Global Light Vehicle Steering Market to Witness Significant Growth, Key Players Include ATS Automation Tooling System, ZF Friedrichshafen Ag, Delphi Technologies, and More

News provided by

Jul 24, 2023, 20:30 ET

DUBLIN, July 24, 2023 /PRNewswire/ -- The "Global Light Vehicle Steering Market (2023-2028) by Type, Component, Technology, Mode, and Geography, Competitive Analysis, Impact of Economic Slowdown & Impending Recession with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Light Vehicle Steering Market is estimated to be USD 18.21 Bn in 2023 and is expected to reach USD 33.14 Bn by 2028, growing at a CAGR of 12.72%.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the Global Light Vehicle Steering Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses the Global Light Vehicle Steering Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.

Why buy this report?

The report offers a comprehensive evaluation of the Global Light Vehicle Steering Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes an in-depth Market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the Market are also featured in the report..
The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
The report also contains a competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.

Market Dynamics

Drivers

Increasing sales of light vehicles
Increasing need for efficient and convenient driving experience
Increase acceptance and adoption rate of EPS and EPAS (Electric Power Steering and Electric Power-Assisted Steering)

Restraints

Low penetration of light vehicles in developing economies

Opportunities

Intelligent steering assistance
Performance optimization using scalable electric motor and control unit
Interface for assistance functions to increase safety and comfort

Challenges

Protection against unauthorized access

Companies Mentioned

ATS Automation Tooling System, Inc.
China Automotive Systems, Inc.
Delphi Technologies
DRiV, Inc.
Hitachi Astemo, Ltd.
Hyundai Mobis Co., Ltd.
JTEKT Corp.
Knorr Steering Systems GmbH
KYB Corp.
Mando Corp.
Martinrea International Inc.
Mitsubishi Electric Corp.
Nexteer Automotive
NSK Ltd.
NTN Corp.
Remy International, Inc.
Robert Bosch GmbH
ThyssenKrupp Ag
Trelleborg AB
ZF Friedrichshafen Ag

Market Segmentation

The Global Light Vehicle Steering Market is segmented based on Type, Component, Technology, Mode, and Geography.

By Type, the market is classified into Electric Power Steering, Electro-Hydraulic power steering, Hydraulic Power Steering, and Manual.
By Component, the market is classified into Controller, Coupling Mechanism, Electric Motor, Rotational Angle Sensor, Torque Sensor, and Vehicle Speed Sensor.
By Technology, the market is classified into Column Mounted Systems, Dual-Pinion EPS Systems, Modular Steering Columns, Sensor Technology, and Wheel-Locking Mechanisms.
By Mode, the market is classified into Automatic and Non-Automatic.
By Geography, the market is classified into Americas, Europe, Middle East & Africa, and Asia-Pacific.

For more information about this report visit https://www.researchandmarkets.com/r/1r6aix

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets