Shaft & Steering Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027
Report Description
The global Shaft & Steering market size is estimated at USD 22,100.6 million in 2020, expanding at a CAGR of 7.22% from 2021-2027 to reach 57,007.9 million USD in 2027.
Market Dynamics
In recent years, the steering shaft market has shown significant expansion. Automotive companies are producing steering shafts with driving comfort due to severe pollution requirements, which has fueled the expansion of the market. The rise in demand for steering shafts has resulted in an increase in steering shaft production in other nations as well. The Asia-Pacific market is moving toward an industrial production economy with low-cost raw material acquisition. With the significant rise in car demand, steering shaft manufacturing has risen at a faster rate, with firms prioritizing quality.
Manufacturers of steering shafts concentrate on creating steering shafts to meet a variety of market demands, ranging from commercial heavy vehicles to tiny cars. The announcement of a new variant in the steering shaft market helped to boost the requirement for steering shafts. Furthermore, manufacturers are getting more precise in their shaft fabrication.
Technology in the steering shaft industry has advanced substantially in recent years. Due to rising market demand, Germany is concentrating on creating steering shafts for SUV passenger vehicles. Heavy truck manufacturers have teamed together with German firms to develop a steering shaft that includes a water motor to absorb greater pressure. As a result, the automotive industry will work to make heavy vehicles more comfortable. In addition, this category has grown in popularity by offering a variety of items. Due to their sensor that offers data about the speed, steering wheel speed sensors have gained popularity in the sports vehicle industry. In the premium automobile class, most manufacturers use these sensors.
Regional Insights
Canada, the United States, Germany, Mexico, France, Italy, Spain, the United Kingdom, the Netherlands, Belgium, Portugal, Austria, Sweden, Finland, and Morocco are the leading manufacturers of steering shafts. German firms are concentrating their efforts on developing better and more efficient steering shafts. North American automakers, on the other hand, are spending heavily in the domestic automobile sector to meet regional demand. Sports vehicle steering shafts are being targeted by the United States and Canada, as they demand more precision and smoothness. Other steer shaft producers are concentrating on developing components to support steering shafts that are more durable. To increase market share, Canadian producers are introducing steering shafts with a linear and non-bulky form. This gives Canada a competitive advantage over other countries, as premium automakers are following this trend. It will allow for improved steering movement with less strain on the steering wheel.
Segment Insights
Side shaft has a wide range of applications and has lately gained prominence in a variety of passenger and commercial vehicle industries. The rising demand for passenger vehicles is driving the side shaft market globally, accounting for roughly 85.76 percent of total downstream usage of shafts used in vehicles. Because the worldwide market is projected to expand steadily in the future due to increased applications, side shafts production is expected to grow steadily in the coming years. The output of side shaft is expected to reach 245.8 million units in 2021. In terms of product pricing, the recent modest decrease trend will continue in the future.
The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Shaft & Steerings by type, region, and application. In addition, this report introduces the market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.
Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products etc.):
- ZF TRW, NSK Ltd.
- Wanxiang
- Robert Bosch Automotive Steering GMBH
- NTN
- Nexteer Automotive Group
- Nexteer
- Neapco
- KOFCO
- JTEKT
- Hyundai-wia
- Guansheng
- GKN
Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Rear Side Shaft
- Front Side Shaft
- Others
Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Passenger Vehicles
- Commercial Vehicles
Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):
- North America (U.S., and Canada)
- Europe (Germany, U.K., France, Italy, Spain, etc.)
- Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
- South America (Brazil, Mexico, Argentina, etc.)
- Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)
Table Of Content
TABLE OF CONTENT
1. Shaft & Steering Market Overview
1.1. Product Overview and Scope of Shaft & Steering
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Shaft & Steering Market Size Growth Rate Analysis by Type 2020 VS 2027
1.3.1. Rear Side Shaft
1.3.2. Front Side Shaft
1.3.3. Others
1.4. Global Shaft & Steering Consumption Comparison by Application: 2020 VS 2027
1.4.1. Passenger Vehicles
1.4.2. Commercial Vehicles
1.5. Global Shaft & Steering Market Size Estimates and Forecasts by Region: 2020 VS 2027
1.5.1. North America Shaft & Steering Estimates
1.5.2. Europe Shaft & Steering Estimates
1.5.3. China Shaft & Steering Estimates
1.5.4. Japan Shaft & Steering Estimates
2. Market Competition by Manufacturers
2.1. Global Shaft & Steering Revenue Market Share by Manufacturers (2020)
2.2. Shaft & Steering Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.3. Global Shaft & Steering Average Price by Manufacturers (2016-2021)
2.4. Manufacturers Shaft & Steering Production Sites, Area Served, Product Types
2.5. Shaft & Steering Market Competitive Situation and Trends
2.5.1. Shaft & Steering Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Shaft & Steering Consumption by Region (2016-2021)
3.1. Global Shaft & Steering Consumption by Region
3.2. Global Shaft & Steering Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Shaft & Steering Consumption Growth Rate (2016-2021)
3.2.3. North America Shaft & Steering Consumption, Price and Gross Margin (2016-2021)
3.2.4. North America Shaft & Steering Consumption by Country
3.2.4.1. U.S.
3.2.4.2. Canada
3.2.5. Europe
3.2.6. Europe Shaft & Steering Consumption Growth Rate (2016-2021)
3.2.7. Europe Shaft & Steering Consumption, Price and Gross Margin (2016-2021)
3.2.8. Europe Shaft & Steering Consumption by Country
3.2.8.1. Germany
3.2.8.2. U.K.
3.2.8.3. France
3.2.8.4. Italy
3.2.8.5. Spain
3.2.9. Asia Pacific
3.2.10. Asia Pacific Shaft & Steering Consumption Growth Rate (2016-2021)
3.2.11. Asia Pacific Shaft & Steering Consumption, Price and Gross Margin (2016-2021)
3.2.12. Asia Pacific Shaft & Steering Consumption by Country
3.2.12.1. China
3.2.12.2. India
3.2.12.3. Japan
3.2.12.4. Indonesia
3.2.12.5. Malaysia
3.2.12.6. Australia
3.2.12.7. South Korea
3.2.13. South America
3.2.14. South America Shaft & Steering Consumption Growth Rate (2016-2021)
3.2.15. South America Shaft & Steering Consumption, Price and Gross Margin (2016-2021)
3.2.16. South America Shaft & Steering Consumption by Country
3.2.16.1. Brazil
3.2.16.2. Mexico
3.2.16.3. Argentina
3.2.17. Middle East and Africa
3.2.18. Middle East and Africa Shaft & Steering Consumption Growth Rate (2016-2021)
3.2.19. Middle East and Africa Shaft & Steering Consumption, Price and Gross Margin (2016-2021)
3.2.20. Middle East and Africa Shaft & Steering Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. South Africa
4. Global Shaft & Steering Consumption by Type (2016-2021)
4.1. Global Shaft & Steering Price by Type (2016-2021)
4.2. Global Shaft & Steering Revenue Market Share by Type (2016-2021)
4.2.1. Rear Side Shaft
4.2.2. Front Side Shaft
4.2.3. Others
5. Global Shaft & Steering Consumption by Application (2016-2021)
5.1. Global Shaft & Steering Price by Application (2016-2021)
5.2. Global Shaft & Steering Revenue Market Share by Application (2016-2021)
5.2.1. Passenger Vehicles
5.2.2. Commercial Vehicles
6. Key Companies Profiled
6.1. ZF TRW, NSK Ltd
6.1.1. ZF TRW, NSK Ltd Shaft & Steering Corporation Information
6.1.2. ZF TRW, NSK Ltd Shaft & Steering Product Portfolio
6.1.3. ZF TRW, NSK Ltd Shaft & Steering Consumption, Price and Gross Margin (2016-2021)
6.1.4. ZF TRW, NSK Ltd Main Business and Markets Served
6.1.5. ZF TRW, NSK Ltd Recent Developments/Updates
6.2. Wanxiang
6.3. Robert Bosch Automotive Steering GMBH
6.4. NTN
6.5. Nexteer Automotive Group
6.6. Nexteer
6.7. Neapco
6.8. KOFCO
6.9. JTEKT
6.10. Hyundai-wia
6.11. Guansheng
6.12. GKN
7. Marketing Channel, Distributors and Customers
7.1. Marketing Channel
7.2. Shaft & Steering Distributors List
7.3. Shaft & Steering Customers
8. Market Dynamics
8.1. Shaft & Steering Industry Trends
8.2. Shaft & Steering Growth Drivers
8.3. Shaft & Steering Market Challenges
8.4. Shaft & Steering Market Restraints
9. Global Shaft & Steering Consumption and Demand Forecast, by region (2022-2027)
9.1. Global Forecasted Demand Analysis of Shaft & Steering, by Regions and Country
9.1.1. North America Forecasted Consumption of Shaft & Steering by Country
9.1.2. Europe Market Forecasted Consumption of Shaft & Steering by Country
9.1.3. Asia Pacific Market Forecasted Consumption of Shaft & Steering by Region
9.1.4. Latin America Forecasted Consumption of Shaft & Steering by Country
9.1.5. Middle East and Africa Forecasted Consumption of Shaft & Steering by Country
10. Global Shaft & Steering Consumption and Demand Forecast, by Type Segments (2022-2027)
10.1. Global Forecasted Consumption of Shaft & Steering by Type Segments (2022-2027)
10.2. Global Consumption and Price Forecast by Type Segments (2022-2027)
10.2.1. Global Forecasted Growth Rate of Shaft & Steering by Type Segments (2022-2027)
11. Global Shaft & Steering Consumption and Demand Forecast, by Application Segments (2022-2027)
11.1. Global Forecasted Consumption of Shaft & Steering by Application Segments (2022-2027)
11.2. Global Consumption and Price Forecast by Application Segments (2022-2027)
11.2.1. Global Forecasted Growth Rate of Shaft & Steering by Application Segments (2022-2027)
12. Research Finding and Conclusion
13. Methodology and Data Source
13.1. Methodology/Research Approach
13.1.1. Research Programs/Type
13.1.2. Market Size Estimation
13.1.3. Market Breakdown and Data Triangulation
13.2. Data Source
13.2.1. Secondary Sources
