Global Automotive Steering System to grow at a steady CAGR of more than 8% by 2016-2020

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Outlook of the global automotive steering system market
Technavios market research analyst predicts the global automotive steering system market to grow at a steady CAGR of more than 8% by 2020. The integration of driver assistance systems in vehicles and the development of the steer-by-wire steering system will aid in the growth of this market. Since the automotive steering system market is an integral part of the global automobile market, an increase in the global sale of automobiles will foster growth in the steering systems market during the estimated period.

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In terms of geography, the APAC region will dominate the market for steering systems during the forecast period. This region will account for a market share of more than 52% as it is the fastest and largest automotive market. This region is also the largest hub for automotive manufacturing activities due to its relaxed government incentives, low cost, and raw material advantages. Also, factors like low-cost labor, government incentives such as tax exemption and subsidy towards local manufacturing, and free-trade agreements with other countries in the region will promote market growth in this region during the predicted period.

Segmentation by end market and analysis of automotive steering system market
Aftermarket
OEM

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Table of Content

PART 01: Executive summary
Highlights
PART 02: Scope of the report
Market overview
Top-vendor offerings
PART 03: Market research methodology
Research methodology
Economic indicators
PART 04: Introduction
Key market highlights
PART 05: Market landscape
Market overview
Market size and forecast
Five forces analysis
PART 06: Market segmentation by type
Global automotive steering system market segmentation by type
Global EPS system market
Global HPS system market
Global EHPS system market
PART 07: Market segmentation by end market
Global automotive steering system market segmentation by end market
Global automotive steering system market for OEMs
Global automotive steering system market for aftermarket

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