Steering Robot Market to grow by USD 55.3 Mn -- Driven by growth in automotive R&D and engineering

News provided by

Sep 29, 2022, 04:05 ET

NEW YORK, Sept. 29, 2022 /PRNewswire/ -- The "Steering Robot Market by Application, Vehicle Type, and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. According to the report, the market will observe an incremental growth of USD 55.3 million, accelerating at a CAGR of 8.11% during the forecast period. The report provides a comprehensive analysis of the new product launches, key growth drivers, the latest trends, the impact of the pandemic on the market growth, the competitive landscape, and much more. Download PDF Sample Report

Market Dynamics

Technavio has announced its latest market research report titled Global Steering Robot Market 2022-2026

The market is driven by the growth in automotive R&D and engineering. There has been an increase in global spending on automotive R&D and engineering over the years, especially in regions such as APAC and North America. In addition, automakers are focusing on the expansion of their manufacturing and R&D facilities. This is increasing the adoption of computer-aided designs, virtual testing, and simulation, along with processes to build internal and external capacity and ensure that new product development is accelerated. As the market gains traction, there will also be an increased emphasis on improving steering technologies through R&D initiatives to ensure better levels of driver autonomy and improvement in test results. All these factors are expected to foster the growth of the market during the forecast period.

The adoption of data analytics is identified as the key trend in the market. The increasing penetration of the internet and smart devices has enabled vendors to give their customers critical data about the robots used in automobiles. They are leveraging data analytics to track real-time information and provide preventive maintenance and reduce response times. It is also helping vendors to provide cloud-based apps to customers and service personnel, through which they get alerts about service and replacement requirements. This trend is expected to have a positive impact on the growth of the global steering robot market during the forecast period.

Vendor Landscape

Some of the companies covered in this report are AB Dynamics plc, HI TEC SRL, RMS Dynamic Test Systems, Stahle GmbH, Tecpond GmbH, and VEHICO GmbH, etc.

The global steering robot market is concentrated. The market is subject to rapidly changing consumer demands and preferences. The changing consumer preference pattern may affect vendor performance in the market. Vendors compete based on several factors such as quality, price, service, brand image, distribution, and marketing. Major vendors are focusing on acquiring other small brands to increase their market presence. The increasing competition among vendors may lead to a decline in their product prices, which can negatively impact profit margins, thereby affecting the growth of the market. Besides, any technological advances by any player in the market can render existing or future vendor products obsolete or uneconomical.

Competitive Analysis

The competitive scenario provided in the steering robot market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Request Sample Report Here

Market Segmentation by Application

By application, the market is classified into segments such as testing and automation driving. The market growth in the testing segment will be significant over the forecast period. The increased R&D spending on automotive testing will drive the growth of the segment.

Market Segmentation by Vehicle Type

By vehicle type, the market is segmented into cars and buses and trucks. The cars segment will have the largest share of the market. The segment is driven by advanced in automotive R&D.

Market Segmentation by Geography

By Geography, the market is classified as Europe, APAC, North America, the Middle East and Africa, and South America. APAC will have the largest share of the market.

Related Reports:

Steering Robot Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 8.11%
Market growth 2022-2026	USD 55.3 million
Market structure	Concentrated
YoY growth (%)	7.84
Regional analysis	Europe, APAC, North America, Middle East and Africa, and South America
Performing market contribution	APAC at 36%
Key consumer countries	US, China, Japan, Germany, and Italy
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	AB Dynamics plc, HI TEC SRL, RMS Dynamic Test Systems, Stahle GmbH, Tecpond GmbH, and VEHICO GmbH
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
Exhibit 06: Executive Summary – Chart on Market Segmentation by Vehicle Type
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 18: Five forces analysis - Comparison between2021 and 2026

4.2 Bargaining power of buyers

Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

5.1 Market segments

Exhibit 25: Chart on Application - Market share 2021-2026 (%)
Exhibit 26: Data Table on Application - Market share 2021-2026 (%)

