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Automotive Steering Motor Market size is set to grow by USD 456.2 million from 2024-2028, Key developments boost the market, Technavio

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NEW YORK, Aug. 1, 2024 /PRNewswire/ — The global automotive steering motor market size is estimated to grow by USD 456.2 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.5% during the forecast period. key developments is driving market growth, with a trend towards continuous advances in automotive steering technology. However, increasing cost pressure from demand-side poses a challenge. Key market players include Allied Motion Technologies Inc., AMK Holding GmbH and Co. KG, BorgWarner Inc., Brose Fahrzeugteile SE and Co. KG, DENSO Corp., Hitachi Ltd., HL Mando Co. Ltd., Hyundai Motor Group, Johnson Electric Holdings Ltd., LG Innotek Co. Ltd., MAHLE GmbH, Melrose Industries Plc, Mitsuba Corp., Nexteer Automotive Group Ltd., Nidec Corp., NSK Ltd., Robert Bosch GmbH, thyssenkrupp AG, Toyota Motor Corp., and ZF Friedrichshafen AG.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Automotive Steering Motor Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 4.5%

Market growth 2024-2028

USD 456.2 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.23

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 57%

Key countries

China, US, Japan, Germany, and India

Key companies profiled

Allied Motion Technologies Inc., AMK Holding GmbH and Co. KG, BorgWarner Inc., Brose Fahrzeugteile SE and Co. KG, DENSO Corp., Hitachi Ltd., HL Mando Co. Ltd., Hyundai Motor Group, Johnson Electric Holdings Ltd., LG Innotek Co. Ltd., MAHLE GmbH, Melrose Industries Plc, Mitsuba Corp., Nexteer Automotive Group Ltd., Nidec Corp., NSK Ltd., Robert Bosch GmbH, thyssenkrupp AG, Toyota Motor Corp., and ZF Friedrichshafen AG

Market Driver

The automotive steering market is experiencing advancements due to increasing environmental concerns and emission norms. Manufacturers are investing heavily in research and development to improve engine efficiency and reduce emissions. This has led to innovations in steering system design and technology. The integration of electronics and safety systems is a key trend, with companies like DENSO introducing driving support systems and Nexteer Automotive Corporation developing new electronic architectures. Electromechanical steering systems are gaining popularity, offering improvements in comfort, efficiency, handling, and safety. These factors contribute to the expected growth of the global automotive steering market during the forecast period. 

The Automotive Steering Motor market is experiencing significant trends in 2021. Mining equipment manufacturers are integrating steering motors into heavy machinery for improved maneuverability. Advanced Driver Assistance Systems (ADAS) like parallel parking, lanekeeping assist, and highway assist are driving demand for steering motors in cars. Autonomous mobility and connected cars are also boosting the market, with steering-mounted electronics and automobile dashboard-based features becoming increasingly popular. However, challenges such as lockdowns, manufacturing plant closures, travel bans, and logistics disruptions have impacted production. Steering motor manufacturers are focusing on failsafe mechanisms to ensure safety. Steering wheel torque sensors and Electronic Control Units (ECUs) are key components. The dual-pinion segment is gaining traction due to its fuel economy benefits and improved steering feel. Key players include ZF, manufacturers of Electric Power Steering (EPS), and those focusing on hybrid systems. Steering wheel speed and position sensors, non-contact sensors from companies like LeddarTech, and steering-assisted safety features like Anti-Skid Reactive (ASR) and Dynamic Steering Response (DSR) are also shaping the market. Vehicle production, sales, and emission norms for luxury vehicles are influencing the market landscape. 

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Market Challenges

In the current automotive industry, component manufacturers encounter challenges with stringent quality requirements and cost pressures from Original Equipment Manufacturers (OEMs) due to increasing consumer demand and intense competition. Electronic components, particularly functional electronics like electric steering systems, face the highest cost pressure. OEMs demand high-quality components at restricted prices, pushing cost pressures across the value chain. To maintain profitability, automakers explore options such as outsourcing manufacturing to low-cost countries like China, South Korea, and Taiwan. However, rising labor costs in these countries may challenge the sustainability of low production costs in the forecast period. To remain competitive, stakeholders must devise growth strategies while maintaining quality and controlling costs.The Automotive Steering Motor market faces several challenges in various vehicle segments. In the passenger car segment, the shift to Electric Vehicles (EVs) and Electrified Power Steering (EPS) systems is a major trend. However, the implementation of these systems in Heavy-duty vehicles, Pickups, and Commercial Vehicles, including Tractors and Construction Equipment, poses unique challenges due to their weight and power requirements. Key players like Schaeffler, Infineon Technologies, and OEMs are investing in developing lightweight steering solutions to address these challenges. However, cost and profitability remain critical factors, especially in the context of evolving emissions standards and automotive electrification. Policies and incentives play a crucial role in shaping the market. For instance, the European Union’s CO2 emissions standards and the US’s Low Emission Vehicle (LEV) program are driving the adoption of EPS systems. The market for steering motors includes steering columns, steering boxes, and electric components like motors and vehicle control units. Hydraulic power steering systems continue to dominate, but electrically assisted systems are gaining popularity due to their fuel efficiency and environmental benefits. In conclusion, the Automotive Steering Motor market is undergoing significant changes due to the shift to EVs and electrification, weight requirements, and emissions standards. Companies must innovate to meet these challenges while ensuring cost-effectiveness and profitability.

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Segment Overview 

This automotive steering motor market report extensively covers market segmentation by

Application 1.1 Passenger car1.2 Commercial vehicleGeography 2.1 APAC2.2 Europe2.3 North America2.4 South America2.5 Middle East and Africa

1.1 Passenger car- The Automotive Steering Motor Market is experiencing significant growth due to the increasing demand for electric and hybrid vehicles. These vehicles require an electric steering system, which is driving the market forward. Major automakers are investing in research and development to improve fuel efficiency and reduce emissions, making electric steering motors an essential component. Additionally, the growing trend towards autonomous driving is also expected to boost market growth. Overall, the Automotive Steering Motor Market is poised for continued expansion in the coming years.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Automotive Steering Motor Market is experiencing significant growth due to the shift towards electrification in the automotive industry. Emissions standards are driving the demand for Electrically Assisted Power Steering (EAPS) systems, which reduce CO2 emissions by up to 10% compared to traditional hydraulic power steering. The passenger car segment and Electric Vehicles (EVs) are the major consumers of steering motors. OEMs are integrating steering-mounted electronics and automobile dashboard-based systems, including radio and music, cruise control, and climate control, into steering motors. However, the market is facing challenges due to lockdowns and travel bans, which have affected the production of vehicles and the logistics of raw material shipments. Infineon Technologies and other key players are investing in research and development to improve the efficiency and performance of steering motors. The construction of operational plants and the manufacturing of electric components are also crucial for the growth of the steering motor market.

Market Research Overview

The Automotive Steering Motor Market is experiencing significant growth due to the increasing adoption of automotive electrification and emissions standards. Electric Vehicles (EVs) and Electrically Assisted Power Steering (EAPS) systems are becoming increasingly popular in both the passenger car segment and commercial vehicles. Hydraulic power steering is being gradually replaced by Electrically Assisted Steering (EAS) systems, which use electric components and motors to assist the driver. The vehicle control unit plays a crucial role in managing the steering system, ensuring safety features such as Advanced Driver Assistance Systems (ADAS), lane keeping assist, and highway assist function optimally. The steering market is not limited to automobiles alone, with construction and mining equipment also adopting steering motor technology for improved maneuverability and fuel economy. Steering-mounted electronics and automobile dashboard-based systems, including radio and music, cruise control, climate control, call answering, and steering-assisted safety features, are driving market growth. The market has been impacted by various factors, including lockdowns, manufacturing plant closures, travel bans, and logistics disruptions. However, the shift towards autonomous mobility, connected cars, and failsafe mechanisms is expected to offset these challenges. Steering wheel sensors, torque sensors, and ECUs are essential components of the steering system, with non-contact sensors and LeddarTech’s LiDAR technology playing a significant role in enhancing steering accuracy. Manufacturers of EPS, such as Infineon Technologies, ZF, AKC, and Schaeffler, are investing in hybrid systems and developing lightweight steering solutions to improve cost and profitability. The market also includes steering columns, steering boxes, and steering systems for pickups, heavy-duty vehicles, and tractors. Policies and incentives are driving the adoption of steering motor technology in luxury vehicles, with emission norms and steering wheel speed and position sensors playing a crucial role in ensuring fuel economy and steering feel.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationPassenger CarCommercial VehicleGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Automotive Seat Heater Market to Reach $5.5 Billion, Globally, by 2033 at 6% CAGR: Allied Market Research

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Key factors contributing to the growth of the automotive heat seater market include advancements in heating technology, such as the integration of more efficient heating elements and improved temperature control systems.

WILMINGTON, Del., Sept. 20, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Automotive seat heater Market by Type (Carbon Heater and Composite Heater), Vehicle Type (Passenger Cars and Commercial Vehicles), and Sales Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the automotive seat heater market was valued at $3.1 billion in 2023, and is estimated to reach $5.5 billion by 2033, growing at a CAGR of 6% from 2024 to 2033.

The global automotive seat heaters market is driven by increased demand for comfort and customization. As increasing numbers of individuals utilize the roads, the number of affordable vehicles available in recent years has skyrocketed. As a result, there is a greater need for vehicles with interiors that are both visually appealing and practical. The market for vehicle interior materials is being driven by rising consumer demand for customization and technical developments across the industry. In response to client demand, companies are now offering customization choices for creating modern interiors. Consumers increasing health consciousness is also driving the development of environmentally friendly automotive interior materials that contribute to increased comfort. 

Request Sample of the Report on Automotive Seat Heater Market   Forecast 2033: https://www.alliedmarketresearch.com/request-sample/A323768

Prime determinants of growth 

The growing level of competition in the automotive industry is a primary driver of the automotive seat heater market’s expansion. Furthermore, improving consumer affordability, rising consumer income, and the availability of easy financing to purchase a vehicle are all driving forces in the global automobile sector. Furthermore, expansion in the automobile industry causes growth in the global market. Rising popularity of carbon fiber technology, rising demand for comfort and energy efficiency in vehicles, and rising preferences for high-end passenger cars are some of the major and insightful factors that will most likely drive the growth of the automotive seat heater market during the forecast period. The health benefits, such as reduction from discomfort backs and rapid warming, are driving market expansion. The expanding aftermarket sales of car seat heaters are driving the market forward.

Have a Question? Connect to our Analyst – https://www.alliedmarketresearch.com/connect-to-analyst/A323768

By Type 

The carbon heater segment is expected to grow faster throughout the forecast period.

The carbon heater segment is anticipated to experience faster growth in the automotive seat heater market. Carbon fiber meshed weave heating pads will remain the largest market segment as this type of seat heater ensures good strength and requires very low voltage to produce heat. a growing preference for energy-efficient and environmentally friendly components, aligning with the broader push towards sustainable automotive solutions. The integration of advanced technologies, such as automatic climate control systems that adjust seat heating based on ambient temperature and individual preferences, is becoming increasingly popular.  

By Vehicle Type

The passenger car segment is expected to grow faster throughout the forecast period.

The passenger car segment is anticipated to experience growth in the automotive seat heater market. The increasing expenditure on passenger and driver comfort. The development of premium features and the surge in passenger vehicle numbers in Europe and North America significantly contribute to this growth. Additionally, there is a rising demand for SUVs and luxury vehicles in emerging markets. Automotive manufacturers are continuously innovating electronic technologies, which create new opportunities for the application of heated seats in passenger cars. This trend is further bolstered by the emphasis on enhancing vehicle comfort and the integration of advanced climate control systems. 

Procure Complete Report (324 Pages PDF with In-depth Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/automotive-seat-heater-market-A323768

By Sales Channel

The aftermarket segment is expected to grow faster throughout the forecast period.

The aftermarket segment is anticipated to experience growth in the automotive seat heater market. One of the standardization of temperature control seats in various mid-range and high-end vehicles is helping the OEM section of the automobile seat heater industry. Seat heater replacement rates are predicted to rise due to excessive wear and tear, as well as changing climatic circumstances in cold locations, driving up aftermarket sales. When compared to OEM products, aftermarket products are more cost-effective. Furthermore, owners of vehicles without seat heaters add this equipment in the aftermarket, which boosts seat heater aftermarket sales.

By Region

Europe to maintain its dominance by 2033.

Europe is expected to maintain its dominance in the automotive heat seater market by 2033 owing to robust industrialization, infrastructural development, and growing investments in automotive and manufacturing sectors. has witnessed a surge in the popularity and necessity of automotive seat heaters. As the nation’s economy expands and consumer prosperity grows, there is a corresponding increase in the demand for vehicles equipped with advanced comfort amenities. Once considered a luxury, seat heaters are now becoming more accessible to a wider demographic, fueling their adoption among consumers.

Europe will maintain its pivotal role as a significant market for automotive seat heaters. This is primarily due to the increasing demand from end users who prioritize cabin comfort, especially in the winter months. Seat heaters are favored for their ability to significantly enhance occupant comfort during this season.

