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Global Commercial Vehicle Steering System Market 2019-2023

Global Commercial Vehicle Steering System Market 2019-2023

About this market

Lately, the commercial vehicle market has become competitive with automakers competing with their distinct product offerings. The latest technologies in safety systems are also being used as product differentiators by the OEMs. As a result, the global commercial vehicle market is continuously evolving with changing market dynamics across the globe. Presently, the commercial vehicle segment is gaining pace in terms of penetration of advanced driver-assisted technologies. Thus, the growing driver-assisted steering technologies for commercial vehicles will drive the commercial vehicle steering system market during the forecast period.

Market Overview

Growing preference for M&HCVs for transporting freight

The presence road transport in emerging countries such as China and India is on the rise. The subsequent increase in the use of heavy, medium, and light-duty vehicles is likely to lower the share of rail transport. In China, traffic congestions are caused mainly due to large heavy-duty trucks transporting goods from inner Mongolia to Beijing.

Increasing cost pressure from demand side

Currently, CV component manufacturers and suppliers are facing challenges in the form of quality requirements and cost pressure from the demand side. Hence, manufacturers need to carve out growth strategies to be profitable in this difficult yet attractive market. The bargaining power in the market is largely concentrated on the demand side of the market.

For the detailed list of factors that will drive and challenge the growth of the commercial vehicle steering system market during the 2019-2023, view our report.

Competitive Landscape

The market appears to be fragmented and with the presence of several companies including thyssenkrupp and ZF Friedrichshafen the competitive environment is quite intense. Factors such as the growing preference for M&HCVs for transporting freight, will provide considerable growth opportunities to commercial vehicle steering system companies. Bosch, JTEKT, Knorr-Bremse, Nexteer Automotive, thyssenkrupp, and ZF Friedrichshafen are some of the major companies covered in this report.


PRESS RELEASE

Technavio Announces the Publication of its Research Report – Global Commercial Vehicle Steering System Market 2019-2023

Technavio recognizes the following companies as the key players in the global commercial vehicle steering system market: Bosch, JTEKT, Knorr-Bremse, Nexteer Automotive, thyssenkrupp, and ZF Friedrichshafen

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is Currently, CV component manufacturers and suppliers are facing challenges in the form of quality requirements and cost pressure from the demand side. Hence, manufacturers need to carve out growth strategies to be profitable in this difficult yet attractive market. The bargaining power in the market is largely concentrated on the demand side of the market.”

According to the report, one driver in the market is growing preference for M&HCVs for transporting freight. The presence road transport in emerging countries such as China and India is on the rise. The subsequent increase in the use of heavy, medium, and light-duty vehicles is likely to lower the share of rail transport. In China, traffic congestions are caused mainly due to large heavy-duty trucks transporting goods from inner Mongolia to Beijing.

Further, the report states that one challenge in the market is increasing cost pressure from demand side. Currently, CV component manufacturers and suppliers are facing challenges in the form of quality requirements and cost pressure from the demand side. Hence, manufacturers need to carve out growth strategies to be profitable in this difficult yet attractive market. The bargaining power in the market is largely concentrated on the demand side of the market.

Companies Mentioned

Bosch

JTEKT

Knorr-Bremse

Nexteer Automotive

thyssenkrupp

ZF Friedrichshafen

  • Executive summary
  • Scope of the report
  • Market landscape
    • Market ecosystem
      • Table Global automotive steering system market
      • Table Segments of global automotive steering system market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 (million units)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by application
    • Table Application - Market share 2018-2023 (%)
    • Comparison by application
      • Table Comparison by application
    • LCV - Market size and forecast 2018-2023
      • Table LCV - Market size and forecast 2018-2023 (million units)
      • Table LCV - Year-over-year growth 2019-2023 (%)
    • M&HCV - Market size and forecast 2018-2023
      • Table M&HCV - Market size and forecast 2018-2023 (million units)
      • Table M&HCV - Year-over-year growth 2019-2023 (%)
    • Market opportunity by application
      • Table Market opportunity by application
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • Americas - Market size and forecast 2018-2023
      • Table Americas - Market size and forecast 2018-2023 (million units)
      • Table Americas - Year-over-year growth 2019-2023 (%)
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 (million units)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • EMEA - Market size and forecast 2018-2023
      • Table EMEA - Market size and forecast 2018-2023 (million units)
      • Table EMEA - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Continuous advances in automotive steering technology
    • Growing pursuit of EHPS in heavy commercial vehicles
    • Increasing penetration of steer-by-wire technology
    • Innovation in bus steering systems
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Bosch
      • Table Bosch - Vendor overview
      • Table Bosch - Business segments
      • Table Bosch - Organizational developments
      • Table Bosch - Geographic focus
      • Table Bosch - Segment focus
      • Table Bosch - Key offerings
    • JTEKT
      • Table JTEKT - Vendor overview
      • Table JTEKT - Business segments
      • Table JTEKT - Organizational developments
      • Table JTEKT - Geographic focus
      • Table JTEKT - Segment focus
      • Table JTEKT - Key offerings
    • Knorr-Bremse
      • Table Knorr-Bremse - Vendor overview
      • Table Knorr-Bremse - Business segments
      • Table Knorr-Bremse - Organizational developments
      • Table Knorr-Bremse - Geographic focus
      • Table Knorr-Bremse - Segment focus
      • Table Knorr-Bremse - Key offerings
    • Nexteer Automotive
      • Table Nexteer Automotive - Vendor overview
      • Table Nexteer Automotive - Business segments
      • Table Nexteer Automotive - Organizational developments
      • Table Nexteer Automotive - Geographic focus
      • Table Nexteer Automotive - Segment focus
      • Table Nexteer Automotive - Key offerings
      • Table Nexteer Automotive - Key customers
    • thyssenkrupp
      • Table thyssenkrupp - Vendor overview
      • Table thyssenkrupp - Business segments
      • Table thyssenkrupp - Organizational developments
      • Table thyssenkrupp - Geographic focus
      • Table thyssenkrupp - Segment focus
      • Table thyssenkrupp - Key offerings
    • ZF Friedrichshafen
      • Table ZF Friedrichshafen - Vendor overview
      • Table ZF Friedrichshafen - Business segments
      • Table ZF Friedrichshafen - Organizational developments
      • Table ZF Friedrichshafen - Geographic focus
      • Table ZF Friedrichshafen - Segment focus
      • Table ZF Friedrichshafen - Key offerings
  • Appendix
    • Research methodology
    • List of abbreviations
  • Explore Technavio

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