Why Automotive Steering System Market Trending in 2020? Know The Forecast Resear

Posted by Rushikesh Pise on March 12th, 2020

The global automotive steering system market size is projected to reach USD 25.4 billion by 2026, exhibiting a CAGR of 5.2% during the forecast period. However, the market was valued at USD 17.1 billion in 2018. This information is published in a recent study by Fortune Business Insights™, titled, “Global Automotive Steering System Market Size, Share & Industry Analysis, By Type (Electric Power Steering (EPS), Hydraulic Power Steering (HPS), Manual, Electro-Hydraulic Power Steering (EHPS)), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), and Regional Forecasts, 2019-2026.”

As per the study, the increasing usage of hybrid loader and construction machinery across the world has resulted in the rising demand for smooth driving. It would affect the market positively during the forthcoming years.

List of the renowned companies operating in the automotive steering system market. They are as follows:

  •          Thyssenkrupp AG
  •          Hyundai Mobis CO., Ltd.
  •          Nexteer Automotive Group Limited
  •          JTEKT Corporation
  •          Showa Corporation
  •          NSK Ltd.
  •          Mitsubishi Electric Corporation
  •          Other key market players

What Does the Report Contain?

  •          Analytical depiction of the automotive steering system market trends, growth drivers, future estimations, obstacles, opportunities, and challenges.
  •          Elaborate information about every possible segment present in the market.
  •          Porter’s five forces analysis to illustrate the potency of the suppliers and buyers.

Like it? Share it!


Rushikesh Pise

About the Author

Rushikesh Pise
Joined: November 4th, 2019
Articles Posted: 81

More by this author