5.2 Comparison by Application

Exhibit 27: Chart on Comparison by Application
Exhibit 28: Data Table on Comparison by Application

5.3 Testing - Market size and forecast 2021-2026

Exhibit 29: Chart on Testing - Market size and forecast 2021-2026 ($ million)
Exhibit 30: Data Table on Testing - Market size and forecast 2021-2026 ($ million)
Exhibit 31: Chart on Testing - Year-over-year growth 2021-2026 (%)
Exhibit 32: Data Table on Testing - Year-over-year growth 2021-2026 (%)

5.4 Automation driving - Market size and forecast 2021-2026

Exhibit 33: Chart on Automation driving - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Data Table on Automation driving - Market size and forecast 2021-2026 ($ million)
Exhibit 35: Chart on Automation driving - Year-over-year growth 2021-2026 (%)
Exhibit 36: Data Table on Automation driving - Year-over-year growth 2021-2026 (%)

5.5 Market opportunity by Application

Exhibit 37: Market opportunity by Application ($ million)

6 Market Segmentation by Vehicle Type

6.1 Market segments

Exhibit 38: Chart on Vehicle Type - Market share 2021-2026 (%)
Exhibit 39: Data Table on Vehicle Type - Market share 2021-2026 (%)

6.2 Comparison by Vehicle Type

Exhibit 40: Chart on Comparison by Vehicle Type
Exhibit 41: Data Table on Comparison by Vehicle Type

6.3 Cars - Market size and forecast 2021-2026

Exhibit 42: Chart on Cars - Market size and forecast 2021-2026 ($ million)
Exhibit 43: Data Table on Cars - Market size and forecast 2021-2026 ($ million)
Exhibit 44: Chart on Cars - Year-over-year growth 2021-2026 (%)
Exhibit 45: Data Table on Cars - Year-over-year growth 2021-2026 (%)

6.4 Buses and trucks - Market size and forecast 2021-2026

Exhibit 46: Chart on Buses and trucks - Market size and forecast 2021-2026 ($ million)
Exhibit 47: Data Table on Buses and trucks - Market size and forecast 2021-2026 ($ million)
Exhibit 48: Chart on Buses and trucks - Year-over-year growth 2021-2026 (%)
Exhibit 49: Data Table on Buses and trucks - Year-over-year growth 2021-2026 (%)

6.5 Market opportunity by Vehicle Type

Exhibit 50: Market opportunity by Vehicle Type ($ million)

7 Customer Landscape

7.1 Customer landscape overview

Exhibit 51: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

8.1 Geographic segmentation

Exhibit 52: Chart on Market share by geography 2021-2026 (%)
Exhibit 53: Data Table on Market share by geography 2021-2026 (%)

8.2 Geographic comparison

Exhibit 54: Chart on Geographic comparison
Exhibit 55: Data Table on Geographic comparison

8.3 Europe - Market size and forecast 2021-2026

Exhibit 56: Chart on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 57: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 58: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 59: Data Table on Europe - Year-over-year growth 2021-2026 (%)

8.4 APAC - Market size and forecast 2021-2026

Exhibit 60: Chart on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 61: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 62: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 63: Data Table on APAC - Year-over-year growth 2021-2026 (%)

8.5 North America - Market size and forecast 2021-2026

Exhibit 64: Chart on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 65: Data Table on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 66: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 67: Data Table on North America - Year-over-year growth 2021-2026 (%)

8.6 Middle East and Africa - Market size and forecast 2021-2026

Exhibit 68: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 69: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 70: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 71: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

8.7 South America - Market size and forecast 2021-2026

Exhibit 72: Chart on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 73: Data Table on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 74: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 75: Data Table on South America - Year-over-year growth 2021-2026 (%)

