Australia Automotive Steering Market Research Report, 2029

One of the predominant trends in the Australian automotive steering market is the adoption of advanced steering technologies. These technologies offer benefits such as improved fuel efficiency, enhanced maneuverability, and integration with driver assistance systems, aligning with consumer demands for safer, more efficient vehicles. Australia has been a significant market for automobiles, with a preference for vehicles equipped with advanced steering systems for both comfort and safety. As in other developed countries, the early automotive steering systems in Australia were primarily manual, gradually transitioning to power-assisted steering systems to meet growing consumer demand for convenience and ease of use. Several prominent global automotive companies have had a significant presence in the Australian market, providing steering systems either directly or through partnerships with local manufacturers. Companies such as Bosch, ZF Friedrichshafen AG, TRW Automotive Holdings Corp, and NSK Ltd have been involved in supplying steering components and systems to vehicle manufacturers operating in Australia. Local manufacturers and suppliers have also contributed to the automotive steering market, albeit on a smaller scale. Government policies and regulations have played a crucial role in shaping the automotive industry in Australia, including the steering market. In recent years, Australia's automotive industry has faced challenges such as declining domestic manufacturing and changing consumer preferences, leading to shifts in the automotive steering market. As the automotive industry continues to evolve, companies involved in the steering market in Australia are expected to adapt to changing trends and technologies to remain competitive in this dynamic landscape. In terms of market dynamics, the Australian automotive steering market is influenced by factors such as consumer preferences, vehicle trends, technological advancements, and government policies. Consumer preferences for comfort, convenience, and driving experience drive demand for steering systems with advanced features and technologies. Vehicle trends, such as the popularity of SUVs and light commercial vehicles, also shape the market, as these vehicles often require specific steering solutions to meet their unique performance requirements. ISO 9001 (Quality Management Systems) and ISO 14001 (Environmental Management Systems) are essential for steering component manufacturers and suppliers to demonstrate their commitment to producing high-quality products while minimizing environmental impact. Additionally, adherence to Australian Design Rules (ADR) is mandatory to meet safety and performance requirements, ensuring that steering systems meet stringent regulatory standards. According to the research report "Australia Automotive Steering Market Research Report, 2029," published by Actual Market Research, the Australia Automotive Steering market is anticipated to grow at more than 3.46% CAGR from 2024 to 2029. Automotive steering market in Australia is poised for significant growth in the coming years, propelled by a confluence of factors shaping the industry landscape. Foremost among these drivers is the relentless march of automotive innovation, particularly in the realm of electric power steering (EPS), steer-by-wire systems, and autonomous driving technologies. These cutting-edge advancements promise improved fuel efficiency, heightened safety features, and seamless integration with increasingly automated vehicles, aligning seamlessly with consumer demands for smarter, more efficient automotive solutions. Burgeoning popularity of electric and hybrid vehicles in Australia is set to underpin the rise in demand for electric power steering systems. As environmental concerns continue to mount, and governmental regulations pivot towards greener transportation alternatives, the trajectory for electric power steering systems appears resolutely upward, bolstering the overall growth trajectory of the automotive steering market. In parallel, the steadfast commitment to vehicle safety and regulatory compliance stands as a linchpin for future growth. Steering systems that meticulously adhere to stringent safety standards and crashworthiness requirements will be in high demand. Manufacturers must heed this clarion call, investing copiously in research and development to ensure their steering systems not only comply with evolving safety protocols but also deliver unrivaled performance and reliability. Steering systems endowed with advanced features such as adaptive steering response, bespoke driving modes, and seamless integration with connected car technologies are primed to capture the imaginations of discerning consumers, delivering heightened comfort, convenience, and performance. The future trajectory of the automotive steering market in Australia is one defined by relentless innovation, stringent regulatory adherence, and a steadfast commitment to meeting evolving consumer demands. Manufacturers that adeptly navigate these currents of change, leveraging technological prowess and an acute understanding of consumer preferences, will undoubtedly emerge as trailblazers in this dynamic and ever-evolving industry landscape. Growing popularity of electric and hybrid vehicles in Australia has led to increased demand for electric power steering systems, which contribute to overall vehicle efficiency and reduced emissions.

