Automotive Steering Gearbox Market Size, Share, Trends, Growth Outlook

The Automotive Steering Gearbox Market Size is estimated to register 7.9% growth over the forecast period from 2024 to 2030.

 

Automotive Steering Gearbox Market Overview

The relentless emphasis on vehicle safety and maneuverability are driving the market. As automotive manufacturers strive to enhance the overall driving experience, advanced steering gearboxes play a pivotal role in ensuring precise and responsive control, contributing to both safety and comfort on the road. Another driving force is the evolution of electric power steering (EPS) systems, which are gaining prominence due to their efficiency and environmental benefits. Additionally, the integration of advanced driver assistance systems (ADAS) and safety features into steering systems is on the rise, contributing to enhanced vehicle safety and paving the way for more sophisticated autonomous driving capabilities. Further, the increasing demand for fuel efficiency and reduced emissions has led to the integration of EPS in vehicles, driving the market for innovative steering gearbox solutions.

 

Automotive Steering Gearbox Market Dynamics

Market Trends- The Automotive Steering Gearbox Market is witnessing a significant trend with the widespread integration of Electric Power Steering (EPS) systems

The overarching goal of automakers to enhance vehicle performance, fuel efficiency, and responsiveness are driving the market. Automotive manufacturers are transitioning from traditional hydraulic steering systems to EPS for benefits such as improved fuel economy, enhanced driving comfort, and seamless integration with emerging technologies like autonomous driving. Further, EPS is enabling a seamless interface with advanced driver assistance systems (ADAS) and emerging trends in autonomous driving.

 

Market Driver- Lightweight and Compact Designs in the Automotive Steering Gearbox Market

Growing emphasis on lightweight construction to enhance fuel efficiency and minimize carbon footprints is the major factor. Further, Manufacturers are investing in advanced materials, such as high-strength alloys and composites, and employing innovative design approaches to achieve weight reduction without compromising structural integrity. Additionally, the demand for electric and hybrid vehicles is intensified, necessitating the adoption of compact steering gearbox designs to accommodate space-efficient configurations in these alternative powertrain platforms.

 

Market Opportunity- Steering Gearbox Market in the Era of Advanced Driver Assistance Systems (ADAS) and Autonomous Driving

The increasing integration of sophisticated steering systems to support the evolving landscape of autonomous and semi-autonomous vehicles are significantly propelling the market. Advanced steering systems are being designed to seamlessly integrate with ADAS functionalities, ensuring optimal performance in features such as lane-keeping assistance, automated parking, and collision avoidance. Further, Steering gearbox manufacturers are focusing on developing systems that not only meet the stringent safety standards associated with autonomous vehicles but also enhance the overall driving experience.

 

Market Share Analysis- Electric Power Steering will register the fastest growth

The Automotive Steering Gearbox Market is analyzed across Electric Power Steering, Hydraulic Power Steering and Electro-Hydraulic Power Steering. Electric Power Steering is poised to register the fastest growth. Unlike hydraulic power steering (HPS), which relies on a hydraulic pump driven by the engine, EPS replaces the hydraulic components with an electric motor. This transition brings several advantages that have positioned EPS as a prominent choice in modern vehicles. One key benefit of EPS is its impact on fuel efficiency. By eliminating the constant power drain from a hydraulic pump, EPS reduces the load on the engine, leading to improved fuel economy. This is particularly crucial in the automotive industry's pursuit of more environmentally sustainable and energy-efficient solutions. EPS also offers a more responsive and adaptable steering experience. The electric motor can be precisely controlled, allowing for variable levels of assistance based on driving conditions. This adaptability enhances vehicle maneuverability, especially at lower speeds where additional assistance is often required, such as during parking.

 

Market Share Analysis- Passenger cars held a significant market share in 2024

The Automotive Steering Gearbox Market is analyzed across various applications including Passenger cars and Commercial cars. Of these, Passenger cars held a significant market share in 2024. Steering gearboxes play a crucial role in passenger cars, contributing not only to the fundamental mechanics of steering but also to the overall driving experience, safety, and maneuverability. As consumer preferences continue to evolve, steering systems in passenger cars are experiencing advancements to meet the demands for precision, responsiveness, and comfort. In recent years, there has been a notable shift toward Electric Power Steering (EPS) systems in passenger cars. EPS offers advantages such as improved fuel efficiency, adaptability to varying driving conditions, and seamless integration with advanced driver assistance systems (ADAS). This aligns with the broader industry trend of enhancing vehicle efficiency while catering to the growing demand for smart and connected features in modern passenger cars. Moreover, as automotive manufacturers focus on designing vehicles that are not only fuel-efficient but also technologically advanced, steering gearboxes in passenger cars become integral components of the overall driving experience.

 

Automotive Steering Gearbox Market News

Nexteer Unveils Cutting-Edge Modular Column-Assist Electric Power Steering System.

 

Automotive Steering Gearbox Market Segmentation

By Type

• Electric Power Steering
• Hydraulic Power Steering
• Electro-Hydraulic Power Steering

 

By Application

• Passenger Cars
• Commercial Cars

 

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)

 

Automotive Steering Gearbox Market Companies

• ATS Automation Tooling Systems Inc
• Cardone Industries Inc
• China Automotive Systems Inc
• DENSO Corp
• Ford Motor Co
• HL Mando Co Ltd
• Hyundai Motor Co
• JTEKT Corp
• Knorr Bremse AG
• Melrose Industries Plc
• Mitsubishi Heavy Industries Ltd
• Nexteer Automotive Group Ltd
• Robert Bosch GmbH
• thyssenkrupp AG

 

*List not exhaustive

 

Automotive Steering Gearbox Market Outlook 2023

1 Market Overview

1.1 Introduction to the Automotive Steering Gearbox Market

1.2 Scope of the Study

1.3 Research Objective

1.3.1 Key Market Scope and Segments

1.3.2 Players Covered

1.3.3 Years Considered

 

2 Executive Summary

2.1 2023 Automotive Steering Gearbox Industry- Market Statistics

3 Market Dynamics

3.1 Market Drivers

3.2 Market Challenges

3.3 Market Opportunities

3.4 Market Trends

 

4 Market Factor Analysis

4.1 Porter’s Five Forces

4.2 Market Entropy

4.2.1 Global Automotive Steering Gearbox Market Companies with Area Served

4.2.2 Products Offerings Global Automotive Steering Gearbox Market

 

5 COVID-19 Impact Analysis and Outlook Scenarios

5.1.1 Covid-19 Impact Analysis

5.1.2 Post-COVID-19 Scenario- Low Growth Case

5.1.3 Post-COVID-19 Scenario- Reference Growth Case

5.1.4 Post-COVID-19 Scenario- Low Growth Case

 

6 Global Automotive Steering Gearbox Market Trends

6.1 Global Automotive Steering Gearbox Revenue (USD Million) and CAGR (%) by Type (2018-2030)

6.2 Global Automotive Steering Gearbox Revenue (USD Million) and CAGR (%) by Applications (2018-2030)

6.3 Global Automotive Steering Gearbox Revenue (USD Million) and CAGR (%) by Regions (2018-2030)

 

7 Global Automotive Steering Gearbox Market Revenue (USD Million) by Type, and Applications (2018-2022)

7.1 Global Automotive Steering Gearbox Revenue (USD Million) by Type (2018-2022)

7.1.1 Global Automotive Steering Gearbox Revenue (USD Million), Market Share (%) by Type (2018-2022)

7.2 Global Automotive Steering Gearbox Revenue (USD Million) by Applications (2018-2022)

7.2.1 Global Automotive Steering Gearbox Revenue (USD Million), Market Share (%) by Applications (2018-2022)

 

