DUBLIN, June 19, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global and China Automotive Steering System Industry Report, 2017-2021" report to their offering.
According to the Technology Roadmap for Energy Saving and New Energy Vehicles issued by the Society of Automotive Engineers of China, energy-efficient vehicles are expected to hold a 50% market share by 2030. Driven by rapid growth of new energy vehicles, the sales and penetration of EPS as a standard configuration, hopefully, increase substantially.
In 2016, the automotive steering system industry at home and abroad was characterized by:
Global automotive steering system market benefits enormously from a steady growth in auto sales with the demand increasing by 4.7% year on year to 93.86 million sets in 2016. China's demand reached 28.12 million sets in 2016, including 24.42 million sets of steering system for passenger cars, and is expected to total 38.05 million sets in 2021.
Global automotive steering system market is primarily occupied by multinational companies including JTEKT, BOSCH, TRW, NSK, Mando, and Nexteer. In 2016, JTEKT and BOSCH together seized more than one-third (35.4%) share of the whole market.
Meanwhile, foreign brand giants, by virtue of technical advantages of products and their capital relations with foreign brand carmakers, dominate the Chinese automotive steering system market. Local Chinese enterprises represented by CAAS and Zhejiang Shibao claim a relatively small market share. They are enhancing competitive strength by making more efforts to develop new products.
EPS has become a mainstream automotive steering system, capturing 54.7% of global demand for steering system in 2016. The assembly rate of EPS in China has also reached 53%.
The report focuses on the following:
- Global and Chinese automotive steering system markets (status quo, market size, competitive landscape, supply relation, imports & exports, prospects, etc.);
- Global and Chinese EPS markets (status quo, market size, competitive landscape, trends, summary & forecast, etc.);
- Global and Chinese hydraulic steering system markets;
- 8 foreign and 13 domestic automotive steering system producers, including their operation, major customers, R&D investment, output & sales, etc.
Key Topics Covered:
1. Overview of Automotive Steering System
2. Automotive Steering System Market
3. Electric Power Steering Market
4. Hydraulic Steering System Market
5. Key Global Manufacturers
6. Key Chinese Manufacturers
- Anhui Finetech Machinery
- Dare Automotive Parts
- Donghua Automotive Industrial
- FAWER Automotive Parts
- Hafei Industrial Group Automobile Redirector Obligate Co., Ltd.
- Hitachi Automotive Systems
- Hubei Tri-Ring Motor Steering Gear
- Jiangmen Xingjiang Steering Gear
- Nexteer Automotive
- Yubei Steering System
- Zhejiang Shibao
- Zhejiang Vie Pump-Manu
- Zhejiang Wanda Steering Gear
For more information about this report visit https://www.researchandmarkets.com/research/2ztm9v/global_and_china
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets