What is the market size of the Global Automotive Steering Systems Market by 2029?

Automotive Steering Systems Market Scope:

We examined the Automotive Steering Systems Market from every angle conceivable, including both primary and secondary research approaches. This improved our grasp of current market dynamics, such as supply-demand imbalances, pricing trends, product preferences, and customer behaviours. Following that, the data is collated and evaluated using a variety of market estimation and data validation procedures. In addition, we have an in-house data forecasting engine that predicts market growth until 2029.

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Following the completion of market engineering, which comprised market statistics, market size estimations, market forecasts, market breakdown, and data triangulation, significant primary research was done to acquire information to verify and validate important numbers. To undertake market estimating and forecasting for the overall market segments and sub-segments described in this research, top-down and bottom-up tactics, as well as different data triangulation procedures, were often employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all data obtained during the market engineering process in order to provide essential information throughout the report.

Automotive Steering Systems Market Segmentation:

Based on Technology, the automotive steering system market is segmented into electric power steering (EPS), manual steering, hydraulic power steering (HPS), and electro-hydraulic power steering (EHPS). Because automakers are increasingly incorporating electric power steering into all vehicle models, the electric power steering sector is expected to dominate the automotive steering system market over the forecast period. Advances in electric power steering to steer-by-wire technology are also expected to boost growth in this section of the automobile steering system market. Because of its widespread use in commercial vehicles, the hydraulic power steering category is expected to grow in the market over the forecast period. Because of its restricted load-bearing capability, electric power steering does not operate in commercial vehicles. Furthermore, hydraulic power steering can attenuate road vibrations.

Automotive Steering Systems Market Key Players:

? Hitachi Automotive Systems Americas, Inc.
? Hyundai Mobis
? JTEKT Corporation
? The Mando Corporation
? NSK Ltd.
? Robert Bosch GmbH
? Showa Corporation
? ThyssenKrupp AG
? Magna International
? Mitsubishi Electric Corporation
? Denso Corporation
? Sona Corporation
? Knorr-Bremse AG
? ZF Friedrichshafen AG
? Rollax GmbH & Co. KG

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Regional Analysis:

The study covers both qualitative and quantitative data and offers a comprehensive look into the Automotive Steering Systems industrial sector by area. It gives an overview and forecast of the worldwide Automotive Steering Systems market by segment. It also forecasts and predicts market sizes for five important regions between 2021 and 2029: North America, Europe, Asia-Pacific, the Middle East, Africa, and South America. Each area's Automotive Steering Systems market is further subdivided into regions and sectors. The research examines and forecasts a wide range of countries, as well as existing industry trends and prospects.

COVID-19 Impact Analysis on Automotive Steering Systems Market:

We investigated and analyzed the Automotive Steering Systems Business Expansion Strategy post-COVID-19, using organisational strategic analysis, landscape, category, utilization, and leading countries to encapsulate and analyze the Automotive Steering Systems industry's potential, providing statistical data on market trends, growth regulators, major challenges, PORTER analysis, and market entry strategy analysis, prospects, and forecasts. The fundamental purpose of the research is to offer industrial firms a strategic analysis of the impact of COVID-19. Simultaneously, this study assessed significant countries' markets and highlighted their market potential in post-pandemic scenarios.

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