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Automotive Steering System Market Top Key Players - ZF Friedrichshafen AG, Bosch, Global Steering Systems LLC, Nexteer, JTEKT Corporation, RH Sheppard, Mando Corporation

07-16-2021 10:25 AM CET | Industry, Real Estate & Construction

Press release from: Mobility Foresights

Automotive Steering System Market Top Key Players - ZF

The global automotive steering system market is estimated at ~$22 Billion in 2020, growing at 7% CAGR till 2025. The average per unit price of steering systems is expected to remain stagnant, globally till 2022 when Euro NCAP trials begin. Many OEMs have already asked for price cut from their respective steering system suppliers.

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/

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

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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