8 Global Automotive Steering Gearbox Development Regional Status and Outlook

8.1 Global Automotive Steering Gearbox Revenue (USD Million) By Regions (2018-2022)

8.2 North America Automotive Steering Gearbox Revenue (USD Million) by Type, and Application (2018-2022)

8.2.1 North America Automotive Steering Gearbox Revenue (USD Million) by Country (2018-2022)

8.2.2 North America Automotive Steering Gearbox Revenue (USD Million) by Type (2018-2022)

8.2.3 North America Automotive Steering Gearbox Revenue (USD Million) by Applications (2018-2022)

8.3 Europe Automotive Steering Gearbox Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)

8.3.1 Europe Automotive Steering Gearbox Revenue (USD Million), by Country (2018-2022)

8.3.2 Europe Automotive Steering Gearbox Revenue (USD Million) by Type (2018-2022)

8.3.3 Europe Automotive Steering Gearbox Revenue (USD Million) by Applications (2018-2022)

8.4 Asia Pacific Automotive Steering Gearbox Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)

8.4.1 Asia Pacific Automotive Steering Gearbox Revenue (USD Million) by Country (2018-2022)

8.4.2 Asia Pacific Automotive Steering Gearbox Revenue (USD Million) by Type (2018-2022)

8.4.3 Asia Pacific Automotive Steering Gearbox Revenue (USD Million) by Applications (2018-2022)

8.5 South America Automotive Steering Gearbox Revenue (USD Million), by Type, and Applications (2018-2022)

8.5.1 South America Automotive Steering Gearbox Revenue (USD Million), by Country (2018-2022)

8.5.2 South America Automotive Steering Gearbox Revenue (USD Million) by Type (2018-2022)

8.5.3 South America Automotive Steering Gearbox Revenue (USD Million) by Applications (2018-2022)

8.6 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)

8.6.1 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million) by Country (2018-2022)

8.6.2 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million) by Type (2018-2022)

8.6.3 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million) by Applications (2018-2022)

 

9 Company Profiles

 

10 Global Automotive Steering Gearbox Market Revenue (USD Million), by Type, and Applications (2023-2030)

10.1 Global Automotive Steering Gearbox Revenue (USD Million) and Market Share (%) by Type (2023-2030)

10.1.1 Global Automotive Steering Gearbox Revenue (USD Million), and Market Share (%) by Type (2023-2030)

10.2 Global Automotive Steering Gearbox Revenue (USD Million) and Market Share (%) by Applications (2023-2030)

10.2.1 Global Automotive Steering Gearbox Revenue (USD Million), and Market Share (%) by Applications (2023-2030)

 

11 Global Automotive Steering Gearbox Development Regional Status and Outlook Forecast

11.1 Global Automotive Steering Gearbox Revenue (USD Million) By Regions (2023-2030)

11.2 North America Automotive Steering Gearbox Revenue (USD Million) by Type, and Applications (2023-2030)

11.2.1 North America Automotive Steering Gearbox Revenue (USD) Million by Country (2023-2030)

11.2.2 North America Automotive Steering Gearbox Revenue (USD Million), by Type (2023-2030)

11.2.3 North America Automotive Steering Gearbox Revenue (USD Million), Market Share (%) by Applications (2023-2030)

11.3 Europe Automotive Steering Gearbox Revenue (USD Million), by Type, and Applications (2023-2030)

11.3.1 Europe Automotive Steering Gearbox Revenue (USD Million), by Country (2023-2030)

11.3.2 Europe Automotive Steering Gearbox Revenue (USD Million), by Type (2023-2030)

11.3.3 Europe Automotive Steering Gearbox Revenue (USD Million), by Applications (2023-2030)

11.4 Asia Pacific Automotive Steering Gearbox Revenue (USD Million) by Type, and Applications (2023-2030)

11.4.1 Asia Pacific Automotive Steering Gearbox Revenue (USD Million), by Country (2023-2030)

11.4.2 Asia Pacific Automotive Steering Gearbox Revenue (USD Million), by Type (2023-2030)

11.4.3 Asia Pacific Automotive Steering Gearbox Revenue (USD Million), by Applications (2023-2030)

11.5 South America Automotive Steering Gearbox Revenue (USD Million), by Type, and Applications (2023-2030)

11.5.1 South America Automotive Steering Gearbox Revenue (USD Million), by Country (2023-2030)

11.5.2 South America Automotive Steering Gearbox Revenue (USD Million), by Type (2023-2030)

11.5.3 South America Automotive Steering Gearbox Revenue (USD Million), by Applications (2023-2030)

11.6 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million), by Type, and Applications (2023-2030)

11.6.1 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million), by Region (2023-2030)

11.6.2 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million), by Type (2023-2030)

11.6.3 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million), by Applications (2023-2030)

 

12 Methodology and Data Sources

12.1 Methodology/Research Approach

12.1.1 Research Programs/Design

12.1.2 Market Size Estimation

12.1.3 Market Breakdown and Data Triangulation

12.2 Data Sources

12.2.1 Secondary Sources

12.2.2 Primary Sources

12.3 Disclaimer

 

List of Tables

Table 1 Market Segmentation Analysis

Table 2 Global Automotive Steering Gearbox Market Companies with Areas Served

Table 3 Products Offerings Global Automotive Steering Gearbox Market

Table 4 Low Growth Scenario Forecasts

Table 5 Reference Case Growth Scenario

Table 6 High Growth Case Scenario

Table 7 Global Automotive Steering Gearbox Revenue (USD Million) And CAGR (%) By Type (2018-2030)

