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Automotive power steering is part of a vehicle’s steering system. The main function of a power steering gear is to convert rotational motion of the steering wheel into linear motion and thus control the direction of the wheels.

Power steering gears are present in both hydraulic power steering and electronic power steering systems. The rack and pinion gear system consists of two gears: a circular gear called pinion and a linear gear called rack. As a rotational force of steering wheel is applied to the pinion, the teeth of the pinion moves the linear rack. Thus, the rack and pinion gear system converts rotation motion into linear motion and controls the direction of the steering wheel. In recirculating ball power steering gears, the worm gear is attached to the end of a steering column. A ball nut rack is mounted on the worm gear. Two sets of balls are provided in the grove of the worm gear and ball nut rack. The balls helps in reducing friction during the movement of the nut rack on the worm gear. The nut rack is provided with teeth outside and is connected to the pitman arm. When rotation force of the steering wheel is applied, the ball nut racks move in a linear fashion. Thus, rotation motion of steering wheel is converted to linear motion and controls the direction of the steering wheel. Rack and pinion gears are generally found in passenger vehicles and light commercial vehicles and recirculating ball power steering gears are found in heavy commercial vehicles.

By type, the market is segmented into rack and pinion gear and recirculating ball power steering gears. The automotive power steering gear market is of two types: original equipment (OE) type and aftermarket type. By vehicle type, the market is classified into passenger vehicles, light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs).

By type, the market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is a major automotive power steering gears market. The growth of the market is more than Europe and other regions but less than Asia Pacific. The U.S. is the largest market in this region as it is the second largest automotive and passenger vehicles market in the world. Canada and Mexico are other major markets in this region. Europe is also one of the largest automotive power steering gears market in the world. Germany is the largest market in this region as it is the largest automotive market in Europe and its passenger vehicle market is fourth largest in the world. The U.K, France, Italy, Spain, Belgium and Netherlands are other key markets in this region. The automotive power steering gear market growth rate in Europe is less than the U.S. Asia Pacific is the largest automotive power steering market in the world. China is the largest market in this region as it is the dominant automotive and passenger vehicle market in the world. Japan and India are major markets in this region as they are the third and fifth largest passenger vehicle markets in the world. South Korea and Australia are other prominent markets in this region. The automotive power steering gear market in Asia Pacific is growing at the fastest rate among all the regions. Middle East & Africa is another significant automotive power steering gears market led by Turkey, Iran and South Africa. Latin America is another major automotive power steering gears market, dominated by Brazil and Argentina.   

Rising demand for passenger vehicles across the world is anticipated to increase the demand for power steering gears in the global automotive market.

The report highlights the various competitive strategies adopted by key players operating in the market to gain market share. Company profiles include company details, market presence by geography and segments, strategic overview, SWOT analysis, and historical revenue. The report also contains details of market share analysis of key players in the market. Some of the major firms operating in the automotive power steering gears market are GKN Services International GmbH (Germany), ThyssenKrupp AG (Germany), ZF Friedrichshafen (Germany), Robert Bosch GmbH (Germany), Nexteer Automotive (the U.S), ATS Automation Tooling Systems Inc. (Canada), JTEKT Corporation (Japan), Showa Corporation (Japan), Mando Automotive India Private Limited (India) and Rane Group (India).

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  • Market size
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The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

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3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

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Automotive Power Steering Gears Market

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