Research Nester assesses the growth of global automotive steering system market over the forecast period, i.e., 2023-2033, and evaluates its future prospects. Growing demand for steering wheels and rising adoption of fuel-efficient cars to drive market growth.

New York – October 10, 2022 - Research Nester’s recent market research analysis on “Automotive Steering System Market: Global Demand Analysis & Opportunity Outlook 2033” delivers a detailed competitor analysis and a detailed overview of the global automotive steering system market in terms of market segmentation by technology, vehicle type, and by region.

Growing Demand for Fuel-Efficient Cars to Drive Growth of Global Automotive Steering System Market

The global automotive steering system market is estimated to grow majorly on account of the increased pollution by the transportation sector. For instance, the transportation sector contributes more than 20% of global carbon dioxide (CO2) emissions in 2020.

The market research report on global automotive steering system encompasses an in-depth analysis of the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion of current and future market trends. These analyses help organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future. Additionally, the growth opportunities exposed by the market are poised to gain significant momentum in the next few years.

By technology, the global automotive steering system market is segmented into manual steering, electronic steering, hydraulic steering, and electro-hydraulic steering. The electronic steering segment is to garner a highest revenue by the end of 2033 by growing at a CAGR of ~4 % over the forecast period. Rise in the number of passenger cars with electronic power steering technology.

By region, the Asia Pacific automotive steering system market is to generate the highest revenue by the end of 2033. This growth is anticipated by a higher number of smart vehicles with high-level driving-assist functions.

The research is global in nature and covers a detailed analysis of the automotive steering system market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, an analysis comprising of global automotive steering system market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. has also been covered and displayed in the research report.

This report also provides the existing competitive scenario of some of the key players of the global automotive steering system market which includes company profiling of JTEKT Corporation, Hella GmbH & Co. KGaA, Nexteer Automotive Corporation, ZF Friedrichshafen AG, Robert Bosch GmbH, NSK Steering Systems Co., Ltd., Mando Corp., Mitsubishi Electric Corporation, China Automotive Systems, Inc., thyssenkrupp AG, The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global automotive steering system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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