Le Lézard
Classified in: Transportation
Subject: MRR

Commercial Vehicle Steering System Market to grow by USD 3.81 billion from 2022 to 2027 | Market is fragmented due to the presence of prominent companies like ATS Automation Tooling Systems Inc., China Automotive Systems Inc. and Steering Systems LLC, and many more - Technavio


NEW YORK, Nov. 28, 2023 /PRNewswire/ -- The commercial vehicle steering system market is estimated to grow by USD 3.81 billion from 2022 to 2027, growing at a CAGR of 5.5%. The commercial vehicle steering system market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer commercial vehicle steering system market are ATS Automation Tooling Systems Inc., China Automotive Systems Inc., Global Steering Systems LLC, GreenSteering, Hitachi Ltd., HL Mando Co. Ltd., JTEKT Corp., Knorr Bremse AG, Mahindra and Mahindra Ltd., Mitsubishi Electric Corp., Nexteer Automotive Group Ltd., NSK Ltd., OGNIBENE POWER SPA, Pailton Engineering Ltd., R. H. Sheppard Co. Inc., Robert Bosch GmbH, ST System Truck Spa, thyssenkrupp AG, Unique Metal Products Inc., and ZF Friedrichshafen AG. The report provides a full list of key companies, their strategies, and the latest developments. Download a Free Sample before buying

Company Offering:

By Geography, the market is classified as North America, APAC, Europe, South America, and Middle East and Africa. APAC will have the largest share of the market. APAC will contribute 41% to the growth of the global market during the forecast period. The US is one of the major countries that is significantly contributing to the growth of the global commercial vehicle steering system market. Factors such as the high adoption of commercial vehicles in the region drive the market growth in the US. The increasing focus on fuel efficiency and the growing demand for power steering systems fuels the demand for EPS, which leads to the phasing out of HPS. The increasing demand for pick-up trucks, SUVs, and crossovers, whereas other business houses contribute to the vans and trucks demand is majorly contributed by the retail sector. Download a free sample report to get more insights on the market share of various regions and the contribution of the segments.

 Market Segmentation

Technavio Research experts have provided more insights on the market share of segments - View a Free Sample Report

Related Reports:
The Electric Commercial Vehicle (ECV) Market size is estimated to grow at a CAGR of 26.02% between 2022 and 2027. The market size is forecast to increase by USD 166.58 billion.

The Europe - Light Commercial Vehicle (LCV) Market size is estimated to grow at a CAGR of 6.86% between 2022 and 2027. The market size is forecast to increase by USD 22.43 billion.

Commercial Vehicle Steering System Market Scope

Report Coverage

Details

Historic period

2017-2021

Growth momentum & CAGR

Accelerate at a CAGR of 5.5%

YoY growth 2022-2023 (%)

5.0

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Key countries

US, Mexico, Canada, China, and Japan

TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 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.

Contact US:

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio


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