Global Light Vehicle Steering Market worth USD 8.36 Billion by 2024

Global Light Vehicle Steering Market worth USD 8.36 Billion by 2024

Pune, India, February 04, 2019 -- /360iResearch/ -- The report "Global Light Vehicle Steering Market - Premium Insight, Industry Trends, FPNV Positioning Matrix, Competitive News Feed Analysis, Company Usability Profiles, Market Sizing & Forecasts to 2024 (Q4 2018 Update)", published by 360iResearch, states that the global market was valued at USD 6.25 billion in 2017 and is projected to reach USD 8.36 billion by 2024, growing at a CAGR of 4.24% from 2017 to 2024.

The major forces driving the growth of the light vehicle steering market include the increasing sales of light vehicle and increasing need for efficient, and convenient driving experience. Moreover, increase acceptance and adoption rate of eps and epas is also one of the factors that is driving the market growth. However certain factors such as the low penetration of light vehicle in emerging economies may hinder the market growth. In the middle of difficulty lies opportunity such as the intelligent steering assistance, performance optimization through the use of scalable electric motor and control unit, and interface for assistance functions to increase safety and comfort. The possible challenges for the market growth is protection against unauthorized access. But key players in the market are overcoming the challenges with continual improvement and innovation.

Based on component, the global light vehicle steering market is studied across Controller, Coupling mechanism, Electric motor, Rotational angle sensor, Torque Sensor, and Vehicle speed sensor. Based on mode, the global light vehicle steering market is studied across Automatic, and Non-Automatic. Based on technology, the global light vehicle steering market is studied across Column Mounted Systems, Dual- pinion EPS Systems, Modular Steering Columns, Sensor Technology, and Wheel- locking Mechanisms. Based on type, the global light vehicle steering market is studied across Electric Power Steering, Electro-Hydraulic power steering, Hydraulic Power Steering, and Manual. Based on geography, the global light vehicle steering market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.

The report features a competitive scenario of the light vehicle steering market and provides inclusive analysis of key growth strategies adopted by major players. Key company profiled in the study are China Automotive Systems Inc., Delphi Technologies, Federal-Mogul Corporation, Hitachi Automotive Systems, Hyundai Mobis Co., Ltd., JTEKT Corporation, KYB Corporation, Knorr-Bremse SteeringSystems, Mando Corporation, Martinrea International Inc., Mitsubishi Electric Corporation, NSK Ltd, NTN Corporation, Nexteer Automotive, Remy International, Inc., Robert Bosch GmbH, Showa Corporation, Sona Koyo Steering Systems, ThyssenKrupp AG, Trelleborg AB, and ZF Friedrichshafen AG.

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