New Zealand Steering Control Market By Vehicle Type (Passenger Cars, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle), By Type (Hydraulic Power Steering, Electronic Power Steering, and Electro-Hydraulic Power Steering System), By Pinion Type (Single, Dual), By Demand Category (OEM, Aftermarket), and By Region, Competition Forecast and Opportunities, 2017-2027
Published Date: April - 2025 | Publisher: MIR | No of Pages: 320 | Industry: Automotive | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationNew Zealand Steering Control Market size
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The global New Zealand Steering Control Market was valued at $35.3 billion in 2022 and is projected to reach $39.5 billion by 2027, with a CAGR of 2.3%.
The New Zealand steering control market is a portion of this global market, and its specific size and growth rate are not explicitly detailed in the provided search results, but the global market growth indicates a positive trend for the New Zealand market as well.
The New Zealand steering control market is expected to witness a growth of steady CAGR in the forecast period,.An increase in effort and investments by the automobile manufacturer to improve the comfort and convenience of automobiles, the surge in installation in commercial vehicles, and stringent emission regulations are the primary factors driving the demand for the New Zealand steering control market for the next five years.
The steering control system is a set of components used to control the vehicle's direction and help the driver move the vehicle in the chosen direction. The steering control system is a crucial component in an automobile as it is responsible for the control of vehicles. The growing advancements in technology have led to the transformation of manual steering to a power assist steering system. With the ever-increasing vehicle sales in the country and improved expenditure capacity of consumers, the demand for the New Zealand steering control market in the forecast period.
Key Drivers
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Technological AdvancementsThe shift towards Electric Power Steering systems is notable due to their fuel efficiency and reliability compared to traditional hydraulic systems
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Environmental RegulationsGovernment initiatives aimed at reducing greenhouse gas emissions are encouraging the adoption of more efficient steering technologies .
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Commercial Vehicle DemandAn increase in commercial activities and trade within New Zealand is boosting the demand for commercial vehicles, thereby influencing the steering control market positively
Market Segmentation
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The New Zealand steering control market is segmented into vehicle type, type, pinion type, demand category, company, and regional distribution. Based on vehicle type, the market is divided into passenger cars, light commercial vehicle, and medium & heavy commercial vehicle. Based on type, the market is divided into hydraulic power steering, electronic power steering, and electro-hydraulic power steering system. Based on pinion type, the market is divided into single and dual. Based on demand category, the market is bifurcated into OEM and aftermarket.
Market Players
Nexteer Automotive Corporation,
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Attribute |
Details |
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Base Year |
2021 |
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Historic Data |
2017 – 2020 |
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Estimated Year |
2022 |
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Forecast Period |
2023 – 2027 |
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Quantitative Units |
Revenue in USD Million, Volume in Units, and CAGR for 2017-2021 and 2022-2027 |
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Report coverage |
Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends |
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Segments covered |
· Vehicle Type · Type · Pinion Type · Demand Category |
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Region scope |
Auckland, Canterbury, Waikato, Wellington, Rest of New Zealand |
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Key companies profiled |
Nexteer Automotive Corporation, JTEKT Corporation, Showa Corporation, NSK Ltd., Robert Bosch GmbH, ZF Friedrichshafen AG, Continental AG, Hitachi Astemo, Ltd., Thyssenkrupp AG, Denso Corporation |
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Customization scope |
10% free report customization with purchase. Addition or alteration to country & segment scope. |
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Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
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Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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