LONDON–(BUSINESS WIRE)–Technavio has been monitoring the automotive steering motor market and it is poised to grow by USD 2.06 billion during 2019-2023, progressing at a CAGR of almost 9% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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The market is concentrated, and the degree of concentration will accelerate during the forecast period. Bosch, Brose Fahrzeugteile, DENSO, Johnson Electric, MAHLE, and SKF are some of the major market participants. The use of EPS in modern vehicles will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Use of EPS in modern vehicles has been instrumental in driving the growth of the market.
Automotive Steering Motor Market 2019-2023: Segmentation
Automotive Steering Motor Market is segmented as below:
Electric Power Steering
Electro-hydraulic Power Steering
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Automotive Steering Motor Market 2019-2023: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our automotive steering motor market report covers the following areas:
Automotive Steering Motor Market Size
Automotive Steering Motor Market Trends
Automotive Steering Motor Market Industry Analysis
This study identifies increasing penetration of steer-by-wire technology as one of the prime reasons driving the automotive steering motor market growth during the next few years.
Automotive Steering Motor Market 2019-2023: Vendor Analysis
We provide a detailed analysis of vendors operating in the automotive steering motor market, including some of the vendors such as Bosch, Brose Fahrzeugteile, DENSO, Johnson Electric, MAHLE, and SKF. Backed with competitive intelligence and benchmarking, our research reports on the automotive steering motor market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Automotive Steering Motor Market 2019-2023 : Key Highlights
CAGR of the market during the forecast period 2019-2023
Detailed information on factors that will assist automotive steering motor market growth during the next five years
Estimation of the automotive steering motor market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the automotive steering motor market
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of automotive steering motor market vendors
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