Automotive Dynamic Steering Market (By Type: Hydraulic Power Steering System [Electric Power Steering System]; By Applications: Passenger Cars, Commercial Vehicles, Electric Vehicle) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

The global automotive dynamic steering market size is expected to be worth around US$ 2,017.4 Mn by 2026, growing at a CAGR of around 12.1% during forecast period 2019 to 2026.

Automotive dynamic steering is particularly a car safety technique where the steering ratio gets altered according to the speed of the vehicle. Dynamic steering is intended to support the electronic stability program (ESP) by increasing stability so that the vehicle stabilizing process becomes more harmonious and effective. Basically, it’s a four-wheel steering system where all four wheels turn at the same time when the driver steers. Dynamic steering provides stability at high speed which supports the next level safety by total control at low speeds and reduced strain on muscles. It also helps to avoid skidding and unintentional lane changes. Additionally, the driver can set steering wheel preferences and can also operate through a remote. The dynamic steering system is based on a hydraulic power steering system or electric power steering system. The hydraulic power steering system is a type of power steering system that has a hydraulic pump to drive engine and hydraulic cylinders additionally to multiply the steering wheel input force, sequentially reduceing the efforts which are required to steer the front wheels of the vehicle. Furthermore, the electric power steering system is smaller and lighter in weight than hydraulic systems because it eliminates many components like pump, hoses, fluid, drive belt, and pulley. The EPS system is more energy-efficient than hydraulic systems because it doesn't require significant power when steering assistance is not in operation.

Market Dynamics

The benefits associated with the dynamic steering are particularly accelerating market growth. Lesser surface disturbances from the road, lighter steering, improved directional stability, easier to reverse, less muscle strain, and safer driving are some of the benefits of dynamic automotive steering. The increasing adoption of the multi-axle dynamic steering system for better handling and driving is supporting market value. The rising demand for advance drive handling technologies and automotive safety systems are pushing the major players to invest in the research and development activities is further propelling the demand. Along with these, increasing demand for large commercial vehicles due to rising economic development, expanding trade activities and improving world infrastructure is additionally expected to create demand during the forecast period. Moreover, the untapped market segment is projected to create potential opportunities throughout the forecast period.

On the other hand, the high cost associated with the dynamic steering based vehicle is likely to restrict the market value to some extent.

By type, electronic power steering system is expected to be the fastest growing segment over the estimated period

The ongoing electrification of automotive components for precise and accurate steering control is primarily contributing to market growth. The rising environmental concern coupled with the government safety norms and regulations is accelerating the manufacturers to invest in technologies that assist in engine downsizing, development of advanced safety systems, generate higher fuel efficiency, and also allow the electrification of various systems and components.

The market research study on “Automotive Dynamic Steering Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global deep learning market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global automotive dynamic steering market, its product type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global automotive dynamic steering market size and volume, and segment markets by product type, application, and geography along with the information on companies operating in the market. The automotive dynamic steering market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.

By region, Europe dominated the automotive dynamic steering market in 2018

The European region held the major share in the automotive dynamic steering market due to the availability of enhanced transportation infrastructure. The advanced technology like dynamic steering response, active steering, and advanced driver assisted system (ADAS) have accelerated the market value. In addition, the strict vehicle safety norms imposed by the government in major counties of the region is further supporting the market growth.

The players profiled in the report include BMW, Ford Motor, Volvo, ZF-TRW, AUDI, Robert Bosch GmbH, Denso Corporation, Danfoss, and Knorr-Bremse among others. The major players are continuously involved in introducing new technologies and facilities which can enhance the user driving experience. For instance, Volvo Dynamic Steering is developed to automatically compensate unevenness of road surface and to eliminate vibration and kicks in the steering wheel. The Volvo dynamic steering reduced resistance by 75% when driving at low speed, which is a major benefit while reversing and close-quarter maneuvering.  Additionally, Volvo dynamic steering can automatically self-center if the driver’s grip on the wheel lightens. Furthermore, the truck with dynamic steering can confidently maintain its direction in poor surfaces and even in strong side winds.

Market Segmentation

Market By Type

Hydraulic Power Steering System

• Electric Power Steering System

Market By Applications

Passenger Cars

Commercial Vehicles

Electric Vehicle

Market By Geography

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa