Japan Automotive Steering System Market

Market Overview:

Japan automotive steering system market size reached USD 2.1 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 3.6 Billion by 2033, exhibiting a growth rate (CAGR) of 6% during 2025-2033. The rapid advancements in technology, such as steer-by-wire and drive-by-wire systems, which have led to more precise and responsive steering systems to improve the overall driving experience and safety, are primarily augmenting the market.

The automotive steering system is a critical component in a vehicle that enables the driver to control the direction of the vehicle. It allows the driver to steer the vehicle, making it move in the desired direction, whether it's turning a corner, staying in a lane, or making subtle adjustments to maintain a straight course. Most modern vehicles use power steering systems, which assist the driver in turning the steering wheel with ease. These systems can be hydraulic or electric, providing varying levels of assistance based on driving conditions and speed. Hydraulic power steering uses a pump to assist with steering effort, while electric power steering relies on sensors and motors to provide assistance. The steering system includes components like the steering wheel, steering column, tie rods, and steering gear mechanism. Proper maintenance and alignment of these components are crucial for safe and precise vehicle handling. Advancements like electronic power steering and autonomous driving technology are shaping the future of automotive steering, improving safety, efficiency, and driver comfort.

Japan Automotive Steering System Market Trends:

The automotive steering system market in Japan is witnessing significant growth, driven primarily by several key factors. Firstly, the increasing demand for passenger and commercial vehicles has propelled the need for advanced and efficient steering systems. Additionally, stringent government regulations mandating the incorporation of safety features in vehicles have spurred the adoption of electronic power steering (EPS) systems, further boosting market growth. Moreover, the rising consumer preference for comfort and ease of handling has led to a surge in demand for EPS and steer-by-wire technologies. Furthermore, the rapid advancements in autonomous driving technologies have created a compelling market driver, as these systems require highly responsive and sophisticated steering systems to ensure safe and reliable vehicle control. Apart from this, the shift toward electric and hybrid vehicles has significantly impacted the steering system market, as these vehicles often rely on electric power steering for improved efficiency. Lastly, the increasing awareness of environmental sustainability and fuel efficiency, which has led to a preference for lightweight and energy-efficient steering systems, is expected to drive the automotive steering system market in Japan during the forecast period.

Japan Automotive Steering System Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on type, component, and vehicle type.

Type Insights:

• Electric Power Steering (EPS)
• Hydraulic Power Steering (HPS)
• Electro-Hydraulic Power Steering (EHPS)
• Manual Steering

The report has provided a detailed breakup and analysis of the market based on the type. This includes electric power steering (EPS), hydraulic power steering (HPS), electro-hydraulic power steering (EHPS), and manual steering.

Component Insights:

• Steering Column
• Steering Wheel Speed Sensors
• Electric Motors
• Hydraulic Pumps
• Others

A detailed breakup and analysis of the market based on the component have also been provided in the report. This includes steering column, steering wheel speed sensors, electric motors, hydraulic pumps, and others.

Vehicle Type Insights:

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

The report has provided a detailed breakup and analysis of the market based on the vehicle type. This includes passenger cars, light commercial vehicles, and heavy commercial vehicles.

Regional Insights:

• Kanto Region
• Kansai/Kinki Region
• Central/ Chubu Region
• Kyushu-Okinawa Region
• Tohoku Region
• Chugoku Region
• Hokkaido Region
• Shikoku Region

The report has also provided a comprehensive analysis of all the major regional markets, which include Kanto Region, Kansai/Kinki Region, Central/ Chubu Region, Kyushu-Okinawa Region, Tohoku Region, Chugoku Region, Hokkaido Region, and Shikoku Region.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Latest News and Developments:

• In July 2024, RHL approved the acquisition of 51% stakes in Rane NSK Steering Systems Private Limited from joint venture partner NSK Limited. This acquisition further expands our group’s expertise in steering systems.
• In June 2023, Bosch and Arnold NextG partnered to accelerate the large scale production of steer-by-wire systems, which will replace mechanical connections with electronic controls.

Japan Automotive Steering System Market Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Japan automotive steering system market from 2019-2033
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Japan automotive steering system market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Japan automotive steering system industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.