Global Automotive Steering Member Market was valued US$ xx Mn in 2019 and the total revenue is expected to grow about 9% from 2020 to 2027, reaching nearly US$ xx Mn.
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Global Automotive Steering Member Market: Overview
Automotive Steering system is used to control vehicle motion, and driver can maneuver the vehicle using steering wheel as per requirement. This system has various components such as steering column, steering wheel, rack & pinion gear set, universal joints. Automotive Steering Member is essential component of vehicle which is non replaceable. Growing automotive industry is leading to the growth of Automotive Steering Member Market. The report has covered the ups and downs in the automotive market, which in turn are directly responsible for the growth of automotive steering member market. Innovation in steering system such as power assists steering system is one of the growth drivers and key players across the globe are implementing different strategies by different region as per the penetration of different segments of cars in different market. For example developing but growing countries India, Brazil, Mexico, Indonesia, and Malaysia have different dynamics and developed countries have different dynamics, which are covered in the report at micro level.
Global Automotive Steering Member Market: Company Profiles
The report have covered the key players in the industry and their market position in each market and its effect on automotive steering member market. Each profile of key players give their market holding in each market with key clients with the models launched and expected to launch in future. Some of the developments are affecting steering member market differently and report have covered the trend of the same, how it is going to shape the industry.
For e.g. General Motors confirmed that they will eliminate automotive steering member from autonomous vehicle design by the end of 2019. GM’s Chevy Bolt level 5 is expected to launch next year without steering member and pedals.
Ford patented completely detachable steering pedals and member; this option will be available to the customer as per the request. The automated level 4 and 5 vehicle is expected by GM and Ford which are major vehicle manufacturers. It is very important to address numerous functional, structural, and other related properties in testing of vehicle on road, before starting mass production.
Global Automotive Steering Member Market: Drivers and Restraints
The Automotive Steering Member Market is increasing with the demand of improved vehicle performance which is increasing with vehicle safety.
The demand of passenger and commercial vehicles along with sports vehicles is increasing Automotive Steering Member market.
Increasing off-road Vehicle market along with SUVs and electric vehicles is playing a vital role in the automotive Steering Member market. The vehicle manufacturers are focusing on vehicle weight reduction for fuel consumption of vehicle, increasing the opportunities in the development and research in automotive steering system.
The Governments are imposing the regulations on the manufacturers to improve their vehicle performance in order to reduce the carbon emission and fuel consumption Thus the manufacturers are looking for every area of improvement, the vehicle weight reduction is used to improve the efficiency of vehicle.
The development of steering system without member, some vehicle manufacturers are expected to launch member-less steering system in automated level 4 and level 5 vehicles is the major restrain of Global Automotive Steering Member Market.
Global Automotive Steering Member Market: Regional Overview
The Global Automotive Steering Member Market is segmented by region into Asia Pacific, North America, Europe, South America, and Middle East & Africa. The Asia Pacific region is dominating Global Automotive Steering member Market. Asia Pacific is expected to grow with xx% CAGR in forecasted period, owing to the increasing number of vehicle manufacturers and developing economies in this region such as India and China. These countries are expected to grow at the fastest rate in forecasted period. The Europe and North America regions are growing at a significant rate and expected to continue in forecasted period.
Global Automotive Steering Member Market: Segmentation
The Global Automotive Steering Member Market is segmented By Type (Electronic Power Steering, Hydraulic Power Steering and Electro Hydraulic Power Steering), End Use (Passenger Vehicle, Commercial Vehicle, LCV, HCV) and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific). The Heavy-Duty segment is growing with CAGR xx%, Passenger Vehicle segment is majorly growing in Europe market.
The report also helps in understanding Automotive Steering Member Market dynamics, structure by analyzing the market segments and projects the Automotive Steering Member Market size. Clear representation of competitive analysis of key players by Power range, price, financial position, Product portfolio, growth strategies, and regional presence in the Automotive Steering Member Market make the report investor’s guide.
Scope of the Automotive Steering Member Market: Inquire before buying
Automotive Steering Member Market, By Type
● Electronic Power Steering
● Hydraulic Power Steering
● Electro Hydraulic Power Steering
Automotive Steering Member Market, By Vehicle Type
● Passenger Vehicle
● Commercial Vehicle
Automotive Steering Member Market, by Region
● Asia Pacific
● North America
● South America
● Middle East & Africa
Key players operating in Automotive Steering Member Market
● Rane Holdings Limited
● JTEKT Corporation
● Mando Corporation
● ZF steering gear India
● Nexteer Automotive Group Limited
● Bosch Auto Parts
● thyssenkrupp Business Area Components Technology
● DENSO CORPORATION
● NSK Ltd
● Mitsubishi Electric Corporation
● China Automotive Systems, Inc
● Sona Koyo Steering Systems Limited
● Robert Bosch Limited.
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