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In the Australian automotive market, steering systems encompass a variety of options catering to diverse driver preferences and vehicle applications. Manual steering systems, traditionally found in older or budget-friendly vehicles, require the driver to exert physical effort to turn the wheels directly. While simple and straightforward, manual steering can be more taxing, especially at low speeds or when maneuvering larger vehicles, making it less suitable for urban driving or long journeys. Conversely, power steering systems, including both hydraulic power steering (HPS) and electric power steering (EPS), have become increasingly prevalent in the Australian automotive market due to their enhanced comfort and ease of operation. HPS systems utilize a hydraulic pump to assist in steering efforts, while EPS systems employ an electric motor for assistance. These systems reduce the amount of effort required by the driver to turn the steering wheel, particularly at low speeds or when parking, enhancing driving comfort and reducing fatigue. In a country as vast as Australia, where long drives are common, power steering systems are highly desirable, offering smoother and more effortless steering over extended periods. Within the realm of power steering systems, variations such as recirculating ball and variable ratio steering offer additional options for drivers seeking specific performance characteristics. Recirculating ball steering, commonly found in heavy-duty vehicles or trucks, utilizes a worm gear mechanism to translate steering wheel input into lateral movement of the wheels. While robust and capable of handling heavy loads, recirculating ball systems may offer less precise steering feel and feedback compared to rack-and-pinion systems. Variable ratio steering systems dynamically adjust the steering ratio based on driving conditions and vehicle speed to optimize responsiveness and stability. These systems provide a balance between agility at low speeds, enhancing maneuverability for urban driving, and stability at high speeds, improving control and confidence on highways and rural roads. With Australia's diverse terrain and driving conditions, variable ratio steering systems offer versatility and adaptability, making them well-suited for a wide range of vehicles and driving scenarios. In the diverse landscape of the Australian automotive market, alongside SUVs, cars and vans also hold significant prominence as leading passenger vehicle types, catering to varied consumer needs and preferences. Cars, encompassing a spectrum from compact hatchbacks to luxurious sedans, offer a versatile array of options for Australian drivers. Mid-size and full-size sedans appeal to families and professionals seeking ample space, comfort, and refined driving dynamics for longer journeys. Premium sedans cater to discerning buyers, offering luxury features, advanced technology, and powerful performance. In addition to cars, vans play a vital role in the Australian automotive market, serving diverse commercial and personal transportation needs. Commercial vans are indispensable for businesses, ranging from small delivery operations to large-scale logistics enterprises, offering spacious cargo capacity, reliability, and efficiency. Passenger vans, commonly used for group transportation, tourism, and airport shuttles, prioritize passenger comfort, safety, and versatility with configurable seating options and amenities. Commercial vehicles encompass a wide range of types, including trucks, vans, and buses, used for transporting goods and passengers across various industries. With Australia's vast expanse and extensive road network, commercial vehicles play a crucial role in logistics, freight transport, and public transportation. Steering systems for commercial vehicles prioritize durability, reliability, and ease of maneuverability to navigate urban streets, highways, and regional roads efficiently. Power steering systems, including hydraulic and electric power steering (EPS), are commonly employed to assist drivers in handling heavy loads and negotiating tight spaces, enhancing driver comfort and safety. Off-road vehicles, including SUVs, pickup trucks, and 4x4 vehicles, cater to Australia's rugged terrain and adventurous outdoor lifestyle. With vast expanses of outback, rugged mountains, and challenging off-road trails, off-road vehicles demand robust steering systems capable of withstanding harsh conditions and providing precise control. Hydraulic-assist steering and reinforced components are often employed to enhance durability and performance, allowing off-road enthusiasts to tackle challenging terrain with confidence. Australian automotive market continues to grow and evolve, the demand for both commercial vehicles and off-road vehicles is expected to remain strong. Steering wheels serve as the primary interface between the driver and the vehicle's steering system, allowing for directional control and maneuvering. Steering wheels come in various designs and materials, ranging from traditional leather-wrapped wheels to modern designs with integrated controls for functions such as audio, cruise control, and driver assistance systems. Many vehicles in the Australian market offer options for steering wheel customization, including adjustable tilt and telescopic features to accommodate drivers of different sizes and preferences. Steering gears are responsible for translating the rotational input from the steering wheel into lateral movement that turns the vehicle's wheels. Steering gears are often integrated with other components such as the steering column and assist mechanisms to provide a complete steering system. Power steering pumps provide hydraulic or electric assistance to reduce the amount of effort required by the driver to turn the steering wheel, particularly at low speeds or during parking maneuvers. Hydraulic power steering pumps use fluid pressure to provide assistance, while electric power steering pumps rely on electric motors. Power steering pumps are typically integrated into the vehicle's power steering system, working in conjunction with other components such as the steering gear and hydraulic lines. Steering columns often incorporate safety features such as collapsible designs and energy-absorbing materials to mitigate the impact of frontal collisions and protect the driver. Torque sensors measure the amount of force applied to the steering wheel, assisting in power steering systems to provide appropriate levels of assistance based on driver effort. Speed sensors monitor the rate of steering wheel movement, facilitating dynamic adjustments in steering assistance and stability control systems. These sensors, along with others like yaw rate sensors and wheel speed sensors, form a comprehensive network that enhances safety, performance, and driver comfort in today's vehicles. As automotive technology continues to advance, sensors will play an increasingly integral role in shaping the future of steering systems, enabling innovations in autonomous driving, connectivity, and safety features.

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Kripa Shah

Senior Analyst

Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Automotive Steering market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type of Steering System • Manual Steering • Power Steering (Hydraulic Power Steering, Electric Power Steering) • Others(Variable Gear Ratio Steering,Rack and Pinion Steering, Recirculating Ball Steering) By Vehicle Type • Passenger Vehicles (Cars, SUVs, Vans) • Commercial Vehicles (Trucks, Buses) • Off-road Vehicles (ATVs, UTVs, Dirt Bikes) By Component • Steering Column • Steering Wheel • Steering Gear • Steering Pump • Steering Sensor • Others By End Use • OEMs (Original Equipment Manufacturers) • Aftermarket The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

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Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the automotive steering industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.