openPR Logo
Press release

Automotive Steering System Market 2021-2026 : Comprehensive Analysis, Top Key Players Analysis

03-21-2021 11:40 AM CET | Tourism, Cars, Traffic

Press release from: Allied Market Research

automotive steering system market

automotive steering system market

The key players analyzed in the report include China Automotive Systems Inc., JTEKT Corporation, Nexteer Automotive, Mando Corporation, ThyssenKrupp Presta AG, Robert Bosch Automotive Steering GmbH, Showa Corporation, NSK Ltd, Mitsubishi Electric Corporation, Sona Koyo Steering Systems Ltd., and Hyundai Mobis Co. Ltd. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.

Inquire for 25 % discount on this report @ https://www.alliedmarketresearch.com/purchase-enquiry/2317

The growth of the global automotive steering system market is driven by rise in disposable income of consumers and increase in demand for power steering systems in automotive due to their enhanced comfort and fuel efficiency, which ensure effortless driving experience, easy maneuverability, cost-effectiveness. However, the high cost of power steering systems is anticipated to impede the growth of the market. On the other hand, new technologies such as drive-by-wire is expected to be implemented in upcoming vehicles, which would provide promising prospects to the market in the near future.

Automotive Steering System Market by Type (Hydraulic Power Steering, Electronic Power Steering, and Electro-Hydraulic Power Steering System) and Vehicle Type (Passenger Vehicle and Commercial Vehicle): Global Opportunity Analysis and Industry Forecast, 2018 - 2025". The report offers comprehensive analyses of the current market size & forecast, key winning strategies, industry dynamics, top investment pockets, and competitive landscape. According to the report, the global automotive steering system market was valued at $29.42 billion in 2017 and is projected to reach $45.35 billion by 2025, registering a CAGR of 5.4% from 2018 to 2025.

Electronic power steering segment to retain dominance through forecast period
The electronic power steering (EPS) segment occupied more than three-fifths of the total market share in 2017, and is expected to maintain its lead through 2025. This is due to the fact that EPS ensures easy maneuverability and high fuel efficiency. Meanwhile, the hydraulic power steering segment is projected to witness the highest growth rate during the forecast period, registering a CAGR of 7.8%, owing to its enhanced accuracy of the steering while cornering and turning. The electro hydraulic power steering segment would witness a steady growth rate during the forecast period.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/2317

Passenger vehicles segment to retain dominance, commercial vehicles segment to manifest fastest growth through 2025

The passenger vehicle segment accounted for almost three-fourths share of the total revenue in 2017 and is expected to retain its dominance throughout the forecast period. This is due to the increased demand for sedans, luxury sedans, and mid-range vehicles that have robust steering systems to ensure seamless drivability. On the other hand, the commercial vehicle segment is expected to grow at the fastest CAGR of 7.2% through 2025, owing to the surge in need for power steering systems in heavy vehicles that are used in mining, construction, and other sectors.

Asia-Pacific to retain lion's share through 2025

Asia-Pacific accounted for nearly two-fifths share of the global market in 2017, and is expected to continue its dominance through 2025 owing to continuous developments in the automotive sector and increase in production of heavy commercial vehicles coupled with higher adoption rate of such systems as compared to other regions. The automotive steering market in Europe is projected to grow at the fastest CAGR of 7.1% during 2018-2025, owing to the presence of numerous countries with a well-developed automotive industry. Such countries have massive production of automotive ranging from low-end vehicles to luxury sedans, which require advanced steering systems. The other regions analyzed in the report include North America and LAMEA (Latin America, Middle East, and Africa).

Report Customization @ https://www.alliedmarketresearch.com/request-for-customization/2317

Contact:
David Correa
Portland, OR, United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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 System Market 2021-2026 : Comprehensive Analysis, Top Key Players Analysis here

News-ID: 2259495 • Views: 549

More Releases from Allied Market Research

Contact Adhesive Market: Global Top Industry Players Analysis and Forecast 2030
Allied Market Research published an exclusive report, titled, "Contact Adhesive Market by Type (Neoprene, Polyurethane, Acrylic, SBC and Others), Technology (Solvent-based and Water-based), Application (Woodworking, Automotive, Construction, Leather & Footwear, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030”. The contact adhesive market report offers an in-depth analysis of every crucial factor that affects the market growth including recent market developments, key market players, and decisive trends. The study begins with
Diethylenetriamine (DETA) Market Key Regions, Prominent Players and Forecast 203 …
Allied Market Research published an exclusive report, titled, "Diethylenetriamine (DETA) Market: Global Opportunity Analysis and Industry Forecast, 2021-2030”. The diethylenetriamine (DETA) market report offers an in-depth analysis of every crucial factor that affects the market growth including recent market developments, key market players, and decisive trends. The study begins with a detailed analysis of major determinants of the market such as drivers, challenges, restraints, and upcoming opportunities. Access Full Summary @ https://www.alliedmarketresearch.com/diethylenetriamine-deta-market-A13833 The
Cyanuric Acid Market: Growth Overview, Opportunities and Future Prospects by 203 …
Allied Market Research published an exclusive report, titled, "Cyanuric Acid Market by Type (Particle Cyanuric Acid, and Powdered Cyanuric Acid), and Application (Fine chemicals Industry, and synthetic resin): Global Opportunity Analysis and Industry Forecast, 2021–2030”. The cyanuric acid market report offers an in-depth analysis of every crucial factor that affects the market growth including recent market developments, key market players, and decisive trends. The study begins with a detailed analysis of
Cold Gas Spray Coating Market Report Overview and Geographical Outlook by 2030
Allied Market Research published an exclusive report, titled, "Cold Gas Spray Coating Market By Technology (High Pressure, and Low Pressure), and End-User (Transportation, Automotive, Oil & Gas, Utility, Medical, and Other End-Users): Global Opportunity Analysis and Industry Forecast, 2021–2030”. The cold gas spray coating market report offers an in-depth analysis of every crucial factor that affects the market growth including recent market developments, key market players, and decisive trends. The study

All 5 Releases


More Releases for Steering

Global Steering Wheel Market Growth 2019-2024
Steering wheel is a device in the vehicles to help drivers to control the steering of vehicles. Besides the steering function, steering wheel also can offer assistance functions, such as cruise control, audio system and telephone controls etc. This report mainly covers the applications in Passenger cars and Commercial Vehicles. Demand from the downstream brings a power to the development of steering wheel system industry. In recent years, growing China market became
Steering Robot Sales Market Report 2017
Steering Robot Sales global Steering Robot market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Read Detailed Market Report @ https://www.reportsandmarkets.com/reports/global-steering-robot-sales-market-report-2017-1631601 Geographically, this report split global into several key Regions, with sales (K Pcs), revenue (Million USD), market share and growth rate of Steering Robot
Global Steering Robot Market Research Report 2017
Global Steering Robot market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including Stahle GmbH AB Dynamics VEHICO GmbH Shanghai Cotech Automotive Engineering Corp.,ltd. RMS Dynamic Test Systems Dynamic Research, Inc. ... On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into For Car For Bus For Truck On the basis on the end users/applications, this report
Steering Column Control Modules Market
Automobile design, operation, aesthetics and technology are continuously evolving and witnessing significant advancements. Previous designs and operations in automobiles included various switches for different purposes, which were simple in design but complex in operation. Especially, steering systems witnessed prominent advancements in past decade. Development of hybrid, electric and hydraulic steering are some of the examples. Integration of various operational switches for convenience in steering wheels and column is indeed a
Automotive Steering Systems Market 2017 Emerging Trends
Global Automotive Steering Systems market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including 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 Request a sample copy at http://www.reportsweb.com/inquiry&RW0001827091/sample Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD) ,
Global Steering Knuckles Comparative Market Analysis Report
ReportsMonitor.com has added Global Steering Knuckles Market Professional Survey Report 2017 to its database of market research reports. This report studies Steering Knuckles in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2012 to 2016, and forecast to 2022. Get a Free Sample Report @ https://www.reportsmonitor.com/request-sample/?post=242728 This report focuses on top manufacturers in global market, with production,