Home / Automotive & Transportation / Automotive Power Steering Systems Market By Product Type (Electronic Power Steering (EPS), Hydraulic Power Steering (HPS), Electronic & Hydraulic Power Steering (EHPS) ), By Vehicle Class (Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (LCV), Off-Road Vehicles), By End-Market (Original Equipment Manufacturers (OEMS), Aftermarket ) - Growth, Future Prospects And Competitive Analysis, 2017 - 2025

Automotive Power Steering Systems Market By Product Type (Electronic Power Steering (EPS), Hydraulic Power Steering (HPS), Electronic & Hydraulic Power Steering (EHPS) ), By Vehicle Class (Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (LCV), Off-Road Vehicles), By End-Market (Original Equipment Manufacturers (OEMS), Aftermarket ) - Growth, Future Prospects And Competitive Analysis, 2017 - 2025

Published: Sep 2017 | Report Code: 58706-09-17

Automotive steering system is among the most integral parts installed automobile vehicles. Steering systems allows the driver to control and maneuver the vehicle in desired direction. The basic components of an automotive steering system include steering wheel, steering column, universal joints, rack & pinion mechanism and other control mechanism. Over the period of time, the overall automotive steering systems industry has witnessed paradigm shift, in terms of operating mechanism. The industry has evolved dynamically starting from rigid manual steering to flexible power assisted steering systems. This provides easy maneuverability, better vehicle stability and reduced driver fatigue. Additionally, power assisted steering systems are designed to enhance the fuel efficiency, thereby driving the market penetration.

The overall automotive power steering systems market is primarily driven by the consistently growing automotive industry worldwide. With the rising discretionary income of the people worldwide, consumption of luxury and semi-luxury vehicles has risen considerably since the past couple of decades. Subsequently, automotive steering systems too have witnessed profound advancements in operating mechanism and comfort. Moreover, phasing out manual steering systems is another major factor propelling the demand for power steering systems. Due to continually growing automotive production along with demand for high-end vehicles, the market is set to continue growing steadily in the following years.

Automotive Power Steering Systems Market

The report titled “Global Automotive Power Steering Systems Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” offers strategic insights into the global automotive power steering systems market along with the market size and estimates for the duration 2015 to 2025. The said research study covers in-depth analysis of market segments based on product type, vehicle class, end-market and cross-sectional study across different geographies and sub-geographical regions. The study covers the comparative analysis of different segments for the years 2016 & 2025. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities. In addition, the report includes a section providing insights on the key trends followed in the market.

In order to help strategic decision makers, the report also includes competitive profiling of the leading automotive power steering system vendors, their business strategy analysis, market positioning and key developments. Some of the major players profiled in the report are Robert Bosch Automotive Steering GmbH, Mitsubishi Electric Corporation, Hyundai Mobis Co., Ltd., JTEKT Corporation, ThyssenKrupp Presta AG, Nexteer Automotive Group Ltd., ZF Friedrichshafen AG (TRW Automotive), China Automotive Systems, Inc., Mando Corporation, Delphi Automotive Plc., Daimler AG and several others. Apart from the company profiles, the report includes a section covering the competitive landscape wherein the market positioning of the companies has been discussed. The section also provides a view of key business strategies adopted by the leading market players. Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive markets within the automotive power steering systems industry
  • Comparative analysis for different segments for the years 2016 & 2025
  • Market fuelers, market impediments, and their impact on the market growth
  • In-depth competitive environment analysis including the positioning of market players and their business strategy analysis
  • Trailing 2-Year market size data (2015 – 2016)
  • SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global automotive power steering systems market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above mentioned factors.

Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology
1.4.1 Phase I – Secondary Research
1.4.2 Phase II – Primary Research
1.4.3 Phase III – Expert Panel Review
1.4.4 Assumptions
1.4.5 Approach Adopted

Chapter 2 Executive Summary
2.1 Market Snapshot: Global Automotive Power Steering Systems Market
2.2 Global Automotive Power Steering Systems Market, By Product Type
2.3 Global Automotive Power Steering Systems Market, By Vehicle Class
2.4 Global Automotive Power Steering Systems Market, By End-market
2.5 Global Automotive Power Steering Systems Market, By Geography

