An automotive steering system acts as a direct line of control and communication between the driver and vehicle. From being rigid mechanisms, automotive steering systems have evolved into more technologically advanced, reliable, smooth, and easy-to-use systems. Modern automotive steering systems are equipped with advanced safety systems and advanced driver assistance systems (ADAS) such as airbags in steering wheels, anti-lock braking system (ABS), adaptive cruise control (ACC), and power assisted steering (PAS) to ensure safe and smooth driving and to provide improved directional stability and agility to the vehicle.
Technavio’s analysts forecast the global automotive steering system market to grow at a CAGR of 3.70% during the period 2017-2021.
Covered in this report The report covers the present scenario and the growth prospects of the global automotive steering system market for 2017-2021. To calculate the market size, the report considers the sales of automotive steering system, globally. In addition, the report discusses the major drivers that influence the growth of the market and outlines the challenges faced by the operators and the market at large, as well as the emerging trends in the market.
The market is divided into the following segments based on geography: • Americas • APAC • EMEA
Technavio's report, Global Automotive Steering System Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors • Bosch • Nexteer • ThyssenKrupp
Other prominent vendors • Atmel • DENSO • Mitsubishi Electric • Tianjin • China Automotive Systems • NSK
Market driver • Increase in sales of passenger cars and SUVs • For a full, detailed list, view our report
Market challenge • Increase in number of on-demand taxi operators in China and India • For a full, detailed list, view our report
Market trend • Development of four-wheel steering system • For a full, detailed list, view our report
Key questions answered in this report • What will the market size be in 2021 and what will the growth rate be? • What are the key market trends? • What is driving this market? • What are the challenges to market growth? • Who are the key vendors in this market space? • What are the market opportunities and threats faced by the key vendors? • What are the strengths and weaknesses of the key vendors?
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Methodology Research methodology is based on extensive primary and secondary research. Primary research includes in-depth interviews with industry experts, vendors, resellers and customers. Secondary research includes Technavio Platform, industry publications, company reports, news articles, analyst reports, trade associations and the data published by Government agencies.
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