Automotive Dynamic Steering Market, By Type (Hydraulic Power Steering System, and Electric Power Steering System), By Applications (Passenger Cars, Commercial Vehicles, and Electric Vehicle), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2029

Automotive dynamic steering is especially a car safety technique where the steering ratio gets altered according to the speed of the vehicle. Dynamic steering is meant to support the electronic stability program (ESP) by increasing stability in order that the vehicle stabilizing process becomes more harmonious and effective. Basically, it’s a four-wheel steering mechanism where all four wheels turn at an equivalent time when the driving force steers. Dynamic steering provides stability at high speed which supports subsequent level safety by total control at low speeds and reduced strain on muscles. It also helps to avoid skidding and unintentional lane changes. Additionally, the driving force can set wheel preferences and may also operate through a foreign. The dynamic steering mechanism is predicated on a hydraulic power-assisted steering system or electrical power steering mechanism. The hydraulic power-assisted steering system is a type of power-assisted steering system that features a hydraulic ram to drive engine and hydraulic cylinders additionally to multiply the wheel input force, sequentially reducing the efforts which are required to steer the front wheels of the vehicle. Furthermore, the electrical power-assisted steering system is smaller and lighter in weight than hydraulic systems because it eliminates many components like pump, hoses, fluid, drive belt, and pulley. The EPS system is more energy-efficient than hydraulic systems because it doesn't require significant power when steering assistance isn't operational. The automotive dynamic steering market accounted for US$ 0.9 billion in 2020 and is estimated to be US$ 2.9 billion by 2029 and is anticipated to register a CAGR of 13.4.

Impact of Covid-19 pandemic on market

With the outbreak of the COVID-19, various businesses are at the forefront to combat this pandemic. The pandemic has hindered the industrial supply chain and also disrupted the product segment. Government across the countries has imposed strict lockdown to limit the spread of disease. Automotive companies are strategizing focus on R&D investments and CAPEX and planning targeted product portfolio in current COVID-19 pandemic conditions. Automotive OEMs, suppliers, financial institutions, and logistic companies faced truncation of demand, loss of consumer confidence, disruptions in supply chains among others. This report will quantify the impact of pandemic on automotive dynamic steering market.

Automotive market is observed for continuous growth as the market experiences continuous demand for vehicles. The developing countries such as India, China, and Brazil among others are the most demanding countries for the automotive sector. China, being the world’s largest market for vehicles, is expected to grow further over a few years as most OEMs are also making large investments in this sector. The increase in demand for vehicles in the automotive sector explicitly results in rising in demand for steering system as every automobile needs steering system to control vehicle direction. Also, the vehicle accident may lead to a change in steering system or its component which leads to an increase in demand for a steering system in the aftermarket. Hence, the increase in demand for the vehicle is anticipated to increase the demand for a steering system in the near future.

The automotive industry has developed from manual steering systems, which use only mechanical linkages like rack and pinion, to the power steering mechanism. The manual steering mechanism has limitations regarding maneuverability and fuel efficiency of the vehicle. However, the power steering mechanism has hydraulics and electronic components, which assist the driving and simultaneously improve the efficiency of the vehicle. Hence, the power steering mechanism has been widely accepted all across the world. The rise in adoption of power steering is liable for the rise in demand for the dynamic steering mechanism within the automotive industry.

However, high cost related to the power steering mechanism is predicted to inhibit the growth of the power steering mechanism market.

Automotive dynamic steering market is segmented based on type, application and region.

On the basis of type, the automotive dynamic steering market is segmented into hydraulic power steering system, and electric power steering system. Based on application the target market segmented into passenger cars, commercial vehicles, and electric vehicle.

On region the automotive dynamic steering market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The European region held the dominant market share in the automotive dynamic steering market due to the availability of enhanced transportation infrastructure. The advanced technology like dynamic steering response, active steering, and advanced driver assisted system (ADAS) have accelerated the market value. In addition, the strict vehicle safety norms imposed by the government in major counties of the region is further supporting the market growth.

Report Scope:

Attribute	Details
Base year for estimation	2020
Forecast period	2020 – 2029
Market representation	Revenue in USD Billion & CAGR from 2020 – 2029
Market Segmentation	By Type- Hydraulic Power Steering System, and Electric Power Steering System By Application- Passenger Cars, Commercial Vehicles, and Electric Vehicle
Delivery Mode Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the automotive dynamic steering market report based on type, application, and region.

