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India Automotive Steering System Market Report by Type (Electric Power Steering (EPS), Hydraulic Power Steering (HPS), Electro-Hydraulic Power Steering (EHPS), Manual Steering), Component (Steering Column, Steering Wheel Speed Sensors, Electric Motors, Hydraulic Pumps, and Others), Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A21539
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Market Overview:
India automotive steering system market size is projected to exhibit a growth rate (CAGR) of XX% during 2024-2032. The integration of ADAS, which includes features like lane-keeping assistance and automatic emergency braking, which enhances the demand for steering systems with enhanced capabilities to support these functionalities, is driving the market.
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Report Attribute
|
Key Statistics
|
|---|---|
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Base Year
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2023 |
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Forecast Years
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2024-2032 |
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Historical Years
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2018-2023
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| Market Growth Rate (2024-2032) | XX% |
An automotive steering system is a crucial component in vehicles, responsible for controlling the direction of motion. The primary purpose is to enable the driver to navigate the vehicle safely and efficiently. There are various types of steering systems, with the most common being power-assisted and electric power steering. Power steering systems use hydraulic or electric mechanisms to reduce the effort required by the driver when turning the wheel. Rack-and-pinion and recirculating balls are common steering mechanisms. As the driver turns the steering wheel, these systems transmit the motion to the vehicle's wheels, allowing precise control over direction. The advancement of technology has led to innovations like adaptive steering, enhancing vehicle responsiveness and overall driving experience. The effectiveness of an automotive steering system is vital for ensuring optimal handling and maneuverability on the road.
India Automotive Steering System Market Trends:
The automotive steering system market in India is experiencing robust growth, primarily driven by several key factors. Firstly, the rising regional demand for automobiles, fueled by population growth and increasing urbanization, has significantly contributed to the expansion of the automotive sector. Consequently, this surge in vehicle production has propelled the demand for steering systems. Moreover, stringent government regulations emphasizing vehicle safety standards have mandated the integration of advanced steering technologies, creating a market push. In addition to regulatory drivers, the growing consumer preference for enhanced driving comfort and safety features has spurred the adoption of advanced steering systems. This shift is evident in the increasing demand for electric power steering (EPS) systems, which provide smoother and more responsive steering capabilities. Furthermore, the automotive industry's rapid technological evolution, marked by the integration of autonomous driving features, has necessitated sophisticated and adaptive steering systems. This technological paradigm shift is acting as a pivotal driver, stimulating manufacturers to invest in R&D to stay competitive in the dynamic market landscape. In conclusion, the automotive steering system market in India is thriving on a confluence of factors, including increasing vehicle production, stringent safety regulations, consumer preferences for advanced features, and the evolution towards autonomous driving technologies.
India Automotive Steering System Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on type, component, and vehicle type.
Type Insights:
- Electric Power Steering (EPS)
- Hydraulic Power Steering (HPS)
- Electro-Hydraulic Power Steering (EHPS)
- Manual Steering
The report has provided a detailed breakup and analysis of the market based on the type. This includes electric power steering (EPS), hydraulic power steering (HPS), electro-hydraulic power steering (EHPS), and manual steering.
Component Insights:
- Steering Column
- Steering Wheel Speed Sensors
- Electric Motors
- Hydraulic Pumps
- Others
A detailed breakup and analysis of the market based on the component have also been provided in the report. This includes steering column, steering wheel speed sensors, electric motors, hydraulic pumps, and others.
Vehicle Type Insights:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
The report has provided a detailed breakup and analysis of the market based on the vehicle type. This includes passenger cars, light commercial vehicles, and heavy commercial vehicles.
Regional Insights:
- North India
- West and Central India
- South India
- East and Northeast India
The report has also provided a comprehensive analysis of all the major regional markets, which include North India, West and Central India, South India, and East and Northeast India.
Competitive Landscape:
The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
India Automotive Steering System Market Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Million |
| Scope of the Report | Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
|
| Types Covered | Electric Power Steering (EPS), Hydraulic Power Steering (HPS), Electro-Hydraulic Power Steering (EHPS), Manual Steering |
| Components Covered | Steering Column, Steering Wheel Speed Sensors, Electric Motors, Hydraulic Pumps, Others |
| Vehicle Types Covered | Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles |
| Regions Covered | North India, West and Central India, South India, East and Northeast India |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the India automotive steering system market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the India automotive steering system market?
- What is the breakup of the India automotive steering system market on the basis of type?
- What is the breakup of the India automotive steering system market on the basis of component?
- What is the breakup of the India automotive steering system market on the basis of vehicle type?
- What are the various stages in the value chain of the India automotive steering system market?
- What are the key driving factors and challenges in the India automotive steering system?
- What is the structure of the India automotive steering system market and who are the key players?
- What is the degree of competition in the India automotive steering system market?
Key Benefits for Stakeholders:
- IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India automotive steering system market from 2018-2032.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the India automotive steering system market.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India automotive steering system industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.
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