DUBLIN--(BUSINESS WIRE)--The "Global Automotive Rack and Pinion Steering System Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.
The automotive rack and pinion steering system market will register a CAGR of over 4% by 2023.
In electric power steering (EPS), only the rack and pinion type steering system are used. Therefore, with the adoption of EPS increasing in automobiles, the demand for automotive rack and pinion steering system is also going up.
EPS serves as an input for many safety systems, including lane keep assist and electronic stability control. Technological advances have helped steering systems evolve from manual to EPS and steer-by-wire systems. As EPS makes vehicles highly fuel-efficient, its adoption is increasing in passenger cars in particular, including entry-level passenger cars.
EPS together with its components cost more than a hydraulic power steering system and enable manufacturers of automotive steering systems and steering system components to register higher profit margins. Thus, the increasing adoption of EPS will drive the global automotive rack and pinion steering system market during the forecast period.
Rack and pinion steering provide improved control
Safety systems being developed today have changed the dynamics of the automotive industry. The high-efficiency rate of such driver-assist safety technologies has made roads safer by reducing accidents. The growing penetration of passive and active safety systems in vehicles has helped build trust and confidence among users.
Rising cost of raw materials
The increasing need for improving fuel efficiency is pushing automotive manufacturers to reduce vehicle weight without compromising on performance. Manufacturers of automotive steering system components such as steering column and steering gearbox use aluminum extensively, and rising prices are expected to challenge the global automotive rack and pinion steering system market during the forecast period.
Competitive Landscape
The market appears to be moderately concentrated with the presence of limited vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
Key Players
- JTEKT Corporation
- Knorr-Bremse AG
- Nexteer Automotive Corporation
- Robert Bosch GmbH
- ZF Friedrichshafen AG
Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
- Comparison by application
- Passenger cars - Market size and forecast 2018-2023
- Commercial vehicles - Market size and forecast 2018-2023
- Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic comparison
- APAC - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- North America - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- MEA - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DRIVERS AND CHALLENGES
PART 10: MARKET TRENDS
- Increasing popularity of steer-by-wire system
- Increasing popularity of dual-pinion steering system
- Development of rack and pinion steering system with iHSA control module for HCVs
PART 11: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 12: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- JTEKT Corporation
- Knorr-Bremse AG
- Nexteer Automotive Corporation
- Robert Bosch GmbH
- ZF Friedrichshafen AG
For more information about this report visit https://www.researchandmarkets.com/research/fb45mk/global_automotive?w=4
