Future Of Automotive Steering System Market Due To Impact COVID-19
latest report titled Impact of COVID-19 On Automotive Steering System Market. Analysis of the current market and its forecast, and future strategies of major market players have been analyzed based on primary interviews. Country level analysis has been included based on the current situation and government actions to tackle the crisis.
An automotive steering system is set of components used to control the direction of vehicle motion and help driver maneuver the vehicle as per the requirement. The hand-operated steering wheel, steering column, universal joints and rack & pinion mechanism contribute to the automotive steering system component. The development has led to change the steering system from manual steering to power assist steering system. The automotive steering system is considered as non-replaceable in automobiles and is responsible for effective control on vehicles making it a vital component in automobiles.
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Increase in demand for automotive owing to rise in disposable income of consumers primarily drive the growth of the market. In addition, the adoption of power steering system in vehicles is responsible for the growth of this market. The effective steering system is accountable for increase in fuel efficiency of the vehicle. Hence, the increase in demand for fuel efficient vehicle results in increase in demand for steering system. Also, the consumers prefer driving comfort in their vehicles, which includes the effortless driving and manoeuvrability of the vehicle. The driving comfort is achieved by using effective steering system resulting in increase in demand for steering system implementing growth of this market.
The following manufacturers are covered:
JTEKT Corporation
Nexteer Automotive Group
Showa
ThyssenKrupp
Hitachi Automotive System
Sona Koyo Steering System
Robert Bosch
NSK Steering System
Mando
ZF Friedrichshafen
Magal Engineering Limited
ATS Automation Tooling System
Hyundai Mobis
Segment by Regions:
- North America
- Europe
- China
- Japan
- Southeast Asia
- India
Segment by Type:
Electronic Steering
Hydraulic Steering
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Segment by Application:
Passenger Car
Light Commercial Vehicle (LCV)
Heavy Commercial Vehicle (HCV)
Some of the key questions answered in this report:
Detailed Overview of Automotive Steering System Market helps deliver clients and businesses making strategies.
Influential factors that are thriving demand and constraints in the market.
What is the market concentration? Is it fragmented or highly concentrated?
What trends, challenges and barriers will impact the development and sizing of Automotive Steering System Market?
SWOT Analysis of each key players mentioned along with its company profile with the help of Porter’s five forces tool mechanism to compliment the same.
What growth momentum or acceleration market carries during the forecast period?
Which region is going to tap highest market share in future?
What Application/end-user category or Product Type may see incremental growth prospects?
What would be the market share of key countries like United States, France, UK, Germany, Italy, Canada, Australia, Japan, China or Brazil etc.?
What focused approach and constraints are holding the market tight?
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