Global Power Assisted Steering Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast 2024 to 2032

Description

List of Tables

The global demand for Power Assisted Steering Market is presumed to reach the market size of nearly USD 36.72 Billion by 2032 from USD 23.49 Billion in 2023 with a CAGR of 5.09% under the study period 2024-2032.

Power-assisted steering is an updated steering system where an electric motor is used to apply more force on the steering wheel so that the driver needs to put 25% to 30% less effort in order to turn the steering wheel. The motor rotates with electrical assistance, and the steering lock is picked up by electronic sensors, and a proportional amount of extra force is added with the steering input. Normally, the motor is positioned either at the bottom of the steering column or on top of the steering rack. It is used in sports cars and in passenger and light commercial vehicles. For consumers, fuel economy is its biggest advantage.

MARKET DYNAMICS

The key driving factors for power-assisted steering market growth are enhanced fuel efficiency, less CO2 emission, fewer moving parts, less complexity, and no fluid. Moreover, manufacturers of power-assisted steering are continuously improving their steering systems for better operational efficiency. Since the power-assisted steering system is light in weight, it reduces the overall weight of vehicles, thereby increasing the demand for such vehicles. Furthermore, an upsurge in vehicle production is also a major factor contributing to the power steering market. However, the high cost of a power-assisted steering system in comparison to a conventional steering system and less steering feel may hamper the growth of the power-assisted steering market.

The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Power Assisted Steering. The growth and trends of Power Assisted Steering industry provide a holistic approach to this study.

MARKET SEGMENTATION

This section of the Power Assisted Steering market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.

By Propulsion Type

By Vehicle

Passenger Cars
LCV
HCV

By Power

Electric
Hydraulic

By Type

Rack Type EPS
Column Type EPS
Pinion Type EPS
H-EPS
HPS

By Sales Channel

OEM
Aftermarket

REGIONAL ANALYSIS

This section covers the regional outlook, which accentuates current and future demand for the Power Assisted Steering market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.

The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Power Assisted Steering market include JTEKT Corporation, SHOWA Corporation, Nexteer Automotive, NSK Steering Systems Co. Ltd., Mando Corp, ZF Friedrichshafen AG, Robert Bosch Gmbh. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.

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Product Code: VMR11215194

1. PREFACE

1.1. Report Description
- 1.1.1 Objective
- 1.1.2 Target Audience
- 1.1.3 Unique Selling Proposition (USP) & offerings
1.2. Research Scope
1.3. Research Methodology
- 1.3.1 Market Research Process
- 1.3.2 Market Research Methodology

2. EXECUTIVE SUMMARY

2.1. Highlights of Market
2.2. Global Market Snapshot

3. POWER ASSISTED STEERING - INDUSTRY ANALYSIS

3.1. Introduction - Market Dynamics
3.2. Market Drivers
3.3. Market Restraints
3.4. Opportunities
3.5. Industry Trends
3.6. Porter's Five Force Analysis
3.7. Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Propulsion Type
- 3.7.2 Market Attractiveness Analysis By Vehicle
- 3.7.3 Market Attractiveness Analysis By Power
- 3.7.4 Market Attractiveness Analysis By Type
- 3.7.5 Market Attractiveness Analysis By Sales Channel
- 3.7.6 Market Attractiveness Analysis By Region

4. VALUE CHAIN ANALYSIS

4.1. Value Chain Analysis
4.2. Raw Material Analysis
- 4.2.1 List of Raw Materials
- 4.2.2 Raw Material Manufactures List
- 4.2.3 Price Trend of Key Raw Materials
4.3. List of Potential Buyers
4.4. Marketing Channel
- 4.4.1 Direct Marketing
- 4.4.2 Indirect Marketing
- 4.4.3 Marketing Channel Development Trend

5. GLOBAL POWER ASSISTED STEERING MARKET ANALYSIS BY PROPULSION TYPE

5.1. Overview By Propulsion Type
5.2. Historical and Forecast Data Analysis By Propulsion Type
5.3. EV Historic and Forecast Sales By Regions
5.4. ICE Historic and Forecast Sales By Regions

6. GLOBAL POWER ASSISTED STEERING MARKET ANALYSIS BY VEHICLE

6.1. Overview By Vehicle
6.2. Historical and Forecast Data Analysis By Vehicle
6.3. Passenger Cars Historic and Forecast Sales By Regions
6.4. LCV Historic and Forecast Sales By Regions
6.5. HCV Historic and Forecast Sales By Regions

7. GLOBAL POWER ASSISTED STEERING MARKET ANALYSIS BY POWER

7.1. Overview By Power
7.2. Historical and Forecast Data Analysis By Power
7.3. Electric Historic and Forecast Sales By Regions
7.4. Hydraulic Historic and Forecast Sales By Regions

8. GLOBAL POWER ASSISTED STEERING MARKET ANALYSIS BY TYPE

8.1. Overview By Type
8.2. Historical and Forecast Data Analysis By Type
8.3. Rack Type EPS Historic and Forecast Sales By Regions
8.4. Column Type EPS Historic and Forecast Sales By Regions
8.5. Pinion Type EPS Historic and Forecast Sales By Regions
8.6. H-EPS Historic and Forecast Sales By Regions
8.7. HPS Historic and Forecast Sales By Regions

