Automotive Steering Control Module Market Scope
An automotive steering control module system helps in assisting the driver to steer the vehicle in the desired direction. From the past few years, automotive steering systems have grown from rigid mechanisms to more technologically advanced, smooth, easy-to-handle and reliable systems. Thus the modern vehicles are nowadays equipped with advanced safety systems and advanced driver assistance systems (ADAS), namely airbags (in steering wheels), antilock braking system (ABS), adaptive cruise control (ACC), and power assist steering (PAS), in order to ensure safe and smooth driving and to provide enhanced directional stability and quickness to the vehicle. All the aforementioned reason helps in driving the market dynamics.
The market study is being classified by Type (Power-Assisted Steering (EPAS) and Electric Hydraulic Power Steering (EHPS)), by Application (Passenger Vehicles, Medium Commercial Vehicles and Light Duty Commercial Vehicles) and major geographies with country level break-up.
Research Analyst at AMA predicts that Global Vendors will contribute to the maximum growth of Global Automotive Steering Control Module market throughout the predicted period.
Bosch (Germany), HELLA (Germany), Thyssenkrupp (Germany), DENSO (Japan), Nexteer Automotive (United States), ZF Friedrichshafen (Germany), CIE Automotive (Spain), Eaton (Ireland), Hyundai Mobis (South Korea) and JTEKT (Japan) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are KSR International (Canada), Leopold Kostal (Germany), Mando (South Korea) and NSK (Japan).
AdvanceMarketAnalytics has segmented the market of Global Automotive Steering Control Module market by Type, Application and Region.
On the basis of geography, the market of Automotive Steering Control Module 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).
Market Leaders and their expansionary development strategies
On July 24, 2019, Hella expands the steering control module portfolio. The company intends to produce the steering control modules not only in Germany and China but also in Romania, Mexico, Brazil, and India.
- Growing demand for SBW technology
- The increasing demand for passenger cars exponentially in emerging economies such as China, India, and Brazil, owing to the significant economic growth coupled with the purchasing power of consumers. There has been tremendous growth in emerging markets and global trade activities, especially in the BRIC nations such as Brazil, Russia, India, and China.
- Growing Demand for Fuel-Efficient Vehicles across the Globe
- Improvement in Safety and Vehicle Performance Leading to an Increase in Adoption of EPS
- Owing to the lack of production facilities in regions like the Middle East and Africa. Moreover, these have comparatively low productions of vehicles in Latin America, thus the market potential of the steering control module is low in these regions.
- High-cost pressure faced by vendors and OEMs
- Huge cost Constraints Associated to these Modules along with Declined use of Hydraulic Power Steering Owing to Large Space Requirement
Key Target AudienceAutomotive Steering Control Module Manufacturer, Automotive Steering Control Module Distributors, Potential Investor, End-Users and Others
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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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