Outlook of the global automotive steering system market
Market research analyst predicts the global automotive steering system market to grow at a steady CAGR of more than 8% by 2020. The integration of driver assistance systems in vehicles and the development of the steer-by-wire steering system will aid in the growth of this market. Since the automotive steering system market is an integral part of the global automobile market, an increase in the global sale of automobiles will foster growth in the steering systems market during the estimated period.
To Download Sample Report With TOC@ http://www.researchmoz.us/enquiry.php?type=S&repid=494367
In terms of geography, the APAC region will dominate the market for steering systems during the forecast period. This region will account for a market share of more than 52% as it is the fastest and largest automotive market. This region is also the largest hub for automotive manufacturing activities due to its relaxed government incentives, low cost, and raw material advantages. Also, factors like low-cost labor, government incentives such as tax exemption and subsidy towards local manufacturing, and free-trade agreements with other countries in the region will promote market growth in this region during the predicted period.
Segmentation by end market and analysis of automotive steering system market
Aftermarket
OEM
In this market study, analysts have estimated the OEM segment to be the largest market segment during the predicted period. This segment currently accounts for a market share of approximately 77% and is envisaged to retain its dominating hold over the market by 2020 owing to structural changes in terms of electrification of automotive mechanisms, emission regulations, connectivity, and safety. Additionally, factors such as growing investments in the R&D of steer-by-wire technologies will result in the growth of this market segment during the predicted period.
Product-type segmentation of the automotive steering system market
Hydraulic power steering (HPS)
Electro-hydraulic power steering (EHPS)
Electric power steering (EPS)
Market research analysts have estimated the EPS system segment to account for an impressive market share of approximately 59% during the forecast period. Benefits such as its high fuel efficiency and reduction in weight, low development cost, and low energy consumption will foster the prospects for growth in this market segment during the estimated period.
Competitive landscape and key vendors
The global automotive steering system market is fragmented due to the presence of well-diversified global and regional vendors. The competitive environment in this market is expected to intensify with an increase in R&D innovations and M&A activities during the forecast period. The market is also likely to witness a growing trend of local acquisitions by the leading players as it will help them to boost their revenue generating capacity.
Top vendors analyzed in this market study are -
Bosch
JTEKY
Mando
Nexteer
TRW
Thyssen Krupp
Other prominent vendors in the market include Atmel, China Automotive Systems, Denso, Douglas Autotech, Mitsubishi Electric, NSK, Tianjin Jinfeng Automobile Chassis Parts, and Zhjiang Shibao.
Key questions answered in the report
What will the market size and the growth rate be in 2020?
What are the key factors driving the global automotive steering system?
What are the key market trends impacting the growth of the automotive steering system?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global automotive steering system?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the automotive steering system?
Also offers customization on reports based on specific client requirement. Read more ....
To Enquire Regarding This Report@ http://www.researchmoz.us/enquiry.php?type=E&repid=494367
About ResearchMoz
ResearchMoz is the world’s fastest growing collection of market research reports worldwide. Our database is composed of current market studies from over 100 featured publishers worldwide. Our market research databases integrate statistics with analysis from global, regional, country and company perspectives. ResearchMoz’s service portfolio also includes value-added services such as market research customization, competitive landscaping, and in-depth surveys, delivered by a team of experienced Research Coordinators.
Blog: http://dynamicmarketresearch.blogspot.com/
Market research analyst predicts the global automotive steering system market to grow at a steady CAGR of more than 8% by 2020. The integration of driver assistance systems in vehicles and the development of the steer-by-wire steering system will aid in the growth of this market. Since the automotive steering system market is an integral part of the global automobile market, an increase in the global sale of automobiles will foster growth in the steering systems market during the estimated period.
To Download Sample Report With TOC@ http://www.researchmoz.us/enquiry.php?type=S&repid=494367
In terms of geography, the APAC region will dominate the market for steering systems during the forecast period. This region will account for a market share of more than 52% as it is the fastest and largest automotive market. This region is also the largest hub for automotive manufacturing activities due to its relaxed government incentives, low cost, and raw material advantages. Also, factors like low-cost labor, government incentives such as tax exemption and subsidy towards local manufacturing, and free-trade agreements with other countries in the region will promote market growth in this region during the predicted period.
Segmentation by end market and analysis of automotive steering system market
Aftermarket
OEM
In this market study, analysts have estimated the OEM segment to be the largest market segment during the predicted period. This segment currently accounts for a market share of approximately 77% and is envisaged to retain its dominating hold over the market by 2020 owing to structural changes in terms of electrification of automotive mechanisms, emission regulations, connectivity, and safety. Additionally, factors such as growing investments in the R&D of steer-by-wire technologies will result in the growth of this market segment during the predicted period.
Product-type segmentation of the automotive steering system market
Hydraulic power steering (HPS)
Electro-hydraulic power steering (EHPS)
Electric power steering (EPS)
Market research analysts have estimated the EPS system segment to account for an impressive market share of approximately 59% during the forecast period. Benefits such as its high fuel efficiency and reduction in weight, low development cost, and low energy consumption will foster the prospects for growth in this market segment during the estimated period.
Competitive landscape and key vendors
The global automotive steering system market is fragmented due to the presence of well-diversified global and regional vendors. The competitive environment in this market is expected to intensify with an increase in R&D innovations and M&A activities during the forecast period. The market is also likely to witness a growing trend of local acquisitions by the leading players as it will help them to boost their revenue generating capacity.
Top vendors analyzed in this market study are -
Bosch
JTEKY
Mando
Nexteer
TRW
Thyssen Krupp
Other prominent vendors in the market include Atmel, China Automotive Systems, Denso, Douglas Autotech, Mitsubishi Electric, NSK, Tianjin Jinfeng Automobile Chassis Parts, and Zhjiang Shibao.
Key questions answered in the report
What will the market size and the growth rate be in 2020?
What are the key factors driving the global automotive steering system?
What are the key market trends impacting the growth of the automotive steering system?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global automotive steering system?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the automotive steering system?
Also offers customization on reports based on specific client requirement. Read more ....
To Enquire Regarding This Report@ http://www.researchmoz.us/enquiry.php?type=E&repid=494367
About ResearchMoz
ResearchMoz is the world’s fastest growing collection of market research reports worldwide. Our database is composed of current market studies from over 100 featured publishers worldwide. Our market research databases integrate statistics with analysis from global, regional, country and company perspectives. ResearchMoz’s service portfolio also includes value-added services such as market research customization, competitive landscaping, and in-depth surveys, delivered by a team of experienced Research Coordinators.
Blog: http://dynamicmarketresearch.blogspot.com/
No comments:
Post a Comment