Press release
Automotive Steering Systems Market Worth 46.55 billion by 2031 Exclusive Report
Automotive Steering Systems Market to surpass USD 46.55 billion by 2032 from USD 29.3 billion in the year 2022 at a CAGR of 4.74% throughout the forecast period 2022-32. Specific areas, such as application and product type, are included in the global Automotive Steering Systems Market research study. During the predicted period of 2022 to 2032, each kind gives data on sales. The Automotive Steering Systems Market analysis delves into the characteristics and financials of the leading market participants. This detailed research is not just for business analysts; it can be used by any existing or new entrant when developing business strategies.
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The global automotive steering systems market refers to the various components and technologies used to control the direction and movement of a vehicle. This includes power steering systems, electric power steering systems, hydraulic steering systems, and other advanced steering technologies. The market is driven by factors such as increasing demand for safe and efficient vehicles, technological advancements in the automotive industry, and rising disposable incomes in developing economies. Key players in the market include companies such as ZF Friedrichshafen AG, JTEKT Corporation, Robert Bosch GmbH, and Thyssenkrupp AG. The market is expected to continue to grow in the coming years, driven by increasing demand for advanced safety and convenience features in automobiles.
COVID-19 Impact Study:
The COVID-19 pandemic had a big burden on Automotive Steering Systems Market worldwide. The industry witnessed slow production and manufacturing activities. The industry also could not satisfy the regular needs of consumers across the globe. However, businesses, strategy planners, and marketing executives planned effective events that would take their businesses on the next level post-pandemic. Steps have been taken to control the demand and supply cautiously in order to deliver the products without compromising on the labor involved in the manufacturing.
The global Automotive Steering Systems Market has a promising future, with Automotive Steering Systems Market having significant development potential in emerging regions. The rapid expansion of the millennial population in emerging countries, greater smartphone usage, internet penetration, access to online payment options, and technological breakthroughs such as big data and cloud-based Automotive Steering Systems Market platforms are all driving the Automotive Steering Systems Market company.
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Global Automotive Steering Systems Market, Key Companies & Market Share Insights:
The sector is extremely competitive and depends on technological advances and product developments due to the presence of multinationals as well as regional market participants. Major market players have made substantial investments in research and development in recent years, resulting in the production of a number of novel goods that may be employed across the market.
Some of the major companies in the global Automotive Steering Systems Market:
• China Automotive Systems, Inc.
• Nexteer Automotive
• Hitachi Automotive Systems Americas, Inc.
• Hyundai Mobis
• JTEKT Corporation
• The Mando Corporation
• NSK Ltd.
• Robert Bosch GmbH
• Showa Corporation
• ThyssenKrupp AG
Segments included in the Report
This report forecasts revenue growth at the global level, regional level, and country level and offers analysis of the recent industry trends along with opportunities in each of the sub-segments from 2022 to 2032.
By Technology
o Electric power steering (EPS)
o Electrically assisted hydraulic power steering (EHPS)
o Hydraulic power steering (HPS)
By Type
o Column-EPS (C-EPS)
o Pinion-EPS (P-EPS)
o Rack-EPS (R-EPS)
By Component
o Hydraulic pump
o Steering column
o Electric motor
By Pinion-type
o Single
o Dual
By Vehicle Type
o Passenger car (PC)
o Light commercial vehicle (LCV)
o Heavy commercial vehicle (HCV)
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Browse
• 325 Market data Tables
• 62 Figures
• 369 Pages and in-depth TOC
Key questions answered by the report:
• What are the new and potential applications of Automotive Steering Systems Market?
• What will be the future of Automotive Steering Systems Market?
• Which segment has the greatest potential to register the highest market share in the coming years?
• Where will all the stated developments take the Automotive Steering Systems Market in the mid-to-long term?
• What is the present competitive landscape in the Automotive Steering Systems Market with respect to new technologies, sales and production?
Related Links:
Automotive Safety Systems Market https://www.fatposglobal.com/reports/automotive-safety-systems-market-1391
Automotive Tires Market https://www.fatposglobal.com/reports/automotive-tires-market-1396
Automotive Data Cloud Technology Market https://www.fatposglobal.com/reports/automotive-data-cloud-technology-market-1410
Automotive Inverter Market https://www.fatposglobal.com/reports/automotive-inverter-market-1411
Highway Driving Assist Market https://www.fatposglobal.com/reports/highway-driving-assist-market-1418
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