Automotive Power Steering Systems Market Insights, Global Outlook and Forecast 2022-2028
Automotive Power Steering Systems Market Insights, Global Outlook and Forecast 2022-2028
The Automotive Power Steering Systems Market report highlights technological advancements, investment opportunities, and regulatory frameworks shaping the industry landscape through 2030.
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Automotive steering system is among the most integral parts installed automobile vehicles. Steering systems allows the driver to control and maneuver the vehicle in desired direction.
The latest research study released by Market IntelliX evaluates market size and forecasts of Automotive Power Steering Systems in Global, including the following market information:
Global Automotive Power Steering Systems Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Automotive Power Steering Systems market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Electronic Power Steering (EPS) Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Automotive Power Steering Systems include Robert Bosch Automotive Steering GmbH, Mitsubishi Electric Corporation, JTEKT Corporation, ThyssenKrupp Presta AG, Autoliv and Daimler AG, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MI has surveyed the Automotive Power Steering Systems companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Market Segmentations:
Global Automotive Power Steering Systems Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Automotive Power Steering Systems Market Segment Percentages, by Type, 2021 (%)
Electronic Power Steering (EPS)
Hydraulic Power Steering (HPS)
Electronic & Hydraulic Power Steering (EHPS)
Global Automotive Power Steering Systems Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Automotive Power Steering Systems Market Segment Percentages, by Application, 2021 (%)
Original Equipment Manufacturers (OEMS)
Aftermarket
Global Automotive Power Steering Systems Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Automotive Power Steering Systems Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Automotive Power Steering Systems revenues in global market, 2017-2022 (estimated), ($ millions)
Key companies Automotive Power Steering Systems revenues share in global market, 2021 (%)
The report presents profiles of competitors in the market, Some of the prominent key players covered:
Robert Bosch Automotive Steering GmbH
Mitsubishi Electric Corporation
JTEKT Corporation
ThyssenKrupp Presta AG
Autoliv
Daimler AG
Key Takeaways from this Report
Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
Analyze the sales and distribution channels across key geographies to improve top-line revenues.
Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
1 Introduction to Research & Analysis Reports
1.1 Automotive Power Steering Systems Market Definition
1.2 Market Segments
1.2.1 Market by Type
1.2.2 Market by Application
1.3 Global Automotive Power Steering Systems Market Overview
1.4 Features & Benefits of This Report
1.5 Methodology & Sources of Information
1.5.1 Research Methodology
1.5.2 Research Process
1.5.3 Base Year
1.5.4 Report Assumptions & Caveats
2 Global Automotive Power Steering Systems Overall Market Size
2.1 Global Automotive Power Steering Systems Market Size: 2021 VS 2028
2.2 Global Automotive Power Steering Systems Market Size, Prospects & Forecasts: 2017-2028
2.3 Key Market Trends, Opportunity, Drivers and Restraints
2.3.1 Market Opportunities & Trends
2.3.2 Market Drivers
2.3.3 Market Restraints
3 Company Landscape
3.1 Top Automotive Power Steering Systems Players in Global Market
3.2 Top Global Automotive Power Steering Systems Companies Ranked by Revenue
3.3 Global Automotive Power Steering Systems Revenue by Companies
3.4 Top 3 and Top 5 Automotive Power Steering Systems Companies in Global Market, by Revenue in 2021
3.5 Global Companies Automotive Power Steering Systems Product Type
3.6 Tier 1, Tier 2 and Tier 3 Automotive Power Steering Systems Players in Global Market
3.6.1 List of Global Tier 1 Automotive Power Steering Systems Companies
3.6.2 List of Global Tier 2 and Tier 3 Automotive Power Steering Systems Companies
4 Market Sights by Product
4.1 Overview
4.1.1 by Type - Global Automotive Power Steering Systems Market Size Markets, 2021 & 2028
4.1.2 Electronic Power Steering (EPS)
4.1.3 Hydraulic Power Steering (HPS)
4.1.4 Electronic & Hydraulic Power Steering (EHPS)
4.2 By Type - Global Automotive Power Steering Systems Revenue & Forecasts
4.2.1 By Type - Global Automotive Power Steering Systems Revenue, 2017-2022
4.2.2 By Type - Global Automotive Power Steering Systems Revenue, 2023-2028
4.2.3 By Type - Global Automotive Power Steering Systems Revenue Market Share, 2017-2028
5 Sights by Application
5.1 Overview
5.1.1 By Application - Global Automotive Power Steering Systems Market Size, 2021 & 2028
5.1.2 Original Equipment Manufacturers (OEMS)
5.1.3 Aftermarket
5.2 By Application - Global Automotive Power Steering Systems Revenue & Forecasts
