Global Automotive Steering Motor Market 2019-2023
About this market
Presence of online sales to gain traction in the market. Vendors are focusing on increasing their sales through direct sales and online platforms. Online sales decrease the promotional and operational costs. Technavio’s analysts have predicted that the electric dental handpieces market will register a CAGR of more than 5% by 2023.
Increasing number of dental practitioners in developed countries
Developed countries such as Germany, France, and Japan are experiencing an increase in the number of dental practitioners largely due to rise in the number of dental institutions and the prevalence of dental conditions.
Availability of substitutes
Risks associated with these electrical dental handpieces create a barrier for their adoption, thereby resulting in the rise in adoption of substitutes of these dental handpieces.
For the detailed list of factors that will drive and challenge the growth of the electric dental handpieces market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Techman-Head Group and Brackett Aircraft Company the competitive environment is quite intense. Factors such as the presence of online sales and the increasing number of dental practitioners in developed countries, will provide considerable growth opportunities to electric dental handpieces manufactures. Brackett Aircraft Company, Techman-Head Group, HYDRO SYSTEMS, and K&M Airporttecknik are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Automotive Steering Motor Market 2018-2022
Technavio recognizes the following companies as the key players in the global automotive steering motor market: Bosch, Brose Fahrzeugteile, DENSO, Johnson Electric, MAHLE, and SKF.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increasing penetration of steer-by-wire technology.”
According to the report, one of the major drivers for this market is the increased adoption of EPS in modern vehicles.
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