According to the Automotive Steering Systems Market survey report, the market is expected to witness a relatively higher growth rate during the forecast period 2018-2022.
Pune, India -- (SBWIRE) -- 03/19/2018 -- Automotive Steering System Market comprises hand-operated steering wheel, steering column, universal joints, and rack & pinion mechanism. It maneuvers and controls the direction of the vehicle. The steering system has evolved from manual steering to power assist steering. Moreover, effective steering system increases the fuel efficiency of the vehicle. The global automotive steering systems market automotive steering systems is majorly fuelled by the rising demand from the automotive sector in developing markets and the growing demand for fuel-efficient vehicles. In addition, factors such as the rising vehicle production globally and the growing demand for easy vehicle maneuverability have also resulted in the growth of the companies operating in the market for automotive steering systems.
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Global automotive steering systems market size is expected to grow at a CAGR of +6% to reach +$41,189 million by 2022.
This statistical surveying study offers an unbiased analysis of the worldwide market for Automotive Steering Systems, vehicle type, type of steering, and geography.On the basis of vehicle type, the automotive steering systems market is segmented into light commercial vehicles (LCV), heavy commercial vehicles (HCV), and passenger vehicles. Out of these, the passenger vehicle segment is fuelled by their rising demand in the developing economies of India, Japan, and China. In terms of types of steering, the market is segmented into hydraulic power steering, electro-hydraulic power steering, and electronic power steering. Electronic power steering is much easier to operate and offers enhanced mileage in comparison to the segment of hydraulic power steering.
Some of the leading Players: TRW Automotive Holdings, Mitsubishi Electric Corporation, Robert Bosch Automotive Steering GmbH, JTEKT Corporation, Nexteer Automotive, Thyssenkrupp Presta AG Aktiengesellschaft, China Automotive Systems Inc, ZF Friedrichshafen Manufacturing Company, Hyundai Mobis Co. Ltd, Sona Koyo Steering Systems Ltd
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Further, the study offers an analysis of the current performance of the key regional markets, namely North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa, on the basis of a number of imperative market parameters, such as, the manufacturing volume, production capacity, pricing strategy, the dynamics of demand, supply, and sales, return on investments (RoI), and the growth rate of this market in each of the regions.
The report further analyzes the competitive landscape in this market by examining the profiles of the established market players to gain an insight into the current market hierarchy. The prevailing and the imminent organizations in the worldwide market for Automotive Steering Systems has also been deliberated in this research report in specifics, making it a valuable resource for supervision for the stakeholders operating in this market.In the last sections of the report, the companies responsible for increasing the sales in the Automotive Steering Systems market has been presented.
Table of Content:
Chapter 1 Automotive Steering Systems Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis