Global Automotive Steering Systems Market Size, Trends and Growth Opportunity, By Type (Hydraulic Power Steering, Electronic Power Steering, Electro-Hydraulic Power Steering System), By Vehicle Type (Passenger Vehicle and Commercial Vehicle), By Components (Hydraulic Pump, Steering Sensor, Column Electric Motor), By Technology (Electric Power Steering (EPS), Electrically Assisted Hydraulic Power Steering (EHPS), Hydraulic Power Steering (HPS)), By Pinion Type (Single, Dual), By Mechanism (Collapsible, Rigid), By Region and forecast till 2027.
Global Automotive Steering Systems Market
Global Automotive Steering Systems Market was valued at USD 35, 832.98 million in 2021 and is expected to reach at USD 48,815.99 million by 2027 at a CAGR of 4.26% from 2022-2027.
The steering pinion, a circular gear used in automotive steering systems, locks the teeth on a bar or a rack. Moreover, it transforms the large steering wheel rotations into small rotations, enabling precise steering wheel movements and a direct, firm sensation.
Market Drivers
From manual steering systems to power steering systems, which primarily rely on mechanical linkages like pinion and rack, the automotive sector has expanded. There are complexity and uncertainty on the manual steering system that relate to fuel efficiency and vehicle mobility. However, the mechanical and electronic elements of the power steering system assist in allowing for pleasant driving while also enhancing the car's performance. As a result, power steering technologies have a wide range of capabilities around the world. In consideration of this, an increase in power steering systems is credited with increasing demand for automotive steering systems and is anticipated to propel market expansion. Worldwide automobile emigration and rigorous energy-saving laws have been implemented by numerous governments. Line-position laws have been implemented by regulatory bodies such the National Highway Traffic and Safety Administration (NHTSA) in the United States and the International Council on Clean Transportation (ICCT) in Europe. The pollution level set forth in these laws is one that automakers must uphold. Thus, all of these variables control power steering systems that are supported electrically.
Currently, just a small percentage of large vehicles use electric power steering, which is far more common in light commercial vehicles and passenger vehicles. The use of EPS (Electric power steering) systems in both commercial and consumer vehicles provides enormous prospects for the market's growth rate in the years to come. As a result of technological advancements, EPS systems may have a greater load handling capability. 
Market Restraints
A malfunction in the steering system can be tolerated by a number of automobiles equipped with electric power steering. Electric power steering (EPS) faults when the steering wheel disengages from or is damaged 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 perspiration, the failure of steering control modules, and necklace detector blights. These are a few elements that could cause accidents and have an impact on the market. In addition, there are several other significant reasons that serve as market obstacles and will further challenge the automotive steering systems, such as the poor penetration of power steering in low segment vehicles and the increasing cost connected with the power steering system.
Impact of COVID-19
The automotive steering system, which is closely connected to the items for vehicles, is predicted to suffer from this pandemic. Numerous industries, including the automobile industry, may have difficulties as a result of the ongoing COVID-19 epidemic. However, it is envisaged that there will be significant demand in the upcoming years, which will help the market for automobile steering systems increase as well as consumer spending and corporate output performance.
Market Segmentation
Global Automotive Steering Systems Market is segmented into Type, Vehicle Type, Components, Technology, Pinion Type, and Mechanism. By Type such as Hydraulic Power Steering, Electronic Power Steering, Electro-Hydraulic Power Steering System. By Vehicle Type such as Passenger Vehicle and Commercial Vehicle. By Components such as Hydraulic Pump, Steering Sensor, Column Electric Motor. By Technology such as Electric Power Steering (EPS), Electrically Assisted Hydraulic Power Steering (EHPS), Hydraulic Power Steering (HPS). By Pinion Type such as Single, Dual. By Mechanism such as Collapsible, Rigid.
Regional Analysis
Global Automotive Steering Systems Market is segmented into five regions North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. In terms of market share and revenue, North America dominates the market for automobile steering systems. This is a result of the innovation of new technologies and the expansion of research and development in this area for the vehicle steering system. Due to the large number of automakers in this region, which has helped drive up the value of the global automobile steering column market, Asia-Pacific is anticipated to experience the quickest growth during the projected period.
Key Players
This report includes a list of numerous Key Players, namely Mando Corp. (South Korea), ZF Friedrichshafen AG (Germany), Robert Bosch GmbH (Germany), MAHLE GmbH (Germany), Hanon Systems (South Korea), Schaeffler AG (Germany), JTEKT Corporation. (Japan), thyssenkrupp AG (Germany), COBO (China), DENSO CORPORATION. (Japan).
Market Taxonomy 
By Type
•        Hydraulic Power Steering
•        Electronic Power Steering
•        Electro-Hydraulic Power Steering System
By Vehicle Type
•        Passenger Vehicle
•        Commercial Vehicle
By Components
•        Hydraulic Pump
•        Steering Sensor
•        Column Electric Motor
 By Technology
•        Electric power steering (EPS)
•        Electrically assisted hydraulic power steering (EHPS)
•        Hydraulic power steering (HPS)
By Pinion Type
•        Single
•        Dual
By Mechanism
•        Collapsible
•        Rigid
By Region
•        North America
•        Latin America
•        Europe
•        Asia Pacific
•        Middle East & Africa.

Global Automotive Steering Systems 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 Systems 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 Systems Market, By Type
5.1 Y-o-Y Growth Comparison, By Type 
5.2 Global Automotive Steering Systems Market Share Analysis, By Type 
5.3 Global Automotive Steering Systems Market Size and Forecast, By Type
5.3.1 Hydraulic Power Steering
5.3.2 Electronic Power Steering
5.3.3 Electro-Hydraulic Power Steering System
6 Global Automotive Steering Systems Market, By Vehicle Type
6.1 Y-o-Y Growth Comparison, By Vehicle Type
6.2 Global Automotive Steering Systems Market Share Analysis, By Vehicle Type
6.3 Global Automotive Steering Systems Market Size and Forecast, By Vehicle Type
6.3.1 Passenger Vehicle
6.3.2 Commercial Vehicle
7 Global Automotive Steering Systems Market, By Component
7.1 Y-o-Y Growth Comparison, By Component
7.2 Global Automotive Steering Systems Market Share Analysis, By Component
7.3 Global Automotive Steering Systems Market Size and Forecast, By Component
7.3.1 Hydraulic Pump
7.3.2 Steering Sensor
7.3.3 Column Electric Motor
8 Global Automotive Steering Systems Market, By Technology 
8.1 Y-O-Y Growth Comparison, By Technology
8.2 Global Automotive Steering Systems Market Share Analysis, By Technology
8.3 Global Automotive Steering Systems Market Size and Forecast, By Technology
8.3.1 Electric power steering (EPS)
8.3.2 Electrically assisted hydraulic power steering (EHPS)
8.3.3 Hydraulic power steering (HPS)
9 Global Automotive Steering Systems Market, By Pinion Type
9.1 Y-O-Y Growth Comparison, By Pinion Type
9.2 Global Automotive Steering Systems Market Share Analysis, By Pinion Type
9.3 Global Automotive Steering Systems Market Size and Forecast, By Pinion Type
9.3.1 Single
9.3.2 Dual
10 Global Automotive Steering Systems Market, By Mechanism
10.1 Y-O-Y Growth Comparison, By Mechanism
10.2 Global Automotive Steering Systems Market Share Analysis, By Mechanism
10.3 Global Automotive Steering Systems Market Size and Forecast, By Mechanism
10.3.1 Collapsible
10.3.2 Rigid
11 Global Automotive Steering Systems Market, By Region
11.1 Global Automotive Steering Systems Market Share Analysis, By Region
11.2 Global Automotive Steering Systems Market Share Analysis, By Region
11.3 Global Automotive Steering Systems Market Size and Forecast, By Region
12 North America Automotive Steering Systems Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 North America Automotive Steering Systems Market Share Analysis, By Type
