The Europe automotive steering system market is set to register a CAGR of 5.15% during the forecasting years of 2021 to 2028. The market growth of the region is attributed to key factors such as the presence of a well-established automotive sector, the increasing consumer purchasing power as well as a rise in spending on luxury cars, and substantial demand for fuel-efficient and lightweight vehicles.

EUROPE AUTOMOTIVE STEERING SYSTEM MARKET FORECAST 2021-2028

Europe Automotive Steering System Market by Type (Electric Power Steering System, Hydraulic Power Steering System, Electro-hydraulic Power Steering System, Steer by Wire) Market by Vehicle Type (ICE, Electric Vehicles) by Geography

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The Europe automotive steering system market growth study entails the evaluation of Russia, the United Kingdom, Czech Republic, Italy, France, Slovakia, Germany, and Rest of Europe. The sales value of steering columns, steering wheels, steering boxes, motor cars, tractors, and other motor vehicles in the United Kingdom peaked in 2016, equating to nearly $320.27 million. However, since then, the value has declined, accounting for around $248.49 million in 2019. In comparison, the country’s electric power steering (EPS) sector is augmenting, mainly fueled by the increasing production and sale of luxury vehicles due to the growing preference for comfort and safety.

On the other hand, Germany is renowned across the globe for its exceptional automotive sector and excellence in engineering. From the Americas to Asia, German vehicles exemplify highly valued attributes of reliability, design, safety, and innovation. The country’s state-of-the-art research and development infrastructure, in addition to comprehensive industry value chain integration and proficient workforce, generates an internationally recognized automotive environment. Therefore, the abovementioned factors are set to propel the Europe automotive steering system market growth during the forecast period.

ThyssenKrupp AG, headquartered in Germany, is involved in the development and production of technology-based solutions. It operates through six business segments, namely, components technology, marine systems, steel Europe, material services, industrial solutions, and elevator technology. The company’s product portfolio includes white goods, mechanical and plant engineering, chemicals, energy generation and distribution, construction, automotive, and others.

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RESEARCH SCOPE & METHODOLOGY
- STUDY OBJECTIVES
- SCOPE OF STUDY
- METHODOLOGY
- ASSUMPTIONS & LIMITATIONS
EXECUTIVE SUMMARY
- MARKET SIZE & ESTIMATES
- MARKET OVERVIEW
MARKET DYNAMICS
- KEY DRIVERS
  - RAPID RISE IN PRODUCTION OF AUTOMOBILES
  - DEMAND FOR MORE FUNCTIONS IN ELECTRONIC CONTROL UNIT (ECU)
  - RIGOROUS FUEL EFFICIENCY NORMS
- KEY RESTRAINTS
  - EMERGENCE OF AUTONOMOUS FEATURES IN CARS
  - RISING COSTS OF AUTOMOTIVE

KEY ANALYTICS
- IMPACT OF COVID-19 ON AUTOMOTIVE STEERING SYSTEM MARKET
- KEY MARKET TRENDS
- PORTER’S FIVE FORCES ANALYSIS
  - BUYERS POWER
  - SUPPLIERS POWER
  - SUBSTITUTION
  - NEW ENTRANTS
  - INDUSTRY RIVALRY
- OPPORTUNITY MATRIX
- VENDOR LANDSCAPE
- KEY BUYING CRITERIA
  - FUEL CONSUMPTION
  - CO2 EMISSION
  - MAINTENANCE

MARKET BY TYPE
- ELECTRIC POWER STEERING SYSTEM
  - ELECTRIC POWER STEERING SYSTEM BY TYPE
    - COLUMN ASSIST TYPE (C-EPS)
    - PINION ASSIST TYPE (P-EPS)
    - DIRECT DRIVE TYPE (D-EPS)
    - RACK ASSIST TYPE (R-EPS)
  - ELECTRIC POWER STEERING SYSTEM BY COMPONENTS
    - STEERING RACK/COLUMN
    - SENSOR
    - STEERING MOTOR
    - OTHER COMPONENT TYPES
  - HYDRAULIC POWER STEERING SYSTEM
  - ELECTRO-HYDRAULIC POWER STEERING SYSTEM
  - STEER BY WIRE

