The global automotive steering systems market is anticipated to grow at a significant CAGR of nearly 4.6% during the forecast period (2023-2029). This Automotive Steering Systems Market research report focuses more on a number of distinctive as well as foremost market sectors. It further focuses market segmentation. Industry-specific interviews are carried out with market players to foresee future business growth. Various facets of the industry are also depicted here under each industry sector. Future development visions and a wide range of subjects are covered in this Automotive Steering Systems Market study report. All this crucial data greatly assists key players to establish their presence in the competitive market. It verifies and revalidates the knowledge provided in this global Market report. It also allows several organizations to learn more about a range of opportunities already available in the market and makes aware to firms about upcoming opportunities too. It ensures several firms to attain a long-standing business success by capturing all of the latest updates about market growth. Most important participants are able to employ such report as a great resource to attain a competitive advantage over the cut-throat market.
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Based on the mechanism, collapsible electric power steering is the fastest-growing market. In the steering column, collapsible housing contains a collapsible rotating shaft. For safety, the steering column is designed to collapse in the event of a front-end collision. As global auto OEMs continue expanding into growing and emerging markets, the demand for collapsible steering columns is expected to increase. The market for collapsible steering column systems has been growing rapidly over the past few years due to the rising sales of passenger cars, the expansion of global players in developing economies, and technological advances.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Crude Steel Market Report Segment
By Technology
- Hydraulic Power Steering
- Electronic Power Steering
- Electro-Hydraulic Power Steering
By Mechanism
- Collapsible
- Rigid
By End-Users
- Passenger Vehicles
- Commercial Vehicles
Global Automotive Steering Systems Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
The Report Covers
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automotive steering systems market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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