LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET 2021-2028

Automotive & Transportation | Automotive Systems

LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET 2021-2028

Market by Vehicle Type, Type, and Country | Forecast 2021-2028

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Triton Market Research’s report on the automotive steering system market in Latin America predicts this industry to progress with a CAGR of 5.19% during the forecast years between 2021 and 2028.


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The countries considered for analysis in this market include:

•           Brazil

•           Mexico

•           Rest of Latin America         

Brazil is now among the top ten automotive markets in the world, according to Global Auto Production RRI rankings. Latin America’s largest auto parts manufacturer, DHB, which specializes in steering systems, has taken various profitable decisions over the years. This has helped it in becoming an important player in the thriving automotive market. Traditionally, most carmakers in Brazil rely on simpler mechanical steering systems. On the other hand, the sales of more complex hydraulic systems (with an efficient mechanism and a pump) are on the rise. Such developments are expected to benefit the market in Brazil in the coming years.

Meanwhile, Mexico is the seventh-largest vehicle producer worldwide, and produces more than three million cars every year. In December 2017, Bosch, the leading global automotive component supplier, inaugurated its first production facility for automotive steering components in Queretaro. The facility plans to assemble three products for passenger vehicles. This includes manual-adjust steering columns and two types of electric power steering, Servolectric dual pinion and Servolectric column type. Servolectric EPS enables driver assistance functions and helps reduce a vehicle’s fuel consumption. These developments show that the Mexican market for automotive steering systems is on a growth path.

Honda Motor Company is primarily engaged in developing, producing, and selling a broad range of automobiles, motorcycles, and power products. The company operates via four main business verticals: Automobile Business, Motorcycle Business, Financial Services Business, and Power Products. It offers electric power-assisted rack-and-pinion steering under automotive steering systems. Honda operates through a global network of subsidiaries and affiliates operating in various countries across the world. It has production sites in Brazil, Mexico, and Argentina. 