Chapter 3 Market Dynamics
3.1 Market Overview
3.1.1 Global Automotive Power Steering Systems Market Revenue and Growth, 2015 – 2025, (US$ Bn) (Y-o-Y %)
3.2 Market Drivers
3.3 Market Growth Inhibitors
3.3.1 Impact Analysis of Drivers and Restraints
3.4 Key Market Trends and Future Outlook
3.5 Attractive Investment Proposition
3.6 Competitive Analysis
3.6.1 Market Positioning of Key Vendors
3.6.2 Key Strategies Adopted by the Leading Players

Chapter 4 Global Automotive Power Steering Systems Market Analysis, by Product Type
4.1 Market Analysis
4.2 Electronic Power Steering (EPS)
4.3 Hydraulic Power Steering (HPS)
4.4 Electronic & Hydraulic Power Steering (EHPS)

Chapter 5 Global Automotive Power Steering Systems Market Analysis, by Vehicle Class
5.1 Market Analysis
5.2 Passenger Cars
5.3 Light Commercial Vehicles (LCV)
5.4 Heavy Commercial Vehicles (LCV)
5.5 Off-road Vehicles

Chapter 6 Global Automotive Power Steering Systems Market Analysis, by End-market
6.1 Market Analysis
6.2 Original Equipment Manufacturers (OEMs)
6.3 Aftermarket

Chapter 7 North America Automotive Power Steering Systems Market Analysis
7.1 Overview
7.2 North America Automotive Power Steering Systems Market Analysis, By Product Type, 2015 – 2025
7.2.1 Market Analysis
7.3 North America Automotive Power Steering Systems Market Analysis, By Vehicle Class, 2015 – 2025
7.3.1 Market Analysis
7.4 North America Automotive Power Steering Systems Market Analysis, By End-market, 2015 – 2025
7.4.1 Market Analysis
7.5 North America Automotive Power Steering Systems Market Analysis, By Region, 2015 – 2025
7.5.1 U.S.
7.5.1.1 U.S. Automotive Power Steering Systems Market Revenue, by Product Type, 2015 – 2025 (US$ Bn)
7.5.1.2 U.S. Automotive Power Steering Systems Market Revenue, by Vehicle Class, 2015 – 2025 (US$ Bn)
7.5.1.3 U.S. Automotive Power Steering Systems Market Revenue, by End-market, 2015 – 2025 (US$ Bn)
7.5.2 Canada
7.5.2.1 Canada Automotive Power Steering Systems Market Revenue, by Product Type, 2015 – 2025 (US$ Bn)
7.5.2.2 Canada Automotive Power Steering Systems Market Revenue, by Vehicle Class, 2015 – 2025 (US$ Bn)
7.5.2.3 Canada Automotive Power Steering Systems Market Revenue, by End-market, 2015 – 2025 (US$ Bn)

Chapter 8 Europe Automotive Power Steering Systems Market Analysis
8.1 Overview
8.2 Europe Automotive Power Steering Systems Market Analysis, By Product Type, 2015 – 2025
8.2.1 Market Analysis
8.3 Europe Automotive Power Steering Systems Market Analysis, By Vehicle Class, 2015 – 2025
8.3.1 Market Analysis
8.4 Europe Automotive Power Steering Systems Market Analysis, By End-market, 2015 – 2025
8.4.1 Market Analysis
8.5 Europe Automotive Power Steering Systems Market Analysis, By Region, 2015 – 2025
8.5.1 U.K.
8.5.1.1 U.K. Automotive Power Steering Systems Market Revenue, by Product Type, 2015 – 2025 (US$ Bn)
8.5.1.2 U.K. Automotive Power Steering Systems Market Revenue, by Vehicle Class, 2015 – 2025 (US$ Bn)
8.5.1.3 U.K. Automotive Power Steering Systems Market Revenue, by End-market, 2015 – 2025 (US$ Bn)
8.5.2 Germany
8.5.2.1 Germany Automotive Power Steering Systems Market Revenue, by Product Type, 2015 – 2025 (US$ Bn)
8.5.2.2 Germany Automotive Power Steering Systems Market Revenue, by Vehicle Class, 2015 – 2025 (US$ Bn)
8.5.2.3 Germany Automotive Power Steering Systems Market Revenue, by End-market, 2015 – 2025 (US$ Bn)
8.5.3 Russia
8.5.3.1 Russia Automotive Power Steering Systems Market Revenue, by Product Type, 2015 – 2025 (US$ Bn)
8.5.3.2 Russia Automotive Power Steering Systems Market Revenue, by Vehicle Class, 2015 – 2025 (US$ Bn)
8.5.3.3 Russia Automotive Power Steering Systems Market Revenue, by End-market, 2015 – 2025 (US$ Bn)
8.5.4 Rest of Europe
8.5.4.1 Rest of Europe Automotive Power Steering Systems Market Revenue, by Product Type, 2015 – 2025 (US$ Bn)
8.5.4.2 Rest of Europe Automotive Power Steering Systems Market Revenue, by Vehicle Class, 2015 – 2025 (US$ Bn)
8.5.4.3 Rest of Europe Automotive Power Steering Systems Market Revenue, by End-market, 2015 – 2025 (US$ Bn)