Automotive Dynamic Steering Market, By Type:

• Hydraulic Power Steering System
• Electric Power Steering System

Automotive Dynamic Steering Market, By Application:

• Passenger Cars
• Commercial Vehicles
• Electric Vehicle

Automotive Dynamic Steering Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating in the automotive dynamic steering market includes China Automotive Systems Inc., JTEKT Corporation, Nexteer Automotive, Mando Corporation, ThyssenKrupp Presta AG, Robert Bosch Automotive Steering GmbH, Showa Corporation, NSK Ltd, Mitsubishi Electric Corporation, Sona Koyo Steering Systems Ltd., and Hyundai Mobis Co. Ltd. The market is especially characterized by collaborations and partnerships between the businesses and acquisitions of smaller players as a part of strategic expansion as well as launching their new product specimen. For instance, In June 2018, Infineon Technologies AG developed a new magnetic angle sensor, TLE5014. The new product can be easily integrated into an electric steering system. The TLE5014 sensors meet ISO26262 ASIL C for the single die and ISO26262 ASIL D for the dual die versions.

• JTEKT Corporation
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• China Automotive Systems Inc.
• Nexteer Automotive
• Mando Corporation
• ThyssenKrupp Presta AG
• Robert Bosch Automotive Steering GmbH
• Showa Corporation
• NSK Ltd
• Mitsubishi Electric Corporation
• Sona Koyo Steering Systems Ltd.
• Hyundai Mobis Co. Ltd.

1. Research Objective and Assumption
   • Preface
   • Research Objectives
   • Study Scope
   • Years Considered for the study
   • Assumptions
   • Abbreviations
2. Research Methodology
   • Research data
   • Primary Data
     • Primary Interviews
     • Primary Breakdown
     • Key data from Primary Sources
     • Key Thickness Insights
   • Secondary Data
     • Major Secondary Sources
     • Secondary Sources
   • Market Estimation
   • Top-Down Approach
     • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
   • Bottom-Up Approach
     • Approach for estimating market share by Bottom-up Analysis (Demand Side)
   • Market Breakdown and Data Triangulation
   • Research Assumptions
3. Market Preview
   • Executive Summary
   • Key Findings—Global Outlook for Automotive Dynamic Steering Strategies
     • Key Questions this Study will Answer
     • Market Snippet, By Type
     • Market Snippet, By Application
     • Market Snippet, By Region
   • Opportunity Map Analysis
   • Executive Summary—3 Big Predictions
4. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restraints
     • Market Opportunities
     • Market Trends
   • DR Impact Analysis
   • PEST Analysis
   • Porter’s Five Forces Analysis
   • Opportunity Orbit
   • Market Investment Feasibility Index
   • Macroeconomic Factor Analysis
5. Market Segmentation, By Type, 2019 – 2029, (US$ Mn)
   • Overview
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
     • Y-o-Y Growth Analysis (%), 2019 – 2029
     • Segment Trends
   • Hydraulic Power Steering System
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Electric Power Steering System
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
6. Market Segmentation, By Application, 2019 – 2029, (US$ Mn)
   • Overview
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
     • Y-o-Y Growth Analysis (%), 2019 – 2029
     • Segment Trends
   • Passenger Cars
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Commercial Vehicles
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Electric Vehicle
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
7. Global Market, By Region, 2019 – 2029, (US$ Mn)
   • Overview
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
     • Y-o-Y Growth Analysis (%), 2019 – 2029
     • Regional Trends
   • North America
     • Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
       • U.S.
       • Canada
   • Europe
     • Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
       • Germany
       • UK
       • France
       • Russia
       • Italy
       • Rest of Europe
   • Asia Pacific
     • Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
       • China
       • India
       • Japan
       • South Korea
       • Rest of Asia Pacific
   • Latin America
     • Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
       • Brazil
       • Mexico
       • Rest of Latin America
   • Middle East & Africa
     • Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
       • GCC
       • Israel
       • South Africa
       • Rest of Middle East
8. Competitive Landscape
   • Heat Map Analysis
   • Market Presence and Specificity Analysis
9. Company Profiles
   •  
     • JTEKT Corporation
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
       • Business Strategies
     • China Automotive Systems Inc.
     • Nexteer Automotive
     • Mando Corporation
     • ThyssenKrupp Presta AG
     • Robert Bosch Automotive Steering GmbH
     • Showa Corporation
     • NSK Ltd
     • Mitsubishi Electric Corporation
     • Sona Koyo Steering Systems Ltd.
     • Hyundai Mobis Co. Ltd.
10. The Last Word
    • Future Impact
    • About Us
    • Contact