Automotive Steering Motors Market Analysis and Sze Forecasted for period from 2024 to 2031

The "Automotive Steering Motors Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Automotive Steering Motors market is expected to grow annually by 5.6% (CAGR 2024 - 2031).

This entire report is of 130 pages.

Automotive Steering Motors Introduction and its Market Analysis

The global Automotive Steering Motors market is projected to witness significant growth due to increasing demand for electric vehicles, advancements in automotive technology, and rising safety standards. Key players in the market include Bosch, DENSO, Johnson Electric, Brose Fahrzeugteile, Mahle, SKF, Nidec, Mitsuba Corporation, Minebea, and Broad Ocean. These companies are focusing on product innovation, strategic collaborations, and expansion in emerging markets to drive revenue growth. The report suggests that the market is highly competitive and fragmented, with a strong emphasis on research and development. Key findings highlight the need for companies to focus on sustainable practices and customer-centric solutions to maintain a competitive edge in the Automotive Steering Motors market.

Get a Sample PDF of the Report: https://www.reliablebusinessinsights.com/enquiry/request-sample/932207

The global Automotive Steering Motors market is segmented by type into Electric Power Steering (EPS) and Electro-Hydraulic Power Steering (EHPS), with applications in Passenger Cars and Commercial Vehicles. The increasing demand for fuel-efficient vehicles and the growing automotive industry are driving the market growth. However, regulatory and legal factors specific to market conditions such as government regulations on emissions standards and safety requirements are influencing the market dynamics. Manufacturers are focusing on developing innovative steering technologies to meet these regulations and cater to the changing consumer preferences. The Automotive Steering Motors market is expected to witness significant growth in the coming years, with key players investing in research and development to stay ahead in the competitive landscape. Overall, the market is poised for growth driven by technological advancements and stringent regulatory requirements.

Top Featured Companies Dominating the Global Automotive Steering Motors Market

The automotive steering motors market is highly competitive with key players such as Bosch, DENSO, Johnson Electric, Brose Fahrzeugteile, Mahle, SKF, Nidec, Mitsuba Corporation, Minebea, and Broad Ocean leading the industry. These companies offer a wide range of steering motors for various automotive applications, including electric power steering systems.

Bosch, a prominent player in the automotive industry, provides advanced steering solutions to improve vehicle performance and safety. DENSO focuses on developing innovative steering technologies to enhance driving experience and fuel efficiency. Johnson Electric specializes in compact and durable steering motors for electric power steering systems. Brose Fahrzeugteile offers integrated steering solutions for autonomous vehicles and electric vehicles.

Mahle provides efficient and precise steering motors for enhanced vehicle control and stability. SKF manufactures high-quality steering components to ensure smooth and responsive steering performance. Nidec is known for its reliable and durable steering motors for a wide range of automotive applications. Mitsuba Corporation specializes in compact and lightweight steering motors for compact cars and motorcycles.

Minebea and Broad Ocean are leading suppliers of steering motors for the automotive industry, offering cost-effective solutions to meet the growing demand for electric power steering systems worldwide. These companies play a crucial role in driving the growth of the automotive steering motors market by investing in research and development, expanding their product portfolios, and collaborating with automotive manufacturers to deliver innovative steering solutions.

In terms of sales revenue, Bosch reported a total revenue of approximately $90 billion in 2020, while DENSO generated around $38 billion in the same year. Johnson Electric recorded sales revenue of approximately $ billion, Mahle reported sales revenue of around $12 billion, and SKF generated revenue of approximately $8.6 billion in 2020. These figures highlight the significant contributions of these companies to the automotive steering motors market and their efforts to drive growth and innovation in the industry.

• Bosch
• DENSO
• Johnson Electric
• Brose Fahrzeugteile
• Mahle
• SKF
• Nidec
• Mitsuba Corporation
• Minebea
• Broad Ocean

Get a Sample PDF of the Report: https://www.reliablebusinessinsights.com/enquiry/request-sample/932207

Automotive Steering Motors Market Analysis, by Type:

• Electric Power Steering (EPS)
• Electro-Hydraulic Power Steering (EHPS)

Electric Power Steering (EPS) uses an electric motor to assist in steering, reducing the effort needed by the driver. Electro-Hydraulic Power Steering (EHPS) combines hydraulic power with an electric motor for improved control and efficiency. These advanced systems enhance driving performance, fuel efficiency, and overall vehicle safety. Their ease of use and improved handling capabilities have resulted in a growing demand for Automotive Steering Motors in the market. As consumers prioritize comfort and convenience in their vehicles, the adoption of EPS and EHPS systems continues to drive the expansion of the Automotive Steering Motors market.

Inquire or Share Your Questions If Any Before the Purchasing This Report -https://www.reliablebusinessinsights.com/enquiry/pre-order-enquiry/932207

Automotive Steering Motors Market Analysis, by Application:

• Passenger Cars
• Commercial Vehicles

Automotive steering motors are essential components in passenger cars and commercial vehicles for controlling the direction of the vehicle. They are used to assist the driver in steering by providing power assistance, making it easier to turn the wheels. Passenger cars and commercial vehicles rely on automotive steering motors to ensure smooth and efficient maneuverability on the road. The fastest growing application segment in terms of revenue is passenger cars, due to the increasing demand for advanced technologies in luxury vehicles and the rising popularity of electric power steering systems.

Purchase this Report: https://www.reliablebusinessinsights.com/purchase/932207

Automotive Steering Motors Industry Growth Analysis, by Geography:

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• China


• Japan


• South Korea


• India


• Australia


• China Taiwan


• Indonesia


• Thailand


• Malaysia

Latin America:

• Mexico


• Brazil


• Argentina Korea


• Colombia

Middle East & Africa:

• Turkey


• Saudi


• Arabia


• UAE


• Korea

The automotive steering motors market is expected to experience significant growth in regions such as North America, APAC, Europe, USA, and China. Among these regions, APAC and China are expected to dominate the market, with a market share percentage valuation of 35% and 25% respectively. North America and Europe are also anticipated to play a major role in the market, with a market share percentage valuation of 20% and 15% respectively. The overall expected market share of the automotive steering motors market in different regions is projected to showcase a strong growth trajectory in the coming years.

Purchase this Report: https://www.reliablebusinessinsights.com/purchase/932207

Check more reports on https://www.reliablebusinessinsights.com/