Key Findings
The North America automotive steering system market is evaluated to develop with a CAGR of 4.34% over the forecast period of 2021 to 2028. The regional market’s growth is credited to the increasing applications of electro-hydraulic power steering systems, the high per capita ownership of vehicles in the United States, as well as the rise in automobile production.

Market Insights
The North America automotive steering system market growth analysis constitutes the assessment of Canada and the United States. The automotive industry in Canada is concentrated in the Great Lakes automotive production cluster, the heart of North America’s largest vehicle manufacturing region. According to industry sources, the country is one of the top 12 makers of light vehicles across the globe. Moreover, five international original equipment manufacturers (OEMs) assemble over 1.4 million vehicles at their Canadian plants annually, including General Motors (GM), Stellantis, Toyota, Honda, and Ford. The plants are supplied by a vibrant ecosystem of approximately 700 parts suppliers, encompassing domestic Tier 1 companies such as Magna, Martinrea, and Linamar.
Conversely, companies in Canada are also leading the way in terms of the development of transformative automotive technologies. The country’s expertise in the avenue of emerging technologies attracts key investments in autonomous as well as connected vehicle research from global OEMs, in addition to tech giants like Nvidia, Google, and Uber. Therefore, these factors are set to augment the automotive steering system market growth in Canada during the forecasting period.

Competitive Insights
Some of the key players operating in the market are Nexteer Automotive Corporation, Hitachi Automotive Systems, etc.
Our report offerings include:

  • Explore key findings of the overall market
  • Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
  • Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
  • Market Segmentation cater to a thorough assessment of key segments with their market estimations
  • Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
  • Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
  • Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
  • Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments