Automotive Steering System Market Outlook 2022: Big Things are Happening | Top Players JTEKT Corporation (Japan), Robert Bosch GmbH (Germany), Nexteer Automotive Group Limited (US)
The report “ Automotive Steering System Market by Technology (HPS, EHPS, EPS), EPS Type (R-EPS, C-EPS, P-EPS), Pinion Type (Single, Dual), Mechanism (Collapsible, Rigid), Components (OE & Aftermarket), Vehicle Type and Region – Global Forecast to 2025 ” The automotive steering system market is projected to reach USD 36.9 billion by 2025 from USD 29.3 billion in 2020, at a CAGR of 4.7% from 2020 to 2025. The growth of this market is primarily driven by the increasing demand for fuel-efficient and better driving comfort vehicles. Steering Column to be the largest segment, by component. The steering column segment, by value, is estimated to lead the market as steering columns are installed in all types of steering systems, such as HPS, EHPS, and EPS. Steering columns have incorporated collapsible components to enhance driver safety. These columns crumble or slide together during the impact of a collision, with the columns shortening and absorbing the force. The growth of t...