The Heavy-duty Trucks Steering System Market will register a CAGR of almost 3% by 2022

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Dec 27, 2018, 17:14 ET

LONDON, Dec. 27, 2018 /PRNewswire/ -- About this market

Truck platooning drives growth of the automated steering wheels during the forecast period. As automated driving technology is penetrating the passenger cars and commercial vehicle segments, truck platooning will be viewed as an essential feature of the self-driven trucks. This technology would play a crucial role in the development of automated steering wheels. Technavio's analysts have predicted that the heavy-duty trucks steering system market will register a CAGR of almost 3% by 2022.

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Market Overview
Increasing adoption of heavy-duty trucks in India and Eastern Europe
The growth of the heavy-duty trucks steering system market, in terms of both volume and revenue, is highly dependent on sales of heavy-duty trucks across the globe.
High-manufacturing cost of heavy-duty trucks
Factors limiting the growth of the heavy-duty trucks would have a negative impact on the heavy-duty trucks steering system market.
For the detailed list of factors that will drive and challenge the growth of the heavy-duty trucks steering system market during the 2018-2022, view our report.

Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Bosch and Knorr-Bremse the competitive environment is quite intense. Factors such as the increasing adoption of heavy-duty trucks in India and Eastern Europe and the truck platooning drives growth of the automated steering wheels, will provide considerable growth opportunities to heavy-duty trucks steering system manufactures. Bosch, Knorr-Bremse, Nexteer Automotive, WABCO, and ZF Friedrichshafen are some of the major companies covered in this report.

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