Revival Of The Automotive Industry To Continue Driving The Automotive Power Steering Systems Market

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Automotive Power Steering Systems Market
Growth, Future Prospects and Competitive
Analysis, 2017 2025
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According to a new market research report
published by Credence Research Automotive Power
Steering Systems Market (Product Type Hydraulic
Power Steering (HPS), Electric Power Steering
(EPS) and Electro-Hydraulic Power Steering
(EHPS) Vehicle Class Passenger Cars, Light
Commercial Vehicles (LCV), Heavy Commercial
Vehicles (HCV) and Off-road Vehicles End-market
OEMs and Aftermarket Sales) Growth, Future
Prospects and Competitive Analysis, 2017 2025,
the global automotive power steering systems
market is estimated to hit US 35 Bn by
2025. Browse the full report at
http//www.credenceresearch.com/report/automotive-
power-steering- systems-market Market
Insights The automotive power steering systems
have undergone rapid advancement since the past
few decades. Consistently rising automotive
sales worldwide has forced the automotive
vehicles as well as components manufacturers to
introduce advanced auto parts so as to make
driving more comfortable, safe and efficient.
This has steadily led to reduced use of manual
steering systems. Today, most of the vehicles
manufactured worldwide are installed with power
steering systems, leading to strong demand from
the automotive industry. The overall automotive
power steering systems market is primarily driven
by the consistently rising automotive industry
worldwide. The automotive industry, especially in
developed economies like North America and
Western Europe witnessed a gradual slowdown in
the beginning of this decade owing to unstable
economic conditions. However, with financial
markets showing economic stability, the
automotive industry in these regions is poised to
regain its original growth levels, offering the
necessary push to the market growth, especially
during the first half of the forecast period.
This, in turn is expected to have positive
impact of the growth of the automotive power
steering systems market. Even though the economic
instability had relatively less effect on the
Asia Pacific automotive industry, the automotive
market experienced moderately sluggish growth
during the slack period. Apart from China, all
other leading markets including India, Japan,
Indonesia and Thailand exhibited inconsistent
growth in automotive production during the period
2011 2016. However, each of these countries
witnessed a positive growth rate in production
between 2011 and 2016. The overall automotive
power steering systems market is categorized on
the basis of steering type, vehicle class and
end market. Based on the steering types, the
market is classified into hydraulic power
steering (HPS), electric power steering (EPS) and
electro-hydraulic power steering (EHPS) system.
The market is categorized, based vehicle class,
into passenger cars, light commercial vehicles
(LCV), heavy commercial vehicles (HCV) and
off-road vehicles. As of 2016, the market is led
by the passenger vehicles segment, accounting
for more than forty percent of the total market
revenue generated worldwide. Further, on the
basis of end-markets, the market is segmented
into original equipment manufacturers (OEMs) and
aftermarket sales.
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• By Steering System Type
• Electronic Power Steering
• Electro-Hydraulic Power Steering System
• Hydraulic Power Steering
• By Vehicle Type
• Light Commercial Vehicle
• Heavy Commercial Vehicle
• Passenger Vehicle
• Top Leading Players
• Hitachi Automotive Systems
• Hyundai Mobis Co., Ltd.
• TRW Automotive
• Infineon Technologies
• JTEKT Corporation
• Robert Bosch GmbH
• Delphi Automotive
• Key Trends

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utingtoday.co.uk/6629/automotive-power-steering-sy
stems-market- revival-automotive-industry-continu
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