5.2.1 By Application - Global Automotive Power Steering Systems Revenue, 2017-2022
5.2.2 By Application - Global Automotive Power Steering Systems Revenue, 2023-2028
5.2.3 By Application - Global Automotive Power Steering Systems Revenue Market Share, 2017-2028
6 Sights by Region
6.1 By Region - Global Automotive Power Steering Systems Market Size, 2021 & 2028
6.2 By Region - Global Automotive Power Steering Systems Revenue & Forecasts
6.2.1 By Region - Global Automotive Power Steering Systems Revenue, 2017-2022
6.2.2 By Region - Global Automotive Power Steering Systems Revenue, 2023-2028
6.2.3 By Region - Global Automotive Power Steering Systems Revenue Market Share, 2017-2028
6.3 North America
6.3.1 By Country - North America Automotive Power Steering Systems Revenue, 2017-2028
6.3.2 US Automotive Power Steering Systems Market Size, 2017-2028
6.3.3 Canada Automotive Power Steering Systems Market Size, 2017-2028
6.3.4 Mexico Automotive Power Steering Systems Market Size, 2017-2028
6.4 Europe
6.4.1 By Country - Europe Automotive Power Steering Systems Revenue, 2017-2028
6.4.2 Germany Automotive Power Steering Systems Market Size, 2017-2028
6.4.3 France Automotive Power Steering Systems Market Size, 2017-2028
6.4.4 U.K. Automotive Power Steering Systems Market Size, 2017-2028
6.4.5 Italy Automotive Power Steering Systems Market Size, 2017-2028
6.4.6 Russia Automotive Power Steering Systems Market Size, 2017-2028
6.4.7 Nordic Countries Automotive Power Steering Systems Market Size, 2017-2028
6.4.8 Benelux Automotive Power Steering Systems Market Size, 2017-2028
6.5 Asia
6.5.1 By Region - Asia Automotive Power Steering Systems Revenue, 2017-2028
6.5.2 China Automotive Power Steering Systems Market Size, 2017-2028
6.5.3 Japan Automotive Power Steering Systems Market Size, 2017-2028
6.5.4 South Korea Automotive Power Steering Systems Market Size, 2017-2028
6.5.5 Southeast Asia Automotive Power Steering Systems Market Size, 2017-2028
6.5.6 India Automotive Power Steering Systems Market Size, 2017-2028
6.6 South America
6.6.1 By Country - South America Automotive Power Steering Systems Revenue, 2017-2028
6.6.2 Brazil Automotive Power Steering Systems Market Size, 2017-2028
6.6.3 Argentina Automotive Power Steering Systems Market Size, 2017-2028
6.7 Middle East & Africa
6.7.1 By Country - Middle East & Africa Automotive Power Steering Systems Revenue, 2017-2028
6.7.2 Turkey Automotive Power Steering Systems Market Size, 2017-2028
6.7.3 Israel Automotive Power Steering Systems Market Size, 2017-2028
6.7.4 Saudi Arabia Automotive Power Steering Systems Market Size, 2017-2028
6.7.5 UAE Automotive Power Steering Systems Market Size, 2017-2028
7 Players Profiles
7.1 Robert Bosch Automotive Steering GmbH
7.1.1 Robert Bosch Automotive Steering GmbH Corporate Summary
7.1.2 Robert Bosch Automotive Steering GmbH Business Overview
7.1.3 Robert Bosch Automotive Steering GmbH Automotive Power Steering Systems Major Product Offerings
7.1.4 Robert Bosch Automotive Steering GmbH Automotive Power Steering Systems Revenue in Global Market (2017-2022)
7.1.5 Robert Bosch Automotive Steering GmbH Key News
7.2 Mitsubishi Electric Corporation
7.2.1 Mitsubishi Electric Corporation Corporate Summary
7.2.2 Mitsubishi Electric Corporation Business Overview
7.2.3 Mitsubishi Electric Corporation Automotive Power Steering Systems Major Product Offerings
7.2.4 Mitsubishi Electric Corporation Automotive Power Steering Systems Revenue in Global Market (2017-2022)
7.2.5 Mitsubishi Electric Corporation Key News
7.3 JTEKT Corporation
7.3.1 JTEKT Corporation Corporate Summary
7.3.2 JTEKT Corporation Business Overview
7.3.3 JTEKT Corporation Automotive Power Steering Systems Major Product Offerings
7.3.4 JTEKT Corporation Automotive Power Steering Systems Revenue in Global Market (2017-2022)
7.3.5 JTEKT Corporation Key News
7.4 ThyssenKrupp Presta AG
7.4.1 ThyssenKrupp Presta AG Corporate Summary
7.4.2 ThyssenKrupp Presta AG Business Overview
7.4.3 ThyssenKrupp Presta AG Automotive Power Steering Systems Major Product Offerings
7.4.4 ThyssenKrupp Presta AG Automotive Power Steering Systems Revenue in Global Market (2017-2022)
7.4.5 ThyssenKrupp Presta AG Key News
7.5 Autoliv
7.5.1 Autoliv Corporate Summary
7.5.2 Autoliv Business Overview
7.5.3 Autoliv Automotive Power Steering Systems Major Product Offerings
7.5.4 Autoliv Automotive Power Steering Systems Revenue in Global Market (2017-2022)
7.5.5 Autoliv Key News
7.6 Daimler AG
7.6.1 Daimler AG Corporate Summary
7.6.2 Daimler AG Business Overview
7.6.3 Daimler AG Automotive Power Steering Systems Major Product Offerings
7.6.4 Daimler AG Automotive Power Steering Systems Revenue in Global Market (2017-2022)
7.6.5 Daimler AG Key News
8 Conclusion
9 Appendix
9.1 Note
9.2 Examples of Clients
9.3 Disclaimer
Research Methodology:
Automotive Power Steering Systems Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
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Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
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