The automotive steering motor market is forecasted to grow by USD 456.2 mn during 2023-2028, accelerating at a CAGR of 4.5% during the forecast period. The report on the automotive steering motor market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by key developments, increased adoption of eps in modern vehicles, and increasing penetration of 48v electrical architecture in automobiles.
Technavio's automotive steering motor market is segmented as below:
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
4.23%
CAGR
4.5%
Incremental Value
$456.2mn
By Application
Passenger car
Commercial vehicle
By Geographical Landscape
APAC
Europe
North America
South America
Middle East and Africa
This study identifies the continuous advances in automotive steering technology as one of the prime reasons driving the automotive steering motor market growth during the next few years. Also, apac is expected to dominate market during forecast period and increasing penetration of steer-by-wire technology will lead to sizable demand in the market.
The report on the automotive steering motor market covers the following areas:
Automotive steering motor market sizing
Automotive steering motor market forecast
Automotive steering motor market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive steering motor market vendors that include Allied Motion Technologies Inc., AMK Holding GmbH and Co. KG, BorgWarner Inc., Brose Fahrzeugteile SE and Co. KG, DENSO Corp., Hitachi Ltd., HL Mando Co. Ltd., Hyundai Motor Group, Johnson Electric Holdings Ltd., LG Innotek Co. Ltd., MAHLE GmbH, Melrose Industries Plc, Mitsuba Corp., Nexteer Automotive Group Ltd., Nidec Corp., NSK Ltd., Robert Bosch GmbH, thyssenkrupp AG, Toyota Motor Corp., and ZF Friedrichshafen AG. Also, the automotive steering motor market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by Application
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Parent Market
Data Table on - Parent Market
2.2 Market characteristics
Market characteristics analysis
2.3 Value chain analysis
Value Chain Analysis
3 Market Sizing
3.1 Market definition
Offerings of companies included in the market definition
3.2 Market segment analysis
Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ million)
Data Table on Global - Market size and forecast 2023-2028 ($ million)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Global Automotive Steering Motor Market 2018 - 2022
Historic Market Size - Data Table on Global Automotive Steering Motor Market 2018 - 2022 ($ million)