Scope of the Study
The steering gearbox comprises the gears which transmit the driverís steering responses to the steering linkage that help in turning the wheels, and it multiplies the driverís steering changes so that the front wheels can move more than the steering wheel. Rack-and-pinion steering is mainly used by car-based vehicles in which the steering wheel turns a pinion gear that travels on a rack to turn the front wheels. Some vehicles use recirculating ball systems in which ball bearings are attached on worm-type steering gear.
The market study is being classified by Type (Worm & Roller, Worn & Sector, Cam & Roller, Cam Peg, Cam & Turn Lever and Others [Screw & Nut, Recirulating Ball, Worm & Ball, Rack & Pinion]), by Application (Passenger Cars and Commercial Vehicles) and major geographies with country level break-up.
Bosch Auto Parts (United States), Knorr-Bremse (Germany), Nexteer Automotive (United States), Thyssenkrupp (Germany), ZF Friedrichshafe AG (Germany), Sweet Manufacturing, Inc. (United States), Lares Corporation (United States), Ningbo Cie Industry and Trade Co., Ltd (China), Unisteer (United States) and BBB Industries (United States) are some of the key players profiled in the study.
Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Steering Gear Box market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Steering Gear Box market by Type, Application and Region.
On the basis of geography, the market of Steering Gear Box has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Demand of Automotive Across the Globe
- Rising Demand for High Rotation Capacity Steering Systems
- Growing Adoption of Electric Power Steering
- The Gearbox Can Develop Leaks or the Gearbox Case Can Crack
- Fluctuation in the Prices of Raw Material
- Rising Consumer Preference towards Driving Comfort
- Less Penetration of Power Steering in Low Segment Vehicles
Market Leaders and their expansionary development strategies
On August 20, 2019 - Nexteer Automotive, a global leader in intuitive motion control, has announced the Dongfeng Nexteer Steering Systems Co., Ltd., joint venture (JV) with Dongfeng Motor Parts and Components Group Co., Ltd. (Dongfeng Components), starts mass production of Single Pinion Assist Electric Power Steering (SPEPS) systems. and On November 19, 2019 - ZF Friedrichshafen AG and Chinaís Wolong Electric Group Co., Ltd are stepping up their existing cooperation. The two companies have signed an agreement to establish a joint venture that will produce components and electric motors for automotive applications. This partnership will enhance the ZF product portfolio and further improve competitiveness in electric driveline systems.
Key Target AudienceManufacturers of Steering Gear Box, Suppliers of Steering Gear Box, Wholesalers, Distributors and Retailers of Steering Gear Box, Automobile Industry and Governmental Bodies
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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