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ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET FORECAST 2021-2028

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ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET FORECAST 2021-2028

The Asia-Pacific automotive steering system market is predicted to develop with a CAGR of 5.77% during the forecasted period of 2021 to 2028. The market growth of the region is facilitated by the presence of several market leaders investing in electric mobility services, the rise in the road network development, and the availability of cost-competitive workforces as well as raw materials for the production of automotive steering systems.

ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET FORECAST 2021-2028

Asia-Pacific Automotive Steering System Market by Type (Electric Power Steering System, Hydraulic Power Steering System, Electro-hydraulic Power Steering System, Steer by Wire) Market by Vehicle Type (ICE, Electric Vehicles) by Geography

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The Asia-Pacific automotive steering system market is predicted to develop with a CAGR of 5.77% during the forecasted period of 2021 to 2028. The market growth of the region is facilitated by the presence of several market leaders investing in electric mobility services, the rise in the road network development, and the availability of cost-competitive workforces as well as raw materials for the production of automotive steering systems.

asia-pacific-automotive-steering-system-market

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The Asia-Pacific automotive steering system market growth evaluation comprises the detailed analysis of Japan, Indonesia, South Korea, Thailand, Vietnam, India, China, and Rest of Asia-Pacific. China continues to be the largest vehicle market across the globe in terms of annual sales as well as production output. Besides, by 2025, the country’s domestic manufacturing is anticipated to reach 35 million vehicles. With significant growth in the Chinese economy, the disposable income of middle-class consumers is increasing, as well. This factor, in turn, positively reflects on the augmenting demand for vehicles in China.

Japan’s automotive sector is the third-largest automobile manufacturing industry worldwide, with 78 factories in 22 prefectures, employing more than 5.5 million people. Moreover, the country’s automotive sector is also an integral part of its economy. As a technology-driven and highly innovative industry, increased production of electric and hybrid vehicles is being introduced into the domestic and global markets. Furthermore, Japan is also witnessing an increase in demand and supply on an international scale. As a result, these factors are anticipated to propel the Asia-Pacific automotive steering system market growth over the forecast years.

China Automotive Systems Inc is a leading distributor of power steering systems and components to China’s automotive industry. With over two decades of experience in power steering manufacturing, the company operates through eight subsidiaries. China Automotive Systems Inc is headquartered in the province of Hubei, the People´s Republic of China.

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • MARKET OVERVIEW
    3. MARKET DYNAMICS
      • KEY DRIVERS
        • RAPID RISE IN PRODUCTION OF AUTOMOBILES
        • DEMAND FOR MORE FUNCTIONS IN ELECTRONIC CONTROL UNIT (ECU)
        • RIGOROUS FUEL EFFICIENCY NORMS
      • KEY RESTRAINTS
        • EMERGENCE OF AUTONOMOUS FEATURES IN CARS
        • RISING COSTS OF AUTOMOTIVE
    1. KEY ANALYTICS
      • IMPACT OF COVID-19 ON AUTOMOTIVE STEERING SYSTEM MARKET
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VENDOR LANDSCAPE
      • KEY BUYING CRITERIA
        • FUEL CONSUMPTION
        • CO2 EMISSION
        • MAINTENANCE
    1. MARKET BY TYPE
      • ELECTRIC POWER STEERING SYSTEM
        • ELECTRIC POWER STEERING SYSTEM BY TYPE
          • COLUMN ASSIST TYPE (C-EPS)
          • PINION ASSIST TYPE (P-EPS)
          • DIRECT DRIVE TYPE (D-EPS)
          • RACK ASSIST TYPE (R-EPS)
        • ELECTRIC POWER STEERING SYSTEM BY COMPONENTS
          • STEERING RACK/COLUMN
          • SENSOR
          • STEERING MOTOR
          • OTHER COMPONENT TYPES
        • HYDRAULIC POWER STEERING SYSTEM
        • ELECTRO-HYDRAULIC POWER STEERING SYSTEM
        • STEER BY WIRE
    1. MARKET BY VEHICLE TYPE
      • ICE
      • ELECTRIC VEHICLES
        • PHEV (PLUG-IN HYBRID ELECTRIC VEHICLE)
        • BEV (BATTERY ELECTRIC VEHICLE)
        • FCEV (FUEL CELL ELECTRIC VEHICLE)
        • HEV (HYBRID ELECTRIC VEHICLE)
    1. GEOGRAPHICAL ANALYSIS
      • ASIA-PACIFIC
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • CHINA
          • JAPAN
          • INDIA
          • SOUTH KOREA
          • INDONESIA
          • THAILAND
          • VIETNAM
          • REST OF ASIA-PACIFIC
    1. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
        • BUSINESS EXPANSIONS & DIVESTITURES
      • COMPANY PROFILES
        • CHINA AUTOMOTIVE SYSTEMS INC
        • DENSO CORPORATION
        • HITACHI ASTEMO LTD
        • HONDA MOTOR CO LTD
        • HYUNDAI MOBIS CO LTD
        • JTEKT CORPORATION
        • MANDO CORPORATION
        • MITSUBISHI ELECTRIC CORPORATION
        • NEXTEER AUTOMOTIVE CORPORATION
        • NSK LTD
        • ROBERT BOSCH GMBH
        • THYSSENKRUPP AG
        • ZF FRIEDRICHSHAFEN AG

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – AUTOMOTIVE STEERING SYSTEM

