Press release
Automotive Steering Market Growth, Opportunity, Business Trend, and Future Outlook 2021-2026| Robert Bosch GmbH, JTEKT Corporation
The Automotive Steering Market research report added by MarketInsightsReports is an in-depth analysis of the latest trends, market size, status, upcoming technologies, industry drivers, challenges, regulatory policies, with key company profiles and strategies of players. The research study provides market introduction, Automotive Steering Market definition, regional market scope, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Automotive Steering Market size forecast, 100+ market data, Tables, Pie Chart, Graphs and Figures, and many more for business intelligence. This research report also provides post COVID-19 impact analysis of the Automotive Steering industry.The Automotive Steering Market is expected to register a CAGR of around 5.5%, during the forecast period 2021 to 2026.
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Top Companies in the Global Automotive Steering Market: –
Robert Bosch GmbH, JTEKT Corporation, Nexteer Automotive Corporation, NSK Ltd, Showa Corporation, Mando Corporation, Sona Corporation, ZF Friedrichshafen AG, Hitachi Automotive Systems Limited
Industry News and Development:
- In June 2018, Infineon Technologies AG developed a new magnetic angle sensor, TLE5014. The new product can be easily integrated into an electric steering system. The TLE5014 sensors meet ISO26262 ASIL C for the single die and ISO26262 ASIL D for the dual die versions.
Regional Analysis:
Furthermore, to broaden the understanding, researchers have studied the global Automotive Steering market from a geographical point of view, considering the potential regions and countries. The regional analysis will assist the market players in making sound decisions regarding their future investments.
Automotive Steering Market report includes the following geographic areas such as North America, Europe, China, Japan, Southeast Asia, India and ROW.
Market Scope:
- Power steering is standard and has been increasing in most of the passenger cars around the world. However, in the emerging markets, some entry-level vehicles have been sold without a power steering.
- Power steering or rather power-assisted steering was introduced to assist the driver in reducing the manual effort. An advantage of power steering is its adjustable speed characteristic, where the steering has been assisted more at low speed and assisted lightly at high speed, in order to increase the control over the vehicle.
- Electric systems are significantly fuel-efficient, due to the absence of belt-driven hydraulic or manual pumps, which can run continuously, whether assistance is required or not.
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Key Market Trends
Increasing Adoption of Sensors
The sensor located in the steering column measures two primary driver inputs torque (steering effort) and steering wheel speed and position. Thus, there are three types of sensors used in such systems, namely torque sensor, steering wheel speed sensor, and position sensor.
These sensors deliver the signals as inputs to an ECU, which provides an appropriate output to the steering system for an action to take place.
Torque sensors are generally non-contact sensors. The sensor measures the steering force applied by the driver, and thus, enables sensitive control of the electric steering support.
Europe holds a significant share in the Market
The electric vehicle market has been rapidly growing across the world. For instance, in Europe, electric vehicle sales increased by 37% in 2018, as compared to that of 2017. Additionally, several governments across the world have formulated various policies, incentives, and projects to support the usage of electric vehicles.
By 2024, nearly 4% of the new car sales and 7% of the global car fleet are expected to be electric. With the growing electric vehicle sales, the deployment rate of lightweight steering systems (like electric power steering (EPS)) is expected to see a potential demand during the forecast period.
Following are major Table of Content of Automotive Steering Industry:
Automotive Steering Market Sales Overview.
Automotive Steering Market Sales Competition by Manufacturers.
Automotive Steering Market Sales Analysis by Region.
Automotive Steering Market Sales Analysis by Type.
Automotive Steering Market Analysis by Application.
Automotive Steering Market -Manufacturers Analysis.
Reasons to Invest:
Market Size Forecasts: The authors of the report have provided accurate estimation of the global Automotive Steering market size based on value and volume
Market Trend Analysis: This section of the report throws light on the approaching trends and developments in the global Automotive Steering market
Future Prospects: The report here offers crucial information on the rewarding opportunities in the global Automotive Steering market
Automotive Steering market report allows an understanding of the market and benefits from any lucrative opportunities that are available. Researchers have offered a comprehensive study of the existing market scenario while concentrating on the new business objectives. There is a detailed analysis of the change in customer requirements, customer preferences and the vendor landscape of the overall market.
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We Offer Customization On Report Based On Specific Client Requirement:
Free country Level analysis for any 5 countries of your choice.
Free Competitive analysis of any 5 key market players.
Free 40 analyst hours to cover any other data point.
If you have any special requirements, please let us know and we will offer you the report as you want.
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Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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