City of Industry, CA -- (SBWire) -- 09/05/2018 --This report studies the Automotive Power Steering Gears market size (value and volume) by players, regions, product types and end industries, history data 2013-2017 and forecast data 2018-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis. Automotive power steering helps the driver to steer the wheels by controlling the steering effort on the wheel. In power steering, electric motors help the steering motion instead of hydraulic systems.
The automotive power steering gears market was dominated by the passenger cars segment during 2017 and its dominance is expected to continue until the end of 2023. Approximately 75% of passenger cars use rack and pinion gear systems over other mechanisms as they help to convert rotational energy of the steering wheel into a linear motion and turn the wheels of a vehicle. Since gears based on the rack and pinion steering systems are cheaper and compact and help in gear reduction and provide more control over the vehicle, they are increasingly integrated into the gear setup of passenger cars.
APAC occupied the majority shares of the automotive power steering gears market during 2017 and the region will retain its market dominance during the next few years as well. The growing sales of passenger cars in emerging countries such as China and India will fuel the market's growth in the region. Moreover, the introduction of new fuel consumption standards in China aimed at reducing the carbon footprint will further drive the demand for automotive power steering gears in passenger vehicles.
The global Automotive Power Steering Gears market was xx million US$ in 2017 and is expected to xx million US$ by the end of 2025, growing at a CAGR of xx% between 2018 and 2025.
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Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Automotive Power Steering Gears in these regions, from 2013 to 2025, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil etc.)
Middle East and Africa (Egypt and GCC Countries)
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers. The key manufacturers in this market include
GKN
Robert Bosch
JTEKT
Nexteer Automotive
Thyssenkrupp
ZF Friedrichshafen
Mando
By the product type, the market is primarily split into
Hydraulic Power Steering
Electric Power Steering
Other
By the end users/application, this report covers the following segments
Passenger Cars
Commercial Vehicles
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Automotive Power Steering Gears Market Sales, Segments, Outlook, Growth and Competitive Landscape by 2025
The Automotive Power Steering Gears Market research study stipulates a clear overview of the current market including the past and the projected future of market size concerning volume, technological advances, and economic elements in the market industry.