia and other prominent countries as well as major key manufacturers presence in this region are influenced industry demand in the coming years.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global automotive steering system market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global automotive steering system market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.

Market Segment Analysis

Basis on the type, the worldwide automotive steering system market is segmented into hydraulic power steering, electronic power steering, and electro-hydraulic power steering system.  The Type Analysis By (Revenue (USD Million/Billion), Growth (CAGR %) 2017 – 2025)

Based on vehicle global automotive steering system market has divided into passenger vehicle and commercial vehicle. The Analysis By (Revenue (USD Million/Billion), Growth (CAGR %) 2017 - 2025).

Based on regional analysis, the worldwide automotive steering system market is classified into North America - U.S, Canada, Mexico, Other; Asia-Pacific - India, Japan, China, South Korea, Australia and Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa; Regional Analysis By (Revenue (USD Million/billion), Growth (CAGR %) 2017 - 2025)

Regional Analysis

The global automotive steering system market is divided into regions that are North America - U.S, Canada, Other) (Asia-Pacific -India, Japan, China, Australia, Other) (Europe - UK, Russia, France, Brazil, Other) (Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. Asia Pacific held the largest share of the global market in 2018 and will expand at the highest CAGR during the forecast years because of increasing road infrastructure, growing automotive manufacturing, increasing high demand and production, presence of key manufacturers, growing consumer spending capacity and emerging economies such as India, China, Japan, South Korea and Australia. In additional, increasing demand for enhanced safety and convenience features in mid-segment vehicles and low labor cost are responsible for increasing sales.

Global Automotive Steering System Market Size, Share Analysis By Region 2017

The North America and Europe market is estimated to exhibit significant CAGR growth rate during the forecast timespan owing to increasing automobile production, innovation in terms of drive technologies, and proliferating adoption of electric vehicles are projected to boost demand in regional market. The U.S will be play significant role in terms of revenue and growth in the global market. Expanding manufacturing facilities in Middle East and Africa, owing to low-cost labor force, is a crucial factor spurring the regional market.

Global Automotive Steering System Market Study Objective

1. To forecast the market size of automotive steering system market, along with describing and defining the market, in terms of volume and revenue.

2. Market analysis and forecast of automotive steering system market on the basis of region, substrate and application or end-use industry.

3. To analyze and elaborate significant factors that will have major impact on the growth of automotive steering system market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of automotive steering system market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the automotive steering system market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

7. Analysis of market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

8. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

Key Players

The automotive steering system market is dominated by a few global players and comprises several regional players. Some of the key manufacturers operating in the market are China Automotive Systems Inc., JTEKT Corporation, Nexteer Automotive, Mando Corporation, ThyssenKrupp Presta AG, Robert Bosch Automotive Steering GmbH, Showa Corporation, NSK Ltd, Mitsubishi Electric Corporation, Sona Koyo Steering Systems Ltd., and Hyundai Mobis Co. Ltd.  

Global Automotive Steering System Market Study Report Offer You!

The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.