DUBLIN, Sept. 22, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/7vfgkp/global_automotive) has announced the addition of the "Global Automotive Steering System Market 2015-2019" report to their offering.
The global automotive steering system market grow at a CAGR of 5.89% over the period 2014-2019.
Automotive steering systems have evolved from being rigid to being more flexible, technologically advanced and reliable, smooth, and easy to use. Present day automotive steering systems provide enhanced stability and agility. Rising demand for automobiles is also contributing to market growth. Furthermore, the introduction of steer-by-wire technology in automotive steering systems is expected to propel market growth.
The report, Global Automotive Steering System Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers APAC, the Americas, and EMEA; it also covers the global automotive steering system landscape and its growth prospects in the coming years. The report also includes a discussion on the key vendors operating in this market.
Automobile manufacturers and consumers are shifting their focus to more-efficient, safer and smarter, and small and lightweight (small and less weight means reduced fuel consumption, in turn reducing emissions) automotive steering systems. With continuous developments in technology and the growing demand for safe driving, automotive steering system manufacturers have started developing steer-by-wire technology, which in turn is paving the way for autonomous automobiles.
According to the report, the automotive industries in emerging markets such as India, China, and Mexico are growing steadily, which is increasing the demand for automotive steering systems. Continuous improvements in the economic conditions in emerging markets have enhanced the financial status of people, which has increased the demand for and production of automobiles in these markets.
Further, the report states that the high cost associated with the designing, development, and maintenance of steering system technologies and systems such as sensors and radars has increased the price of steering systems. This increase in price hampers the adoption of technologically advanced steering systems such as EPS and EHPS (having both electronic and mechanical features), restricting their adoption to premium vehicles.
Key vendors
- JTEKT
- Mando
- Nexteer Automotive
- NSK
- Thyssenkrupp Presta
- Robert Bosch
Other prominent vendors
- Anhui Finetech Automobile
- Atmel
- AVIC-Xinhang Yubei Steering System
- China Automotive Systems
- Chongqing Changfeng Machinery
- Denso
- Douglas Autotech
- Fawer Automotive Parts
- Guangzhou New Air Autoparts
- Hitachi Automotive Systems
- Hubei Tri-Ring Motor Steering Gear
- Jiangmen Xingjiang Steering Gear
- Mitsubishi Electric
- Showa
- Tianjin Jinfeng Automobile Chassis Parts
- Zhejiang Shibao
- Zhejiang Wanda Steering Gear
- Zhuzhou ELITE Electro Mechanical
For more information visit http://www.researchandmarkets.com/research/7vfgkp/global_automotive
Media Contact: Laura Wood , +353-1-481-1716, press@researchandmarkets.net
