Global Light-duty Truck Steering System Market 2019-2023

Global Light-duty Truck Steering System Market 2019-2023

About this market

The growth of the global light-duty truck steering system market is highly dependent on the sales of light-duty trucks. China, Japan, and countries in North America and Western Europe, which comprise the major markets for light-duty trucks, are expected to see a slowdown in growth or even lower sales during the forecast period. Increasing manufacturing activities in India will raise the demand for transportation and logistics. This will be supported by the robust GDP growth forecast for the country going forward. Hence, these factors will remain positive for India's light-duty truck market. Technavio’s analysts have predicted that the light-duty truck steering system market will register a CAGR of almost 6% by 2023.

Market Overview

Increased electronic content in light-duty trucks enabling adoption of advanced steering systems

The electrification of vehicles in the forms of powertrain, infotainment, connected vehicles, safety systems, and electronics. Automotive steering systems have also evolved into EPS and EHPS from traditional manual steering and HPS.

Increasing cost pressure on steering system manufacturers from demand side

Currently, commercial-vehicle component manufacturers and suppliers are facing challenges to maintain quality by keeping cost low. Hence, steering system manufacturers are looking to formulate growth strategies to remain profitable in this competitive. Intense competition among OEMs and surging consumer demand also push OEMs to operate within strict cost parameters to remain profitable.

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

Competitive Landscape

The market appears to be highly concentrated and with the presence of limited vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.


PRESS RELEASE

Technavio Announces the Publication of its Research Report – Global Light-duty Truck Steering System Market 2019-2023

Technavio recognizes the following companies as the key players in the global light-duty truck steering system market: Bosch GmbH, JTEKT Corporation, Knorr-Bremse AG, Nexteer Automotive, thyssenkrupp AG, ZF Friedrichshafen AG.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the steer-by- wire technology to gain adoption in light- duty trucks.”

According to the report, one of the major drivers for this market is the increased electronic content in light- duty trucks enabling adoption of advanced steering systems.

Further, the report states that one of the major factors hindering the growth of this market is the increasing prices of raw materials.

Companies Mentioned

Bosch GmbH
JTEKT Corporation
Knorr-Bremse AG
Nexteer Automotive
thyssenkrupp AG
ZF Friedrichshafen AG

  • Executive summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global automotive components market
      • Table Segments of global automotive components 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 ($ billions)
      • 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 type
    • Table Type - Market share 2018-2023 (%)
    • Comparison by type
      • Table Comparison by type
    • EPS - Market size and forecast 2018-2023
      • Table EPS - Market size and forecast 2018-2023 ($ billions)
      • Table EPS - Year-over-year growth 2019-2023 (%)
    • HPS - Market size and forecast 2018-2023
      • Table HPS - Market size and forecast 2018-2023 ($ billions)
      • Table HPS - Year-over-year growth 2019-2023 (%)
    • EHPS - Market size and forecast 2018-2023
      • Table EHPS - Market size and forecast 2018-2023 ($ billions)
      • Table EHPS - Year-over-year growth 2019-2023 (%)
    • Market opportunity by type
      • Table Market opportunity by type
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ billions)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ billions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ billions)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • South America - Market size and forecast 2018-2023
      • Table South America - Market size and forecast 2018-2023 ($ billions)
      • Table South America - Year-over-year growth 2019-2023 (%)
    • Middle East and Africa - Market size and forecast 2018-2023
      • Table Middle East and Africa - Market size and forecast 2018-2023 ($ billions)
      • Table Middle East and Africa - 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
  • Market Trends
    • Steer-by-wire technology to gain adoption in light-duty trucks
    • Integration of electronics and safety systems in steering system
    • Development of independent wheels steering system
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Bosch GmbH
      • Table Bosch GmbH - Vendor overview
      • Table Bosch GmbH - Business segments
      • Table Bosch GmbH - Organizational developments
      • Table Bosch GmbH - Geographic focus
      • Table Bosch GmbH - Segment focus
      • Table Bosch GmbH - Key offerings
    • JTEKT Corporation
      • Table JTEKT Corporation - Vendor overview
      • Table JTEKT Corporation - Business segments
      • Table JTEKT Corporation - Organizational developments
      • Table JTEKT Corporation - Geographic focus
      • Table JTEKT Corporation - Segment focus
      • Table JTEKT Corporation - Key offerings
    • Knorr-Bremse AG
      • Table Knorr-Bremse AG - Vendor overview
      • Table Knorr-Bremse AG - Business segments
      • Table Knorr-Bremse AG - Organizational developments
      • Table Knorr-Bremse AG - Geographic focus
      • Table Knorr-Bremse AG - Segment focus
      • Table Knorr-Bremse AG - Key offerings
    • Nexteer Automotive
      • Table Nexteer Automotive - Vendor overview
      • Table Nexteer Automotive - Product segments
      • Table Nexteer Automotive - Organizational developments
      • Table Nexteer Automotive - Geographic focus
      • Table Nexteer Automotive - Segment focus
      • Table Nexteer Automotive - Key offerings
    • thyssenkrupp AG
      • Table thyssenkrupp AG - Vendor overview
      • Table thyssenkrupp AG - Business segments
      • Table thyssenkrupp AG - Organizational developments
      • Table thyssenkrupp AG - Geographic focus
      • Table thyssenkrupp AG - Segment focus
      • Table thyssenkrupp AG - Key offerings
    • ZF Friedrichshafen AG
      • Table ZF Friedrichshafen AG - Vendor overview
      • Table ZF Friedrichshafen AG - Business segments
      • Table ZF Friedrichshafen AG - Organizational developments
      • Table ZF Friedrichshafen AG - Geographic focus
      • Table ZF Friedrichshafen AG - Segment focus
      • Table ZF Friedrichshafen AG - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
  • Explore Technavio

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