Chapter 9 Asia Pacific Automotive Power Steering Systems Market Analysis
9.1 Overview
9.2 Asia Pacific Automotive Power Steering Systems Market Analysis, By Product Type, 2015 – 2025
9.2.1 Market Analysis
9.3 Asia Pacific Automotive Power Steering Systems Market Analysis, By Vehicle Class, 2015 – 2025
9.3.1 Market Analysis
9.4 Asia Pacific Automotive Power Steering Systems Market Analysis, By End-market, 2015 – 2025
9.4.1 Market Analysis
9.5 Asia Pacific Automotive Power Steering Systems Market Analysis, By Region, 2015 – 2025
9.5.1 China
9.5.1.1 China Automotive Power Steering Systems Market Revenue, by Product Type, 2015 – 2025 (US$ Bn)
9.5.1.2 China Automotive Power Steering Systems Market Revenue, by Vehicle Class, 2015 – 2025 (US$ Bn)
9.5.1.3 China Automotive Power Steering Systems Market Revenue, by End-market, 2015 – 2025 (US$ Bn)
9.5.2 Japan
9.5.2.1 Japan Automotive Power Steering Systems Market Revenue, by Product Type, 2015 – 2025 (US$ Bn)
9.5.2.2 Japan Automotive Power Steering Systems Market Revenue, by Vehicle Class, 2015 – 2025 (US$ Bn)
9.5.2.3 Japan Automotive Power Steering Systems Market Revenue, by End-market, 2015 – 2025 (US$ Bn)
9.5.3 South Asia
9.5.3.1 South Asia Automotive Power Steering Systems Market Revenue, by Product Type, 2015 – 2025 (US$ Bn)
9.5.3.2 South Asia Automotive Power Steering Systems Market Revenue, by Vehicle Class, 2015 – 2025 (US$ Bn)
9.5.3.3 South Asia Automotive Power Steering Systems Market Revenue, by End-market, 2015 – 2025 (US$ Bn)
9.5.4 Rest of Asia Pacific
9.5.4.1 Rest of Asia Pacific Automotive Power Steering Systems Market Revenue, by Product Type, 2015 – 2025 (US$ Bn)
9.5.4.2 Rest of Asia Pacific Automotive Power Steering Systems Market Revenue, by Vehicle Class, 2015 – 2025 (US$ Bn)
9.5.4.3 Rest of Asia Pacific Automotive Power Steering Systems Market Revenue, by End-market, 2015 – 2025 (US$ Bn)

Chapter 10 Rest of the World (RoW) Automotive Power Steering Systems Market Analysis
10.1 Overview
10.2 RoW Automotive Power Steering Systems Market Analysis, By Product Type, 2015 – 2025
10.2.1 Market Analysis
10.3 RoW Automotive Power Steering Systems Market Analysis, By Vehicle Class, 2015 – 2025
10.3.1 Market Analysis
10.4 RoW Automotive Power Steering Systems Market Analysis, By End-market, 2015 – 2025
10.4.1 Market Analysis
10.5 RoW Automotive Power Steering Systems Market Analysis, By Region, 2015 – 2025
10.5.1 Middle East & Africa (MEA)
10.5.1.1 MEA Automotive Power Steering Systems Market Revenue, by Product Type, 2015 – 2025 (US$ Bn)
10.5.1.2 MEA Automotive Power Steering Systems Market Revenue, by Vehicle Class, 2015 – 2025 (US$ Bn)
10.5.1.3 MEA Automotive Power Steering Systems Market Revenue, by End-market, 2015 – 2025 (US$ Bn)
10.5.2 Latin America
10.5.2.1 Latin America Automotive Power Steering Systems Market Revenue, by Product Type, 2015 – 2025 (US$ Bn)
10.5.2.2 Latin America Automotive Power Steering Systems Market Revenue, by Vehicle Class, 2015 – 2025 (US$ Bn)
10.5.2.3 Latin America Automotive Power Steering Systems Market Revenue, by End-market, 2015 – 2025 (US$ Bn)