12.3 North America Automotive Steering Systems Market Size and Forecast, By Vehicle Type
12.4 North America Automotive Steering Systems Market Size and Forecast, By Component
12.5 North America Automotive Steering Systems Market Size and Forecast, By Technology
12.6 North America Automotive Steering Systems Market Size and Forecast, By Pinion Type
12.7 North America Automotive Steering Systems Market Size and Forecast, By Mechanism
12.8 North America Automotive Steering Systems Market Size and Forecast, By Country
12.8.1 U.S.
12.8.2 Canada
12.8.3 Mexico
13 Europe Automotive Steering Systems Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Europe Automotive Steering Systems Market Share Analysis, By Type 
13.3 Europe Automotive Steering Systems Market Size and Forecast, By Vehicle Type 
13.4 Europe Automotive Steering Systems Market Size and Forecast, By Component
13.5 Europe Automotive Steering Systems Market Size and Forecast, By Technology
13.6 Europe Automotive Steering Systems Market Size and Forecast, By Pinion Type
13.7 Europe Automotive Steering Systems Market Size and Forecast, By Mechanism
13.8 Europe Automotive Steering Systems Market Size and Forecast, By Country
13.8.1 Germany
13.8.2 France
13.8.3 UK
13.8.4. Rest of Europe
14 Asia Pacific Automotive Steering Systems Market Analysis and Forecast (2022-2027)
14.1 Introduction
14.2 Asia Pacific Automotive Steering Systems Market Share Analysis, By Type 
14.3 Asia Pacific Automotive Steering Systems Market Size and Forecast, By Vehicle Type 
14.4 Asia Pacific Automotive Steering Systems Market Size and Forecast, By Component
14.5 Asia Pacific Automotive Steering Systems Market Size and Forecast, By Technology
14.6 Asia Pacific Automotive Steering Systems Market Size and Forecast, By Pinion Type
14.7 Asia Pacific Automotive Steering Systems Market Size and Forecast, By Mechanism
14.8 Asia Pacific Automotive Steering Systems Market Size and Forecast, By Country
14.8.1 China        
14.8.2 Japan
14.8.3 India
14.8.4. Rest of Asia Pacific
15 Latin America Automotive Steering Systems Market Analysis and Forecast (2022-2027)
15.1 Introduction
15.2 Latin America Automotive Steering Systems Market Share Analysis, By Type 
15.3 Latin America Automotive Steering Systems Market Size and Forecast, By Vehicle Type 
15.4 Latin America Automotive Steering Systems Market Size and Forecast, By Component
15.5 Latin America Automotive Steering Systems Market Size and Forecast, By Technology
15.6 Latin America Automotive Steering Systems Market Size and Forecast, By Pinion Type
15.7 Latin America Automotive Steering Systems Market Size and Forecast, By Mechanism
15.8 Latin America Automotive Steering Systems Market Size and Forecast, By Country
15.8.1. Brazil
15.8.2. Rest of Latin America
16 Middle East Automotive Steering Systems Market Analysis and Forecast (2022-2027)
16.1 Introduction
16.2 Middle East Automotive Steering Systems Market Share Analysis, By Type 
16.3 Middle East Automotive Steering Systems Market Size and Forecast, By Vehicle Type 
16.4 Middle East Automotive Steering Systems Market Size and Forecast, By Component
16.5 Middle East Automotive Steering Systems Market Size and Forecast, By Technology
16.6 Middle East Automotive Steering Systems Market Size and Forecast, By Pinion Type
16.7 Middle East Automotive Steering Systems Market Size and Forecast, By Mechanism
16.8 Middle East Automotive Steering Systems Market Size and Forecast, By Country
16.8.1. Saudi Arabia
16.8.2. UAE
16.8.3. Egypt
16.8.4. Kuwait
16.8.5. South Africa
17 Competitive Analysis
17.1 Competition Dashboard
17.2 Market share Analysis of Top Vendors
17.3 Key Development Strategies
18 Company Profiles
18.1 Mando Corp. 
18.1.1 Overview
18.1.2 Offerings
18.1.3 Key Financials
18.1.4 Business Segment & Geographic Overview
18.1.5 Key Market Developments
18.1.6 Key Strategies
18.2 ZF Friedrichshafen AG 
18.2.1 Overview
18.2.2 Offerings
18.2.3 Key Financials
18.2.4 Business Segment & Geographic Overview
18.2.5 Key Market Developments
18.2.6 Key Strategies
18.3 Robert Bosch GmbH 
18.3.1 Overview
18.3.2 Offerings
18.3.3 Key Financials
18.3.4 Business Segment & Geographic Overview
18.3.5 Key Market Developments
18.3.6 Key Strategies
18.4 MAHLE GmbH 
18.4.1 Overview
18.4.2 Offerings
18.4.3 Key Financials
18.4.4 Business Segment & Geographic Overview
18.4.5 Key Market Developments
18.4.6 Key Strategies
18.5 Hanon Systems 
18.5.1 Overview
18.5.2 Offerings
18.5.3 Key Financials
18.5.4 Business Segment & Geographic Overview
18.5.5 Key Market Developments
18.5.6 Key Strategies
18.6 Schaeffler AG 
18.6.1 Overview
18.6.2 Offerings
18.6.3 Key Financials
18.6.4 Business Segment & Geographic Overview
18.6.5 Key Market Developments
18.6.6 Key Strategies
18.7 JTEKT Corporation 
18.7.1 Overview
18.7.2 Offerings
18.7.3 Key Financials
18.7.4 Business Segment & Geographic Overview
18.7.5 Key Market Developments
18.7.6 Key Strategies        
18.8 thyssenkrupp AG 
18.8.1 Overview
18.8.2 Offerings
18.8.3 Key Financials
18.8.4 Business Segment & Geographic Overview
18.8.5 Key Market Developments
18.8.6 Key Strategies
18.9 COBO 
18.9.1 Overview
18.9.2 Offerings
18.9.3 Key Financials
18.9.4 Business Segment & Geographic Overview
18.9.5 Key Market Developments
18.9.6 Key Strategies
18.10 DENSO CORPORATION 
18.10.1 Overview
18.10.2 Offerings
18.10.3 Key Financials
18.10.4 Business Segment & Geographic Overview
18.10.5 Key Market Developments
18.10.6 Key Strategies