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Power Assisted Steering Market Share

  • Report ID: GMI5036
  • Published Date: Apr 2021
  • Report Format: PDF
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Power Assisted Steering Market Share

The market is consolidated with the top ten companies holding more than half of the global industry. Top market participants are involved in partnerships with automotive manufacturers to have a competitive edge over other competitors; for instance, the Nexteer Automotive steering systems are installed by Maruti Suzuki India Limited, General Motors, Ford Motor Company (Ford), Fiat Chrysler Automobiles N.V. (FCA), and Company Dongfeng Peugeot Citroën Automobile Co., Ltd. (DPCA). With the increasing demand for power assisted steering, many manufacturers are investing in steer by wire technologies to have an advantage in the ADAS and autonomous vehicle market.
 

Some of the key manufacturers of the industry are

  • JTEKT Corporation
  • SHOWA Corporation
  • Nexteer Automotive
  • NSK Steering Systems Co., Ltd.
  • Mando Corp
  • ZF Friedrichshafen AG
  • Robert Bosch GmbH

Some of the main strategies implemented by industry leaders are new product development and expansion of production facilities.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

Power assisted steering industry size reached USD 14.89 billion in 2020 and will record a healthy 4.6% CAGR through 2027.

The electrical vehicle segment is likely to expand at a CAGR of around 5.3% up to 2027 with widespread EV adoption worldwide.

The passenger cars segment captured a revenue share worth USD 10 billion in 2020 and will grow, led by growing EPS adoption in compact and sedan cars.

The OEM segment dominated power assisted steering industry trends in 2020 with over 95% revenue share and will exhibit similar trends through 2027.

Increasing automotive production in Asia Pacific will propel the region to capture more than 50% of the market share by 2027.

Power Assisted Steering Market Scope

  • Power Assisted Steering Market Size
  • Power Assisted Steering Market Analysis
  • Power Assisted Steering Market Share

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    Premium Report Details

    • Base Year: 2020
    • Companies covered: 11
    • Tables & Figures: 361
    • Countries covered: 21
    • Pages: 250
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