LONDON--(BUSINESS WIRE)--Technavio has been monitoring the commercial vehicle steering system market and it is poised to grow by 0.65 million units during 2020-2024, progressing at a CAGR of almost 1% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Hyundai Mobis Co. Ltd., JTEKT Corp., Knorr-Bremse AG, Mando Corp., Melrose Industries Plc, Nexteer Automotive Corp., Robert Bosch GmbH, Showa Corp., thyssenkrupp AG, and ZF Friedrichshafen AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The electrification of automotive components for precise and accurate steering control has been instrumental in driving the growth of the market. However, increasing cost pressure faced by OEMs might hamper the market growth.
Commercial Vehicle Steering System Market 2020-2024: Segmentation
Commercial Vehicle Steering System Market is segmented as below:
- M And HCVs
- North America
- South America
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Commercial Vehicle Steering System Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our commercial vehicle steering system market report covers the following areas:
- Commercial Vehicle Steering System Market size
- Commercial Vehicle Steering System Market trends
- Commercial Vehicle Steering System Market industry analysis
This study identifies the development of independent wheel steering systems as one of the prime reasons driving the commercial vehicle steering system market growth during the next few years.
Commercial Vehicle Steering System Market 2020-2024: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the commercial vehicle steering system market, including some of the vendors such as Hyundai Mobis Co. Ltd., JTEKT Corp., Knorr-Bremse AG, Mando Corp., Melrose Industries Plc, Nexteer Automotive Corp., Robert Bosch GmbH, Showa Corp., thyssenkrupp AG, and ZF Friedrichshafen AG. Backed with competitive intelligence and benchmarking, our research reports on the Commercial Vehicle Steering System Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Commercial Vehicle Steering System Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist commercial vehicle steering system market growth during the next five years
- Estimation of the commercial vehicle steering system market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the commercial vehicle steering system market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of commercial vehicle steering system market vendors
Table Of Contents :
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019-2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- LCVs - Market size and forecast 2019-2024
- M and HCVs - Market size and forecast 2019-2024
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Hyundai Mobis Co. Ltd.
- JTEKT Corp.
- Knorr-Bremse AG
- Mando Corp.
- Melrose Industries Plc
- Nexteer Automotive Corp.
- Robert Bosch GmbH
- Showa Corp.
- thyssenkrupp AG
- ZF Friedrichshafen AG
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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