8.8 US - Market size and forecast 2021-2026

Exhibit 76: Chart on US - Market size and forecast 2021-2026 ($ million)
Exhibit 77: Data Table on US - Market size and forecast 2021-2026 ($ million)
Exhibit 78: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 79: Data Table on US - Year-over-year growth 2021-2026 (%)

8.9 China - Market size and forecast 2021-2026

Exhibit 80: Chart on China - Market size and forecast 2021-2026 ($ million)
Exhibit 81: Data Table on China - Market size and forecast 2021-2026 ($ million)
Exhibit 82: Chart on China - Year-over-year growth 2021-2026 (%)
Exhibit 83: Data Table on China - Year-over-year growth 2021-2026 (%)

8.10 Germany - Market size and forecast 2021-2026

Exhibit 84: Chart on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 85: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 86: Chart on Germany - Year-over-year growth 2021-2026 (%)
Exhibit 87: Data Table on Germany - Year-over-year growth 2021-2026 (%)

8.11 Japan - Market size and forecast 2021-2026

Exhibit 88: Chart on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 89: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 90: Chart on Japan - Year-over-year growth 2021-2026 (%)
Exhibit 91: Data Table on Japan - Year-over-year growth 2021-2026 (%)

8.12 Italy - Market size and forecast 2021-2026

Exhibit 92: Chart on Italy - Market size and forecast 2021-2026 ($ million)
Exhibit 93: Data Table on Italy - Market size and forecast 2021-2026 ($ million)
Exhibit 94: Chart on Italy - Year-over-year growth 2021-2026 (%)
Exhibit 95: Data Table on Italy - Year-over-year growth 2021-2026 (%)

8.13 Market opportunity by geography

Exhibit 96: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges

Exhibit 97: Impact of drivers and challenges in 2021 and 2026

9.4 Market trends

10 Vendor Landscape

10.1 Overview

10.2 Vendor landscape

Exhibit 98: Overview on Criticality of inputs and Factors of differentiation

10.3 Landscape disruption

Exhibit 99: Overview on factors of disruption

10.4 Industry risks

Exhibit 100: Impact of key risks on business

11 Vendor Analysis

11.1 Vendors covered

Exhibit 101: Vendors covered

11.2 Market positioning of vendors

Exhibit 102: Matrix on vendor position and classification

11.3 AB Dynamics plc

Exhibit 103: AB Dynamics plc - Overview
Exhibit 104: AB Dynamics plc - Key offerings

11.4 HI TEC SRL

Exhibit 105: HI TEC SRL - Overview
Exhibit 106: HI TEC SRL - Product / Service
Exhibit 107: HI TEC SRL - Key offerings

11.5 RMS Dynamic Test Systems

Exhibit 108: RMS Dynamic Test Systems - Overview
Exhibit 109: RMS Dynamic Test Systems - Product / Service
Exhibit 110: RMS Dynamic Test Systems - Key offerings

11.6 Stahle GmbH

Exhibit 111: Stahle GmbH - Overview
Exhibit 112: Stahle GmbH - Product / Service
Exhibit 113: Stahle GmbH - Key offerings

11.7 Tecpond GmbH

Exhibit 114: Tecpond GmbH - Overview
Exhibit 115: Tecpond GmbH - Product / Service
Exhibit 116: Tecpond GmbH - Key offerings

11.8 VEHICO GmbH

Exhibit 117: VEHICO GmbH - Overview
Exhibit 118: VEHICO GmbH - Product / Service
Exhibit 119: VEHICO GmbH - Key offerings

12 Appendix

12.1 Scope of the report

12.2 Inclusions and exclusions checklist

Exhibit 120: Inclusions checklist
Exhibit 121: Exclusions checklist

12.3 Currency conversion rates for US$

Exhibit 122: Currency conversion rates for US$

12.4 Research methodology

Exhibit 123: Research methodology
Exhibit 124: Validation techniques employed for market sizing
Exhibit 125: Information sources

12.5 List of abbreviations

Exhibit 126: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.

Contact

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