DUBLIN, May 31, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Hydraulic Steering System Market 2017-2021" report to their offering.
The global hydraulic steering system market to grow at a CAGR of 1.72% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global hydraulic steering system market for 2017-2021. To calculate the market size, the report considers the new installations and sales volume of passenger cars, LCVs, and M&HCVs. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is growing pursuit of EHPS in heavy commercial vehicles. As part of the electrification trend in the automotive industry, energy saving is one of the most important concerns for the development of new vehicles, especially for power steering systems.
According to the report, one of the major drivers for this market is high penetration of hydraulic power steering in commercial vehicles. The conventional hydraulic power steering is edominantly used in heavy commercial vehicles. Most commercial vehicles use the hydraulic or the EHS system as the EPS system has not been able to cross the 15 kN barriers. Ford F-150 and Ram 1500 trucks are equipped with EPS, but other HCVs are still dependent on hydraulic steering systems.
Further, the report states that one of the major factors hindering the growth of this market is increasing penetration of EPS system. EPS systems imove the fuel economy by 2.5% compared with hydraulic systems as they do not use pumps, hoses, drive belts, fluids, and pulleys. EPS systems tend to be smaller and lighter than hydraulic systems. Also, unlike a hydraulic power steering system that is continually driven using a hydraulic pump, the EPS motor is powered only when necessary.
- Increasing sales of body-on-frame SUVs
- High penetration of hydraulic power steering in commercial vehicles
- Growing preference for M&HCVs for transporting freight
- Increasing penetration of EPS system
- Growing car-sharing services in China, India, and Brazil
- Rise in number of on-demand taxi operators
- Growing pursuit of EHPS in heavy commercial vehicles
- Increasing penetration of steer-by-wire technology
- Rise in electrification of mechanical components
- ZF Friedrichshafen
- Nexteer Automotive
Other prominent vendors:
- Robert Bosch
- ThyssenKrupp Presta
- Hyundai Mobis
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by product
Part 07: Geographical segmentation
Part 08: Market drivers
Part 09: Impact of drivers
Part 10: Market challenges
Part 11: Impact of drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
Part 14: Key vendor analysis
For more information about this report visit http://www.researchandmarkets.com/research/ml5xzm/global_hydraulic
Laura Wood, Senior Manager
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SOURCE Research and Markets