Automotive Steering System Market was Valued at US$ 22 Bn in 2019, at a CAGR of 4% over the forecast period (2020–2030) | JTEKT Corporation, Nexteer Automotive Group Ltd, Showa Corporation

FMI offers a 10-year forecast for the Automotive Steering System between 2017 and 2027. In terms of value, the market is expected to register a CAGR of 3.5% during the forecast period (2017–2027). The main objective of the report is to offer insights on the advancements in the global Automotive Steering System market. The study provides market dynamics that are expected to influence the current environment and future status of the Automotive Steering System over the forecast period. The primary objective of this report is to offer updates on trends, drivers, restraints, value forecasts and opportunities for manufacturers operating in the Automotive Steering System market.

A section of the report discusses how the overall competition in the market is steadily increasing. It discusses various factors that are shaping internal as well as external competition in the market. The Automotive Steering System market is expected to grow at a stable pace in near future. Moreover, steady growth of the automotive industry -- due to increase in vehicle production, sales & fleet on road, infrastructural development, economic growth and rising purchasing power -- is anticipated to create healthy growth opportunities in the Automotive Steering System market.

The report provides detailed market share analysis of the Automotive Steering System market on the basis of key manufacturers. A section of the report highlights overall country-wise Automotive Steering System Market. It provides a market outlook for 2017–2027 and sets the forecast within the context of the report. The report sheds light on key developments and activities being executed by the prominent manufacturers operating in the Automotive Steering System market.

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Automotive Steering System Market Participants

In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view of global Automotive Steering System market. Detailed profiles of manufacturers have also been included within the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the Automotive Steering System. Some of the key players covered under the scope of this report on global Automotive Steering System are JTEKT Corporation, Nexteer Automotive Group Ltd., Showa Corp., ThyssenKrupp AG, Hitachi Automotive System Ltd., Sona Koyo Steering System Ltd., Robert Bosch GmbH, NSK Steering System Co. Ltd., Mando Corp., ZF Friedrichshafen AG, Magal Engineering Limited, ATS Automation Tooling System Inc., and Hyundai Mobis.

Key Segments Covered in Automotive Steering System Market Report:

On the basis of technology, the Automotive Steering System market can be segmented into:

Hydraulic Automotive Steering System

Electronic Automotive Steering System

H-EPS

C-EPS

P-EPS

R-EPS

On the basis of vehicle type, the Automotive Steering System market can be segmented into:

Passenger Car

Compact

Mid-Size

Premium

Luxury

SUV

Light Commercial Vehicle (LCV)

Heavy Commercial Vehicle (HCV)

On the basis of region, the Automotive Steering market can be segmented into:

North America

Latin America

Western Europe

Eastern Europe

APEJ

Japan

Middle East & Africa (MEA)

A detailed analysis has been provided for every segment, in terms of market size (volume and value) analysis for Automotive Steering System.

The report starts with the market overview and provides market definition and analysis of drivers, restraints, opportunities, supply chain and key trends in the Automotive Steering System market. The next section includes global Automotive Steering System market analysis by technology, vehicle type and region-level analysis. All the above sections evaluate the Automotive Steering System market on the basis of various factors affecting the market and cover present scenario and future prospects. For market data analysis, the report provides historical data from 2012 to 2016 and considers 2016 as the base year, with Automotive Steering System market numbers estimated for 2017 and forecast made for 2018–2027.

It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecast in terms of CAGR, but also analyse the same on the basis of key parameters, such as year-on-year (Y-o-Y) growth, to understand the predictability of the market and identify the right opportunities for market players.

Another key feature of the Automotive Steering System market report is the analysis of all key segments in terms of absolute dollar. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as in identifying potential resources from a sales and delivery perspective in the Automotive Steering System market.

Research Methodology of Automotive Steering System Market

The report titled “Automotive Steering System Market” focuses on providing information regarding the volume and value of market from a global perspective. The research on the said market was initiated thorough secondary research on the product, using both top-down and bottom-up approaches, right down to the country and segmental level. Automotive production, vehicle parc, market trends and growth projections were taken into consideration to arrive at the total market. In addition to the above secondary research, yearly revenue generated by the various technology types of Automotive Steering System was estimated.

Furthermore, the yearly revenue generated from Automotive Steering System manufacturing companies from each product type were obtained from both primary and secondary sources and then benchmarked at the regional level. Fluctuations in annual prices over the forecast period have been based on the historic market trends and expected percentage change in the upcoming years on the basis of investment has been done on the patent market and the related industry. Any decline or increase in price in the upcoming years has been kept linear for all the regions.

The Automotive Steering System market value, thus, deduced was once again cross verified and validated from the supply side. FMI’s proprietary regression analysis forecast model was adopted to generate the market estimation for the forecast years. This model takes into account the effects of macroeconomic factors impacting the overall Automotive Steering System market. All the data was further validated by primary respondents belonging to different levels of the value chain of the Automotive Steering System market, such as manufacturers and independent service providers.

Automotive Steering System Market Participants

In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view of global Automotive Steering System market. Detailed profiles of manufacturers have also been included within the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the Automotive Steering System. Some of the key players covered under the scope of this report on global Automotive Steering System are JTEKT Corporation, Nexteer Automotive Group Ltd., Showa Corp., ThyssenKrupp AG, Hitachi Automotive System Ltd., Sona Koyo Steering System Ltd., Robert Bosch GmbH, NSK Steering System Co. Ltd., Mando Corp., ZF Friedrichshafen AG, Magal Engineering Limited, ATS Automation Tooling System Inc., and Hyundai Mobis.

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