Global Bus Steering System Market Overview:
Bus Steering System enables a bus or coach to manoeuvre through busy cities and narrow streets. Technological advancements has led to steering systems that increase the safety factor and reduce strain caused to the driver due to mechanical steering. Today, 54 per cent of the world’s population lives in urban areas, a proportion that is expected to increase to 66 per cent by 2050, bringing with it the challenges of sustainable urban mobility within the mass public transport system to support economic growth and with improved transport modes come the environmental challenges.
- Rising Need for Safe Driving Is the Key Driver
- Growing Steering Assisted Technologies for Buses
- Enhanced Bus Steering System to Reduce Fuel Consumption
- Rising Volume of Buses Due To Urbanization
- Increasing Cost Pressure from Demand Side
Some of the key players profiled in the report are Robert Bosch (Germany), Daimler AG (Germany), JTEKT (Japan), ZF Friedrichshafen (Germany), V.S.E. Vehicle Systems Engineering B.V. (Netherlands), Denso (Japan), ThyssenKrupp (Germany), Hyundai Mobis (South Korea), Geely (South Korea) and WABCO (France). Analyst at AdvanceMarketAnalytics see Germans Vendors to retain maximum share of Global Bus Steering System market by 2024. Considering Market by System Components, the sub-segment i.e. Steering Wheel will boost the Bus Steering System market. Considering Market by Power Steering Pump Type, the sub-segment i.e. Vane will boost the Bus Steering System market.
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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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Bus Steering System market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Bus Steering System market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Steering System Manufacturer, Traders/Distributors/Suppliers, Raw Material Supplier, End-User and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.