Automotive Steering System Market Top Key players - ZF Friedrichshafen AG, Bosch , Global Steering Systems LLC, Nexteer, JTEKT Corporation, RH Sheppard, Mando Corporation, Hyundai Mobis, Hitachi Automotive Systems, China Automotive Systems, Inc

The global automotive steering system market is estimated at ~$XX Billion in 2020, growing at X% CAGR till 2026. EPS and cooperative control is also required for ADAS features like BSD (Blind Spot Detection), Parallel park assist. Therefore, for all steering system suppliers, their ADAS exposure is based completely on electric power steering.

As of September 2020, electric power steering and hydraulic power steering are most common in the passenger car segment, while hydraulic/electro-hydraulic steering systems are most common in commercial vehicles. The rack-type EPS requires higher motor power and handling performance than column-type EPS and is mounted on medium and high segment vehicles.

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AUTOMOTIVE STEERING SYSTEM MARKET DYNAMICS

• Passenger cars have ended the transition from manual/hydraulic power steering to electronic power steering (EPS), and 98% of new platforms that all OEMs are planning are equipped with EPS as standard. More than 20 cars have pledged to equip all new passenger cars with Low Speed Automatic Emergency Brake (AEB) technology by September 2022.

• Steering-by-Wire L2 Automation (double the amount compared to traditional operating systems) is expected to drive revenue growth for all suppliers over the next five years, especially after 2022, when Euro NCAP2025 is nearing. Automatic emergency steering is the biggest realization factor in wired steering.

AUTOMOTIVE STEERING SYSTEM MARKET SEGMENTATION

BY APPLICATION
• Passenger cars
• LCV
• M&HCV

BY STEERING TYPE
• EPS
• HPS
• Manual

BY OEM
• VW
• Toyota
• GM
• Ford
• Chinese OEMs
• Other OEMs

BY GEOGRAPHY
• US
• China
• Europe
• ASEAN
• India
• ROW

RECENT TREND IN THE AUTOMOTIVE STEERING MARKET

• In July 2021, Tesla confirmed that future Model S and X vehicles would adopt a yoke design steering wheel.

• June 2021 Autolive opens a new steering wheel manufacturing plant in Mexico. The plant is expected to be operational by January 2022.

• Tesla has confirmed the introduction of four-wheel steering or rear-wheel steering in its next compact truck “Cyber Truck.”

• Chennai-based brake manufacturer Brake India has launched Ezsteer, a high-performance power steering oil for passenger cars and commercial vehicles.

• Nexteer is collaborating with Israel-based tactile virtual sensing and data company Tactile Mobility to explore advanced steering safety features, including real-time road detection.

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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