Technavio has been monitoring the heavy-duty trucks steering system market and it is poised to grow by 474.96 th units during 2021-2025, decelerate at a CAGR of almost 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Heavy-duty Trucks Steering System Market 2021-2025 (Graphic: Business Wire).
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the heavy-duty trucks steering system market. The market growth in 2021 is likely to Increase compared to the market growth in 2020.
Frequently Asked Questions:
- What are the major trends in the market?
Growth of heavy-duty trucks in India and Eastern Europe is a major trend driving the growth of the market
- At what rate is the market projected to grow?
The market will decelerate at a CAGR of almost 6% and the incremental growth of the market is anticipated to be 474.96 th units
- Who are the top players in the market?
AB Volvo, JTEKT Corp., Knorr-Bremse AG, Mando Corp., Nexteer Automotive Corp., Robert Bosch GmbH, Scania CV AB, Simard Suspensions Inc., WEBER-HYDRAULIK GmbH, and ZF Friedrichshafen AG, are some of the major market participants.
- What is the key market driver?
The dynamic steering for heavy-duty trucks is one of the major factors driving the market
- How big is the APAC market?
The APAC region will contribute 58% of the market share
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The market is concentrated, and the degree of concentration will decelerate during the forecast period. AB Volvo, JTEKT Corp., Knorr-Bremse AG, Mando Corp., Nexteer Automotive Corp., Robert Bosch GmbH, Scania CV AB, Simard Suspensions Inc., WEBER-HYDRAULIK GmbH, and ZF Friedrichshafen AG are some of the major market participants. The dynamic steering for heavy-duty trucks will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this heavy-duty trucks steering system market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Heavy-duty Trucks Steering System Market 2021-2025: Segmentation
Heavy-duty Trucks Steering System Market is segmented as below:
- Class 8
- Class 7
- North America
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR70020
Heavy-duty Trucks Steering System Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The heavy-duty trucks steering system market report covers the following areas:
- Heavy-duty Trucks Steering System Market Size
- Heavy-duty Trucks Steering System Market Trends
- Heavy-duty Trucks Steering System Market Industry Analysis
This study identifies growth of heavy-duty trucks in India and Eastern Europe as one of the prime reasons driving the heavy-duty trucks steering system market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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Heavy-duty Trucks Steering System Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist heavy-duty trucks steering system market growth during the next five years
- Estimation of the heavy-duty trucks steering system market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the heavy-duty trucks steering system market across APAC, Europe, North America, South America, and MEA
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of heavy-duty trucks steering system market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020-2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by GVWR
- Market segments
- Comparison by GVWR
- Class 8 Market size and forecast 2020-2025
- Class 7 Market size and forecast 2020-2025
- Market opportunity by GVWR
- Geographic segmentation
- Geographic comparison
- APAC Market size and forecast 2020-2025
- Europe Market size and forecast 2020-2025
- North America Market size and forecast 2020-2025
- South America Market size and forecast 2020-2025
- MEA Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- AB Volvo
- JTEKT Corp.
- Knorr-Bremse AG
- Mando Corp.
- Nexteer Automotive Corp.
- Robert Bosch GmbH
- Scania CV AB
- Simard Suspensions Inc.
- WEBER-HYDRAULIK GmbH
- ZF Friedrichshafen AG
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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