Automotive Steering System Market: Global Industry Size, Trends, Business Opportunities and Forecast Till 2028

Evolve business intelligence, today has published a new market research report on “Automotive Steering System Market with COVID-19 impact, global and segmental analysis”. According to the report, the global automotive steering system market size was valued at $XX Million in 2020 and is expected to reach $XX Million by 2028 growing at the CAGR of XX% from 2021 to 2028.

For more information on the report:https://evolvebi.com/product/automotive-steering-system-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the automotive steering system market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

In terms of COVID 19 impact, the automotive steering system market report also includes the following data points:
• COVID19 Impact on automotive steering system market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in automotive steering system market

Analyst View
According to Swapnil, Principal Analyst, Evolve Business Intelligence, “The automotive steering system market was negatively impacted by the decline in vehicle production in this pandemic. This is attributed to the temporary closedown of manufacturing facilities to contain the virus spread. Further, the automotive sector has also witnessed a decline in demand during the pandemic.”

Competitive Scenario
Some of the major automotive steering system players holding high market share include JTEKT Corporation, Robert Bosch, Hyundai Mobis Co. Ltd, and Mando Corporation. These players use new product development and collaboration as a key strategy to gain significant market share to compete with market leaders.

Segmental Analysis
The report's aim is to provide a holistic market overview based on Type, Component, Technology, and Vehicle Type
• Type
o Column-eps (C-Eps)
o Pinion-eps (P-Eps)
o Rack-eps (R-Eps)
• Component
o Hydraulic pump
o Steering column
o Steering wheel speed sensor
o Electric motor
• Technology
o Electric power steering (EPS)
o Electrically assisted hydraulic power steering (EHPS)
o Hydraulic power steering (HPS)
• Vehicle type
o Passenger car (PC)
o Light commercial vehicle (LCV)
o Heavy commercial vehicle (HCV)

Report Coverage
The study also contains a comprehensive value chain, as well as details on the key factors affecting the market growth (drivers, constraints, and opportunities). Furthermore, the report includes 10 key players in the automotive steering system market ecosystem that have been strategically profiled, along with the market ranking/share for major players. Under the company profile section, the company’s core competencies have been comprehensively analyzed, along with detailing the competitive landscape for the market players, and the strategies such as partnerships and collaboration, acquisitions, product launches and developments, contracts, and business expansion adopted by them to grow in the market.

The key players profiled in the report are:
• JTEKT Corporation
• Robert Bosch
• Nexteer Automotive Group Limited
• China Automotive Systems Inc.
• Mando Corporation
• ThyssenKrupp Presta
• Showa Corporation
• Hyundai Mobis Co. Ltd
• Sona Koyo Steering Systems Ltd.
• NSK Ltd

To request a free sample report, click on the “Request Sample PDF” button on https://evolvebi.com/product/automotive-steering-system-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

Research Methodology
This research study makes substantial use of secondary sources, archives, and databases (such as annual reports, news releases, magazines, Trade map, company websites, and other paid databases) to classify and gather information valuable for this analysis. The entire process involves a review of top industry participants' financial records. Following the determination of the overall market size, the total market was divided into several segments and sub-segments, and this information was then verified through key industry specialists such as CEOs, directors, VPs, and marketing executives.

Report Objectives
• To define, describe, and forecast the automotive steering system market, in terms of value, segmented on the basis of indication, type, technology, and geography
• To forecast the market size across 4 key regions—Asia Pacific (APAC), North America, Europe, and Rest of the World (RoW)
• To provide detailed information regarding drivers, restraints, and opportunities, in the automotive steering system market
• To provide an overview of the value chain analysis pertaining to the automotive steering system industry
• To strategically analyze each segment and subsegment with respect to individual overall growth trends and their contribution to the overall automotive steering system market
• To analyze opportunities in the market by identifying high-growth segments of the automotive steering system market
• To profile key players in the automotive steering system market and comprehensively analyze their core competencies
• To analyze competitive developments such as partnerships, product launches and developments, contracts, and mergers and acquisitions carried out in the global automotive steering system market

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This release was published on openPR.