Global Automotive Steering System Market – Size, Outlook, Trends and Forecast (2024 – 2032)

like electric power steering system, hydraulic power steering system, recirculating ball & nut steering system, worm & roller steering system, and rack & pinion steering system are present by steering type. Steering is developed with the incorporation of the functions like traffic jam assistance, lane-keeping, and hand-on-wheel detection. Demand for electronic-based steering is increased with increase in the usage of electronic automotive. However, the power steering is ruling the automotive steering market by steering type. Passenger vehicles, heavy commercial vehicles, and light commercial vehicles are the sub-segments which are presently based on the vehicle type. Commercial vehicles segment is fastest growing in the emerging markets, and the passenger vehicles segment has the largest share with an increase in the number of units sold. To increase the safety of the vehicles, steering columns are incorporated. Pivot tilt steering columns and telescope steering columns are used in adding rigidity to the heavy commercial vehicles. The rack and pinion replace recirculating, and nut steering systems in the newer vehicles and this are the fastest growing segment based on the pivot alignment, and tilt steering system marks the largest share. New advancements in the technology have paved the way for the implementation of drive-by-wire technology to increase the efficiency of the steering and reduce the lag.

Geographical classification of automotive steering system market includes Europe, South America, North America, Middle East & Africa and  APAC regions. APAC had the large market share and considered to be the fastest growing region, owing to the facts like an increase in the road infrastructure, shift towards manufacturing and increase in the per

capita income. North America and Europe come after APAC in the regard of automotive steering as they are matured markets and are advanced in dealing with boat steering.

Global Automotive Steering System Market Trends:

• GKN EAXLE has powered world’s most powers most advanced electric taxi. The new range of electric taxi with lightweight driving components.
• Wabco Holdings AG has sighed long-term agreement with nexteer automotive for efficient and connected services for commercial vehicles including automotive steering.

Global Automotive Steering System Market Research Reports Includes:

• An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
• To have complete market analysis through industry value chain analysis, Porter’s five, PESTLE, SWOTanalysis, and Y-o-Y analysis.
• Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year–On–Year
• Identifying DROCin the current market and their impact in altering the market dynamics.
• Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial analysis with major competitors.
• Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
• Identify the latest developments, market shares and strategies that are employed by the major market players, such as
• Robert Bosch GmbH
• ZF Friedrichshafen AG
• GKN PLC
• Nexteer Automotive

Along with these companies, there were many other companies are considered in the report while analysing the Diagnostic Imaging Equipment market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.