Global Bus Steering Market 2021-2026

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    By Type

    1. Mechanical Steering System
    2. Power Steering System


    By Application

    1. Single-Deck Bus
    2. Double-Deck Bus
    3. Others


    By Geography

    • US
    • Europe
    • China
    • India
    • Latin America
    • ROW



    During the first half of 2021, EU commercial vehicle registrations went up by 36.9% to 1 million units, reflecting the contribution of the big gains recorded between March and May 2021. Most of the region’s markets posted double-digit percentage gains, including the four largest ones: Italy (+53.7%), Spain (+38.4%), France (+36.4%) and Germany (+21.7%).


    In UK commercial vehicle (CV) production grew to 5,808 units in June 2021. The production increased 39.6% compared to the same month in 2020, when many plants were operating at reduced capacity because of pandemic restrictions. 


    • The registrations of new buses and coaches in the European Union were 9.4% higher than in the same month last year. Germany (+24.0%), Italy (+23.2%) and Spain (+18.1%) all recorded significant gains last month, while France was the only major market to post a decline (-14.1%).


    Mercedes Benz Citaro employs ZF Power Steering whereas Mercedes Benz Tourismo model has ZF 8098 Servocom steering system. Volvo uses ZF Hydraulic Power steering system   



    In China, suppliers are facing two major problems, 1) There is an intense price war (not sustainable in the long run) among suppliers and 2) OEMs are putting up ambitious sales targets which are of-course followed by multiple downward revisions throughout the year. In these circumstances it will be very difficult for any supplier to improve their revenues and gross margin.

    • From January to June 2021, China sold 16,754 units of large- and medium-sized new energy buses, down by 6% Y-o-Y. The top 3 players and their market share during the period was Yutong (3,744 units; 22.35%), BYD (2,220 units; 13.25%) and CRRC Electric (1,418 units; 8.46%). 



    Passenger commercial vehicle segment experienced a washout year in FY-2021 ended in March 2021. Sales of passenger medium and heavy CVs dropped 81.7% year-on-year and those of passenger light CVs dropped 73.6%, even as the goods counterparts of these sub-segments dropped just 16.8% and 11.5%.


    In India, TATA MOTORS Buses are provided with Hydraulic power steering with adjustable steering column as Steering system. Some of the other OEMs and the steering system fitted in them were

    • Ashok Leyland buses are provided with integral power steering.
    • EICHER buses are provided with power, Tilt and Telescopic steering.
    • BharatBenz buses are provided with Power steering with adjustable and tilt able steering 



    As we enter into the period of slow recovery post the pandemic, most global producers would be looking at changing strategy by adopting a faster and leaner approach to fast-altering marketing conditions. But the challenge is arduous for those with a limited bandwidth. 


    The outbreak of Covid-19 automotive industry has been drastically impacted, it also has significantly impacted the product demand and supply chain activity, hampering the growth of the market. Factors such as disruptions in the supply chain, permanent closing of small factories owing to the economic crisis, and unavailability of laborers have impacted the growth of the automotive steering system market severely. It also has affected consumer purchasing behavior, as people are focused on buying essential goods owing to the economic crisis. However, the manufacturing plants, the automotive industry, and several other businesses are functioning slowly, which is hindering the automotive steering system market.


    Governments and authorities around the globe-imposed restrictions on transport and mobility at an unprecedented scale and magnitude. Physical distancing had a significant impact on mobility behavior and preferences. Many people switched to a transport mode that reduces the risk of infection. Many cities across the world saw that private cars, walking, and biking have gained the most share since the pandemic began, while bus ridership declined. This has resulted in low demand for the bus market.



    • Canada’s Minister of Natural Resources, announced the Hydrogen Strategy Implementation Strategic Steering Committee, which will advance and measure the progress outlined in the Hydrogen Strategy for Canada launched in December 2020.
    • The Citaro hybrid by Mercedes-Benz is equipped with intelligent eco-steering, an electrohydraulic steering system. It operates in a need-optimized way and likewise helps reduce fuel consumption in local city transport.
    • The 2021 GL6 incorporates the latest Buick eConnect 3.0 connectivity system. It runs on a standard 10.25-inch LED instrument cluster display and center console that are fully integrated. The IP display behind the steering wheel supports various configurations of driver-centric information and enables full-screen navigation and mapping functionality.



    JTEKT and Nexteer are specialist steering suppliers who also have an adjacent drive-line business. 

    Japan headquartered JTEKT generates ~$6-$7 billion per annum from its steering system business and is a preferred supplier to many Japanese OEMs. It had more than 25%  share of the global automotive steering system market in 2019.

    ZF, Bosch and Nexteer are market leaders in the commercial vehicle segment.

    Nexteer is the market leader in North America and GM North America is its biggest customer (derives ~30% of its global revenues), followed by other OEMs.

    Mando’s penetration into HKMC’s medium-duty commercial truck ADAS business and its new business for the widening opportunities secured it a  large-scale suspension order from VW and this has increased the net profit of the company. 



    • ZF 
    • Bosch 
    • Global Steering Systems
    • RIM
    • Daimler
    •  JTEKT
    • NSK
    •  Mando
    • Showa
    • ThyssenKrupp
    •  NamYang
    •  Xiao Lin Industry
    •  Hyundai Mobis



    • Market Size and Forecast, by geography($M)
    • Opportunities and risks in   Bus Steering Market 
    • Important technology trends and regulatory changes
    • 5 key predictions for next 5 years in  Bus Steering Market
    • Competitive landscape and market share of leading vendors


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    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, 2021-2026
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2021-2026
    19 Market Segmentation, Dynamics and Forecast by Application, 2021-2026
    20 Market Segmentation, Dynamics and Forecast by End use, 2021-2026
    21 Product installation rate by OEM, 2021
    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, 2021
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix


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