Global Automotive Steering Control Module Market 2017-2021

Overview of the global automotive steering control module market

According to Technavio's research analysis, the rising demand for vehicles will be one of the major factors that will have a positive impact on the growth of the global automotive steering control module market till 2021. The need for passenger cars is rising significantly in developing economies, such as Brazil, China, and India, due to economic growth and rising purchasing power of consumers. Several automotive OEMs are entering and setting up their bases in India to tap into the enormous market potential. In addition, the economic growth in BRIC nations has boosted the growth of the global automotive industry and many global auto manufacturers have partnered with automakers in developing economies to gain access to their markets. The demand for automobiles is gradually increasing in developed regions like North America and Europe. Majority of the automobiles manufactured in these regions are equipped with power steering systems that are considered standard equipment for vehicles as they improve the driving comfort. These power steering systems lessen the weight of the vehicles and help improve fuel efficiency. These factors are driving the growth of the global automotive steering control module market. Our market research analysts predict that in terms of units, this market will grow at a CAGR of more than 8% by 2021.

The rising demand for SBW technology is one of the key trends that will gain traction in the automotive steering control module market.  The SBW technology utilizes electrically connected motors to control the steering system of a vehicle. This technology eliminates the physical connection between the steering wheel and the steering system and provides effectual feedback from the steering system making the vehicle more fuel efficient. Also, the SBW technology enhances the handling and safety of a vehicle and removes many mechanical components, such as a column, steering shaft, gear reduction mechanism, and hydraulic power steering fluid that further lowers the vehicle's maintenance costs.

Competitive landscape and key vendors  

The automotive steering control module market is mainly growing due to the implementation of stringent safety norms globally and rising need for the OEMs to distinguish their products.  Also, the rising demand for fuel efficient vehicles due to the strict safety measures have forced the OEMs to adopt electronic power steering systems that has led to high sales of steering control modules. This will lead to the growth of the electronic power steering systems market.

The leading vendors in the market are ?

• Bosch
• DENSO
• Nexteer Automotive
• ZF Friedrichshafen

The other prominent vendors in the market are CIE Automotive, Eaton, HELLA, Hyundai Mobis, JTEKT, KSR International, Leopold Kostal, Mando, NSK, and Thyssenkrupp.

Segmentation by application and analysis of the automotive steering control module market

• Passenger vehicles
• Commercial vehicles

During 2016, the passenger vehicles segment accounted for the major shares of the automotive steering control market. Factors such as the increased adoption of power steering systems and technologies such as advanced driver assistance systems (ADAS) in passenger cars will contribute to the growth of this industry segment in the coming years.

Geographical segmentation and analysis of the automotive steering control module market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the automotive steering control module market throughout the forecast period.  The increased adoption of new technologies in mid-segment, luxury, and super sports cars, and LCVs in the region will drive the market growth.

Key questions answered in the report include

• ?What will the market size and the growth rate be in 2021?
• What are the key factors driving the global automotive steering control module market?
• What are the key market trends impacting the growth of the global automotive steering control module market?
• What are the challenges to market growth?
• Who are the key vendors in the global automotive steering control module market?
• What are the market opportunities and threats faced by the vendors in the global automotive steering control module market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global automotive steering control module market?

Technavio also offers customization on reports based on specific client requirement.

Technavio publishes a wide variety of research report from the automotive industry gathering information on market size, growth rate, emerging trends, and key growth drivers. The upcoming report on the global automotive steering control module market also identifies some of the vendors competing in this market and affecting the automotive electronics sector as HELLA, KSR International, Denso, ZF, and Eaton.

Technavio gathers business intelligence data on key parameters such as products, revenue, pricing, competition, and technology by conducting exhaustive qualitative and quantitative research. Qualitative and quantitative research methodologies like vendor analysis, trends and driver analysis, and market size and market growth assessment are also used to accurately forecast the growth of the market assisting the client in devising effective business strategies.

The upcoming report on the global automotive steering control module market also considers the growth of related markets such as the automotive launch control system market and automotive heated steering wheel market which are expected to grow at the rate of 5% and 7%, respectively, for the forecast period of 2017 to 2021. Our research analysts expect the market to grow with rapid product innovations such as electro hydraulic power steering systems. The report also monitors the market's progress in geographic regions such as the Americas, APAC, and EMEA.

The upcoming research report on the global automotive steering control module market also includes emerging trends, industry outlook and size estimation, major geographic markets, and opportunities and challenges faced by the industry. The report also covers insights and information from the related sectors such as automotive manufacturing, wheels and tires, and auto accessories.

Our market research methodology for the global automotive steering control module market

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