Medium and Heavy-duty Truck Steering System Market size to grow by 1401.00 thousand units | Technavio

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Vendor Insights 

The medium and heavy-duty truck steering system market is concentrated, and the vendors are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• AB Volvo
• China Automotive Systems Inc.
• Hyundai Motor Co.
• JTEKT Corp.
• Knorr-Bremse AG
• Mando Corp.
• Nexteer Automotive Group Ltd.
• Robert Bosch GmbH
• thyssenkrupp AG
• ZF Friedrichshafen AG

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Geographical Market Analysis 

APAC will provide maximum growth opportunities in the medium and heavy-duty truck steering system market during the forecast period. According to our research, the region will contribute 90% of the global market growth during this period. China, Japan, and India are the major markets in APAC. The rapid growth of the construction sector will drive the medium and heavy-duty truck steering system market growth in APAC during the forecast period. 

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Key Segment Analysis

The medium and heavy-duty truck steering system market share growth by the hydraulic power steering segment will be significant during the forecast period. The adoption rate of advanced steering systems is expected to remain sluggish. The major reasons for making steering systems technologically advanced are for improving fuel efficiency and enhancing the driving experience.

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Key Market Drivers & Challenges: 

The dynamic steering for medium and heavy-duty trucks is driving the growth of the medium and heavy-duty truck steering system market. Fleet operators are now considering safety, comfort, and convenience features, such as driver fatigue detection, collision avoidance, attention assist, dynamic steering systems, surround-view parking, and lane departure warning (LDW) systems. Advanced steering technologies such as dynamic steering aid in enhancing driver safety and comfort.

The high manufacturing cost of medium and heavy-duty trucks will challenge the medium and heavy-duty truck steering system market during the forecast period. The incorporation of advanced technologies in medium and heavy-duty trucks will increase their manufacturing cost, which would be partially pushed onto end-users.

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Table of Contents:

Market Landscape

Executive Summary

• Market ecosystem

Market Landscape

• Value chain analysis
• Market ecosystem
• Value chain analysis

Market Sizing

Market Sizing

• Market definition
• Market definition
• Market segment analysis
• Market size 2021
• Market segment analysis
• Market outlook: Forecast for 2021 - 2026
• Market size 2021

Five Forces Analysis

• Market outlook: Forecast for 2021 - 2026
• Bargaining power of buyers

Five Forces Analysis

• Bargaining power of suppliers
• Bargaining power of buyers
• Threat of new entrants
• Bargaining power of suppliers
• Threat of substitutes
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition
• Threat of rivalry

Market Segmentation by Application

• Market condition
• Market segments

Market Segmentation by Application

• Comparison by Application
• Market segments
• Comparison by Application
• Medium-duty truck - Market size and forecast 2021-2026
• Heavy-duty truck - Market size and forecast 2021-2026
• Medium-duty truck - Market size and forecast 2021-2026
• Heavy-duty truck - Market size and forecast 2021-2026
• Market opportunity by Application

Market Segmentation by Type

• Market opportunity by Application
• Market segments

Market Segmentation by Type

• Comparison by Type
• Market segments
• Comparison by Type
• Hydraulic power steering - Market size and forecast 2021-2026
• Hydraulic power steering - Market size and forecast 2021-2026
• Electro-hydraulic power steering - Market size and forecast 2021-2026
• Electro-hydraulic power steering - Market size and forecast 2021-2026
• Electric power steering - Market size and forecast 2021-2026
• Electric power steering - Market size and forecast 2021-2026
• Market opportunity by Type

Geographic Landscape

• Market opportunity by Type

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2021-2026
• APAC - Market size and forecast 2021-2026
• North America - Market size and forecast 2021-2026
• Europe - Market size and forecast 2021-2026
• North America - Market size and forecast 2021-2026
• Europe - Market size and forecast 2021-2026
• South America - Market size and forecast 2021-2026
• MEA - Market size and forecast 2021-2026
• South America - Market size and forecast 2021-2026
• MEA - Market size and forecast 2021-2026
• Key leading countries
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market opportunity by geography
• Market challenges
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Market trends
• Vendor landscape

Vendor Landscape

• Vendor landscape
• Landscape disruption
• Landscape disruption

Vendor Analysis

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Vendors covered
• Market positioning of vendors
• AB Volvo
• AB Volvo
• China Automotive Systems Inc.
• Hyundai Motor Co.
• China Automotive Systems Inc.
• JTEKT Corp.
• Hyundai Motor Co.
• Knorr-Bremse AG
• JTEKT Corp.
• Knorr-Bremse AG
• Mando Corp.
• Nexteer Automotive Group Ltd.
• Mando Corp.
• Nexteer Automotive Group Ltd.
• Robert Bosch GmbH
• Robert Bosch GmbH
• thyssenkrupp AG
• thyssenkrupp AG
• ZF Friedrichshafen AG

Appendix

• ZF Friedrichshafen AG

Appendix

• Scope of the report
• Scope of the report
• Currency conversion rates for US$
• Research methodology
• Currency conversion rates for US$
• Research methodology
• List of abbreviations
• List of abbreviations

About Us: 

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. 

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