DUBLIN--(BUSINESS WIRE)--The "Global Commercial Vehicle Steering System Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.
Lately, the commercial vehicle market has become competitive with automakers competing with their distinct product offerings. The latest technologies in safety systems are also being used as product differentiators by the OEMs. As a result, the global commercial vehicle market is continuously evolving with changing market dynamics across the globe.
Presently, the commercial vehicle segment is gaining pace in terms of penetration of advanced driver-assisted technologies. Thus, the growing driver-assisted steering technologies for commercial vehicles will drive the commercial vehicle steering system market during the forecast period.
According to the report, one driver in the market is growing preference for M&HCVs for transporting freight.
The presence road transport in emerging countries such as China and India is on the rise. The subsequent increase in the use of heavy, medium, and light-duty vehicles is likely to lower the share of rail transport. In China, traffic congestions are caused mainly due to large heavy-duty trucks transporting goods from inner Mongolia to Beijing.
Further, the report states that one challenge in the market is increasing cost pressure from demand side.
Currently, CV component manufacturers and suppliers are facing challenges in the form of quality requirements and cost pressure from the demand side. Hence, manufacturers need to carve out growth strategies to be profitable in this difficult yet attractive market. The bargaining power in the market is largely concentrated on the demand side of the market.
Market Trends
- Continuous Advances in Automotive Steering Technology
- Growing Pursuit of EHPS in Heavy Commercial Vehicles
- Increasing Penetration of Steer-By-Wire Technology
- Innovation in Bus Steering Systems
Key Players
- Bosch
- JTEKT
- Knorr-Bremse
- Nexteer Automotive
- Thyssenkrupp
- ZF Friedrichshafen
Topics Covered
1. Executive Summary
2. Scope of the Report
3. Market Landscape
4. Market Sizing
5. Five Forces Analysis
6. Market Segmentation by Application
7. Customer Landscape
8. Geographic Landscape
9. Decision Framework
10. Drivers and Challenges
11. Market Trends
12. Vendor Landscape
13. Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/research/snbtbx/commercial?w=4
