The steering system is in simpler words the most important line of communication between the vehicle and its driver. Ever since the inception of the motor vehicle, steering systems have been the main stay of the vehicle’s maneuverability and agility. In the era of active safety systems like ABS, ESP etc. steering system’s safety value has gone unnoticed but there’s no denying the fact that steering is one of the most crucial aspects of a vehicle’s safety. A vehicle with ABS, ESP or any of the safety features is just as likely to be involved in a mishap as one without these features if it is not steered in the proper direction.
Over the history of the automotive industry, steering systems have evolved from being a 100% physical effort involved system to being precise and effortless guidance systems. Modern day steering systems use various assistance systems to provide better feedback and agility to a vehicle. These systems use hydraulic, electric or electro-hydraulic components in conjunction with mechanical components of the steering system to provide the driver with an effortless steering and ease of maneuvering in tight situations.
This report describes the market for automotive steering systems in across the globe based on vehicle type (passenger cars; light commercial vehicles; heavy duty vehicles), type (manual; assisted), with safety features (With ABS/ESP; Without ABS/ESP); geography (Asia-Pacific; North-America; Europe; ROW). The assisted steering system segment further covers the market for hydraulically, electro-hydraulically, and electrically assisted steering systems. Apart from quantitative analysis of these markets, the report also covers qualitative aspects like market dynamics, porter’s five forces analysis etc.
The report features profiles of the top players in the automotive steering market covering their market presence; financial health; product offerings in the segment and further insights into their strategies and recent market developments associated with individual players.