Automotive Steering Market to Increase Tremendously through 2020, Projects Daedal Research in Its New Report Recently Added at MarketPublishers.com
05 Oct 2016 • by Natalie Aster
LONDON – The world’s automotive steering market exhibited sustained growth at a high CAGR between 2010 and 2015. This market is predicted to keep on increasing at a tremendous rate through 2020. The key growth driving factors for the automotive steering market include rising fuel prices, escalating demand for fuel efficient cars, increasing sales of passenger vehicles, anticipated increase in demand for electric power steering systems, amid others. Meantime, growth in this market could be hampered by certain challenges, for example, high market-entry barriers and fluctuations in raw materials costs.
Presently, Europe accounts for the biggest share of the overall automotive steering market. It is followed by China and the US.
The automotive steering market is led by the EPS systems sector due to numerous advantages offered by EPS systems if compared with manual steering systems and HPS systems. The latest technology in the power assisted steering systems sector is electronic hydraulic power steering (EHPS) system, which combines electric and hydraulic technology of power steering. However, the demand for EHPS will likely decline in the years ahead, thus posing a challenge for the total automotive steering market.
New topical report “Global Automotive Steering Market With Focus on Hydraulic & Electric Power Steering: 2016-2020” prepared by Daedal Research offers an insightful study of the world’s automotive steering market. It discloses reliable data on the market value and volume, contains a detailed analysis of the key market segments (namely hydraulic power steering, electric power steering and manual steering). The report presents granular analyses of the key geographical markets, examines the major market growth hindering and driving factors, identifies top challenges and opportunities for automotive steering market growth and reviews prevailing and emerging trends. It investigates the competitive environment and profiles three companies involved (JTEKT Corporation, ZF Group and NSK Ltd.). In addition, this publication contains forecasts through 2020.
Other in-demand research reports prepared by this publisher are offered at the Daedal Research page.