Table 8 Global Automotive Steering Gearbox Revenue (USD Million) And CAGR (%) By Applications (2018-2030)

Table 9 Global Automotive Steering Gearbox Revenue (USD Million) And CAGR (%) By Regions (2018-2030)

Table 10 Global Automotive Steering Gearbox Revenue (USD Million) By Type (2018-2022)

Table 11 Global Automotive Steering Gearbox Revenue Market Share (%) By Type (2018-2022)

Table 12 Global Automotive Steering Gearbox Revenue (USD Million) By Applications (2018-2022)

Table 13 Global Automotive Steering Gearbox Revenue Market Share (%) By Applications (2018-2022)

Table 14 Global Automotive Steering Gearbox Market Revenue (USD Million) By Regions (2018-2022)

Table 15 Global Automotive Steering Gearbox Market Share (%) By Regions (2018-2022)

Table 16 North America Automotive Steering Gearbox Revenue (USD Million) By Country (2018-2022)

Table 17 North America Automotive Steering Gearbox Revenue (USD Million) By Type (2018-2022)

Table 18 North America Automotive Steering Gearbox Revenue (USD Million) By Applications (2018-2022)

Table 19 Europe Automotive Steering Gearbox Revenue (USD Million) By Country (2018-2022)

Table 20 Europe Automotive Steering Gearbox Revenue (USD Million) By Type (2018-2022)

Table 21 Europe Automotive Steering Gearbox Revenue (USD Million) By Applications (2018-2022)

Table 22 Asia Pacific Automotive Steering Gearbox Revenue (USD Million) By Country (2018-2022)

Table 23 Asia Pacific Automotive Steering Gearbox Revenue (USD Million) By Type (2018-2022)

Table 24 Asia Pacific Automotive Steering Gearbox Revenue (USD Million) By Applications (2018-2022)

Table 25 South America Automotive Steering Gearbox Revenue (USD Million) By Country (2018-2022)

Table 26 South America Automotive Steering Gearbox Revenue (USD Million) By Type (2018-2022)

Table 27 South America Automotive Steering Gearbox Revenue (USD Million) By Applications (2018-2022)

Table 28 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million) By Region (2018-2022)

Table 29 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million) By Type (2018-2022)

Table 30 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million) By Applications (2018-2022)

Table 31 Financial Analysis

Table 32 Global Automotive Steering Gearbox Revenue (USD Million) By Type (2023-2030)

Table 33 Global Automotive Steering Gearbox Revenue Market Share (%) By Type (2023-2030)

Table 34 Global Automotive Steering Gearbox Revenue (USD Million) By Applications (2023-2030)

Table 35 Global Automotive Steering Gearbox Revenue Market Share (%) By Applications (2023-2030)

Table 36 Global Automotive Steering Gearbox Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2030)

Table 37 North America Automotive Steering Gearbox Revenue (USD)By Country (2023-2030)

Table 38 North America Automotive Steering Gearbox Revenue (USD Million) By Type (2023-2030)

Table 39 North America Automotive Steering Gearbox Revenue (USD Million) By Applications (2023-2030)

Table 40 Europe Automotive Steering Gearbox Revenue (USD Million) By Country (2023-2030)

Table 41 Europe Automotive Steering Gearbox Revenue (USD Million) By Type (2023-2030)

Table 42 Europe Automotive Steering Gearbox Revenue (USD Million) By Applications (2023-2030)

Table 43 Asia Pacific Automotive Steering Gearbox Revenue (USD Million) By Country (2023-2030)

Table 44 Asia Pacific Automotive Steering Gearbox Revenue (USD Million) By Type (2023-2030)

Table 45 Asia Pacific Automotive Steering Gearbox Revenue (USD Million) By Applications (2023-2030)

Table 46 South America Automotive Steering Gearbox Revenue (USD Million) By Country (2023-2030)

Table 47 South America Automotive Steering Gearbox Revenue (USD Million) By Type (2023-2030)

Table 48 South America Automotive Steering Gearbox Revenue (USD Million) By Applications (2023-2030)

Table 49 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million) By Region (2023-2030)

Table 50 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million) By Region (2023-2030)

Table 51 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million) By Type (2023-2030)

Table 52 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million) By Applications (2023-2030)

Table 53 Research Programs/Design for This Report

Table 54 Key Data Information from Secondary Sources

Table 55 Key Data Information from Primary Sources

 

List of Figures

Figure 1 Market Scope

Figure 2 Porter’s Five Forces

Figure 3 Global Automotive Steering Gearbox Revenue (USD Million) By Type (2018-2022)

