The Automobile steering systems market is expected to grow at a significant CAGR in the period from 2021 to 2027. Several countries across the world have enacted strict car pollution and fuel economy requirements. Fleet-level rules have been imposed by regulatory agencies such as the National Highway Traffic and Safety Administration (NHTSA) in the United States, the International Council on Clean Transportation (ICCT) in Europe, and other organisations. These laws establish an average emission level that automobile manufacturers must adhere to. These rules have forced automakers to invest more in fuel-efficient steering systems like electric power steering.
When compared to typical hydraulic steering systems, electrically assisted power steering systems are lower in weight and have a simpler construction. Furthermore, because there are no fuels involved, they are also easier to maintain for automobile owners. According to the US Department of Energy (DOE), in ideal conditions, EPS systems may improve fuel efficiency by 2% to 4%, cut fuel consumption by up to 6%, and reduce CO2 emissions by 8 grammes per kilometre. According to estimates, EPS systems have saved over 3 billion gallons of gas since 1999. (Source: Nexteer Automotive). Unlike hydraulic systems, which pump fluid continuously while the engine is running, these systems only utilise power when the wheels are spun.
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A full report of Global Automobile steering systems Market is available at: https://www.orionmarketreports.com/automobile-steering-systems-market/40810/
The following Segmentation are covered in this report
By Component
- Hydraulic pump
- Steering column
- Steering wheel speed sensor
- Electric motor
By Technology
- Electric power steering (EPS),
- Electrically assisted hydraulic power steering (EHPS)
- Hydraulic power steering (HPS)
By Type
- Column-EPS (C-EPS)
- Pinion-EPS (P-EPS)
- Rack-EPS (R-EPS)
By Pinion-Type
- Single
- Dual
By Mechanism
- Collapsible EPS
- Rigid EPS
By Component
- Hydraulic pump
- Steering column
- Electric motor
By Vehicle Type
- Passenger car (PC)
- Light commercial vehicle (LCV)
- Heavy commercial vehicle (HCV)
By Region
North America:
- US
- Canada
Europe:
- France
- Italy
- Germany
- UK
- Rest of Europe
Asia Pacific:
- India
- China
- Japan
- Australia
- Rest of APAC
The report covers the following objectives:
- Proliferation and maturation of trade in the global Automobile steering systems Market.
- The market share of the global Automobile steering systems Market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the global Automobile steering systems Market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the global Automobile steering systems Market.
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
