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Middle East & Africa Automotive Steering System Market Forecast to 2028 -Regional Analysis by Type (Electronic Power Steering, Hydraulic Power Steering, and Electro-Hydraulic Power Steering), Product Type (Column Drive and Rack Drive), and Vehicle Type (Passenger Cars and Commercial Vehicles)
Market Report I 2023-06-09 I 100 Pages I The Insight Partners
The Middle East & Africa automotive steering system market was valued at US$ 658.37 million in 2021 and is projected to reach US$ 805.86 million by 2028; it is expected to grow at a CAGR of 2.9% from 2021 to 2028.
Rise in Integration of EPS and Advanced Driver-Assistance Systems (ADAS) is Driving the Middle East & Africa Automotive Steering System Market
The automotive industry has reacted to the global demand to reduce emissions by accelerating the electrification of several typically mechanical systems. Anything from supercharging to power steering has been electrified to minimize emissions while also improving safety, simplifying operations, and providing a better driving experience. Electronic power steering systems have many advantages over their hydraulic counterparts, including reduced weight, maintenance, and fuel consumption, as well as improved variable steering response at various speeds. Simultaneously, the simplicity of integrating features such as electronic stability control and self-parking is fueling their demand. Owing to the versatility of EPS, many manufacturers are working on integrating it with other smart systems already in use in ADAS to increase vehicle safety and enhance the driving experience. For instance, Maserati switched its Ghibli, Quattroporte, and Levante models to electronic power steering in the models introduced in 2018, allowing new driver assistance systems. Similarly, Nexteer Automotive Corporation also introduced EPS that ensures safety through driver assistance by the integration ADAS systems with the electronic power steering systems.
Middle East & Africa Automotive Steering System Market Overview
The Middle East & Africa includes South Africa and the Rest of Middle East & Africa. The region is expected to see a rapid rise in marketing and industrialization, which would further propel the growth of diverse industries, including automotive. The Gulf countries are economically advanced, while the African countries still have to balance with the economic conditions of the Gulf countries. Several factors such as increase in passenger cars and commercial vehicles on the road, rise in demand for electric vehicles, and introduction of automated technology integrated cars, are positively affecting the automotive steering system market. In 2020, 720,156 units of vehicles were produced in Africa. Increasing car production and sales, growing disposable incomes, and rising demand for automotive steering systems are driving the market in the Middle East & Africa.
Middle East & Africa Automotive Steering System Market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa Automotive Steering System Market Segmentation
The Middle East & Africa automotive steering system market is segmented into type, product type, vehicle type, and country.
The Middle East & Africa automotive steering system market, by type, is segmented into electronic power steering, hydraulic power steering, electro-hydraulic power steering. The electronic power steering accounted for the highest share in the Middle East & Africa automotive steering system market in 2021.
The Middle East & Africa automotive steering system market, by product type, is bifurcated into column drive and rack drive. The rack drive segment held the largest market share in 2021.
The Middle East & Africa automotive steering system market, based on vehicle type, is segmented into passenger vehicles and commercial vehicles. In 2021, the passenger vehicle segment accounted for the highest share in the Middle East & Africa automotive steering system market.
Based on country, the Middle East & Africa automotive steering system market is segmented into South Africa and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the market in 2021.
Nexteer Automotive Corp; JTEKT Corp; Mando Co Ltd; NSK Ltd; and ThyssenKrupp AG are the leading companies operating in the Middle East & Africa automotive steering system market.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Middle East & Africa Automotive Steering System Market - By Type
1.3.2 Middle East & Africa Automotive Steering System Market - By Product Type
1.3.3 Middle East & Africa Automotive Steering System Market - By Vehicle Type
1.3.4 Middle East & Africa Automotive Steering System Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East & Africa Automotive Steering System Market Landscape
4.1 Market Overview
4.2 Middle East & Africa PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Middle East & Africa Automotive Steering System Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Stringent Fuel Efficiency Norms Driving Adoption of Advanced Automotive Steering Systems
5.1.2 Rise in Demand for Electrification in Vehicles
5.2 Market Restraints
5.2.1 High Cost of Electronic Power Steering (EPS) System and Difficulties Associated with Its Maintenance
5.3 Market Opportunities
5.3.1 Integration of Technologically Advanced EPS Systems in Commercial Vehicles
5.4 Future Trends
5.4.1 Rise in Integration of EPS and Advanced Driver-Assistance Systems (ADAS)
5.5 Impact Analysis of Drivers and Restraints
6. Automotive Steering System Market - Middle East & Africa Analysis
6.1 Middle East & Africa: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
7. Middle East & Africa Automotive Steering System Market Analysis - By Type
7.1 Overview
7.2 Middle East & Africa Automotive Steering System Market Revenue Breakdown, By Type, 2020 and 2028
7.3 Electronic Power Steering
7.3.1 Overview
7.3.2 Electronic Power Steering: Middle East & Africa Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Hydraulic Power Steering
7.4.1 Overview
7.4.2 Hydraulic Power Steering: Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
7.5 Electro-Hydraulic Power Steering
7.5.1 Overview
7.5.2 Electro-Hydraulic Power Steering: Middle East & Africa Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
8. Middle East & Africa Automotive Steering System Market Analysis - By Product Type
8.1 Overview
8.2 Middle East & Africa Automotive Steering System Market Revenue Breakdown, By Product Type, 2020 and 2028
8.3 Column Drive
8.3.1 Overview
8.3.2 Column Drive: Middle East & Africa Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
8.4 Rack Drive
8.4.1 Overview
8.4.2 Rack Drive: Middle East & Africa Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
9. Middle East & Africa Automotive Steering System Market Analysis - By Vehicle Type
9.1 Overview
9.2 Middle East & Africa Automotive Steering System Market Breakdown, By Vehicle Type, 2020 & 2028
9.3 Passenger cars
9.3.1 Overview
9.3.2 Passenger Cars: Middle East & Africa Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
9.4 Commercial Vehicles
9.4.1 Overview
9.4.2 Commercial Vehicles: Middle East & Africa Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
10. Middle East & Africa Automotive Steering System Market - Country Analysis
10.1 Overview
10.1.1 Middle East & Africa: Automotive Steering System Market, by Key Country
10.1.1.1 South Africa: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 South Africa: Automotive Steering System Market, by Type
10.1.1.1.2 South Africa: Automotive Steering System Market, by Product Type
10.1.1.1.3 South Africa: Automotive Steering System Market, by Vehicle Type
10.1.1.1.4 South Africa: Automotive Steering System Market, by Passenger Cars
10.1.1.1.5 South Africa: Automotive Steering System Market, by Commercial Vehicles
10.1.1.2 Rest of Middle East & Africa: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Rest of Middle East & Africa: Automotive Steering System Market, by Type
10.1.1.2.2 Rest of Middle East & Africa: Automotive Steering System Market, by Product Type
10.1.1.2.3 Rest of Middle East & Africa: Automotive Steering System Market, by Vehicle Type
10.1.1.2.4 Rest of Middle East & Africa: Automotive Steering System Market, by Passenger Cars
10.1.1.2.5 Rest of Middle East & Africa: Automotive Steering System Market, by Commercial Vehicles
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 Nexteer Automotive Corp
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 JTEKT Corp
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Mando Co Ltd
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 NSK Ltd
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 ThyssenKrupp AG
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Middle East & Africa Automotive Steering System Market - Revenue, and Forecast to 2028 (US$ Million)
Table 2. South Africa: Automotive Steering System Market, by Type -Revenue and Forecast to 2028 (US$ Million)
Table 3. South Africa: Automotive Steering System Market, by Product Type -Revenue and Forecast to 2028 (US$ Million)
Table 4. South Africa: Automotive Steering System Market, by Vehicle Type -Revenue and Forecast to 2028 (US$ Million)
Table 5. South Africa: Automotive Steering System Market, by Passenger Cars -Revenue and Forecast to 2028 (US$ Million)
Table 6. South Africa: Automotive Steering System Market, by Commercial Vehicles -Revenue and Forecast to 2028 (US$ Million)
Table 7. Rest of Middle East & Africa: Automotive Steering System Market, by Type -Revenue and Forecast to 2028 (US$ Million)
Table 8. Rest of Middle East & Africa: Automotive Steering System Market, by Product Type -Revenue and Forecast to 2028 (US$ Million)
Table 9. Rest of Middle East & Africa: Automotive Steering System Market, by Vehicle Type -Revenue and Forecast to 2028 (US$ Million)
Table 10. Rest of Middle East & Africa: Automotive Steering System Market, by Passenger Cars -Revenue and Forecast to 2028 (US$ Million)
Table 11. Rest of Middle East & Africa: Automotive Steering System Market, by Commercial Vehicles -Revenue and Forecast to 2028 (US$ Million)
Table 12. List of Abbreviation
LIST OF FIGURES
Figure 1. Middle East & Africa Automotive Steering System Market Segmentation
Figure 2. Middle East & Africa Automotive Steering System Market Segmentation - By Country
Figure 3. Middle East & Africa Automotive Steering System Market Overview
Figure 4. Passenger Cars Segment Held the Largest Market Share in 2020
Figure 5. Rest of Middle East & Africa was the Largest Revenue Contributor in 2020
Figure 6. Middle East & Africa - PEST Analysis
Figure 7. Expert Opinions
Figure 8. Middle East & Africa Automotive Steering System Market Impact Analysis of Drivers and Restraints
Figure 9. Middle East & Africa: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 10. Middle East & Africa Automotive Steering System Market Revenue Breakdown, By Type, 2020 & 2028 (%)
Figure 11. Electronic Power Steering: Middle East & Africa Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
Figure 12. Hydraulic Power Steering: Middle East & Africa Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
Figure 13. Electro-Hydraulic Power Steering: Middle East & Africa Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
Figure 14. Middle East & Africa Automotive Steering System Market Revenue Breakdown, By Type, 2020 & 2028 (%)
Figure 15. Column Drive: Middle East & Africa Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
Figure 16. Rack Drive: Middle East & Africa Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
Figure 17. Middle East & Africa Automotive Steering System Market Breakdown, By Vehicle Type, 2020 & 2028 (%)
Figure 18. Passenger Cars: Middle East & Africa Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
Figure 19. Commercial Vehicles: Middle East & Africa Automotive Steering System Market- Revenue and Forecast to 2028 (US$ Mn)
Figure 20. Middle East & Africa: Automotive Steering System Market, by Key Country - Revenue (2020) (US$ Million)
Figure 21. Middle East & Africa: Automotive Steering System Market Revenue Share, By Key Country (2020 and 2028)
Figure 22. South Africa: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 23. Rest of Middle East & Africa: Automotive Steering System Market - Revenue and Forecast to 2028 (US$ Million)
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