Figure 4 Global Automotive Steering Gearbox Revenue Market Share (%) By Type (2022)

Figure 5 Global Automotive Steering Gearbox Revenue (USD Million) By Applications (2018-2022)

Figure 6 Global Automotive Steering Gearbox Revenue Market Share (%) By Applications (2022)

Figure 7 Global Automotive Steering Gearbox Market Revenue (USD Million) By Regions (2018-2022)

Figure 8 Global Automotive Steering Gearbox Market Share (%) By Regions (2022)

Figure 9 North America Automotive Steering Gearbox Revenue (USD Million) By Country (2018-2022)

Figure 10 North America Automotive Steering Gearbox Revenue (USD Million) By Type (2018-2022)

Figure 11 North America Automotive Steering Gearbox Revenue (USD Million) By Applications (2018-2022)

Figure 12 Europe Automotive Steering Gearbox Revenue (USD Million) By Country (2018-2022)

Figure 13 Europe Automotive Steering Gearbox Revenue (USD Million) By Type (2018-2022)

Figure 14 Europe Automotive Steering Gearbox Revenue (USD Million) By Applications (2018-2022)

Figure 15 Asia Pacific Automotive Steering Gearbox Revenue (USD Million) By Country (2018-2022)

Figure 16 Asia Pacific Automotive Steering Gearbox Revenue (USD Million) By Type (2018-2022)

Figure 17 Asia Pacific Automotive Steering Gearbox Revenue (USD Million) By Applications (2018-2022)

Figure 18 South America Automotive Steering Gearbox Revenue (USD Million) By Country (2018-2022)

Figure 19 South America Automotive Steering Gearbox Revenue (USD Million) By Type (2018-2022)

Figure 20 South America Automotive Steering Gearbox Revenue (USD Million) By Applications (2018-2022)

Figure 21 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million) By Region (2018-2022)

Figure 22 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million) By Type (2018-2022)

Figure 23 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million) By Applications (2018-2022)

Figure 24 Global Automotive Steering Gearbox Revenue (USD Million) By Type (2023-2030)

Figure 25 Global Automotive Steering Gearbox Revenue Market Share (%) By Type (2030)

Figure 26 Global Automotive Steering Gearbox Revenue (USD Million) By Applications (2023-2030)

Figure 27 Global Automotive Steering Gearbox Revenue Market Share (%) By Applications (2030)

Figure 28 Global Automotive Steering Gearbox Market Revenue (USD Million) By Regions (2023-2030)

Figure 29 North America Automotive Steering Gearbox Revenue (USD Million) By Country (2023-2030)

Figure 30 North America Automotive Steering Gearbox Revenue (USD Million) By Type (2023-2030)

Figure 31 North America Automotive Steering Gearbox Revenue (USD Million) By Applications (2023-2030)

Figure 32 Europe Automotive Steering Gearbox Revenue (USD Million) By Country (2023-2030)

Figure 33 Europe Automotive Steering Gearbox Revenue (USD Million) By Type (2023-2030)

Figure 34 Europe Automotive Steering Gearbox Revenue (USD Million) By Applications (2023-2030)

Figure 35 Asia Pacific Automotive Steering Gearbox Revenue (USD Million) By Country (2023-2030)

Figure 36 Asia Pacific Automotive Steering Gearbox Revenue (USD Million) By Type (2023-2030)

Figure 37 Asia Pacific Automotive Steering Gearbox Revenue (USD Million) By Applications (2023-2030)

Figure 38 South America Automotive Steering Gearbox Revenue (USD Million) By Country (2023-2030)

Figure 39 South America Automotive Steering Gearbox Revenue (USD Million) By Type (2023-2030)

Figure 40 South America Automotive Steering Gearbox Revenue (USD Million) By Applications (2023-2030)

Figure 41 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million) By Region (2023-2030)

Figure 42 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million) By Region (2023-2030)

Figure 43 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million) By Type (2023-2030)

Figure 44 Middle East and Africa Automotive Steering Gearbox Revenue (USD Million) By Applications (2023-2030)

Figure 45 Bottom-Up and Top-Down Approaches For This Report

Figure 46 Data Triangulation

 

Automotive Steering Gearbox Market Segmentation

By Type

• Electric Power Steering
• Hydraulic Power Steering
• Electro-Hydraulic Power Steering

 

By Application

• Passenger Cars
• Commercial Cars

 

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)