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Automotive Power Steering System Market Size– Growth, Future Prospects and Competitive Analysis 2018-2026

The research report published by Credence Research provides in-depth qualitative and quantitative insights on the Automotive Power Steering System market for the forecast period from 2018 to 2026. The research study analyzes market dynamics by considering market drivers, challenges, opportunities, and prominent prevailing trends shaping the Automotive Power Steering System market. Considering aforementioned factors, the study provides market estimates for the years to come till 2026.

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Unique selling proposition of the research study include detailed and in-depth competitive landscape assessment, and attractive investment segment analysis of the Automotive Power Steering System market. Particulars covered in company profiles section includes product/service portfolio, financial synopsis, competitor’s information, and news coverage along with the latest updates related to the Automotive Power Steering System market. The research study provides market size and estimates across different segments for geographic regions including North America (U.S & Canada), Europe (U.K., Germany, France, & Rest of Europe), Asia Pacific (China, Japan, & Rest of Asia Pacific), Latin America, and Middle East & Africa (GCC & Rest of Middle East & Africa).

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Leading Players: Robert Bosch Automotive Steering GmbH, Mitsubishi Electric Corporation, Hyundai Mobis Co., Ltd., JTEKT Corporation, ThyssenKrupp Presta AG, Nexteer Automotive Group Ltd., ZF Friedrichshafen AG (TRW Automotive), China Automotive Systems, Inc., Mando Corporation, Delphi Automotive Plc., Daimler AG and several others

Market Insights

The automotive power steering systems have undergone rapid advancement since the past few decades. Consistently rising automotive sales worldwide has forced the automotive vehicles as well as components manufacturers to introduce advanced auto parts so as to make driving more comfortable, safe and efficient. This has steadily led to reduced use of manual steering systems. Today, most of the vehicles manufactured worldwide are installed with power steering systems, leading to strong demand from the automotive industry.

The overall automotive power steering systems market is primarily driven by the consistently rising automotive industry worldwide. The automotive industry, especially in developed economies like North America and Western Europe witnessed a gradual slowdown in the beginning of this decade owing to unstable economic conditions. However, with financial markets showing economic stability, the automotive industry in these regions is poised to regain its original growth levels, offering the necessary push to the market growth, especially during the first half of the forecast period. This, in turn is expected to have positive impact of the growth of the automotive power steering systems market.

Key highlights of the research study comprise:

  1. Comprehensive analysis of the global Automotive Power Steering System industry
  2. Automotive Power Steering System market classification on the basis of key market segments along with their current and estimated market size
  3. Study of major market drivers, challenges and opportunities and their effect on the Automotive Power Steering System market
  4. Major companies profiled along with competitive landscape analyzed on the basis of business strength & product offerings
  5. Cross sectional analysis of each region covering individual segments for the forecast period 2016 – 2018 in terms of value (US$ Mn)

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Research methodology devised for this study:

Our methodology comprises a blend of primary and secondary research for engineering the market size, shares and estimations for global Automotive Power Steering System market specific to key segments, and regional segmentation.

  1. Secondary Research

Some of the basic, but most important sources referred during the study included company annual reports, press releases, and relevant documents throwing light upon the recent developments in the global Automotive Power Steering System market. Reliable sources such as scientific journals, university research papers and government websites were equally referred for recognizing business opportunities in various geographical markets and market penetration of various products/services. In addition, paid databases were referred to collect information useful for extensive commercial study of the key players operating in Automotive Power Steering System market. In case where no data was available on the public domain, we used modeling and estimates to arrive at comprehensive data sets. Secondary research helped to prepare a base for Automotive Power Steering System market study.

  1. Primary Research

The extensive secondary research carried out was complemented by extensive primary research to validate data and analysis. Primary research involved telephonic interviews, e-mail interactions as well as face-to-face interviews with the leading industry experts.

The participants tracked for primary interviews include:

  • Vice President/ CEOs
  • Marketing/product managers
  • Market intelligence managers
  • National sales managers
  • Purchasing managers
  • Distributors
  • Other stakeholders

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