Press release
Automotive Steering Market Is Estimated To Reach US$44 Bn with Leading Manufactures: Bosch, Jtekt, Mando, Nexteer, Trw, Thyssen Krupp and Forecasts Till 2023
The global steering market is expected to post a revenue of more than USD 44 billion by 2023. Power steering has increasingly become the standard in passenger cars around the world. However, in the emerging markets, some entry-level vehicles are still sold without a power steering. Higher growth is expected to be seen in the commercial vehicle space in the emerging markets.Detailed Sample Copy of Updated Analysis @ https://marketprognosis.com/sample-request/15950
Autonomous Steering Systems Trends
With the advent of artificial intelligence in every aspect of human life, the future of cars is expected to be driverless cars. It is evident as the leading manufacturers in the automotive steering market shift their focus to AI-controlled steering wheels. Many vehicles now have an automatic parking feature, which is a fundamental step for a car to become autonomous. Companies like Google, Uber, Volvo, etc., have been testing autonomous vehicles and have also announced the launch of their autonomous vehicles in the near future. The autonomous vehicles trend is anticipated to change the automotive steering systems by making technologies like steer-by-wire or completely electric-assisted steering systems predominant in the future.
Electronic power steering, because of application in a diverse model base, is anticipated to grow at the fastest pace in the forecast period. Manual power steering is likely to register falling market share in the forecast period and the sales are expected to remain concentrated in some countries only and even face a downfall as base models of low-cost vehicles are also providing the electronic power steering mechanism.
Key Developments
• March 2018: Nexteer and WABCO announced a partnership in which WABCO will supply active steering systems for commercial vehicles using Nexteer’s Magnetic Torque Overlay (MTO) technology.
• March 2018: Nexteer and Dongfeng Components announced a 50:50 joint venture for the manufacture of automotive steering systems.
Major Players:
BOSCH, JTEKT, MANDO, NEXTEER, TRW, THYSSEN KRUPP, amongst others
Request Discount on this repots @https://marketprognosis.com/discount-request/15950
Worldwide Performance of Automotive Steering Wheel
In terms of geography, the APAC region is expected to dominate the market for steering systems. This region is expected to account for a market share of more than 52% as it is the fastest and largest automotive market. Factors like low-cost labor, government incentives such as tax exemption and subsidy towards local manufacturing, raw material advantages, and free-trade agreements with other countries in the region will promote market growth in this region during the forecast period.
Most of the commercial vehicles operating in the Asia-Pacific and Africa region are obsolete and do not feature any type of steering assist systems. However, the rising regulations are expected to force the operators to replace the vehicles, which is expected to boost the sales of new commercial vehicles in the market, thereby driving the dependent automotive steering systems market.
The recovering sales in the United States automotive market are expected to provide a big boost to the steering market, as the United States and Mexico are still two of the most important markets in the automobile industry. Mexico, primarily an automobile exporter, has become an important automotive hub, driving the production of automobiles, thereby driving the automotive steering market in the region.
Enquiry Before Buying@ https://marketprognosis.com/enquiry/15950
About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.
Contact us:
ProgMarkPvt Ltd,
Thane - 421501
India.
Contact No:+1 973 241 5193
Email: sales@marketprognosis.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Steering Market Is Estimated To Reach US$44 Bn with Leading Manufactures: Bosch, Jtekt, Mando, Nexteer, Trw, Thyssen Krupp and Forecasts Till 2023 here
News-ID: 1198074 • Views: …
More Releases from Market Prognosis

Third-Party Logistics (3PL) Market Latest Study Focuses On Current, Future Innov …
The report covers a forecast and an analysis of the Third-Party Logistics (3PL) Market on a global and regional level. The study provides historical data for 2018, 2019, and 2020 along with a forecast from 2019 to 2026 based on revenue and volume.
Overview of the Global Third-Party Logistics (3PL) Market:
The report spread across 90 pages is an overview of the Global Third-Party Logistics (3PL) Market. These report study based on the Third-Party…

Ride-Hailing Market: An Insight on the Important Factors and Trends Influencing …
The report covers a forecast and an analysis of the Ride-Hailing Market on a global and regional level. The study provides historical data for 2018, 2019, and 2020 along with a forecast from 2019 to 2026 based on revenue and volume.
Overview of the Global Ride-Hailing Market:
The report spread across 90 pages is an overview of the Global Ride-Hailing Market. These report study based on the Ride-Hailing Market. It is a complete overview…

COVID-19 Impact on Professional Indemnity Insurance Market 2021-2026: Industry I …
The report covers a forecast and an analysis of the Professional Indemnity Insurance Market on a global and regional level. The study provides historical data for 2018, 2019, and 2020 along with a forecast from 2019 to 2026 based on revenue and volume.
Overview of the Global Professional Indemnity Insurance Market:
The report spread across 90 pages is an overview of the Global Professional Indemnity Insurance Market. These report study based on the Professional…

Modular Construction Market Future Growth Explored in Latest Research Report by …
The report covers a forecast and an analysis of the Modular Construction Market on a global and regional level. The study provides historical data for 2018, 2019, and 2020 along with a forecast from 2019 to 2026 based on revenue and volume.
Overview of the Global Modular Construction Market:
The report spread across 90 pages is an overview of the Global Modular Construction Market. These report study based on the Modular Construction Market. It…
More Releases for Nexteer
Automotive Steering System Market Growth, Trends And Forecast | Mando Corp., Nex …
The Global Automotive Steering System Market Research Study contains an in-depth overview of the global market as well as extensive research conducted by the experts. The analysis includes a thorough examination of this market as well as the key factors that may influence the industry's commercialization graph. This report provides an extremely precise assessment of the global market in terms of quantitative analysis and qualitative research. The analysis includes numerous…
Global Automotive Transmission Shafts Market 2018 - RSB Group, NTN, Nexteer, Wan …
Accord Market, recently published a detailed market research study focused on the "Automotive Transmission Shafts Market" across the global, regional and country level. The report provides 360° analysis of "Automotive Transmission Shafts Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Automotive Transmission Shafts industry, and estimates the future trend of Automotive…
Drive-by-Wire Market: Bosch, JTEKT, Nexteer, ZF TRW, Thyssenkrupp
MarketResearchReports.Biz adds “Global Drive-by-Wire Market Share, Size, Trends and Forecast Market Research Report” reports to its database. This report provides a strategic analysis of the Drive-by-Wire market and the growth estimates for the forecasted period.
This report studies the global Drive-by-Wire market status and forecast, categorizes the global Drive-by-Wire market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe,…
Global Side Shaft Market 2017 - NTN, Meritor, Danchuan, Showa, Dana, Nexteer
The study Global Side Shaft Industry 2017 is a detailed report scrutinizing statistical data related to the Global Side Shaft industry. Historical data available in the report elaborates on the development of the Side Shaft market on a Global and national level. The report compares this data with the current state of the market and thus elaborates upon the trends that have brought the market shifts.
The market forces determining the…
Automotive Electronic Power Steering Market 2017- JTEKT, Bosch, NSK, Nexteer, ZF
Automotive Electronic Power Steering Market 2017 Industry research report provides important information to identify and analyze the market need, market size and competition. This market research report used in maintaining competitiveness over competitors.
“Automotive Steering Systems refers to a series of devices used to change or maintain the direction of the vehicle; its function is to control the direction according to the driver’s aim. Automotive steering system is one of the…
Global Active Power Steering Market 2017 :Ognibene, Bosch, Volkswagen, BMW, Next …
A market study based on the "Active Power Steering Market" across the globe, recently added to the repository of Market Research, is titled ‘Global Active Power Steering Market 2017’. The research report analyses the historical as well as present performance of the worldwide Active Power Steering industry, and makes predictions on the future status of Active Power Steering market on the basis of this analysis.
Get Free Sample Copy of Report…