India Automotive Steering System Market : Steering Wheel, Steering Column, Steering Coupler, Steering Gear Industry Forecast, 2019-2026

According to a recent report published by Allied Market Research, titled, "India Automotive Steering System Market by Type, Vehicle Type, Sales Channel, and Component: Opportunity Analysis and Industry Forecast, 2019-2026," the India automotive steering system market size was valued at $4.68 billion in 2017, and is projected to reach $10.04 billion by 2026, registering a CAGR of 9.0% from 2019 to 2026.

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The automotive industry has witnessed the introduction of the drive-by-wire technology that includes electrical or electro-mechanical systems for performing vehicle functions such as braking, acceleration, and steering, which were traditionally achieved by mechanical linkages. The electrical or electro-mechanical systems bypass the traditional mechanical system to give steering responsiveness and accuracy.

In addition, it increases the fuel efficiency by installation of electronic control unit (ECU), which results in increase in comfort of the drive. Hence, surge in deployment of such technologically advanced systems is anticipated to drive the India automotive steering system market growth during the forecast period.

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Key Findings of the India Automotive Steering System Market :

Based on steering type, the electronic power steering segment generated the highest revenue in the India automotive steering system industry in 2017.
Hydraulic power steering system is anticipated to exhibit the highest CAGR during the India automotive steering system market analysis.
Based on component, the steering gear accounts for the highest market share in 2017.

The key players profiled in the India automotive steering system market share include WABCO, Rane Holdings Limited, JTEKT Corporation, Mando Corporation, Knorr-Bremse, ZF steering gear India, Nexteer Automotive Group Limited, Bosch Auto Parts, thyssenkrupp Business Area Components Technology, and DENSO CORPORATION.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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