Albany, NY -- (SBWIRE) -- 01/02/2018 -- Automotive power steering is part of a vehicle's steering system. The main function of a power steering gear is to convert rotational motion of the steering wheel into linear motion and thus control the direction of the wheels.
Power steering gears are present in both hydraulic power steering and electronic power steering systems. The rack and pinion gear system consists of two gears: a circular gear called pinion and a linear gear called rack. As a rotational force of steering wheel is applied to the pinion, the teeth of the pinion moves the linear rack. Thus, the rack and pinion gear system converts rotation motion into linear motion and controls the direction of the steering wheel. In recirculating ball power steering gears, the worm gear is attached to the end of a steering column. A ball nut rack is mounted on the worm gear. Two sets of balls are provided in the grove of the worm gear and ball nut rack. The balls helps in reducing friction during the movement of the nut rack on the worm gear. The nut rack is provided with teeth outside and is connected to the pitman arm. When rotation force of the steering wheel is applied, the ball nut racks move in a linear fashion. Thus, rotation motion of steering wheel is converted to linear motion and controls the direction of the steering wheel. Rack and pinion gears are generally found in passenger vehicles and light commercial vehicles and recirculating ball power steering gears are found in heavy commercial vehicles.
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By type, the market is segmented into rack and pinion gear and recirculating ball power steering gears. The automotive power steering gear market is of two types: original equipment (OE) type and aftermarket type. By vehicle type, the market is classified into passenger vehicles, light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs).
By type, the market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is a major automotive power steering gears market. The growth of the market is more than Europe and other regions but less than Asia Pacific. The U.S. is the largest market in this region as it is the second largest automotive and passenger vehicles market in the world. Canada and Mexico are other major markets in this region. Europe is also one of the largest automotive power steering gears market in the world.
Germany is the largest market in this region as it is the largest automotive market in Europe and its passenger vehicle market is fourth largest in the world. The U.K, France, Italy, Spain, Belgium and Netherlands are other key markets in this region. The automotive power steering gear market growth rate in Europe is less than the U.S. Asia Pacific is the largest automotive power steering market in the world. China is the largest market in this region as it is the dominant automotive and passenger vehicle market in the world. Japan and India are major markets in this region as they are the third and fifth largest passenger vehicle markets in the world. South Korea and Australia are other prominent markets in this region. The automotive power steering gear market in Asia Pacific is growing at the fastest rate among all the regions. Middle East & Africa is another significant automotive power steering gears market led by Turkey, Iran and South Africa. Latin America is another major automotive power steering gears market, dominated by Brazil and Argentina.
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Rising demand for passenger vehicles across the world is anticipated to increase the demand for power steering gears in the global automotive market.
The report highlights the various competitive strategies adopted by key players operating in the market to gain market share. Company profiles include company details, market presence by geography and segments, strategic overview, SWOT analysis, and historical revenue. The report also contains details of market share analysis of key players in the market. Some of the major firms operating in the automotive power steering gears market are GKN Services International GmbH (Germany), ThyssenKrupp AG (Germany), ZF Friedrichshafen (Germany), Robert Bosch GmbH (Germany), Nexteer Automotive (the U.S), ATS Automation Tooling Systems Inc. (Canada), JTEKT Corporation (Japan), Showa Corporation (Japan), Mando Automotive India Private Limited (India) and Rane Group (India).