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Transparency Market
Research
Increasing Vehicle Production in Asia Pacific to Drive
Global Automotive Steering Systems Market
Published Date
2015-07-31
81 Page Report
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Report
Automotive Steering Systems Market 2021
Transparency Market Research
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Automotive Steering Systems
Market
REPORT DESCRIPTION
This research study analyzes the Automotive Steering Systems Market on a global level and
provides estimates in terms of revenue (USD) from 2015 to 2021. It gives a comprehensive
overview of the automotive Steering Systems industry from all the important aspects of the
market. It recognizes the drivers and restraints affecting the industry and analyzes their impact
over the forecast period. Moreover, it identifies the significant opportunities for market growth in
the coming years.
Transparency Market Research report states that the automotive steering systems market stood
at US$24.5 bn in 2014 and is predicted to reach US$39.1 billion by 2021. It is expected to expand
at a CAGR of 6.20% between 2015 and 2021. The title of the report is “Automotive Steering
Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast
2015 – 2021”.
The automotive steering systems market is majorly fuelled by the increasing demand for
automobiles from developing economies and the rising demand for fuel-efficient vehicles,
particularly in developed economies. The rise in demand due to increasing flexibility of vehicles
has also increased the number of manufacturers of automotive steering systems all around the
world.
On the basis of vehicle type, the automotive steering systems market is segmented into light
commercial vehicles (LCV), heavy commercial vehicles (HCV), and passenger vehicles. Amongst
these, the segment of passenger vehicles is...