Global Automotive Steering Gearbox Market 2020-2024

Global Automotive Steering Gearbox Market 2020-2024

Technavio has been monitoring the automotive steering gearbox market and it is poised to grow by $ 2.06 bn during 2020-2024, progressing at a CAGR of 2% during the forecast period. Our reports on automotive steering gearbox market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the growing demand for high torque and performance in trucks and stringent regulations to control emissions. In addition, growing demand for high torque and performance in trucks is anticipated to boost the growth of the market as well.

The automotive steering gearbox market analysis includes the application segment and geographical landscapes.

Technavio's automotive steering gearbox market is segmented as below:

By Application

• Electric power steering
• Hydraulic power steering
• Electro-hydraulic power steering

By Geographical landscapes

• APAC
• Europe
• North America
• South America
• MEA

This study identifies increasing adoption of electric power steering as one of the prime reasons driving the automotive steering gearbox market growth during the next few years.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our automotive steering gearbox market covers the following areas:

• Automotive steering gearbox market sizing
• Automotive steering gearbox market forecast
• Automotive steering gearbox market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive steering gearbox market vendors that include Akashi Kikai Kogyo Co. Ltd., ATS Automation Tooling Systems Inc., JTEKT Corp., Knorr-Bremse AG, Mando Corp., Melrose Industries Plc, Nexteer Automotive Corp., Robert Bosch GmbH, thyssenkrupp AG, and ZF Friedrichshafen AG. Also, the automotive steering gearbox market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.