The global automated steering systems market is anticipated to grow at a CAGR of nearly 4.6% during the forecast period (2021-2027). The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. The recent development in autonomous technologies has also broadened the market for future growth.
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For instance, in June 2021, China Automotive Systems, Inc., a power steering components and systems supplier in China, announced that its subsidiary, Hubei Henglong Automotive Systems Group Co. Ltd., purchased 40% interest in the issued share capital of a Swedish automotive technology company, Sentiment AB. The company is specialized in software development and hardware design which would help China Automotive Systems in the advanced steering functions, vehicles motion control and autonomous driving. Sentient’s motion control technology has been tested and demonstrated on electric power steering (EPS), steer-by-wire, angle-overlay systems, and fully autonomous vehicles; National Highway Traffic Safety Administration (NHTSA) level 3 to level 5.
Market Coverage
· The market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
· Segment Covered
· Regions Covered- Globally
Competitive Landscape- China Automotive Systems Inc., JTEKT Corporation, Nexteer Automotive, Mando Corporation, and ThyssenKrupp Presta AG, among others.
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Global Crude Steel Market Report Segment
By Technology
• Hydraulic Power Steering
• Electronic Power Steering
• Electro-Hydraulic Power Steering
By Mechanism
• Collapsible
• Rigid
By End-Users
• Passenger Vehicles
• Commercial Vehicles
Global Automotive Steering Systems Market Report Segment by Region
North America
· United States
· Canada
Europe
· UK
· Germany
· Spain
· France
· Italy
· Rest of Europe
Asia-Pacific
· India
· China
· Japan
· South Korea
· Rest of APAC
Rest of the World
Company Profiles
· D&L Technologies
· Delphi Technologies
· GKN
· Greased Lightning
· Hitachi Astemo
· Hyundai Mobis Co. Ltd.
· Invasion Automotive Products
· Kevin Cook Foundation Inc.
· Kotec America Inc.
· Maclube Oil, Co.
· Mitsubishi Electric Corp.
· NSK Ltd.
· Overnight Same-Day Transport LLC
· Robert Bosch Automotive Steering GmbH
· Showa Corp.
· SIC Autoparts, LLC
· Sona Koyo Steering Systems Ltd.
· Tenneco
· Wire Cloth Filter Manufacturing Co.
· ZF Friedrichshafen AG
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