According to the automotive steering systems market survey report, the market is expected to witness a relatively higher growth rate during the forecast period 2018-2023.
Global automotive steering systems market size is expected to grow at a CAGR of +6.1% to reach +$41,189 million by 2022. The steering system has evolved from manual steering to power assist steering.
Moreover, effective steering system increases the fuel efficiency of the vehicle. Automotive steering system market is projected to hold potential growth opportunities in the future.
The automobiles having power steering system are expected to witness high demand. The electric and hybrid electric vehicles with new technologies such as drive-by-wire are anticipated to increase the demand of steering systems during the forecast period.The numbers interpreted from subordinate research is converged into the research report after approval of the market data approximations through different conferences and analyses directed and gathered information from the industry and market authorities.
Top Key Vendors: TRW Automotive Holdings, Mitsubishi Electric Corporation, Robert Bosch Automotive Steering GmbH, JTEKT Corporation, Nexteer Automotive, Thyssenkrupp Presta AG Aktiengesellschaft, China Automotive Systems Inc, ZF Friedrichshafen Manufacturing Company, Hyundai Mobis Co. Ltd, Sona Koyo Steering Systems Ltd
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According to the research report, the global Automotive Steering Systems market is witnessing a continual rise in its valuation with the advancement in technologies, which is impacting the consumer behavior and, accordingly, their purchasing patterns to a great extent. In addition to this, the increasing penetration of internet and the surge in mobile surfing are expected to boost the demand across the world, states the research report.
This research study presents an all-inclusive evaluation of the global Automotive Steering Systems market taking various industry parameters, such as the capacity of production, product pricing, demand, supply, and sales dynamics, returns on investments, and the growth rate of the overall market into consideration.
On the basis of geographical regions, the Global Automotive Steering Systems Market is segmented broadly into Latin America, Europe, the Middle East and Africa, and Asia Pacific. The global market is still in its exploratory stage in most of the regions but it holds the promising potential to flourish steadily in coming years.
The major companies investing in this market are situated in Canada, U.K., and the US, India, China and some more countries of Asia Pacific region. Consequently, Asia Pacific, North America, and Western Europe are estimated to hold more than half of the market shares, collectively in coming years.
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The major growth drivers, challenges, and trends influencing the global market are inspected at length. The report also presents a thorough qualitative and quantitative data affecting to the projected impact of these factors on market’s future growth prospects.
A number of analysis tools such as Porter’s five forces analysis and SWOT analysis have been employed to provide an accurate understanding of this market. Also, the report is compiled in a way for the readers and customers to understand better.
In the last sections of the report, the manufacturers responsible for increasing the sales in the Automotive Steering Systems Market have been presented.
Table of Content:
Chapter 1 Automotive Steering Systems Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
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