Press release
Automotive Steering System Market : Electronic Power Steering, and Electro-Hydraulic Power Steering System 2018 - 2025
The global automotive steering system market was valued at $29,423.8 million in 2017, and is projected to reach $45,349.8 million by 2025, registering a CAGR of 5.4% from 2018 to 2025. In 2017, Asia-Pacific accounted for the highest share in the global automotive steering system market.Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/2317
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.
Passenger vehicles segment to retain dominance,commercial vehicles segment to manifest fastest growththrough 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 sharethrough 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).
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/2317
Key market players
The key players analyzed in the report include China Automotive Systems Inc., JTEKT Corporation, Nexteer Automotive, Mando Corporation, AG, Robert Bosch Automotive Steering GmbH, Showa Corporation, NSK Ltd, Mitsubishi Electric Corporation, Sona Koyo Steering Systems Ltd., and Hyundai Mobis Co. Ltd.
Read More Reports -
Freight Brokerage Market - https://www.alliedmarketresearch.com/freight-brokerage-market-A07882
Motorhome Vehicle Market - https://www.alliedmarketresearch.com/motorhome-vehicle-market-A07878
Vehicle Trailer Hitch Market - https://www.alliedmarketresearch.com/vehicle-trailer-hitch-market-A07887
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
About Us -
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.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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 : Electronic Power Steering, and Electro-Hydraulic Power Steering System 2018 - 2025 here
News-ID: 2985196 • Views: …
More Releases from Allied Market Research
Seaweed Market Size Estimated to Reach USD 18.1 Billion by 2034 | CAGR 9.5%
According to a new report published by Allied Market Research, titled, "Seaweed Market," The seaweed market size was valued at $7.5 billion in 2024, and is estimated to reach $18.1 billion by 2034, growing at a CAGR of 9.5% from 2025 to 2034.
Seaweed is a diverse group of macroscopic marine algae that grow in oceans, usually attaching to rocks or submerged surfaces. It is cultivated on marine farms or collected…
School Uniform Market is likely to expand US$ 33.1 billion at 5.8% CAGR by 2034
According to a new report published by Allied Market Research, titled, "School Uniform Market by Type, Form, and Material: Global Opportunity Analysis and Industry Forecast, 2025-2034," School Uniform Market Size was valued at $18.9 billion in 2024, and is projected to reach $33.1 billion by 2034, growing at a CAGR of 5.8% from 2025 to 2034.
Request The Sample PDF Of This Report: @ https://www.alliedmarketresearch.com/request-sample/A13721
School uniforms most commonly…
Vegan Cosmetics Market is poised to reach USD 28.5 billion, growing at a 5.9% CA …
According to a new report published by Allied Market Research, titled, "Vegan Cosmetics Market," The vegan cosmetics market size was valued at $16.6 billion in 2021, and is estimated to reach $28.5 billion by 2031, growing at a CAGR of 5.9% from 2022 to 2031.
Request The Sample PDF Of This Report: https://www.alliedmarketresearch.com/request-sample/16708
Vegan cosmetics are made up of chemical compounds taken from natural or synthetic sources that do…
Curly Hair Care & Styling Products Market is likely to grow at a CAGR of 4.7% th …
The curly hair care and styling products market was valued at $9,716.0 million in 2021, and is projected to reach $15,654.8 million by 2031, registering a CAGR of 4.7% from 2022 to 2031.
Request The Sample PDF of This Report @: https://www.alliedmarketresearch.com/request-sample/47920
As the market for textured hair care products expands, formulators keep coming up with efficient ways to meet the unique requirements…
More Releases for CAGR
[CAGR of 6.7%] Nanocoatings Market Size, Industry Share, CAGR, Regional Forecast …
The global Nanocoatings Market generated $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Download sample PDF @ https://www.alliedmarketresearch.com/request-sample/2064
According to the report published by Allied Market Research,…
[CAGR of 5.3%] Pigments Market Size, Industry Share, CAGR, Regional Forecast, 20 …
A recent report by Allied Market Research provides a detailed analysis of the pigments market, highlighting its robust growth. The industry was valued at $27.2 billion in 2022 and is projected to surge to $45.4 billion by 2032, exhibiting an impressive CAGR of 5.3% from 2023 to 2032.
This research report identifies the growth drivers behind the market's expansion and delves into the market dynamics using advanced analytical frameworks…
Enzymes Market Expansion CAGR of 4.9% CAGR Anticipated 2025-2034
The Enzymes Market report is an in-depth examination of the global Enzymes Market's general consumption structure, development trends, sales techniques, and top nations' sales. The research looks at well-known providers in the global Enzymes Market industry, as well as market segmentation, competition, and the macroeconomic climate. A complete Enzymes Market analysis takes into account a number of aspects, including a country's population and business cycles, as well as market-specific microeconomic…
Waterproofing Membranes Market is Projected Grow at CAGR of 8% CAGR by 2033
The waterproofing membranes market is anticipated to witness a Compound Annual Growth Rate (CAGR) of 8.0% over the forecast period. By 2023, the estimated market value for waterproofing membranes is substantial, reaching US$ 31.5 billion.
These waterproofing materials comprise thin, impermeable membranes designed to collaborate with asphalt, providing a protective shield for the structural integrity of buildings. The asphalt component in these membranes acts as a safeguard, preserving the underlying membrane…
Electric Bed Market CAGR, Size, Share Grow USD 2,063 Million by 2030 CAGR 13.70%
Global electric bed market size is expected to be worth roughly USD 2,063 million by 2030, growing at a CAGR of more than 13.7% during the projected timeframe of 2022-2030, according to Ameco Research
A significant portion of the population over the age of 60, who often have reduced immunity levels and are more susceptible to neurological disorders, cardiac issues, tumors, and spinal cord compression, is anticipated to have a substantial…
Pediatric Radiology Market Size will Grow at CAGR 7.7% CAGR during 2017-2026
Pediatric Radiology Market:Overview
The pediatric radiology market is likely to register robust growth in the near future. Chronic illnesses among children including neurological disorders such as ADHD are on the rise. According to the US labor bureau, the demand for pediatrician is expected to grow by 24% on average by 2020. This is the highest average growth among all professionals in the United States.
Despite challenges such as training for new…
