The steering market is projected to grow at a CAGR of 6.47% from 2016 to 2021, to reach a market size of USD 42.77 billion by 2021.
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Study on Steering Market highlights key players such as JTKET Corporation, Robert Bosch Automotive Steering GmbH, ZF TRW, Nexteer Automotive, NSK Ltd., Showa Corporation, Hitachi Automotive Systems Ltd., China Automotive Systems, Hyundai Mobis, ThyssenKrupp AG.
- Attractive Opportunities in the Automotive Steering System Market
- Automotive Steering System Market Share, By Type & Region
- Automotive Steering System Market, By Country
- Automotive Steering System Market, By Component
- Electric Power Steering Market, By Type
- Passenger Car Power Steering System Aftermarket, By Type
Hydraulic Power Steering (HPS) is a commonly used steering technology for commercial vehicles. However, the system is not adequately advanced and is frequently replaced by more sophisticated solutions such as Electro-Hydraulic Power Steering(EHPS).
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The EHPS segment of the steering market is projected to grow at a high CAGR during the forecast period, owing to the benefits offered by the technology, such as low emission levels, better fuel economy, and improved maneuverability.
The automotive industry is one of the key industries in Europe, which is home to several major automobile companies. Given the increasing competition from developing countries such as India, China, Brazil, and Russia and the financial crisis in Europe, the automobile sector in the region has witnessed a decline in revenue in the past few years.
Regular updates in vehicle safety norms make it challenging for manufacturers to provide advanced technologies at an affordable price.
Key Points From Table Of Content:
5 Market Overview
5.2 Market Segmentation
5.2.1 Automotive Steering System: Market Segmentation
5.3 Market Dynamics
184.108.40.206 Increasingly Stringent Fuel Efficiency Norms to Drive the Demand for Electronically Assisted Steering Systems
220.127.116.11 Growing Vehicle Production
18.104.22.168 Increasing Consumer Preference for Driving Comfort
22.214.171.124 Limited Load Bearing Capacity of EPS Systems
126.96.36.199 High Cost of Assisted Power Steering System
188.8.131.52 Use of EPS in Commercial Vehicles
184.108.40.206 Adoption of Steer-By-Wire Technology
220.127.116.11 Maintaining Balance Between High Cost & Performance of Smart Steering Systems
5.4 Porter’s Five Forces Analysis
5.4.1 Threat of New Entrants
5.4.2 Threat of Substitutes
5.4.3 Bargaining Power of Suppliers
5.4.4 Bargaining Power of Buyers
5.4.5 Intensity of Competitive Rivalry
Complete report on Steering Market spread across 165 Pages, Profiling 10 Companies and Supported with 88 Tables and 58 Figures is now available at www.rnrmarketresearch.com/steering…arket-report.html
The report covers the steering market based on steering type (manual, HPS, EHPS, and EPS), component (hydraulic pump, steering column, steering wheel speed sensor, and electric motor), vehicle type (passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs)) and region (Asia-Oceania, North America, Europe, and the Rest of the World (RoW)). The EPS market is further segmented on the basis of type into column-assist EPS (C-EPS), pinion-assist EPS (P-EPS), and rack-assist EPS (R-EPS).
The report also includes a study of the aftermarket for passenger car power steering systems, by type (EPS and HPS).
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