Chapter 11 Company Profiles
11.1 Robert Bosch Automotive Steering GmbH
11.2 Mitsubishi Electric Corporation
11.3 Hyundai Mobis Co., Ltd.
11.4 JTEKT Corporation
11.5 ThyssenKrupp Presta AG
11.6 Nexteer Automotive Group Ltd.
11.7 ZF Friedrichshafen AG (TRW Automotive)
11.8 China Automotive Systems, Inc.
11.9 Mando Corporation
11.10 Delphi Automotive Plc.
11.11 Daimler AG

Notes : 

  • Profiles of specific players, if required, shall be added to the report upon request

List Of Table :

TABLE 1 Market Snapshot: Global Automotive Power Steering Systems Market
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 North America Automotive Power Steering Systems Market Revenue, By Product Type, 2015 – 2025 (US$ Bn)
TABLE 5 North America Automotive Power Steering Systems Market Revenue, By Vehicle Class, 2015 – 2025 (US$ Bn)
TABLE 6 North America Automotive Power Steering Systems Market Revenue, By End-market, 2015 – 2025 (US$ Bn)
TABLE 7 U.S. Automotive Power Steering Systems Market Revenue, By Product Type, 2015 – 2025 (US$ Bn)
TABLE 8 U.S. Automotive Power Steering Systems Market Revenue, By Vehicle Class, 2015 – 2025 (US$ Bn)
TABLE 9 U.S. Automotive Power Steering Systems Market Revenue, By End-market, 2015 – 2025 (US$ Bn)
TABLE 10 Canada Automotive Power Steering Systems Market Revenue, By Product Type, 2015 – 2025 (US$ Bn)
TABLE 11 Canada Automotive Power Steering Systems Market Revenue, By Vehicle Class, 2015 – 2025 (US$ Bn)
TABLE 12 Canada Automotive Power Steering Systems Market Revenue, By End-market, 2015 – 2025 (US$ Bn)
TABLE 13 Europe Automotive Power Steering Systems Market Revenue, By Product Type, 2015 – 2025 (US$ Bn)
TABLE 14 Europe Automotive Power Steering Systems Market Revenue, By Vehicle Class, 2015 – 2025 (US$ Bn)
TABLE 15 Europe Automotive Power Steering Systems Market Revenue, By End-market, 2015 – 2025 (US$ Bn)
TABLE 16 U.K. Automotive Power Steering Systems Market Revenue, By Product Type, 2015 – 2025 (US$ Bn)
TABLE 17 U.K. Automotive Power Steering Systems Market Revenue, By Vehicle Class, 2015 – 2025 (US$ Bn)
TABLE 18 U.K. Automotive Power Steering Systems Market Revenue, By End-market, 2015 – 2025 (US$ Bn)
TABLE 19 Germany Automotive Power Steering Systems Market Revenue, By Product Type, 2015 – 2025 (US$ Bn)
TABLE 20 Germany Automotive Power Steering Systems Market Revenue, By Vehicle Class, 2015 – 2025 (US$ Bn)
TABLE 21 Germany Automotive Power Steering Systems Market Revenue, By End-market, 2015 – 2025 (US$ Bn)
TABLE 22 Russia Automotive Power Steering Systems Market Revenue, By Product Type, 2015 – 2025 (US$ Bn)
TABLE 23 Russia Automotive Power Steering Systems Market Revenue, By Vehicle Class, 2015 – 2025 (US$ Bn)
TABLE 24 Russia Automotive Power Steering Systems Market Revenue, By End-market, 2015 – 2025 (US$ Bn)
TABLE 25 Rest of Europe Automotive Power Steering Systems Market Revenue, By Product Type, 2015 – 2025 (US$ Bn)
TABLE 26 Rest of Europe Automotive Power Steering Systems Market Revenue, By Vehicle Class, 2015 – 2025 (US$ Bn)
TABLE 27 Rest of Europe Automotive Power Steering Systems Market Revenue, By End-market, 2015 – 2025 (US$ Bn)
TABLE 28 Asia Pacific Automotive Power Steering Systems Market Revenue, By Product Type, 2015 – 2025 (US$ Bn)