MARKET BY VEHICLE TYPE
- ICE
- ELECTRIC VEHICLES
  - PHEV (PLUG-IN HYBRID ELECTRIC VEHICLE)
  - BEV (BATTERY ELECTRIC VEHICLE)
  - FCEV (FUEL CELL ELECTRIC VEHICLE)
  - HEV (HYBRID ELECTRIC VEHICLE)

GEOGRAPHICAL ANALYSIS
- EUROPE
  - MARKET SIZE & ESTIMATES
  - KEY GROWTH ENABLERS
  - KEY CHALLENGES
  - KEY PLAYERS
  - COUNTRY ANALYSIS
    - UNITED KINGDOM
    - GERMANY
    - FRANCE
    - ITALY
    - RUSSIA
    - SLOVAKIA
    - CZECH REPUBLIC
    - REST OF EUROPE

COMPETITIVE LANDSCAPE
- KEY STRATEGIC DEVELOPMENTS
  - PRODUCT LAUNCHES & DEVELOPMENTS
  - PARTNERSHIPS & AGREEMENTS
  - BUSINESS EXPANSIONS & DIVESTITURES
- COMPANY PROFILES
  - CHINA AUTOMOTIVE SYSTEMS INC
  - DENSO CORPORATION
  - HITACHI ASTEMO LTD
  - HONDA MOTOR CO LTD
  - HYUNDAI MOBIS CO LTD
  - JTEKT CORPORATION
  - MANDO CORPORATION
  - MITSUBISHI ELECTRIC CORPORATION
  - NEXTEER AUTOMOTIVE CORPORATION
  - NSK LTD
  - ROBERT BOSCH GMBH
  - THYSSENKRUPP AG
  - ZF FRIEDRICHSHAFEN AG

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – AUTOMOTIVE STEERING SYSTEM

TABLE 2: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY TYPE, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 3: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY TYPE, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 4: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY TYPE OF ELECTRIC POWER STEERING SYSTEM, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 5: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY TYPE OF ELECTRIC POWER STEERING SYSTEM, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 6: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY COMPONENTS OF ELECTRIC POWER STEERING SYSTEM, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 7: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY COMPONENTS OF ELECTRIC POWER STEERING SYSTEM, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 8: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 9: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 10: LEADING PLAYERS OPERATING IN EUROPE AUTOMOTIVE STEERING SYSTEM MARKET

TABLE 11: UNITED KINGDOM PRODUCTION AND SALES OF AUTOMOTIVE (2016-2020)

TABLE 12: GERMANY PRODUCTION AND SALES OF AUTOMOTIVE (2016-2020)

TABLE 13: FRANCE PRODUCTION AND SALES OF AUTOMOTIVE (2016-2020)

TABLE 14: ITALY PRODUCTION AND SALES OF AUTOMOTIVE (2016-2020)

TABLE 15: RUSSIA PRODUCTION AND SALES OF AUTOMOTIVE (2016-2020)

TABLE 16: SPAIN PRODUCTION AND SALES OF AUTOMOTIVE (2016-2020)

TABLE 17: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 18: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 19: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES

FIGURE 1: PRODUCTION OF AUTOMOBILES (2016-2020)

FIGURE 2: KEY MARKET TRENDS

FIGURE 3: PORTER’S FIVE FORCES ANALYSIS

FIGURE 4: OPPORTUNITY MATRIX

FIGURE 5: VENDOR LANDSCAPE

FIGURE 6: KEY BUYING CRITERIA

FIGURE 7: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, GROWTH POTENTIAL, BY TYPE, IN 2020

