The IHS Markit Chassis Service provides insight, context, data, and analytics for the key chassis components—braking, steering, suspension, and tires. Users can quickly access key insights from market developments, put context around events and technology trends, dive into deep data and forecasts, and seamlessly drive analytics to support their most challenging decisions.
Power steering systems, as the name suggests, do exactly that—they power steering systems. With the autonomous driving era relatively just around the corner, the role of the steering system becomes even more pivotal, as it is an important piece of human-machine interface (HMI).
While the primary function of a vehicle’s steering wheel, and thus the system it houses, has been to steer the vehicle, today, this role has expanded. The steering is becoming a component that holds buttons for multimedia functions within the car. In fact, several automakers are using the steering wheel for safety by adding driver alertness functions.
However, in the autonomous era, the future of the steering system (by way of steering wheel) becomes a challenge.
In this report, we will discuss the future steering systems technology and market, supported by key market drivers and challenges, technology development in the interim, and associated market and technology outlooks for steering systems as a vehicle component and its subcomponents, which include the hydraulic pump, the motor, and the electronic control unit (ECU).