Market Trends of North America Adaptive Steering Industry
This section covers the major market trends shaping the North America Adaptive Steering Market according to our research experts:
Sale of Passenger Cars Poised to Fuel Demand
The automotive industry in North America is one of the essential sectors contributing to its GDP. In 2019, the US automotive industry accounted for nearly 3.5% of the total United States GDP. The increasing adaptive steering market in this region is also due to the growing population and rising income levels, which have led to increased demand for automobiles.
But another automated steering with technologies, such as lane-keeping assistance and lane-centering capabilities, and other considerable investments in their development may hinder the growth of the adaptive steering market.
For instance, In June 2018, ZF Friedrichshafen AG had introduced motion technology with a Fully Active Chassis System (FACS) that enhances driving dynamics. This technology can eliminate most car body movement in passenger cars. FACS releases occupants from driving positions for autonomous driving.
However, the rise in demand for automation and advanced driver assistance systems technology cease the market share of adaptive steering. Steer-by-wire (absence of mechanical linkages between road wheels and steering wheel) technology is anticipated to hinder the growth of the market in the coming years.
Additionally, the North American region has significant growth potential, owing to low automobile production costs, easy availability of economical labor, lenient emission, and safety norms, and government initiatives to support foreign direct investments (FDIs).
The United States Leads the Automotive Adaptive Steering Market
The adaptive steering market is United holds a significant share compared to other countries in North America. This is attributed due to the broader automobile market, the strong presence of automotive manufacturing and technology companies, and a developed economy. Passenger cars had the highest share in the adaptive steering technology market share due to an increase in demand.
The United States is North America’s largest automotive market with car production of over 10 million vehicles manufactured in 2019. With the installation of new plants by OEM suppliers in the United States, the addition of an adaptive steering system and automated steering technology drives the market towards higher profitability.
For instance, In February 2017, Robert Bosch GmbH had introduced parking assistance feature even in midsize cars. Earlier, this feature was available only in premium and luxury cars.
Magneti Marelli came up with the new technology of the Adaptive Rear Lamp system (ARS), which works on a similar principle as front lamps but adjusts the tail lamp intensity based on the brake force and even adaptive reverse motion function. OSRAM GmbH has been working on the lighting systems for AFS assembly and has come up with the high-power compact LEDs, which are now a component of the AFS in the new CLS class of Mercedes. BMW has recently developed its adaptive lighting system and launched the new five series employing this technology.
Thus, owing to the increasing developments, the automotive adaptive steering market in the region is expected to grow at a rapid pace.
