市場調查報告書
商品編碼
1516945
全球越野(OTR)車輛動力轉向市場評估:依類型、組件、通路、地區、機會、預測(2017-2031年)OTR Vehicle Power Steering Market Assessment, By Type, By Component, By Distribution Channel, By Region, Opportunities and Forecast, 2017-2031F |
全球越野(OTR)車輛動力轉向市場規模預計將從2023年的 25.9 億美元增至2031年的 44.1 億美元,預計2024-2031年年複合成長率為 6.87。近年來,由於消費者對車輛安全意識的提高、汽車產量的增加以及對安全性和駕駛舒適性的需求不斷增加,該市場呈現顯著成長,並且未來將繼續快速擴張。車輛和應用的技術創新可以實現精確控制並降低事故風險,增加預測期內全球越野(OTR)車輛動力轉向市場的需求。在各個行業中,越野(OTR)車輛動力轉向在提高效率和生產力方面發揮關鍵作用,為主要參與者創造了新的市場成長機會。 OTR 動力轉向系統還提高了車輛運動精度,使重型設備的操縱更加容易。動力轉向系統採用先進的感測器,有助於監測地形條件和車速等重要變數。這種創新技術的發展和在預測期內推動市場成長滿足市場不斷成長的需求。
此外,世界各國政府宣傳減少排放的努力,促進越野(OTR)車輛動力轉向市場的成長。控制污染和減少重型設備對環境影響的法規日益嚴格,導致越野(OTR)車輛動力轉向的需求不斷增加,因為與傳統液壓系統相比,其具有能源效率和較低排放的優勢。此外,全球市場的主要參與者宣布成立合資企業和合作夥伴關係,以擴大其足跡。
例如,2023年 7月,NSK Ltd. 宣布將與 Japan Industrial Solutions III Investment Limited Partnership 簽訂 49.9:50.1%的合資協議,並開始三項主要活動。管理NSK全球轉向業務的子公司NSK Steering & Control Inc.將透過第三方配股向JIS發行類別股,提供NS&C 50.1%的投票權。此外,JIS和NSK將共同管理NS&C,NS&C將在透過第三方配股增資前向NSK支付特別股利。
日益成長的客製化趨勢和技術進步推動市場成長
客製化、創新功能整合以及快速的技術進步是全球越野(OTR)汽車動力轉向市場的流行趨勢。 OTR 車輛中的各種應用需要可自訂、採用先進技術並可根據具體要求進行調整的動力轉向系統。這種先進性、適應性和客製化要求是動力轉向市場的最大驅動力,因為它滿足了各種 OTR 車輛的要求。營運商尋找可自訂的動力轉向解決方案,以適應車輛負載、尺寸和決策。此外,遠端資訊處理和連接解決方案的整合已擴展到支援診斷、遠端監控和預測性維護。這些技術進步將滿足市場需求並推動成長,因為營運商致力於利用先進的動力轉向系統來獲得跨行業的競爭優勢。
例如,2022年 1月,IMUZAK Inc. 宣布推出方向盤顯示系統,引進自由浮動的視覺通知和儀表板控制。這項創新實現了接收訊息的能力,讓駕駛切換到來電。
遠端資訊處理與駕駛輔助功能的整合推動市場成長
OTR 車輛中的動力轉向系統通常配備操作員輔助功能,以提高生產率和安全性。這些功能包括自動轉向控制、防撞技術、障礙物偵測系統等等。但是,透過整合遠端資訊處理,可以即時監控動力轉向系統的效能、運作狀況和有效性。這些資料被發送到中央控制中心,以促進預測性維護和遠端診斷。這些技術依靠專門且回應靈敏的動力轉向系統來高效運作。隨著安全法規日益嚴格,操作員尋找有助於改善車輛控制並提供全面保護的動力轉向系統,尤其是在惡劣的越野條件下。市場主要參與者推出新產品,以滿足城市交通對先進轉向和增強操控性不斷成長的需求。
本報告研究和分析了全球越野(OTR)車輛動力轉向市場,提供市場規模和預測、市場動態以及主要參與者的現狀和前景。
Global off-the-road (OTR) vehicle power steering market is estimated to observe a CAGR of 6.87% during the forecast period 2024-2031, rising from USD 2.59 billion in 2023 to USD 4.41 billion in 2031. The market has witnessed significant growth in recent years and is projected to maintain a rapid pace of expansion in the coming years due to increased awareness among consumers concerning vehicle safety, rising production of vehicles, and growing demand for safety and operator comfort. Technological innovations in vehicles and applications allow precise control and decrease the risk of accidents, increasing the global OTR vehicle power steering market demand in the forecast period. In different industries, the OTR vehicle power steering plays an important role in improving efficiency and productivity, resulting in the introduction of new market growth opportunities for key participants. Also, OTR power steerings improve the movements of a vehicle precisely and make control easier to navigate heavy equipment. Power steering systems are incorporated with advanced sensors that help to monitor critical variables, including terrain conditions, vehicle speed, and many others. These innovative technological developments address the growing market requirements coupled with propelling market growth in the forecast period.
In addition, governments across the globe are spreading awareness concerning emission reduction initiatives, increasing the growth of the OTR vehicle power steering market. Growing strict regulations to curb pollution and mitigate the environmental impact of heavy machinery surge the demand for OTR vehicle power steering as these are helpful in energy efficiency, and lower emissions compared to traditional hydraulic systems. Moreover, key participants in the global market are significantly announcing joint ventures and partnerships to expand their footprint.
