Press release
The global electric steering market is expected to show a growth at CAGR of about 15% from 2016 to 2021.
Electric Steering Market
Electric steering is increasing replacing hydraulic steering’s in the automotive industry. Usage of electric steering will improve the fuel economy because electric steering uses around 8-10 horsepower under load. Electric powered steering uses electric motor instead and provides increased steering capabilities with less effort, as it removes hose, fluid, drive belt, pulley, and pump. Growth in the improved steering & reliability, and high fuel efficiency of electric steering over hydraulic steering systems is expected to drive the market of electric steering. The global electric steering market is expected to show a growth at CAGR of about 15% from 2016 to 2021.
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Study Objectives of Global Electric steering Market
To provide detailed analysis of the market structure along with forecast for the next five years of various segments and sub-segments of the global Electric steering market
To provide insights about factors affecting the market growth
To analyze the global Electric steering market based on various factors such as supply chain analysis, and Porter’s five forces analysis
To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries - North America, Europe, Asia-Pacific, and ROW.
To provide country level analysis of the market with respect to the current market size and future prospective
To provide country level analysis of the market for segment by type, vehicle type and region.
To provide strategic profiling of the key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global electric steering market
Regional Analysis of Global Electric steering Market
Asia-Pacific has emerged to be fastest growing market for electric steering market. This region has largest vehicle production due to increasing population and increasing disposable income. Increasing population, improving per capita income, and improving living standards are driving the market for automotive industries and hence expected to drive the market for electric steering.
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Major Key Players:
The key players of Global Electric steering Market report include-
JTEKT Corporation,
Robert Bosch Automotive Steering GmbH
ZF TRW Automotive Holdings Corp.
NSK Ltd.
Nexteer Automotive Group Limited
Mando Corporation
ThyssenKrupp Ag
Hyundai Mobis Co., Ltd.
Showa Corporation
China Automotive Systems Inc.
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