Global Automotive Steering System Market By Vehicle Type (Passenger Vehicle, Commercial Vehicle (Light Commercial Vehicles, and Heavy Commercial Vehicles)), By Type (Electronic Power Steering, Hydraulic Power Steering, and Electro Hydraulic Power Steering) By Region - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2027
Global Automotive Steering System Market 
Global Automotive Steering System Market was valued at US$ 30,966.00 Mn in 2021, estimated to reach US$ 40,752.00 Mn in 2027, with a CAGR of 4.18%.
Automotive steering system is defined as set of components used to control the direction of vehicle motion & help driver maneuver the vehicle as per the requirement. This system is considered as non-replaceable in automobiles & it is responsible for effective control on vehicles making.  
Market Drivers
The global market for automotive steering systems is primarily driven by the increase in demand for automobiles on a global scale. Market companies are concentrating on raising the number of fuel-efficient cars being produced for easy mobility. This has fueled the expansion of companies involved in the worldwide automobile steering systems market. Rising automotive vehicle sales are mostly attributed to rising disposable income. During the anticipated period, the market for automotive steering systems is anticipated to grow as demand for vehicles with safety and comfortable features increases. The increase of web-based sales channels is made possible by technological developments, and this has led to more bookings being made through online channels.
There are strict regulations governing vehicle emissions and fuel efficiency in several nations across the world. Automobile manufacturers are obligated to adhere to the average emission cap defined by these guidelines. These regulations have forced car steering manufacturers to increase their investment in fuel-efficient steering technology like electronic power steering.
Market Restraints
A breakdown in the steering system can be tolerated by a number of automobiles equipped with electric power steering. Electric power steering (EPS) malfunctions when the steering wheel disengages from or is impacted by the electric motor. The majority of the time, it has been caused by a number of electrical failures, including the driver's failure to execute additional steering sweating, the failure of steering control modules, and necklace detector blights. These are a few elements that could cause mishaps and have an impact on the market. 
Furthermore, there are a number of important variables that serve as market restraints and will continue to impose pressure on automotive steering systems, including the poor penetration of power steering in low segment vehicles and the rising cost of the power steering system.
Market Segmentation
The Global Automotive Steering System Market is segmented into vehicle type such as Passenger Vehicle, Commercial Vehicle (Light Commercial Vehicles, and Heavy Commercial Vehicles). Further, market is segmented into type such as Electronic Power Steering, Hydraulic Power Steering, and Electro Hydraulic Power Steering.
Regional Analysis
The Global Automotive Steering System Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.
The market in Asia Pacific is projected to dominate the Automotive Steering System market due to the increasing sales & production of automakers from developing countries.  Europe is expected to expand at a significant growth rate over the forecast period of 2022 to 2027 and to have significant market expansion over the projection period.
Key Developments
In October 2021, Hyundai Mobis developed a foldable steering system technology that enables a steering wheel to be folded and unfolded. This technology is being identified as a cutting-edge invention that is suitable for future mobility vehicles since it can increase interior space and lead to new design.
In May 2022, Nexteer Automotive Group Limited, Continental Automotive, and CNXMotion added two new software functions to their Brake-to-Steer (BtS) technology in order to provide backup safety layers for all Electric Power Steering (EPS) and Steer-by-Wire (SbW) system variations and across all SAE levels of driving automation.
Key Players
China Automotive Systems, Inc, Hyundai Mobis Co., Ltd., JTEKT Corporation, Mando Corporation, Mitsubishi Electric Corporation, Nexteer Automotive Group Limited, NSK Ltd., Robert Bosch GmbH, Showa Corporation, Thyssenkrupp AG, etc.
Market Taxonomy
By Vehicle Type
•        Passenger Vehicle
•        Commercial Vehicle
o        Light Commercial Vehicles
o        Heavy Commercial Vehicles
By Type
•        Electronic Power Steering
•        Hydraulic Power Steering
•        Electro Hydraulic Power Steering
By Region
•        North America
•        Latin America
•        Europe
•        Asia Pacific
•        Middle East & Africa
 

Global Automotive Steering System Market 
1 Introduction        
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Automotive Steering System Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Automotive Steering System Market, By Vehicle Type
5.1 Y-o-Y Growth Comparison, By Vehicle Type
5.2 Global Automotive Steering System Market Share Analysis, By Vehicle Type 
5.3 Global Automotive Steering System Market Size and Forecast, By Vehicle Type
5.3.1. Passenger Vehicle
5.3.2. Commercial Vehicle
•        Light Commercial Vehicles
•        Heavy Commercial Vehicles
6 Global Automotive Steering System Market, By Type
6.1 Y-o-Y Growth Comparison, By Type
6.2 Global Automotive Steering System Market Share Analysis, By Type
6.3 Global Automotive Steering System Market Size and Forecast, By Type
6.3.1 Electronic Power Steering
6.3.2. Hydraulic Power Steering
6.3.3. Electro Hydraulic Power Steering
7 Global Automotive Steering System Market, By Region
7.1 Global Automotive Steering System Market Share Analysis, By Region
7.2 Global Automotive Steering System Market Share Analysis, By Region
7.3 Global Automotive Steering System Market Size and Forecast, By Region
8 North America Automotive Steering System Market Analysis and Forecast (2022-2027)
8.1 Introduction
8.2 North America Automotive Steering System Market Share Analysis, By Vehicle Type
8.3 North America Automotive Steering System Market Size and Forecast, By Type
8.5 North America Automotive Steering System Market Size and Forecast, By Country
8.5.1 U.S.
8.5.2 Canada
8.5.3 Mexico
9 Europe Automotive Steering System Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 Europe Automotive Steering System Market Share Analysis, By Vehicle Type
9.3 Europe Automotive Steering System Market Size and Forecast, By Type
9.5 Europe Automotive Steering System Market Size and Forecast, By Country
9.5.1 Germany
9.5.2 France
9.5.3 UK
9.54. Rest of Europe
10 Asia Pacific Automotive Steering System Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Asia Pacific Automotive Steering System Market Share Analysis, By Vehicle Type 
10.3 Asia Pacific Automotive Steering System Market Size and Forecast, By Type
10.5 Asia Pacific Automotive Steering System Market Size and Forecast, By Country
10.5.1 China        
10.5.2 Japan
10.5.3 India
10.5.4. Rest of Asia Pacific
11 Latin America Automotive Steering System Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Latin America Automotive Steering System Market Share Analysis, By Vehicle Type
11.3 Latin America Automotive Steering System Market Size and Forecast, By Type
11.5 Latin America Automotive Steering System Market Size and Forecast, Country
11.5.1. Brazil
11.5.2. Rest of Latin America
12 Middle East Automotive Steering System Market Analysis and Forecast (2022-2027)
12.1 Introduction
 12.2 Middle East Automotive Steering System Market Share Analysis, By Vehicle Type
12.3 Middle East Automotive Steering System Market Size and Forecast, By Type
12.5 Middle East Automotive Steering System Market Size and Forecast, By Country
12.65.1. Saudi Arabia
12.5.2. UAE
12.5.3. Egypt
15.5.4. Kuwait
12.5.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14Company Profiles
14.1 China Automotive Systems, Inc
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2. Hyundai Mobis Co., Ltd
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3. JTEKT Corporation
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Mando Corporation
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Mitsubishi Electric Corporation
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Nexteer Automotive Group Limited
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 NSK Ltd
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies        
14.8 Robert Bosch GmbH
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Showa Corporation
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 Thyssenkrupp AG
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies