Automotive Steering Systems Market is expected to reach USD 44.30 Billion by 2029
To meet the demand for lower emissions, the car industry has accelerated the electrification of various normally mechanical systems. From supercharging to power steering, everything has been electrified to reduce emissions while also boosting safety, streamlining operations, and giving a better driving experience. Electronic power steering systems provide several advantages over hydraulic power steering systems, including lower weight, maintenance, and fuel usage, as well as enhanced variable steering response at different speeds.
Automotive Steering Systems Market Overview:
The MMR’s Automotive Steering Systems Market report provides a market overview, market structure, as well as preventative and pre-planned management strategies for survival in the industry. The report focuses on the factors which influences the Automotive Steering Systems Market, such as gross margin, cost, market share, capacity utilization, and supply and demand in the industry. The Automotive Steering Systems market report also estimates the future potential of the Automotive Steering Systems market and possibility of upcoming opportunities in next few years during the forecast period.
Automotive Steering Systems Market Scope
The report focuses on the major key drivers and restraints for key companies, as well a s the current competitive benchmarking and development prospects. The report consists of the comprehensive analysis of the key competition of the industry by analysing the key profiles with their product portfolios, financial performances, annual reports, revenue generated, marketing tactics and specific players regional presence in the industry.
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The data collected from many sources such as the paid and free databases, telephonic interviews, annual reports, government survey reports are all scrutinized by the MMR’s leading research team and experts of the market research and is represented scientifically in the forms of the graphs, pie charts and tables in simple understandable language for the user. The research tools such as SWOT analysis, PESTLE analysis and PORTER’s five forces are undertaken by the research team for analysing the qualitative and quantitative data.
Segmentation:
Based on Vehicle Type, the automotive steering system market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger car category is expected to dominate the automotive steering system market during the forecast period, thanks to the rising sales and production in Asia Pacific emerging nations.
Based on Technology, the automotive steering system market is segmented into electric power steering (EPS), manual steering, hydraulic power steering (HPS), and electro-hydraulic power steering (EHPS). Because automakers are increasingly incorporating electric power steering into all vehicle models, the electric power steering sector is expected to dominate the automotive steering system market over the forecast period.
Key Players :
● 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
● Magna International
● Mitsubishi Electric Corporation
● Denso Corporation
● Sona Corporation
● Knorr-Bremse AG
● ZF Friedrichshafen AG
● Rollax GmbH & Co. KG
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Regional Analysis:
The study delves into the Automotive Steering Systems market in depth, segmenting it into regions. The regional analysis provide the specific market share by the specific market regions acquired by the key players. The government initiatives and subsidiaries for the Automotive Steering Systems market are also covered for studying the potential impacts of it on the market. Each region's market is thoroughly researched, allowing for the discovery of regional market trends, constraints, and growth potential.
Key Questions answered in the Automotive Steering Systems Market Report are:
- What is Automotive Steering Systems Market?
- What is the forecast period of the Market?
- What is the competitive scenario of the market?
- Which region held the largest market share in the Market?
- What are the opportunities for the Market?
- What factors are affecting the market growth?
- Who are the key players of the market?
- Which company held the largest share in the market?
- What will be the CAGR of the market during the forecast period?
- What key trends are likely to emerge in the market in the coming years?
Key offerings:
- Market Share, Size, and Forecast by Revenue|2022-2029
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis by Automotive Steering Systems Market
- Landscape- Leading key players and other prominent key players.
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