Players: –

Continental AGPanasonic CorporationGentherm IncorporatedII-VI IncorporatedRoadwire LLCRostra Precision Controls Inc.Firsten Automotive Electronics Co., Ltd.Guangzhou Tachibana Electronic Co., Ltd.SINOMASChampion Auto Systems

The report provides a detailed analysis of these key players in the global automotive seat heater market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Recent Industry News

In August 2020, Lear and Gentherm introduced INTU™ Thermal Comfort Seating with ClimateSense™ Technology.

For More In-depth Insights: https://www.alliedmarketresearch.com/automotive-seat-heater-market-A323768

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Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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/R E P E A T — MEDIA ADVISORY – Minister Wilkinson to Make a Critical Minerals Infrastructure Announcement/

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VANCOUVER, BC, Sept. 19, 2024 /CNW/ – The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, and Ranj Pillai, the Premier of Yukon, will make a funding announcement in support of critical minerals infrastructure projects. A media availability will follow.

Date: September 20, 2024

Time: 10:30 a.m. PT

All accredited media are asked to pre-register by emailing media@nrcan-rncan.gc.ca. A dial-in line is available for media and will be provided upon registration.

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SOURCE Natural Resources Canada

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Olink Proteomics Announces the ‘Olink Proteomics World’ Virtual Conference: A Novel Platform Exploring the Latest Advancements in Proteomics and Proteogenomics

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The ‘Olink Proteomics World’ Virtual Conference will bring together scientists from around the globe to explore the latest advancements in proteomics and proteogenomics across fields such as immunology, oncology, neuroscience, aging, and inflammation on September 26th, 2024.

WALTHAM, Mass., Sept. 20, 2024 /PRNewswire-PRWeb/ — Olink Proteomics, part of Thermo Fisher Scientific, a leading provider of advances proteomics solutions, is exited to announce its upcoming virtual conference, Olink Proteomics World, on September 26th, 2024.

The digital event features presentations from esteemed scientists and provides a platform to connect with peers, identify potential collaborations, and explore advanced protein biomarker discovery tools and results.

This innovative virtual conference will bring together scientists from around the globe to explore the latest advancements in proteomics and proteogenomics across fields such as immunology, oncology, neuroscience, aging, and inflammation. The digital event features presentations from esteemed scientists and provides a platform to connect with peers, identify potential collaborations, and explore advanced protein biomarker discovery tools and results.

Our lineup of esteemed presenters will cover a wide range of topics, including:

The Aged Tumor Microenvironment: Understanding how aging influences the tumor microenvironment and its implications for cancer therapy.Infectious Diseases Dynamics: Unravelling how proteomics can enhance our understanding and management of infectious diseases.Alzheimer’s Diagnostics and Disease Monitoring: Exploring the latest tools and biomarkers for early detection and monitoring of Alzheimer’s disease.Aging Mechanisms: Insights into the biological processes of aging and how they can inform healthcare strategies.Predicting Disease Risks: Utilizing multiomics data to forecast disease risks and improve preventive measures.Genetics and Proteomics of Obesity: Investigating the complex interplay between genetics, proteomics, and obesity.Microbiome Transplantation Effects: Evaluating the impact of faecal transplants on human health and disease.Biomarker Discovery in Multiple Sclerosis: Cutting-edge research on identifying biomarkers for better diagnosis and treatment of Multiple Sclerosis.

In addition to these topics, our speakers will delve into various aspects of multiomics research, offering insights into how integrated approaches are shaping the future of personalized medicine and healthcare.

To see the full agenda and list of speakers for this event click here.

In addition to expert presentations, attendees can participate in interactive sessions, visit the digital poster hall, and engage in real-time Q&A sessions with speakers.

For further information about the event & to register for free, click here.

About Olink Proteomics
Olink’s mission is to accelerate proteomics together with the scientific community, to understand real-time biology and gain actionable insights into human health and disease. Our innovative solutions deliver highly sensitive and accurate protein quantification, giving scientists the power to investigate complex biological processes with precision.

About Labroots
Labroots is the leading scientific social networking website, & primary source for scientific trending news & premier educational virtual events & webinars & more. Contributing to the advancement of science through content sharing capabilities, Labroots is a powerful advocate in amplifying global networks & communities. Founded in 2008, Labroots emphasizes digital innovation in scientific collaboration & learning. Offering more than articles & webcasts that go beyond the mundane & explore the latest discoveries in the world of science, Labroots users can stay atop their field by gaining continuing education credits from a wide range of topics through their participation in the webinars & virtual events.

Media Contact

Akshay Masand, Labroots, 714-463-4673, akshay.masand@labroots.com, https://olink.com/ 

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