13.2.2. Primary Sources
13.3. Author List
13.4. Disclaimer
TABLE OF CONTENT
1. Shaft & Steering Market Overview
1.1. Product Overview and Scope of Shaft & Steering
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Shaft & Steering Market Size Growth Rate Analysis by Type 2020 VS 2027
1.3.1. Rear Side Shaft
1.3.2. Front Side Shaft
1.3.3. Others
1.4. Global Shaft & Steering Consumption Comparison by Application: 2020 VS 2027
1.4.1. Passenger Vehicles
1.4.2. Commercial Vehicles
1.5. Global Shaft & Steering Market Size Estimates and Forecasts by Region: 2020 VS 2027
1.5.1. North America Shaft & Steering Estimates
1.5.2. Europe Shaft & Steering Estimates
1.5.3. China Shaft & Steering Estimates
1.5.4. Japan Shaft & Steering Estimates
2. Market Competition by Manufacturers
2.1. Global Shaft & Steering Revenue Market Share by Manufacturers (2020)
2.2. Shaft & Steering Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.3. Global Shaft & Steering Average Price by Manufacturers (2016-2021)
2.4. Manufacturers Shaft & Steering Production Sites, Area Served, Product Types
2.5. Shaft & Steering Market Competitive Situation and Trends
2.5.1. Shaft & Steering Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Shaft & Steering Consumption by Region (2016-2021)
3.1. Global Shaft & Steering Consumption by Region
3.2. Global Shaft & Steering Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Shaft & Steering Consumption Growth Rate (2016-2021)
3.2.3. North America Shaft & Steering Consumption, Price and Gross Margin (2016-2021)
3.2.4. North America Shaft & Steering Consumption by Country
3.2.4.1. U.S.
3.2.4.2. Canada
3.2.5. Europe
3.2.6. Europe Shaft & Steering Consumption Growth Rate (2016-2021)
3.2.7. Europe Shaft & Steering Consumption, Price and Gross Margin (2016-2021)
3.2.8. Europe Shaft & Steering Consumption by Country
3.2.8.1. Germany
3.2.8.2. U.K.
3.2.8.3. France
3.2.8.4. Italy
3.2.8.5. Spain
3.2.9. Asia Pacific
3.2.10. Asia Pacific Shaft & Steering Consumption Growth Rate (2016-2021)
3.2.11. Asia Pacific Shaft & Steering Consumption, Price and Gross Margin (2016-2021)
3.2.12. Asia Pacific Shaft & Steering Consumption by Country
3.2.12.1. China
3.2.12.2. India
3.2.12.3. Japan
3.2.12.4. Indonesia
3.2.12.5. Malaysia
3.2.12.6. Australia
3.2.12.7. South Korea
3.2.13. South America
3.2.14. South America Shaft & Steering Consumption Growth Rate (2016-2021)
3.2.15. South America Shaft & Steering Consumption, Price and Gross Margin (2016-2021)
3.2.16. South America Shaft & Steering Consumption by Country
3.2.16.1. Brazil
3.2.16.2. Mexico
3.2.16.3. Argentina
3.2.17. Middle East and Africa
3.2.18. Middle East and Africa Shaft & Steering Consumption Growth Rate (2016-2021)
3.2.19. Middle East and Africa Shaft & Steering Consumption, Price and Gross Margin (2016-2021)
3.2.20. Middle East and Africa Shaft & Steering Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. South Africa
4. Global Shaft & Steering Consumption by Type (2016-2021)
4.1. Global Shaft & Steering Price by Type (2016-2021)
4.2. Global Shaft & Steering Revenue Market Share by Type (2016-2021)
4.2.1. Rear Side Shaft
4.2.2. Front Side Shaft
4.2.3. Others
5. Global Shaft & Steering Consumption by Application (2016-2021)
5.1. Global Shaft & Steering Price by Application (2016-2021)
5.2. Global Shaft & Steering Revenue Market Share by Application (2016-2021)
5.2.1. Passenger Vehicles
5.2.2. Commercial Vehicles
6. Key Companies Profiled
6.1. ZF TRW, NSK Ltd
6.1.1. ZF TRW, NSK Ltd Shaft & Steering Corporation Information
6.1.2. ZF TRW, NSK Ltd Shaft & Steering Product Portfolio
6.1.3. ZF TRW, NSK Ltd Shaft & Steering Consumption, Price and Gross Margin (2016-2021)
6.1.4. ZF TRW, NSK Ltd Main Business and Markets Served
6.1.5. ZF TRW, NSK Ltd Recent Developments/Updates
6.2. Wanxiang
6.3. Robert Bosch Automotive Steering GMBH
6.4. NTN
6.5. Nexteer Automotive Group
6.6. Nexteer
6.7. Neapco
6.8. KOFCO
6.9. JTEKT
6.10. Hyundai-wia
6.11. Guansheng
6.12. GKN
7. Marketing Channel, Distributors and Customers
7.1. Marketing Channel
7.2. Shaft & Steering Distributors List
7.3. Shaft & Steering Customers
8. Market Dynamics
8.1. Shaft & Steering Industry Trends
8.2. Shaft & Steering Growth Drivers
8.3. Shaft & Steering Market Challenges
8.4. Shaft & Steering Market Restraints
9. Global Shaft & Steering Consumption and Demand Forecast, by region (2022-2027)
9.1. Global Forecasted Demand Analysis of Shaft & Steering, by Regions and Country
9.1.1. North America Forecasted Consumption of Shaft & Steering by Country
9.1.2. Europe Market Forecasted Consumption of Shaft & Steering by Country
9.1.3. Asia Pacific Market Forecasted Consumption of Shaft & Steering by Region
9.1.4. Latin America Forecasted Consumption of Shaft & Steering by Country
9.1.5. Middle East and Africa Forecasted Consumption of Shaft & Steering by Country
10. Global Shaft & Steering Consumption and Demand Forecast, by Type Segments (2022-2027)
10.1. Global Forecasted Consumption of Shaft & Steering by Type Segments (2022-2027)
10.2. Global Consumption and Price Forecast by Type Segments (2022-2027)
10.2.1. Global Forecasted Growth Rate of Shaft & Steering by Type Segments (2022-2027)
11. Global Shaft & Steering Consumption and Demand Forecast, by Application Segments (2022-2027)
11.1. Global Forecasted Consumption of Shaft & Steering by Application Segments (2022-2027)
11.2. Global Consumption and Price Forecast by Application Segments (2022-2027)
11.2.1. Global Forecasted Growth Rate of Shaft & Steering by Application Segments (2022-2027)
12. Research Finding and Conclusion
13. Methodology and Data Source
13.1. Methodology/Research Approach
13.1.1. Research Programs/Type
13.1.2. Market Size Estimation
13.1.3. Market Breakdown and Data Triangulation
13.2. Data Source
13.2.1. Secondary Sources
13.2.2. Primary Sources
13.3. Author List
13.4. Disclaimer
Research Methodology
Our research studies are primarily performed in five phases which include Secondary Research, Primary Research, Subject Matter Expert Advice, Quality Check, and Final Review. The process opted for conducting thorough research to make authentic business reports is briefly described below-
Secondary Research-
- Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market.
- The secondary sources referred for the study include press releases, company annual reports, and research papers related to the industry.
- Various sources such as industry magazines, trade journals, government websites, and associations were also reviewed for gathering precise analysis on opportunities for business expansions in the market.
- Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Factiva, Bloomberg, One Source, and Hoovers, which proved to be useful for in-depth technical study of the market.
Primary Research-
- The research carried out during the desk research was verified by primary interviews. Primary research was scheduled with a number of industry experts for conducting telephonic interviews, and also our team send questionnaires through their official emails.
- The secondary data collected was then verified by various industry participants which included Segment managers, marketing managers, VPs, CEOs, purchasing managers, subject matter experts.
- An interview with the mentioned participants aids invalidation of our research findings regarding the Segment.
- It helps in the provision of first-hand data on factors such as market size, growth, regional trends, market trends, and competition in the industry. This approach makes our findings precise in order to help our clients in strategic decision-making processes.
Subject Matter Advice-
- The secondary and primary research key findings were then validated by the in-house subject matter experts having extensive experience in the market research industry.
- Specific requirements of the clients were reviewed by the experts to check for completion of the market study. Experts help in channelizing the representation skills of the analyst in terms of providing data that can be easily understood by our customers.
Quality Check-
- The analysis done by the research team was further reviewed to check for data accuracy provided to suit the clients’ specific requirements.
- This revision was done in various phases to check the data authenticity and to remove negligible errors in the final compilation.
Final Review-
- After the quality check, a final review of the report was done to look after the presentation, formatting, and to recheck if all the requirements of the clients were addressed. The next phase remains dispatch of the report to the client.
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