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Table of Content

1. LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET – SUMMARY

2. INDUSTRY OUTLOOK

2.1. IMPACT OF COVID-19 ON THE AUTOMOTIVE STEERING SYSTEM INDUSTRY

2.2. KEY INSIGHTS

2.2.1. ADOPTION OF SENSORS

2.2.2. ADAS (ADVANCED DRIVER ASSISTANCE SYSTEMS) ADOPTION IN AUTOMOTIVE

2.2.3. USAGE OF TECHNOLOGICALLY ADVANCED EPS

2.3. PORTER’S FIVE FORCES ANALYSIS

2.3.1. THREAT OF NEW ENTRANTS

2.3.2. THREAT OF SUBSTITUTE

2.3.3. BARGAINING POWER OF BUYERS

2.3.4. BARGAINING POWER OF SUPPLIERS

2.3.5. THREAT OF COMPETITIVE RIVALRY

2.4. MARKET ATTRACTIVENESS INDEX

2.5. VENDOR SCORECARD

2.6. KEY IMPACT ANALYSIS

2.6.1. FUEL CONSUMPTION

2.6.2. CO2 EMISSION

2.6.3. MAINTENANCE

2.7. KEY MARKET STRATEGIES

2.7.1. PRODUCT LAUNCHES

2.7.2. CONTRACTS & PARTNERSHIPS

2.7.3. BUSINESS EXPANSIONS & DIVESTITURES

2.8. MARKET DRIVERS

2.8.1. GROWING DEMAND FOR MORE FUNCTIONS IN ELECTRONIC CONTROL UNIT (ECU)

2.8.2. STRINGENT FUEL EFFICIENCY NORMS

2.9. MARKET CHALLENGES

2.9.1. EXPENSIVE AUTOMOTIVE

2.9.2. AUTONOMOUS FEATURES IN CARS

2.10. MARKET OPPORTUNITIES

2.10.1. POSITIVE OUTLOOK OF AUTOMOTIVE PRODUCTION

2.10.2. GROWING NUMBER OF ELECTRIC VEHICLES

3. LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET OUTLOOK – BY VEHICLE TYPE

3.1. ICE-DRIVEN

3.2. ELECTRIC VEHICLES

3.2.1. PHEV (PLUG-IN HYBRID ELECTRIC VEHICLE)

3.2.2. BEV (BATTERY ELECTRIC VEHICLE)

3.2.3. FCEV (FUEL CELL ELECTRIC VEHICLE)

3.2.4. HEV (HYBRID ELECTRIC VEHICLE)

4. LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET OUTLOOK – BY TYPE

4.1. ELECTRIC STEERING SYSTEM

4.1.1. ELECTRIC POWER STEERING SYSTEM BY TYPE

4.1.1.1. COLUMN-ASSIST TYPE (C-EPS)

4.1.1.2. PINION-ASSIST TYPE (P-EPS)

4.1.1.3. DIRECT DRIVE TYPE (D-EPS)

4.1.1.4. RACK-ASSIST TYPE (R-EPS)

4.1.2. ELECTRIC POWER STEERING SYSTEM BY COMPONENTS

4.1.2.1. STEERING RACK/COLUMN

4.1.2.2. SENSOR

4.1.2.3. STEERING MOTOR

4.1.2.4. OTHER COMPONENT TYPES

4.2. HYDRAULIC STEERING SYSTEM

4.3. ELECTRO-HYDRAULIC

4.4. STEER BY WIRE

5. LATIN AMERICA AUTOMOTIVE STEERING SYSTEMS MARKET – REGIONAL OUTLOOK

5.1. BRAZIL

5.2. MEXICO

5.3. REST OF LATIN AMERICA

6. COMPETITIVE LANDSCAPE

6.1. CHINA AUTOMOTIVE SYSTEMS INC

6.2. DENSO CORPORATION

6.3. HITACHI ASTEMO LTD

6.4. HONDA MOTOR COMPANY

6.5. HYUNDAI MOBIS

6.6. JTEKT CORPORATION

6.7. MANDO CORPORATION

6.8. MITSUBISHI ELECTRIC CORPORATION

6.9. NEXTEER AUTOMOTIVE CORPORATION

6.10. NSK LTD

6.11. ROBERT BOSCH GMBH

6.12. THYSSENKRUPP AG

6.13. ZF FRIEDRICHSHAFEN AG

7. RESEARCH METHODOLOGY & SCOPE

7.1. RESEARCH SCOPE & DELIVERABLES

7.2. SOURCES OF DATA

7.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1: LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET, BY COUNTRY, 2021-2028 (IN $ MILLION)          

TABLE 2: VENDOR SCORECARD        

TABLE 3: LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET, BY TYPE, 2021-2028 (IN $ MILLION)        

TABLE 4: LATIN AMERICA ELECTRIC POWER STEERING SYSTEM MARKET, BY TYPE, 2021-2028 (IN $ MILLION)          

TABLE 5: LATIN AMERICA ELECTRIC POWER STEERING SYSTEM MARKET, BY COMPONENTS, 2021-2028 (IN $ MILLION)     

TABLE 6: LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET, BY COUNTRY, 2021-2028 (IN $ MILLION)           

List of Figures

FIGURE 1: MARKET ATTRACTIVENESS INDEX       

FIGURE 2: KEY IMPACT ANALYSIS     

FIGURE 3: PRODUCTION OF AUTOMOBILES (2016-2020)

FIGURE 4: LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET, BY TYPE, 2020 & 2028 (IN %)  

FIGURE 5: LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET, BY ELECTRIC STEERING SYSTEM, 2021-2028 (IN $ MILLION)        

FIGURE 6: LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET, BY COLUMN-ASSIST TYPE (C-EPS), 2021-2028 (IN $ MILLION)    

FIGURE 7: LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET, BY PINION-ASSIST TYPE (C-EPS), 2021-2028 (IN $ MILLION)       

FIGURE 8: LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET, BY DIRECT DRIVE TYPE (D-EPS), 2021-2028 (IN $ MILLION)       

FIGURE 9: LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET, BY RACK-ASSIST TYPE (R-EPS), 2021-2028 (IN $ MILLION)       

FIGURE 10: LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET, BY STEERING RACK/COLUMN, 2021-2028 (IN $ MILLION)    

FIGURE 11: LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET, BY SENSOR, 2021-2028 (IN $ MILLION)          

FIGURE 12: LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET, BY STEERING MOTOR, 2021-2028 (IN $ MILLION)       

FIGURE 13: LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET, BY OTHER COMPONENT TYPES, 2021-2028 (IN $ MILLION)      

FIGURE 14: LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET, BY HYDRAULIC STEERING SYSTEM, 2021-2028 (IN $ MILLION)        

FIGURE 15: LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET, BY ELECTRO-HYDRAULIC, 2021-2028 (IN $ MILLION)           

FIGURE 16: LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET, BY STEER BY WIRE, 2021-2028 (IN $ MILLION)           

FIGURE 17: LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)  

FIGURE 18: BRAZIL AUTOMOTIVE STEERING SYSTEM MARKET 2021-2028 (IN $ MILLION)           

FIGURE 19: MEXICO AUTOMOTIVE STEERING SYSTEM MARKET 2021-2028 (IN $ MILLION)           

FIGURE 20: REST OF LATIN AMERICA AUTOMOTIVE STEERING SYSTEM MARKET 2021-2028 (IN $ MILLION)         

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