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Last Updated: Apr 25, 2025 | Study Period: 2023-2030
In medium- or heavy-duty commercial vehicles and buses, steering shafts serve as the link between the steering column and steering gear. An essential component of a vehicle's mobility is its steering system.
The steering system's primary duties include turning the vehicle according to the driver's wishes, providing directional stability, translating the steering wheel's rotation into an angular turn of the front wheels, and preventing road shock from reaching the driver's hands. commonly found in trucks, large/heavier SUVs, and big vehicles.
The steering shaft, which resembles a bolt in that it has a threaded rod at the end, holds the steering wheel in place.
The rod is turned when the steering wheel is turned. Consequently, the block is moved when it spins. The outside of the block has gear teeth carved into it. They cause a gear to turn, which moves the pitman arm. Ball bearings are embedded in the threads of the rod, and as the gear rotates, they move back and forth through it.
A worm gear is linked to the steering shaft at one end. It directly meshes with a sector gear. The steering shaft and worm gear are turned by turning the steering wheel. The sector gear's teeth move along the worm gear and the Pitman arm as it revolves around its axis. The wheel is regarded as humanity's most significant innovation. It made long-distance travel conceivable.
The Global Automotive steeringShaftmarket accountedfor $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.
With the introduction of its new Modular Column-Assist EPS System, Nexteer Automotive has today announced the extension of its Electric Power Steering (EPS) line (mCEPS).
Additionally, Nexteer's specially designed, high-performance torque and rotation angle sensors offer exceptional noise, vibration, and harshness (NVH) performance as well as a smooth, accurate steering feel, which increases drivers' sense of connection to the road.
According to Nexteer Automotive, "For vehicle types that have utilised conventional CEPS systems in the past, Nexteer's mCEPS system opens up new options." With a platform design and an extendable electronic control system, mCEPS enables us to satisfy OEM clients' requests for a sophisticated, bespoke, and affordable steering system that is adaptable to customer packaging and other requirements.
| Sl no | Topic |
| 1 | Market Segmentation |
| 2 | Scope of the report |
| 3 | Abbreviations |
| 4 | Research Methodology |
| 5 | Executive Summary |
| 6 | Introduction |
| 7 | Insights from Industry stakeholders |
| 8 | Cost breakdown of Product by sub-components and average profit margin |
| 9 | Disruptive innovation in the Industry |
| 10 | Technology trends in the Industry |
| 11 | Consumer trends in the industry |
| 12 | Recent Production Milestones |
| 13 | Component Manufacturing in US, EU and China |
| 14 | COVID-19 impact on overall market |
| 15 | COVID-19 impact on Production of components |
| 16 | COVID-19 impact on Point of sale |
| 17 | Market Segmentation, Dynamics and Forecast by Geography, 2023-2030 |
| 18 | Market Segmentation, Dynamics and Forecast by Product Type, 2023-2030 |
| 19 | Market Segmentation, Dynamics and Forecast by Application, 2023-2030 |
| 20 | Market Segmentation, Dynamics and Forecast by End use, 2023-2030 |
| 21 | Product installation rate by OEM, 2023 |
| 22 | Incline/Decline in Average B-2-B selling price in past 5 years |
| 23 | Competition from substitute products |
| 24 | Gross margin and average profitability of suppliers |
| 25 | New product development in past 12 months |
| 26 | M&A in past 12 months |
| 27 | Growth strategy of leading players |
| 28 | Market share of vendors, 2023 |
| 29 | Company Profiles |
| 30 | Unmet needs and opportunity for new suppliers |
| 31 | Conclusion |
| 32 | Appendix |
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