The report evaluates the Automotive Steering System Market share command by the key Players of the business and offers a full assessment of the competitive landscape. This market is split into completely totally different sections with the profound analysis of each phase with relevancy the geography for the study quantity. Supported the historical data, the report estimates future prospects and provides the market trends, size, growth, and estimation for the amount 2018-2025.
Automotive steering system is an arrangement of inter linked gears called pinion and worm by which reciprocating motion is obtained using rotational motion i.e. through means of steering wheel which enables the automobile to take turns on curvy roads. In modern advanced automobiles rack and pinion steering system is used, but in heavy equipment automobiles hydraulic steering systems are used which are efficient and reduces the driver’s effort. Many advances have been done in automobile steering systems considering the various safety factors, focusing on developing fuel-efficient systems due to continuous rise in fuel prices and considering other emergency factors.
The major market drivers are growth of automotive sector in emerging markets, increasing demand for fuel-efficient vehicles and fuel efficient. The market growth might be restricted due to high cost of EPS system under the study period.
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This report examines the global automotive steering system market and provides information regarding the revenue (USD Million) for the period 2018 to 2025. It further elaborates the market drivers which contribute to the growth. It then describes the restraints that are faced by the market. The market is classified into various segments with deep analysis of each segment for the study period.
The report also covers the complete competitive landscape of the worldwide market with company profiles of key players such as TRW Automotive Holdings, Mitsubishi Electric Corporation, Hyundai Mobis Co. Ltd., Sona Koyo Steering Systems Ltd., Robert Bosch Automotive Steering GmbH, JTEKT Corporation, Nexteer Automotive, Thyssenkrupp Presta AG, China Automotive Systems Inc. and ZF Friedrichshafen Manufacturing Company. In terms of geography, the automotive steering system market has been segmented into regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The study provides a detailed view of country-level aspects of the market on the basis of application segments and estimates the market in terms of revenue and volume during the forecast period.
Segmentations in Report:
1. By Vehicle Type:
> Heavy Commercial Vehicle (HCV)
> Light Commercial Vehicle (LCV)
> Passenger Vehicle
2. By Steering Type:
> Electronic Power Steering (EPS)
> Electro-Hydraulic Power Steering (EHPS)
> Hydraulic Power Steering (HPS)
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