TABLE 29 Asia Pacific Automotive Power Steering Systems Market Revenue, By Vehicle Class, 2015 – 2025 (US$ Bn)
TABLE 30 Asia Pacific Automotive Power Steering Systems Market Revenue, By End-market, 2015 – 2025 (US$ Bn)
TABLE 31 China Automotive Power Steering Systems Market Revenue, By Product Type, 2015 – 2025 (US$ Bn)
TABLE 32 China Automotive Power Steering Systems Market Revenue, By Vehicle Class, 2015 – 2025 (US$ Bn)
TABLE 33 China Automotive Power Steering Systems Market Revenue, By End-market, 2015 – 2025 (US$ Bn)
TABLE 34 Japan Automotive Power Steering Systems Market Revenue, By Product Type, 2015 – 2025 (US$ Bn)
TABLE 35 Japan Automotive Power Steering Systems Market Revenue, By Vehicle Class, 2015 – 2025 (US$ Bn)
TABLE 36 Japan Automotive Power Steering Systems Market Revenue, By End-market, 2015 – 2025 (US$ Bn)
TABLE 37 South Asia Automotive Power Steering Systems Market Revenue, By Product Type, 2015 – 2025 (US$ Bn)
TABLE 38 South Asia Automotive Power Steering Systems Market Revenue, By Vehicle Class, 2015 – 2025 (US$ Bn)
TABLE 39 South Asia Automotive Power Steering Systems Market Revenue, By End-market, 2015 – 2025 (US$ Bn)
TABLE 40 Rest of Asia Pacific Automotive Power Steering Systems Market Revenue, By Product Type, 2015 – 2025 (US$ Bn)
TABLE 41 Rest of Asia Pacific Automotive Power Steering Systems Market Revenue, By Vehicle Class, 2015 – 2025 (US$ Bn)
TABLE 42 Rest of Asia Pacific Automotive Power Steering Systems Market Revenue, By End-market, 2015 – 2025 (US$ Bn)
TABLE 43 RoW Automotive Power Steering Systems Market Revenue, By Product Type, 2015 – 2025 (US$ Bn)
TABLE 44 RoW Automotive Power Steering Systems Market Revenue, By Vehicle Class, 2015 – 2025 (US$ Bn)
TABLE 45 RoW Automotive Power Steering Systems Market Revenue, By End-market, 2015 – 2025 (US$ Bn)
TABLE 46 MEA Automotive Power Steering Systems Market Revenue, By Product Type, 2015 – 2025 (US$ Bn)
TABLE 47 MEA Automotive Power Steering Systems Market Revenue, By Vehicle Class, 2015 – 2025 (US$ Bn)
TABLE 48 MEA Automotive Power Steering Systems Market Revenue, By End-market, 2015 – 2025 (US$ Bn)
TABLE 49 Latin America Automotive Power Steering Systems Market Revenue, By Product Type, 2015 – 2025 (US$ Bn)
TABLE 50 Latin America Automotive Power Steering Systems Market Revenue, By Vehicle Class, 2015 – 2025 (US$ Bn)
TABLE 51 Latin America Automotive Power Steering Systems Market Revenue, By End-market, 2015 – 2025 (US$ Bn)
TABLE 52 Robert Bosch Automotive Steering GmbH: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 53 Mitsubishi Electric Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 54 Hyundai Mobis Co., Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 55 JTEKT Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 56 ThyssenKrupp Presta AG: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 57 Nexteer Automotive Group Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 58 ZF Friedrichshafen AG (TRW Automotive): Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 59 China Automotive Systems, Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 60 Mando Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 61 Delphi Automotive Plc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 62 Daimler AG: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)

List Of Figures :

