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The growth of the global light-duty truck steering system market is highly dependent on the sales of light-duty trucks. China, Japan, and countries in North America and Western Europe, which comprise the major markets for light-duty trucks, are expected to see a slowdown in growth or even lower sales during the forecast period. Increasing manufacturing activities in India will raise the demand for transportation and logistics. This will be supported by the robust GDP growth forecast for the country going forward. Hence, these factors will remain positive for India’s light-duty truck market. Our analysts have predicted that the light-duty truck steering system market will register a CAGR of almost 6% by 2023.

 

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Market Overview

Increased electronic content in light-duty trucks enabling adoption of advanced steering systems

The electrification of vehicles in the forms of powertrain, infotainment, connected vehicles, safety systems, and electronics. Automotive steering systems have also evolved into EPS and EHPS from traditional manual steering and HPS.

Increasing cost pressure on steering system manufacturers from demand side

Currently, commercial-vehicle component manufacturers and suppliers are facing challenges to maintain quality by keeping cost low. Hence, steering system manufacturers are looking to formulate growth strategies to remain profitable in this competitive. Intense competition among OEMs and surging consumer demand also push OEMs to operate within strict cost parameters to remain profitable.

For the detailed list of factors that will drive and challenge the growth of the light-duty truck steering system market during the 2019-2023, view our report.

 

Competitive Landscape

The market appears to be highly concentrated and with the presence of limited vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the markets competitive landscape and offering information on the products offered by companies.

 

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Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

– 2.1 Preface

– 2.2 Preface

– 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

– Market ecosystem

– Market characteristics

– Market segmentation analysis

PART 04: MARKET SIZING

– Market definition

– Market sizing 2018

– Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

– Bargaining power of buyers

– Bargaining power of suppliers

– Threat of new entrants

– Threat of substitutes

– Threat of rivalry

– Market condition

PART 06: MARKET SEGMENTATION BY TYPE

– Market segmentation by type

– Comparison by type

– EPS – Market size and forecast 2018-2023

– HPS – Market size and forecast 2018-2023

– EHPS – Market size and forecast 2018-2023

– Market opportunity by type

 

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