The India automotive steering system market is evaluated to register a CAGR of 7.29% during the forecast years. The market growth of the country is predominantly fortified by the increasing demand for passenger and commercial vehicles, initiatives introduced by the Government of India as well as key automobile players, and the rising incidence of vehicle accidents. While the base year considered for the studied market is 2020, the forecasted period is from 2021 to 2026.

INDIA AUTOMOTIVE STEERING SYSTEM MARKET FORECAST 2021-2026

India 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)

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According to industry sources, India was the fifth-largest automobile market in 2020, with nearly 3.49 million units sold in the commercial and passenger vehicle categories. The country was also the seventh-largest commercial vehicles manufacturer in 2019. In terms of volume, the two-wheelers segment dominated the market on account of the rising middle class and the younger population. Furthermore, the increasing interest of companies in exploring rural markets further propels the sector’s growth.

India is an eminent auto exporter, with strong export growth expectations over the upcoming years. Moreover, numerous initiatives by the Indian government, in addition to key automobile companies within the country’s market, is anticipated to make India a leader within the two-wheeler and four-wheeler sector globally. Hence, these factors are expected to play an essential role in proliferating the automotive steering system market growth in India during the forecast period.

Honda Motor Co Ltd, headquartered in Japan, is engaged in the production, development, and commercialization of a diverse range of motorcycles, automobiles, and power products. It also offers financial services to dealers and customers. Operating through an international network of subsidiaries and affiliates, the company’s presence spans Europe, Asia, and North America. Its business segments include Financial Services Business, Automobile Business, Power Products, and Motorcycle Business.

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RESEARCH SCOPE & METHODOLOGY
- STUDY OBJECTIVES
- SCOPE OF STUDY
- METHODOLOGY
- ASSUMPTIONS & LIMITATIONS
EXECUTIVE SUMMARY
- MARKET SIZE & ESTIMATES
- COUNTRY SNAPSHOT
- COUNTRY ANALYSIS
- KEY GROWTH ENABLERS
KEY ANALYTICS
- IMPACT OF COVID-19 ON INDIA AUTOMOTIVE STEERING SYSTEM MARKET
- KEY MARKET TRENDS
- PORTER’S FIVE FORCES ANALYSIS
  - BUYERS POWER
  - SUPPLIERS POWER
  - SUBSTITUTION
  - NEW ENTRANTS
  - INDUSTRY RIVALRY
- OPPORTUNITY MATRIX
- 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)

COMPETITIVE LANDSCAPE
- KEY STRATEGIC DEVELOPMENTS
  - PRODUCT LAUNCHES & DEVELOPMENTS
  - PARTNERSHIPS & AGREEMENTS
  - BUSINESS EXPANSIONS & DIVESTITURES
- COMPANY PROFILES
  - DENSO CORPORATION
  - HONDA MOTOR CO LTD
  - JTEKT CORPORATION
  - MANDO CORPORATION
  - NEXTEER AUTOMOTIVE CORPORATION

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – AUTOMOTIVE STEERING SYSTEM

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

TABLE 3: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, BY TYPE, FORECAST YEARS, 2021-2026 (IN $ MILLION)

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

TABLE 5: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, BY TYPE OF ELECTRIC POWER STEERING SYSTEM, FORECAST YEARS, 2021-2026 (IN $ MILLION)

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

TABLE 7: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, BY COMPONENTS OF ELECTRIC POWER STEERING SYSTEM, FORECAST YEARS, 2021-2026 (IN $ MILLION)

TABLE 8: INDIA PRODUCTION AND SALES OF AUTOMOTIVE (2016-2020)

TABLE 9: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 10: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 11: 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: KEY BUYING CRITERIA

FIGURE 6: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, GROWTH POTENTIAL, BY TYPE, IN 2020

FIGURE 7: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, BY ELECTRIC POWER STEERING SYSTEM, 2021-2026 (IN $ MILLION)

FIGURE 8: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, GROWTH POTENTIAL, BY TYPE OF ELECTRIC POWER STEERING SYSTEM, IN 2020

FIGURE 9: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, BY COLUMN ASSIST TYPE (C-EPS), 2021-2026 (IN $ MILLION)

FIGURE 10: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, BY PINION ASSIST TYPE (P-EPS), 2021-2026 (IN $ MILLION)

FIGURE 11: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, BY DIRECT DRIVE TYPE (D-EPS), 2021-2026 (IN $ MILLION)

FIGURE 12: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, BY RACK ASSIST TYPE (R-EPS), 2021-2026 (IN $ MILLION)

FIGURE 13: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, GROWTH POTENTIAL, BY COMPONENTS OF ELECTRIC POWER STEERING SYSTEM, IN 2020

FIGURE 14: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, BY STEERING RACK/COLUMN, 2021-2026 (IN $ MILLION)

FIGURE 15: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, BY SENSOR, 2021-2026 (IN $ MILLION)

FIGURE 16: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, BY STEERING MOTOR, 2021-2026 (IN $ MILLION)

FIGURE 17: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, BY OTHER COMPONENT TYPES, 2021-2026 (IN $ MILLION)

FIGURE 18: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, BY HYDRAULIC POWER STEERING SYSTEM, 2021-2026 (IN $ MILLION)

FIGURE 19: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, BY ELECTRO-HYDRAULIC POWER STEERING SYSTEM, 2021-2026 (IN $ MILLION)

FIGURE 20: INDIA AUTOMOTIVE STEERING SYSTEM MARKET, BY STEER BY WIRE, 2021-2026 (IN $ MILLION)

SEGMENTATION

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)