For instance, in July 2023, NSK Ltd. announced a 49.9:50.1% joint venture agreement with Japan Industrial Solutions III Investment Limited Partnership to set out three primary actions. NSK Steering & Control Inc, a subsidiary managing NSK's global steering operation, will issue class shares through a third-party allotment to JIS, providing 50.1% of NS&C voting rights. In addition, JIS and NSK will co-manage NS&C, and before the third-party allotment, NS&C will distribute a special dividend to NSK.
Rising Trends of Customization and Technological Advancements Push Market Growth
In the global OTR vehicle power steering market, customization, integration of innovative features, and rapid technological advancement are the popular trends. The different applications of OTR vehicles demand power steering systems that can be customized, technologically advanced, and adjusted to precise requirements. This requirement for advancements, adaptability, and customization is a foremost factor in the power steering market, as it addresses the requirements of different OTR vehicles. Operators look for power steering solutions that can be customized to fit the vehicle's load capacity, size, and determination. Also, the integration of telematics and connectivity solutions is now widened, enabling diagnostics, remote monitoring, and predictive maintenance. These technological advancements address market demand and propel growth as operators focus on utilizing advanced power steering systems to obtain a competitive edge in their industries.
For instance, in January 2022, IMUZAK Inc. announced the launch of a steering wheel display system to introduce free-floating visual notifications and dashboard controls. This innovation allows features of receiving messages and alters the driver to inbound phone calls.
Integration of Telematics and Operator Assist Features Drives Market Growth
Power steering systems in OTR vehicles are often equipped with operator assist features to foster productivity and safety. These features can involve automated steering controls, collision avoidance technology, and obstacle detection systems. However, integration of telematics allows real-time monitoring of power steering system performance, health, and effectiveness. This data can be sent to central control centers, predictive maintenance, and facilitating remote diagnostics. These technologies rely on specific and responsive power steering to operate efficiently. With increasingly strict safety regulations, operators are seeking power steering systems that improve vehicle control and aid in complete protection, especially in tough off-road conditions. Key participants in the market are launching new products to address the rising demand for advanced steering and enhanced handling in city traffic.
For instance, in August 2023, Georg Friedrich Wilhelm Schaeffler announced a new mechatronic rear-wheel steering system to enhance agility on bends, improve handling in city traffic, improve lane-change stability, and make the vehicle easier to park.
