Automotive steering pumps assist the moment of power steering system by applying the principle of fluid mechanics. Steering pumps influence the performance, energy consumption, and noise level of the steering system in the vehicle. They are designed to maximize the highest delivery capacity and efficiency with a flat and compact design concept. Based on the type of vehicles, the global automotive steering pump market has been divided into three segments: passenger cars, LCVs, and M&HCVs.
Technavio’s analysts forecast the global automotive steering pump market to grow at a CAGR of 7.62% during the period 2017-2021.
Covered in this report The report covers the present scenario and the growth prospects of the global automotive steering pump market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography: • Americas • APAC • EMEA
Technavio’s report, Global Automotive Steering Pump 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 • ZF
Other prominent vendors • Melling Tool Company • Hitachi Automotive Systems Americas • Power Steering Associates • JTEKT Corporation • GKN • ATS Automation Tooling Systems
Market driver • High penetration of HPS in the commercial vehicle segment • For a full, detailed list, view our report
Market challenge • Increasing adoption of EPS systems • For a full, detailed list, view our report
Market trend • Electrification of mechanical components • 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?
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