Automotive Steering System Market: A Comprehensive Analysis of Components, Technologies, and Trends 2024

Globally, the increasing demand for vehicles has directly driven the automotive steering system market growth. Many manufacturers are working on innovative technologies for the steering system. A variety of technologies, such as Steer by Wire (SbW) and control technology are being implemented in the automotive steering system.
Steer by Wire (SbW) technology provides various benefits for the safety and performance of the vehicle. The SbW technology replaces the mechanical steering connection between wheel in hands and wheel on the roads by electronics, algorithms, and actuators. It offers precise and quicker steering response and also acts as a vibration restraint by keeping vibrations of the roads away from the driver.
The automotive steering system market refers to the industry that produces and distributes components and systems used to control the direction of vehicles. These systems are essential for safe and efficient driving, enabling drivers to maneuver their vehicles with precision.
The global automotive steering system market size was valued at USD 17.10 billion in 2018 and projected to reach USD 66.62 billion in 2032, exhibiting a CAGR of 12.0% during the forecast period.

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Market trends and drivers:
Increasing demand for electric vehicles: The growing popularity of electric vehicles is driving demand for electric power steering systems.
Advancements in autonomous driving technology: The development of autonomous driving technology is creating opportunities for new steering system technologies, such as steer-by-wire systems.
Focus on safety and comfort: The automotive industry is increasingly focused on improving vehicle safety and comfort, which is driving demand for advanced steering systems.
Stringent emissions regulations: The need to comply with stringent emissions regulations is driving the development of more efficient steering systems.

Technological Trends:
Steer-by-Wire: A newer technology that eliminates mechanical linkages between the steering wheel and wheels, relying instead on electronic controls. This system is key for autonomous vehicles and is seen as the future of steering technology.
ADAS Integration: Advanced driver-assistance systems that provide safety features such as lane-keeping assistance, often relying on electronic power steering systems.

Key components of automotive steering systems include:
Steering wheel: The primary input device used by the driver to control the direction of the vehicle.
Steering column: A structural component that connects the steering wheel to the steering gear.
Steering gear: The mechanism that converts the rotational motion of the steering wheel into linear motion to turn the wheels.
Steering linkage: A series of rods and joints that transmit the steering motion from the steering gear to the wheels.
Tie rods: The rods that connect the steering gear to the steering knuckles.
Steering knuckles: The parts that connect the tie rods to the wheels.
Steering wheel bearings: Bearings that allow the steering wheel to rotate smoothly.
Steering column bearings: Bearings that allow the steering column to rotate smoothly.
Steering dampers: Components that help to absorb vibrations and shocks transmitted to the steering wheel.

Types of steering systems:
Rack and pinion steering: A common type of steering system that uses a rack and pinion gear to convert rotational motion into linear motion.
Recirculating ball steering: A type of steering system that uses a recirculating ball mechanism to reduce friction and improve steering feel.
Power steering: A system that uses hydraulic or electric power to assist the driver in turning the steering wheel.
Electric power steering (EPS): A type of power steering system that uses electric motors to assist the driver.
Steer-by-wire: A system that uses electronic controls to connect the steering wheel to the wheels, eliminating mechanical linkages.

Major Automotive Steering System Market Manufacturers covered in the market report include:
Hyundai Mobis CO., Ltd
JTEKT Corporation
Mitsubishi Electric Corporation
NSK Ltd
Nexteer Automotive Group Limited
Showa Corporation
Thyssenkrupp AG

Regions Included in this Automotive Steering System Market Report are as follows:
North America [U.S., Canada, Mexico]
Europe [Germany, UK, France, Italy, Rest of Europe]
Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]
South America [Brazil, Argentina, Rest of Latin America]
Middle East & Africa [GCC, North Africa, South Africa, Rest of the Middle East and Africa]

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Market Outlook:
The automotive steering system market is expected to grow significantly in the coming years, driven by the rising demand for electric and autonomous vehicles, advancements in ADAS technologies, and a shift towards more efficient steering systems such as electric power steering.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:
𝐅𝐨𝐫𝐭𝐮𝐧𝐞 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬™ 𝐏𝐯𝐭. 𝐋𝐭𝐝.
𝟗𝐭𝐡 𝐅𝐥𝐨𝐨𝐫, 𝐈𝐜𝐨𝐧 𝐓𝐨𝐰𝐞𝐫,
𝐁𝐚𝐧𝐞𝐫, 𝐏𝐮𝐧𝐞-𝟒𝟏𝟏𝟎𝟒𝟓,
𝐌𝐚𝐡𝐚𝐫𝐚𝐬𝐡𝐭𝐫𝐚, 𝐈𝐧𝐝𝐢𝐚.

𝐏𝐡𝐨𝐧𝐞:
𝐔.𝐒.: 𝐔𝐒 +𝟏 𝟖𝟑𝟑 𝟗𝟎𝟗 𝟐𝟗𝟔𝟔 (𝐓𝐨𝐥𝐥 𝐅𝐫𝐞𝐞)
𝐔𝐊 +𝟒𝟒 𝟖𝟎𝟖 𝟓𝟎𝟐 𝟎𝟐𝟖𝟎 (𝐓𝐨𝐥𝐥 𝐅𝐫𝐞𝐞)
𝐀𝐏𝐀𝐂 +𝟗𝟏 𝟕𝟒𝟒 𝟕𝟒𝟎 𝟏𝟐𝟒𝟓
𝐄𝐦𝐚𝐢𝐥: 𝐬𝐚𝐥𝐞𝐬@𝐟𝐨𝐫𝐭𝐮𝐧𝐞𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬.𝐜𝐨𝐦

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
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