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Los Angeles, CA -- (SBWIRE) -- 02/19/2019 -- 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 is valued at xx million US$ in 2018 is expected to reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2019-2025.
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At company level, this report focuses on the production capacity, ex-factory price, revenue and market share for each manufacturer covered in this report.
The following manufacturers are covered:
GKN
Robert Bosch
JTEKT
Nexteer Automotive
Thyssenkrupp
ZF Friedrichshafen
ATS Automation Tooling Systems
Mando
Segment by Type
Hydraulic Power Steering
Electric Power Steering
Other
Segment by Application
Passenger Cars
Commercial Vehicles
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