Automotive Steering Gearbox Market share is expected to increase by USD 2.06 billion from 2019 to 2024, and the market’s growth momentum will accelerate at a CAGR of 2%.
The steering system in an automobile aids the driver in manoeuvring the vehicle as needed by controlling the motion of the vehicle. The hand-operated steering wheel, steering column, universal joints, and rack & pinion gearset are all included in the automotive steering system. Since the steering system in cars cannot be replaced, it plays a crucial role in the efficient operation of the vehicle. The progression of the steering system from manual steering to power assist steering is a result of the growth of the automobile industry.
The hydraulic power steering, electronic power steering, and electro-hydraulic power steering systems are the three types of vehicle steering systems available in India. It is divided into commercial vehicles and passenger vehicles based on the type of vehicle. The commercial vehicles taken into consideration are light commercial vehicles, medium and heavy commercial vehicles, and heavy commercial vehicles. The research takes into account two sales channels: OEM and aftermarket. The steering wheel, steering column, steering coupler, steering gear, power steering hoses, and power steering pump are the different categories of components in the market.
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The study provides an up-to-date analysis of the present state of the worldwide market, the most recent trends and market-wide factors. The industry is fueled by escalating demand for vehicles with high torque and performance as well as strict pollution control laws. Additionally, it is projected that rising demand for vehicles with high torque and performance will accelerate market expansion.
Global Automotive Steering Gearbox Market: Major Players
Robert Bosch GmbH
thyssenkrupp AG
Melrose Industries Plc
ZF Friedrichshafen AG
Knorr-Bremse AG
Global Automotive Steering Gearbox Market: Types
Electric Power Steering Gearbox
Hydraulic Power Steering Gearbox
Global Automotive Steering Gearbox Market: Applications
Passenger Vehicles
Commercial Vehicles
By type, the India automotive steering system market is categorized into hydraulic power steering, electronic power steering, and electro-hydraulic power steering system. Depending on vehicle type, it is bifurcated into commercial vehicle and passenger vehicle. Light commercial vehicle, medium and heavy commercial vehicle, and heavy commercial vehicles are the commercial vehicles considered. OEM and aftermarket are the two sales channels considered in the report. As per component, the market is segregated into steering wheel, steering column, steering coupler, steering gear, power steering hoses, and power steering pump.
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Reasons to Purchase the Automotive Steering Gearbox Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
What are the Key Data Covered in this Automotive Steering Gearbox Market Report?
- Detailed information on factors that will drive market growth during the next five years
- Precise estimation of the market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behaviour
- The growth of the automotive steering gearbox industry across APAC, Europe, North America, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of market vendors
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