FIG. 1 Global Automotive Power Steering Systems: Market Segmentation
FIG. 2 Global Automotive Power Steering Systems Market: Research Methodology
FIG. 3 Top-Down and Bottom Up Approach
FIG. 4 Global Automotive Power Steering Systems Market, By Product Type, 2016 (US$ Bn)
FIG. 5 Global Automotive Power Steering Systems Market, By Vehicle Class, 2016 (US$ Bn)
FIG. 6 Global Automotive Power Steering Systems Market, By End-market, 2016 (US$ Bn)
FIG. 7 Global Automotive Power Steering Systems Market, By Geography, 2016 (US$ Bn)
FIG. 8 Global Automotive Power Steering Systems Market Revenue and Growth, 2015 – 2025, (US$ Bn) (Y-o-Y %)
FIG. 9 Attractive Investment Proposition
FIG. 10 Market Positioning of Key Automotive Power Steering Systems Manufacturers, 2016
FIG. 11 Global Automotive Power Steering Systems Market Revenue Contribution, By Product Type, 2016 & 2025 (%)
FIG. 12 Global Electronic Power Steering Systems Market Revenue, 2015 – 2025, (US$ Bn)
FIG. 13 Global Hydraulic Power Steering Systems Market Revenue, 2015 – 2025, (US$ Bn)
FIG. 14 Global Electronic & Hydraulic Power Steering Systems Market Revenue, 2015 – 2025, (US$ Bn)
FIG. 15 Global Automotive Power Steering Systems Market Revenue Contribution, By Vehicle Class, 2016 & 2025 (%)
FIG. 16 Global Automotive Power Steering Systems Market Revenue from Passenger Cars, 2015 – 2025, (US$ Bn)
FIG. 17 Global Automotive Power Steering Systems Market Revenue from LCV, 2015 – 2025, (US$ Bn)
FIG. 18 Global Automotive Power Steering Systems Market Revenue from HCV, 2015 – 2025, (US$ Bn)
FIG. 19 Global Automotive Power Steering Systems Market Revenue from Off-road Vehicles, 2015 – 2025, (US$ Bn)
FIG. 20 Global Automotive Power Steering Systems Market Revenue Contribution, By End-market, 2016 & 2025 (%)
FIG. 21 Global Automotive Power Steering Systems Market Revenue from OEMs, 2015 – 2025 (US$ Bn)
FIG. 22 Global Automotive Power Steering Systems Market Revenue from Aftermarket, 2015 – 2025 (US$ Bn)
FIG. 23 North America Automotive Power Steering Systems Market Revenue, 2015 – 2025, (US$ Bn)
FIG. 24 Europe Automotive Power Steering Systems Market Revenue, 2015 – 2025, (US$ Bn)
FIG. 25 Asia Pacific Automotive Power Steering Systems Market Revenue, 2015 – 2025, (US$ Bn)
FIG. 26 RoW Automotive Power Steering Systems Market Revenue, 2015 – 2025, (US$ Bn)

On the basis of vehicle class, the global automotive power steering systems market is segmented into following categories:

  • Passenger Cars
  • Light Commercial Vehicles (LCV)
  • Heavy Commercial Vehicles (HCV)
  • Off-road Vehicles

Their contribution to the global automotive power steering systems market in 2016 is as shown in the figure below:

Automotive Power Steering Systems Market

As of 2016, the overall automotive steering systems worldwide market is led by the passenger cars segment. The segment contributes to more than one third of the total market revenue, as of 2016. LCV and HCV segments follow passenger cars segment, in terms of revenue and volume. The passenger cars segment growth is primarily attributed to the high sales volume of passenger cars as compared to other vehicle classes. With the increasing discretionary income of the people worldwide, passenger cars sales is set to continue witnessing steady growth.

Over the past few years, passenger cars are predominantly equipped with power steering systems. Due to growing consumption of luxury and semi-luxury cars, the demand for power steering systems has witnessed profound growth, over the past few years. As a result, the segment would continue dominating the market over the forecast period. In the following years, off-road vehicles segment is set to demonstrate the highest growth rate in the market. This is primarily due to the increasing efforts by the market players towards catering the segment.

Based on the geography, the global automotive power steering systems market is segmented as per following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • South Asia
    • Rest of Asia Pacific
  • Rest of the World (RoW)
    • Middle East & Africa (MEA)
    • Latin America

 Automotive Power Steering Systems Market

The global automotive power steering systems market is dominated by the Asia Pacific region. As of 2016, the region accounts for more than forty percent of the overall market revenue generated worldwide. The automotive power steering systems market here is majorly attributed to the presence of huge automotive industry, in terms of production as well as consumption. Major markets for power steering systems include China, Japan, South Korea, India and some of the Southeast Asia countries.

With the continually rising automotive industry in Asia Pacific, the region is set to maintain its dominant position in the global market in the following years. Europe follows Asia Pacific, in terms of revenue and volume, in the market. The market here is primarily governed by the huge automotive industry in the Western Europe region. Major markets for automotive power steering systems include Germany, France, Spain, Italy and the U.K. having huge automotive production sector.

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