Government Rules and Regulatory Compliance Propels Market Demand
Strict government rules and regulations on vehicle safety drive the global OT vehicle power steering market in the forecast period. Governments globally are starting to spread awareness about mitigating the environmental impact of heavy vehicles and controlling pollution, propelling demand for OTR vehicle power steering as this helps handle heavy loads efficiently, which further decreases the emission of carbon. Key participants are compelled to produce those products that are effective for government regulatory compliance. In addition, governments across the countries are introducing more rules and regulatory standards to benefit the manufacturers and improve the safety of vehicles coupled with drivers and passengers.
For instance, in January 2024, the Ministry of Heavy Industries announced the expansion of a Production Linked Incentive Scheme tenure for auto components and automobiles by one year to offer greater clarity and support to the sector, encouraging competitiveness and growth.
Electric Power Steering Segment Dominates the Global Market Growth, By Type
The electric power steering segment registers the largest market share in the global OTR vehicle power steering market as they have efficient fuel economy and lower emissions. According to the vehicle type, driver preference, and road speed, electric power steering (EPS) is customizable, which further accelerates the global OTR vehicle power steering market share. Moreover, EPS offers different advantages, including precise control, improved energy effectiveness, and lower maintenance requirements compared to conventional hydraulic systems. According to global OTR vehicle power steering market analysis, this move towards electrification fits with the industry's surge for lower emissions and sustainability. These factors propel the growth of the global market in the forecast period.
For instance, in April 2023, Nexteer Automotive Corporation announced the launch of a modular rack-assist electric power steering system, providing flexibility to efficiently address OEMs' broad varying demands for advanced steering systems of heavier vehicles, including light commercial vehicles, EVs, and others.
Asia-Pacific Registers the Largest Market Share
Asia-Pacific dominates the market due to an increase in the production of vehicles, the presence of giant market players, and the high buying power of consumers. In emerging countries, the demand for luxury vehicles is growing, coupled with the sale of vehicles, which is driving the market growth in the forecast period. Governments in Asia-Pacific are introducing fuel economy standards that result in a rise in the usage of fuel-efficient automobiles with an efficient steering system. Manufacturers in this region are working on the efficiency of power steering to offer greater adjustability and flexibility, easily incorporating with other vehicle systems and features comprising ADAS.
For instance, in June 2023, Nidec Corporation, a Japanese manufacturer, announced that it had launched a new electric power steering motor power pack to ensure smooth execution of the lane-keeping assist system and other ADAS functions.
Future Market Scenario (2024-2031F)
Rapid technological advancements and the integration of innovative features in OTR vehicle power steering systems drive the global market growth.
A gradual shift towards electrification is projected to be a popular trend in the OTR vehicle power steering market in the forecast period.
Integration of advanced sensors and real-time data monitoring capabilities in OTR vehicle power steering system offers better control to the operator, surging the global market demand.
In emerging nations, the increasing sales and production of automakers are likely to propel the automotive steering system market growth.
Key Players Landscape and Outlook
Companies in the global OTR vehicle power steering market are significantly working on expanding their footprint and product portfolio across the globe. Key companies are collaborating with government agencies to optimize vehicle maneuverability and the performance of steering systems. Manufacturers need to implement technologies that decrease carbon emissions and improve environmental sustainability. In addition, key participants in the market are efficiently adopting market growth strategies, including joint ventures, new product launches, mergers and acquisitions, partnerships, and others, to address the rising demand for OTR vehicle power steering.
In May 2022, NSK Ltd. signed a memorandum of understanding (MoU) with thyssenkrupp AG to discover a potential joint venture to compete more efficiently in the global steering industry.
In April 2023, DENSO Corporation's executive Santosh Singh joined the Steering Committee of MEMA's Center on Green Initiatives to contribute his guidance to strengthening eco-friendly practices.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.