FIGURE 8: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY ELECTRIC POWER STEERING SYSTEM, 2021-2028 (IN $ MILLION)

FIGURE 9: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, GROWTH POTENTIAL, BY TYPE OF ELECTRIC POWER STEERING SYSTEM, IN 2020

FIGURE 10: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY COLUMN ASSIST TYPE (C-EPS), 2021-2028 (IN $ MILLION)

FIGURE 11: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY PINION ASSIST TYPE (P-EPS), 2021-2028 (IN $ MILLION)

FIGURE 12: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY DIRECT DRIVE TYPE (D-EPS), 2021-2028 (IN $ MILLION)

FIGURE 13: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY RACK ASSIST TYPE (R-EPS), 2021-2028 (IN $ MILLION)

FIGURE 14: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, GROWTH POTENTIAL, BY COMPONENTS OF ELECTRIC POWER STEERING SYSTEM, IN 2020

FIGURE 15: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY STEERING RACK/COLUMN, 2021-2028 (IN $ MILLION)

FIGURE 16: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY SENSOR, 2021-2028 (IN $ MILLION)

FIGURE 17: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY STEERING MOTOR, 2021-2028 (IN $ MILLION)

FIGURE 18: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY OTHER COMPONENT TYPES, 2021-2028 (IN $ MILLION)

FIGURE 19: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY HYDRAULIC POWER STEERING SYSTEM, 2021-2028 (IN $ MILLION)

FIGURE 20: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY ELECTRO-HYDRAULIC POWER STEERING SYSTEM, 2021-2028 (IN $ MILLION)

FIGURE 21: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, BY STEER BY WIRE, 2021-2028 (IN $ MILLION)

FIGURE 22: EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, COUNTRY OUTLOOK, 2020 & 2028 (IN %)

FIGURE 23: UNITED KINGDOM AUTOMOTIVE STEERING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 24: GERMANY AUTOMOTIVE STEERING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 25: FRANCE AUTOMOTIVE STEERING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 26: ITALY AUTOMOTIVE STEERING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 27: RUSSIA AUTOMOTIVE STEERING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 28: SLOVAKIA AUTOMOTIVE STEERING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 29: CZECH REPUBLIC AUTOMOTIVE STEERING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 30: REST OF EUROPE AUTOMOTIVE STEERING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

SEGMENTATION

GEOGRAPHICAL ANALYSIS
- EUROPE
  - MARKET SIZE & ESTIMATES
  - KEY GROWTH ENABLERS
  - KEY CHALLENGES
  - KEY PLAYERS
  - COUNTRY ANALYSIS
    - UNITED KINGDOM
    - GERMANY
    - FRANCE
    - ITALY
    - RUSSIA
    - SLOVAKIA
    - CZECH REPUBLIC
    - REST OF EUROPE

MARKET BY TYPE
- ELECTRIC POWER STEERING SYSTEM
  - ELECTRIC POWER STEERING SYSTEM BY TYPE
    - COLUMN ASSIST TYPE (C-EPS)
    - PINION ASSIST TYPE (P-EPS)
    - DIRECT DRIVE TYPE (D-EPS)
    - RACK ASSIST TYPE (R-EPS)
  - ELECTRIC POWER STEERING SYSTEM BY COMPONENTS
    - STEERING RACK/COLUMN
    - SENSOR
    - STEERING MOTOR
    - OTHER COMPONENT TYPES
  - HYDRAULIC POWER STEERING SYSTEM
  - ELECTRO-HYDRAULIC POWER STEERING SYSTEM
  - STEER BY WIRE

MARKET BY VEHICLE TYPE
- ICE
- ELECTRIC VEHICLES
  - PHEV (PLUG-IN HYBRID ELECTRIC VEHICLE)
  - BEV (BATTERY ELECTRIC VEHICLE)
  - FCEV (FUEL CELL ELECTRIC VEHICLE)
  - HEV (HYBRID ELECTRIC VEHICLE)