DUBLIN--(BUSINESS WIRE)--The "Global Automotive Steering Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global steering market is expected to post a revenue of more than USD 44 billion by 2023.
With the advent of artificial intelligence in every aspect of human life, the future of cars is expected to be driverless cars. It is evident as the leading manufacturers in the automotive steering market shift their focus to AI-controlled steering wheels. Many vehicles now have an automatic parking feature, which is a fundamental step for a car to become autonomous.
In terms of geography, the APAC region is expected to dominate the market for steering systems. This region is expected to account for a market share of more than 52% as it is the fastest and largest automotive market. Factors like low-cost labor, government incentives such as tax exemption and subsidy towards local manufacturing, raw material advantages, and free-trade agreements with other countries in the region will promote market growth in this region during the forecast period.
The recovering sales in the United States automotive market are expected to provide a big boost to the steering market, as the United States and Mexico are still two of the most important markets in the automobile industry. Mexico, primarily an automobile exporter, has become an important automotive hub, driving the production of automobiles, thereby driving the automotive steering market in the region.
- Robert Bosch GmbH
- ZF Friedrichshafen Ag
- JTEKT Corporation
- Nexteer Automotive
- NSK Ltd
- Hitachi Automotive Systems Limited
- Mando Corporation
- ATS Automation Tooling Systems
- Sona Corporation
- Showa Corporation
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Overview and Technological Trends
5. Market Dynamics
6. Global Automotive Steering Market Segmentation, by Mechanism
7. Global Automotive Steering Market Segmentation, by Component
8. Global Automotive Steering Market Segmentation, by Geography
9. Competitive Landscape
10. Company Profile
11. Future Outlook of the Market
For more information about this report visit https://www.researchandmarkets.com/research/c3f38l/global_automotive?w=4