Press release
Automotive Steering System Market Top Key Players - ZF Friedrichshafen AG, Bosch, Global Steering Systems LLC, Nexteer, JTEKT Corporation, RH Sheppard, Mando Corporation
Steer by wire-L2 automation (2X dollar content compared to conventional steering system) is expected to bring in the revenue growth for all suppliers in next 5 years, especially post 2022 when Euro NCAP 2025 starts approaching. Automatic emergency steering will be the biggest enabler of Steer by wire.
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CHINA AUTOMOTIVE STEERING SYSTEM MARKET
China led Asia pacific market accounts for highest number of new product launches for steering system suppliers. Although, the decline in auto production forecast for 2019 and 2020 is unprecedented, it is still the biggest automotive market globally.
The decline of Chinese passenger car sales (~8% YOY) in 2019 and a reduced guidance for 2020 is major challenge to the global Automotive steering system market.
COMPETITIVE LANDSCAPE
The global automotive steering system market is highly concentrated among less than 10 vendors. There is an intense cost competition among suppliers in lower and mid-segment vehicles as the technology value add is minimal. The gross margins on EPS products are lowest among all steering types as many tier-1 suppliers are dependent on other suppliers for sub-component sourcing.
AUTOMOTIVE STEERING SYSTEM MARKET SEGMENTATION
By OEM
• VW
• Toyota
• GM
• Ford
• Chinese OEMs
• Other OEMs
By STEERING TYPE
• EPS
• HPS
• Manual
BY APPLICATION
• Passenger cars
• LCV
• M&HCV
BY GEOGRAPHY
• US
• China
• Europe
• Asean
• India
• ROW
COMPANY PROFILES
ZF Friedrichshafen AG
Bosch
Global Steering Systems LLC
Nexteer
JTEKT Corporation
RH Sheppard
Mando Corporation
Hyundai Mobis
Hitachi Automotive Systems
China Automotive Systems, Inc
Read More Information: https://mobilityforesights.com/product/automotive-steering-system-market/
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Contact Person: Kunal Roy
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About Us:
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.
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