Automotive Steering Systems Market Size To Grow At 7% CAGR And Reach $14,489 Million By 2023 - Key Players Analysis By Mitsubishi, Electric Corporation, JTEKT Corporation, China Automotive System, Thyssenkrupp Presta, And Nexteer Automotive

Automotive Steering Systems Market 2018 Global Industry Forecast To 2023 Report, provides comprehensive information on Global Automotive Steering Systems Market Size, Share, Growth, Sales, Trends, And Regional Forecast To 2023. The global Automotive Steering Systems market is projected to witness a compound annual growth rate of 7% from 2018 to 2023. Report segments Automotive Steering Systems Industry on the basis of Steering System (Manual, Electrically Powered, Electro-Hydraulic Powered, Hydraulic Powered), components (Hydraulic pump, Steering Sensor and column Electric Motor), Vehicle Type and End Market Forecast to 2023.

Automotive Steering Systems Industry Key Companies Analyzed In Report Are:

The prominent players in the automotive steering market include Mitsubishi Electric Corporation (Japan), TRW Automotive Holdings (U.S.), Sona Koyo Steering System Ltd. (India), and JTEKT Corporation (Japan). Robert Bosch Automotive Steering Gmbh (Germany), Nexteer Automotive (U.S.), China Automotive System Inc. (China), and Thyssenkrupp Presta (U.S.)  are among others.    

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Automotive Steering Systems Industry Overview:

The automotive steering system market has witnessed transcendent change in recent times, owing to rapid technological developments in the automotive industry. With the advent of power steering, individuals have been exposed to a steering technology, which is not only superior to technologies such as traditional manual steering systems, but also much more responsive and fuel efficient. Electronic control over steering systems are expected to significantly impact the progress in the market owing to the increasing demand from end users for improved efficiency, safety, and comfort.  Additionally, factors such as integration of advanced driver assistance systems in vehicles combined with improved purchasing power of consumers across the globe, are expected to deepen the scope of the automotive steering system market for a considerable period of time.

The automotive industry is in consensus that autonomous driving is the way forward, automotive steering manufacturers are expected to be under considerable limelight.  With IHS Automotive, a group of consultants for Automotive OEMs, predicting sales of over 21 million autonomous vehicles by the end of 2035, there are discussions regarding automotive steering in terms of a “legacy device”. As we enter the age of self-driving cars, the importance of steering systems is still debated. On the other hand, questions concerning the way autonomous cars will be introduced into mass production, and the way consumers will be persuaded to accept self-driving cars, encourage most industry observers to predict that the automotive steering system are going to continue their rapid growth during our forecast period..

The market has been segmented on the basis of vehicle type as commercial vehicle and passenger vehicle. On the basis of steering system the market has been segmented as Manual, Electrically Powered, Electro-Hydraulic Powered, & Hydraulic Powered. On the basis of components the market has been segmented as Hydraulic pump, Steering Sensor & column, and Electric Motor. On the basis of sales channel the market has been segmented as OEM & Aftermarket.

North America is another major region for the automotive steering system market. Existence of major manufacturers in this region pave the way for research and development and the development of new technology in the automotive steering system market. Established automotive industry in this region also leaves an opportunity for the automotive steering system market to witness significant growth during the forecast.

The report for Global Automotive Steering Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

Table Of Contents

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market Size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat Of New Entrants

3.1.2 Bargaining Power Of Buyers

3.1.3 Threat Of Substitutes

3.1.4 Segment Rivalry

3.1.5 Bargaining Power Of Buyers

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

Continued…

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