China automotive steering system market: 22.3 million sets sold by 2015

The China automotive steering system market reached a total of around 19.3 million sets. By 2015 this total is expected to rise to 22.35 million sets, growing at CAGR of 5%.

Seen from the demand structure, mechanical hydraulic steering system (HPS) is the most mainstream steering system in the current market, with demand accounting for about 50% of the total. However, as the electric power steering system (EPS) technology continues to become mature, its demand is in a stage of rapid growth. In the future, EPS will constantly replace HPS to become the mainstream of the automotive steering system market.

At present, China's automotive steering system industry characterizes fierce competition, and the manufacturers fall into two camps of foreign-capital / joint-venture enterprises and local enterprises, of which, the former represented by ZF, TRW, JTEKT, SHOWA, NSK, MANDO, etc., relying on their higher quality of products as well as the capital relations with foreign brand vehicle assembly plants, mainly support for foreign brand vehicles. By contrast, local Chinese companies with relatively backward production process are occupied in the production of mechanical steering system, mainly supporting for homegrown brand vehicle assembly plants. With the technological improvement and experience accumulation, China Automotive Systems, Inc., Zhejiang Shibao Company Limited, Zhejiang Wanda Steering Gear Co., Ltd., AVIC-Xinhang Yubei Steering System Co., Ltd. and other local enterprises have seen fast development and started to provide product supporting services to joint-venture vehicle assembly plants. 

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