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COVID Impact On Global Automotive Steering System Market 2020-2025

01-13-2021 01:22 PM CET | Tourism, Cars, Traffic

Press release from: Mobility Foresights

COVID Impact On Global Automotive Steering System Market

The automotive industry has been adversely impacted across every region globally as almost all governments implemented nonessential business restrictions to control the pandemic, resulting in production as well as dealership shutdowns during a significant part of H1-2020

The global automotive production peaked in 2017 and has been in decline mode ever since. COVID is expected to shrink 2020 auto production by as much as 22% and Pre-COVID levels are only expected to resume by 2023-2024.

Many OEMs have shelved/postponed plans to launch L4 and L5 autonomous vehicles which will have direct impact on future prospects of highly automated steering systems.

For steering suppliers, while all manufacturing facilities have resumed production with gradual recovery from the April lows, but it had a significant negative impact on H1-2020 financial results.

In China, suppliers are facing two major problems, 1) There is an intense price war (not sustainable in the long run) among suppliers and 2) OEMs are putting up ambitious sales targets which are of-course followed by multiple downward revisions throughout the year.In these circumstances it will be very difficult for any supplier to improve their revenues and gross margin.

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Steering on Demand for transition between driver and automated driving control. The system also enables the driver to choose between various driving performance options including sport, comfort and manual override modes.

DODGE CHARGER– The electric power steering can be calibrated to optimize steering effort for a variety of driving situations via settings in the SRT Performance Pages

Quiet Wheel Steering modifies the steering wheel rotation during an automated directional change reducing the potential hazards of a fast rotating steering wheel and improving driver’s safety and sense of security.

MERCEDES E CLASS- The steering wheel has a comprehensively digitalized steering called “the capacitive steering wheel”. The rim contains a two-zone sensor mat which detects whether the driver’s hands are gripping the steering wheel.

Japan headquartered JTEKT generates ~$6-$7 Billion per annum from its steering system business and is a preferred supplier to many Japanese OEMs. It had more than 25% share of global automotive steering system market in 2019.

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ZF Friedrichshafen AG
Global Steering Systems LLC
JTEKT Corporation
RH Sheppard
Mando Corporation
Hyundai Mobis
Hitachi Automotive Systems
China Automotive Systems, Inc

1. Automotive Steering System Market size and Forecast , by region, by application
2. Average B-2-B price for Automotive Steering System Market, by region, per user
3. Technology trends and related opportunity for new Automotive Steering System Market tech suppliers
4. Market share of leading vendors, by region,
5. Coronavirus impact on Automotive Steering System Market earnings

Media Contact
Company Name: Mobility Foresights
Contact Person: Kunal Roy
Phone: +1-315-675-4056
Address: P3&P4, HAL 3rd Stage
City: Bangalore
State: Karnataka

Company Name: Mobility Foresights
Contact Person: Kunal Roy
Phone: +1-315-675-4056
Address: P3&P4, HAL 3rd Stage
City: Bangalore
State: Karnataka

We are among the very few market research firms globally, specialized in mobility domain(s). Our zone of research entails automotive, aerospace, marine, locomotive, logistics and construction & agricultural equipment.We deal in syndicated research, custom research and consumer research for all the above domains mentioned.

We envision the future of mobility every single day, following mobility domains is not just our profession rather it’s our passion. We are here, just to serve you in the most ideal way and your fulfillment is above everything else.

The consistently changing business sector progression in mobility space has put considerably more accentuation on looking at advertise knowledge before your peers. An important market insight, when learned at opportune time, could be the distinction between a decent and a terrible business choice.

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