LONDON--(BUSINESS WIRE)--The global automotive dynamic steering system market is projected to grow to 12.97 million units by 2021, at a CAGR of just above 13% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global automotive dynamic steering system market for 2017-2021. By vehicle type, the market is divided into passenger car and commercial vehicle segments.
|The high efficiency of modern day driver-assisted safety systems has greatly increased road safety. The improved steering and yaw motion control of dynamic steering systems result in reduced roll-over accidents, which is driving its swift adoption in the automotive industry.|
Technavio’s research study segments the global automotive dynamic steering system market into the following regions:
Europe: largest automotive dynamic steering system market segment
“Europe is currently the largest regional segment of the automotive dynamic steering system market, responsible for generating 41% of the overall revenue. The large market share of luxury cars, improved transportation services, and developed communication infrastructure are responsible for the market dominance of this segment,” says Siddharth Jaiswal, a lead analyst at Technavio for automotive electronics research.
Advanced driver-assisted technologies such as dynamic steering response, active steering, and advanced driver assistance systems (ADAS) are witnessing swift adoption rates in Western Europe. Also, strict vehicle safety norms and star ratings awarded on vehicle safety and security are further driving the growth of the market in the region.
Request a sample report: http://www.technavio.com/request-a-sample?report=57052
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Americas: large market for luxury cars driving growth of the market segment
The automotive dynamic steering system market in the Americas is growing swiftly and is expected to occupy the largest share of the market by the end of the forecast period. The high demand for premium sports utility vehicles (SUVs) and multi-purpose vehicles (MPVs) is the major factor driving the growth of the market segment. Also, the large market for luxury cars in the Americas creates a significant demand for the dynamic steering system market. The large consumer base for automobiles, growing automotive industry in Latin America, and attractive domestic demand for free trade agreements will be other factors to impact the growth of the market segment positively.
APAC: fastest growing automotive dynamic steering system market segment
“APAC is the fastest growing market segment, projected to showcase a CAGR of close to 18% over the forecast period. The growing demand for vehicle safety and convenience in the region combined with the improving customer awareness is responsible for the impressive growth of the market segment,” says Siddharth.
Developing economies such as China, India, Japan, and Korea currently dominate the rapidly growing market for luxury cars, which will result in high demand for automotive dynamic steering system market. Also, the rising per capita and disposable incomes will positively impact the market.
The top vendors in the global automotive dynamic steering system market highlighted in the report are:
- Ford Motor
Browse Related Reports:
- Global Automotive Haptic Technology Market 2017-2021
- Global Automotive Dyno Market 2016-2020
- Global Injection Molding Machine Market 2016-2020
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like auto accessories, automotive manufacturing, and wheels and tires. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
If you are interested in more information, please contact our media team at email@example.com.