9. GLOBAL POWER ASSISTED STEERING MARKET ANALYSIS BY SALES CHANNEL

9.1. Overview By Sales Channel
9.2. Historical and Forecast Data Analysis By Sales Channel
9.3. OEM Historic and Forecast Sales By Regions
9.4. Aftermarket Historic and Forecast Sales By Regions

10. GLOBAL POWER ASSISTED STEERING MARKET ANALYSIS BY GEOGRAPHY

10.1. Regional Outlook
10.2. Introduction
10.3. North America Sales Analysis
- 10.3.1 Overview, Historic and Forecast Data Sales Analysis
- 10.3.2 North America By Segment Sales Analysis
- 10.3.3 North America By Country Sales Analysis
- 10.3.4 United States Sales Analysis
- 10.3.5 Canada Sales Analysis
- 10.3.6 Mexico Sales Analysis
10.4. Europe Sales Analysis
- 10.4.1 Overview, Historic and Forecast Data Sales Analysis
- 10.4.2 Europe By Segment Sales Analysis
- 10.4.3 Europe By Country Sales Analysis
- 10.4.4 United Kingdom Sales Analysis
- 10.4.5 France Sales Analysis
- 10.4.6 Germany Sales Analysis
- 10.4.7 Italy Sales Analysis
- 10.4.8 Russia Sales Analysis
- 10.4.9 Rest Of Europe Sales Analysis
10.5. Asia Pacific Sales Analysis
- 10.5.1 Overview, Historic and Forecast Data Sales Analysis
- 10.5.2 Asia Pacific By Segment Sales Analysis
- 10.5.3 Asia Pacific By Country Sales Analysis
- 10.5.4 China Sales Analysis
- 10.5.5 India Sales Analysis
- 10.5.6 Japan Sales Analysis
- 10.5.7 South Korea Sales Analysis
- 10.5.8 Australia Sales Analysis
- 10.5.9 South East Asia Sales Analysis
- 10.5.10 Rest Of Asia Pacific Sales Analysis
10.6. Latin America Sales Analysis
- 10.6.1 Overview, Historic and Forecast Data Sales Analysis
- 10.6.2 Latin America By Segment Sales Analysis
- 10.6.3 Latin America By Country Sales Analysis
- 10.6.4 Brazil Sales Analysis
- 10.6.5 Argentina Sales Analysis
- 10.6.6 Peru Sales Analysis
- 10.6.7 Chile Sales Analysis
- 10.6.8 Rest of Latin America Sales Analysis
10.7. Middle East & Africa Sales Analysis
- 10.7.1 Overview, Historic and Forecast Data Sales Analysis
- 10.7.2 Middle East & Africa By Segment Sales Analysis
- 10.7.3 Middle East & Africa By Country Sales Analysis
- 10.7.4 Saudi Arabia Sales Analysis
- 10.7.5 UAE Sales Analysis
- 10.7.6 Israel Sales Analysis
- 10.7.7 South Africa Sales Analysis
- 10.7.8 Rest Of Middle East And Africa Sales Analysis

11. COMPETITIVE LANDSCAPE OF THE POWER ASSISTED STEERING COMPANIES

11.1. Power Assisted Steering Market Competition
11.2. Partnership/Collaboration/Agreement
11.3. Merger And Acquisitions
11.4. New Product Launch
11.5. Other Developments

12. COMPANY PROFILES OF POWER ASSISTED STEERING INDUSTRY

12.1. Top Companies Market Share Analysis
12.2. Market Concentration Rate
12.3. JTEKT Corporation
- 12.3.1 Company Overview
- 12.3.2 Company Revenue
- 12.3.3 Products
- 12.3.4 Recent Developments
12.4. SHOWA Corporation
- 12.4.1 Company Overview
- 12.4.2 Company Revenue
- 12.4.3 Products
- 12.4.4 Recent Developments
12.5. Nexteer Automotive
- 12.5.1 Company Overview
- 12.5.2 Company Revenue
- 12.5.3 Products
- 12.5.4 Recent Developments
12.6. NSK Steering Systems Co. Ltd.
- 12.6.1 Company Overview
- 12.6.2 Company Revenue
- 12.6.3 Products
- 12.6.4 Recent Developments
12.7. Mando Corp
- 12.7.1 Company Overview
- 12.7.2 Company Revenue
- 12.7.3 Products
- 12.7.4 Recent Developments
12.8. ZF Friedrichshafen AG
- 12.8.1 Company Overview
- 12.8.2 Company Revenue
- 12.8.3 Products
- 12.8.4 Recent Developments
12.9. Robert Bosch Gmbh
- 12.9.1 Company Overview
- 12.9.2 Company Revenue
- 12.9.3 Products
- 12.9.4 Recent Developments

Note - In company profiling, financial details and recent developments are subject to availability or might not be covered in the case of private companies