A new report published by Future Market
Insights titled “Automotive
Steering System Market: Global Industry Analysis (2012 – 2016)
and Opportunity Assessment (2017 – 2027)” studies the performance
of the global automotive steering system market over a ten year
assessment period from 2017 to 2027. The report presents the value
and volume forecast of the global automotive steering system market
and provides key insights into the factors driving market growth as
well as the factors restricting market growth. The estimates point to
a revenue growth from about US$ 33,700 Mn in 2017 to nearly US$
51,270 Mn by 2027 end, resulting in a CAGR of 4.3% over the forecast
period.
The global automotive steering system
market is segmented on the basis of technology (electronic steering
(H-EPS, C-EPS, P-EPS, R-EPS), hydraulic steering) and on the basis of
vehicle type (passenger car (compact, mid-size, premium, luxury,
SUV), light commercial vehicle (LCV), heavy commercial vehicle
(HCV)).
The sale of H-EPS segment was valued at
US$ 3,216.5 Mn in 2016 end, which is estimated to reach about US$
4,605 Mn by 2027 end. This segment is expected to create incremental
dollar opportunity worth US$ 1,278 Mn between the forecast period.
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The sale of the P-EPS segment was valued
at US$ 3,052.5 Mn in 2016 end and is estimated to reach US$ 6162.3 Mn
by 2027 end. This segment is expected to create incremental dollar
opportunity worth US$ 2,914.8 Mn during the forecast period.
Future Market Insights tracks the
performance of the global automotive steering system market across
the key geographies of North America, Latin America, Eastern Europe,
Western Europe, Asia Pacific excluding Japan, Japan, and Middle East
and Africa. As per the forecast of Future Market Insights, APEJ
region is estimated to account for maximum share of 38.3% in the
overall market by the end of 2017.
The market is projected to gain 300 BPS
between 2017 and 2027. The market in North America was valued at US$
5,702.6 Mn by the end of 2016, and is estimated to reach US$ 8,762.7
Mn by the end of 2027. The market is expected to represent an
incremental $ opportunity of US$ 2,850.9 Mn between the forecast
period. The automotive steering system market in Western Europe is
expected to represent incremental $ opportunity of US$ 3,041.0 Mn
between the forecast period.
The report has included some of the key
players operating in the global automotive steering system market
such as JTEKT Corporation, Nexteer Automotive Group Ltd., Showa
Corp., ThyssenKrupp AG, Hitachi Automotive System Ltd., Sona Koyo
Steering System Ltd., Robert Bosch GmbH, NSK Steering System Co.
ltd., Mando Corp., ZF Friedrichshafen AG, Magal Engineering Limited,
ATS Automation Tooling System Inc. and Hyundai Mobis.
Tie-ups with vehicle manufacturers ahead
of new model launch, attractive price offering & system upgrades
through strategic partnerships and adopting market specific designs
to gain competitive advantage remains key differentiating strategies
of these key players.
Buy Automotive Steering System Market
Report @
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