Research On Automotive Steering System Market – Industry Growth, Trends and Forecast, 2014 – 2021
Automotive steering system is an arrangement of inter linked gears called pinion and worm by which reciprocating motion is obtained using rotational motion i.e. through means of steering wheel which enables the automobile to take turns on curvy roads. In modern advanced automobiles rack and pinion steering system is used, but in heavy equipment automobiles hydraulic steering systems are used which are efficient and reduces the driver’s effort.
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This report examines the global automotive steering system market and provides information regarding the revenue (USD Million) for the period 2014 to 2021. It further elaborates the market drivers which contribute to the growth. It then describes the restraints that are faced by the market. The market is classified into various segments with deep analysis of each segment for the study period.
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A. Drivers :
1. Growth of automotive sector in emerging markets
2. Better road feedback
3. Fuel efficient
B. Restraints :
1. High cost of EPS system
Report includes a detailed analysis on value chain in order to provide a holistic view of the automotive steering system market. Value chain analysis comprises detailed evaluation of the roles of various players involved in the automotive steering system market industry, from raw material suppliers to end-users.
C. Market Analysis :
Automotive Steering system market attractiveness analysis has been included in order to analyze the application segments that are estimated to be lucrative during the forecast period on the basis of their market size and growth rate. Attractiveness of the market has been derived from market size, profit margin, growth rate, and availability of raw materials, competition, and other factors such as social and legal constraints. The automotive steering system market has further been segmented based on vehicle types such as heavy commercial vehicle (HCV), light commercial vehicle (LCV) and passenger vehicle. The study provides forecast and estimates market for each vehicle type in terms of revenue and volume during the forecast period from 2015 to 2021.
D. Insight Region Of Markets :
In terms of geography, the automotive steering system market has been segmented into regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The study provides a detailed view of country-level aspects of the market on the basis of application segments and estimates the market in terms of revenue and volume during the forecast period.
E. Methodology :
Combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific Details on methodology used for this report can be provided on demand.
SEGMENTATIONS IN REPORT :
1. Automotive Steering System Market by Vehicle Type :
a. Heavy Commercial Vehicle (HCV)
b. Light Commercial Vehicle (LCV)
c. Passenger Vehicle
2. Automotive Steering System Market by Steering Type :
a. Electronic Power Steering (EPS)
b. Electro-Hydraulic Power Steering (EHPS)
c. Hydraulic Power Steering (HPS)