    TABLE 2: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY TYPE, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 3: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY TYPE, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 4: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY TYPE OF ELECTRIC POWER STEERING SYSTEM, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 5: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY TYPE OF ELECTRIC POWER STEERING SYSTEM, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 6: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY COMPONENTS OF ELECTRIC POWER STEERING SYSTEM, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 7: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY COMPONENTS OF ELECTRIC POWER STEERING SYSTEM, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 8: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

    TABLE 9: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

    TABLE 10: LEADING PLAYERS OPERATING IN ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET

    TABLE 11: CHINA PRODUCTION AND SALES OF AUTOMOTIVE (2016-2020)

    TABLE 12: JAPAN PRODUCTION AND SALES OF AUTOMOTIVE (2016-2020)

    TABLE 13: INDIA PRODUCTION AND SALES OF AUTOMOTIVE (2016-2020)

    TABLE 14: SOUTH KOREA PRODUCTION AND SALES OF AUTOMOTIVE (2016-2020)

    TABLE 15: INDONESIA PRODUCTION AND SALES OF AUTOMOTIVE (2016-2020)

    TABLE 16: THAILAND PRODUCTION AND SALES OF AUTOMOTIVE (2016-2020)

    TABLE 17: VIETNAM PRODUCTION AND SALES OF AUTOMOTIVE (2016-2020)

    TABLE 18: MALAYSIA PRODUCTION AND SALES OF AUTOMOTIVE (2016-2020)

    TABLE 19: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

    TABLE 20: LIST OF PARTNERSHIPS & AGREEMENTS

    TABLE 21: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

    LIST OF FIGURES

    FIGURE 1: PRODUCTION OF AUTOMOBILES (2016-2020)

    FIGURE 2: KEY MARKET TRENDS

    FIGURE 3: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 4: OPPORTUNITY MATRIX

    FIGURE 5: VENDOR LANDSCAPE

    FIGURE 6: KEY BUYING CRITERIA

    FIGURE 7: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, GROWTH POTENTIAL, BY TYPE, IN 2020

    FIGURE 8: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY ELECTRIC POWER STEERING SYSTEM, 2021-2028 (IN $ MILLION)

    FIGURE 9: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, GROWTH POTENTIAL, BY TYPE OF ELECTRIC POWER STEERING SYSTEM, IN 2020

    FIGURE 10: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY COLUMN ASSIST TYPE (C-EPS), 2021-2028 (IN $ MILLION)

    FIGURE 11: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY PINION ASSIST TYPE (P-EPS), 2021-2028 (IN $ MILLION)

    FIGURE 12: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY DIRECT DRIVE TYPE (D-EPS), 2021-2028 (IN $ MILLION)

    FIGURE 13: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY RACK ASSIST TYPE (R-EPS), 2021-2028 (IN $ MILLION)

    FIGURE 14: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, GROWTH POTENTIAL, BY COMPONENTS OF ELECTRIC POWER STEERING SYSTEM, IN 2020

    FIGURE 15: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY STEERING RACK/COLUMN, 2021-2028 (IN $ MILLION)

    FIGURE 16: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY SENSOR, 2021-2028 (IN $ MILLION)

    FIGURE 17: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY STEERING MOTOR, 2021-2028 (IN $ MILLION)

    FIGURE 18: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY OTHER COMPONENT TYPES, 2021-2028 (IN $ MILLION)

    FIGURE 19: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY HYDRAULIC POWER STEERING SYSTEM, 2021-2028 (IN $ MILLION)

    FIGURE 20: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY ELECTRO-HYDRAULIC POWER STEERING SYSTEM, 2021-2028 (IN $ MILLION)

    FIGURE 21: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, BY STEER BY WIRE, 2021-2028 (IN $ MILLION)

    FIGURE 22: ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, COUNTRY OUTLOOK, 2020 & 2028 (IN %)

    FIGURE 23: CHINA AUTOMOTIVE STEERING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 24: JAPAN AUTOMOTIVE STEERING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 25: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 26: SOUTH KOREA AUTOMOTIVE STEERING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 27: INDONESIA AUTOMOTIVE STEERING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 28: THAILAND AUTOMOTIVE STEERING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 29: VIETNAM AUTOMOTIVE STEERING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

    FIGURE 30: REST OF ASIA-PACIFIC AUTOMOTIVE STEERING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

    1. GEOGRAPHICAL ANALYSIS
      • ASIA-PACIFIC
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • CHINA
          • JAPAN
          • INDIA
          • SOUTH KOREA
          • INDONESIA
          • THAILAND
          • VIETNAM
          • REST OF ASIA-PACIFIC
    1. MARKET BY TYPE
      • ELECTRIC POWER STEERING SYSTEM
        • ELECTRIC POWER STEERING SYSTEM BY TYPE
          • COLUMN ASSIST TYPE (C-EPS)
          • PINION ASSIST TYPE (P-EPS)
          • DIRECT DRIVE TYPE (D-EPS)
          • RACK ASSIST TYPE (R-EPS)
        • ELECTRIC POWER STEERING SYSTEM BY COMPONENTS
          • STEERING RACK/COLUMN
          • SENSOR
          • STEERING MOTOR
          • OTHER COMPONENT TYPES
        • HYDRAULIC POWER STEERING SYSTEM
        • ELECTRO-HYDRAULIC POWER STEERING SYSTEM
        • STEER BY WIRE
    1. MARKET BY VEHICLE TYPE
      • ICE
      • ELECTRIC VEHICLES
        • PHEV (PLUG-IN HYBRID ELECTRIC VEHICLE)
        • BEV (BATTERY ELECTRIC VEHICLE)
        • FCEV (FUEL CELL ELECTRIC VEHICLE)
        • HEV (HYBRID ELECTRIC VEHICLE)

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