North America Adaptive Steering Market Size (2024 - 2029)

The North America Adaptive Steering Market is experiencing growth driven by the increasing incorporation of adaptive steering in passenger cars, which enhances driving comfort by reducing manual effort and improving stability. This market expansion is supported by the rising consumer preference for comfort and the United States' potential as a market for luxury vehicles. Additionally, the growing popularity of SUVs in North American countries, including the United States, Mexico, and Canada, is expected to further contribute to the market's development.

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Market Size of North America Adaptive Steering Industry

North America Adaptive Steering Market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 5.30 %
Market Concentration Medium

Major Players

North America Adaptive Steering Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America Adaptive Steering Market Analysis

The North America Adaptive Steering Market is anticipated to register a CAGR of 5.3% during the forecast period (2020 - 2025).

Adaptive steering has been increasing in a higher number of passenger cars in this region, which is expected to fuel market growth.

To reduce the manual effort, the adaptive steering was introduced to assist the driver. The advantage of adaptive steering is that it reduces the steering effort required at low speeds and increases the stability at higher speeds. The increasing demand for comfort opted by the customers is driving the growth of the market.

There has been an increase in demand for the adaptive steering market due to factors such as United States being a potential market for luxury cars as well.

Also, the growing demand for SUVs in North American countries such as the United States, Mexico, and Canada are is in-turn, expected to help the market as well.

North America Adaptive Steering Industry Segmentation

The North America Adaptive Steering Market report covers the current and upcoming trends with recent technological developments in various market areas by vehicle and product type. The country-level analysis and market share of significant adaptive steering manufacturing companies across North America will be provided.

Vehicle Type
Passenger Car
Commercial Vehicle
Product Type
PE-Steering
BM-Steering
Geography
North America
United States
Canada
Rest of North America
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North America Adaptive Steering Market Size Summary

The North America Adaptive Steering Market is poised for significant growth, driven by the increasing integration of adaptive steering systems in passenger vehicles across the region. This technology enhances driving comfort by reducing steering effort at low speeds and improving stability at higher speeds, aligning with the growing consumer preference for comfort and convenience. The market is further bolstered by the rising demand for luxury vehicles and SUVs in the United States, Mexico, and Canada. The automotive sector's substantial contribution to the region's GDP, particularly in the United States, underscores the importance of this market. However, the emergence of advanced automated steering technologies, such as lane-keeping assistance and steer-by-wire systems, presents challenges to the adaptive steering market's expansion.

The United States holds a dominant position in the North American adaptive steering market, supported by a robust automotive manufacturing base and a developed economy. The market's growth is facilitated by favorable conditions such as low production costs, accessible labor, and supportive government policies. The presence of major automotive and technology companies in the region fosters innovation and competition, with key players like Bosch, JTEKT, NSK, and Nexteer actively expanding their product offerings. Collaborative efforts, joint ventures, and the introduction of advanced technologies are strategies employed by these companies to maintain a competitive edge. Despite potential hindrances from emerging technologies, the adaptive steering market in North America is expected to experience rapid growth, driven by ongoing developments and increasing demand for sophisticated automotive solutions.

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North America Adaptive Steering Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porters Five Force Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Vehicle Type

      1. 2.1.1 Passenger Car

      2. 2.1.2 Commercial Vehicle

    2. 2.2 Product Type

      1. 2.2.1 PE-Steering

      2. 2.2.2 BM-Steering

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Rest of North America

North America Adaptive Steering Market Size FAQs

The North America Adaptive Steering Market is projected to register a CAGR of 5.30% during the forecast period (2024-2029)

BOSCH, JTEKT, NSK, NEXTEER and ZF TRW are the major companies operating in the North America Adaptive Steering Market.

North America Adaptive Steering Report Snapshots

North America Adaptive Steering Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)