Medium and Heavy-Duty Truck Steering System - Global Market Outlook (2017-2026)

Publish Date: Mar 2022

Category: Automotive & Transportation

Publisher: Stratistics MRC

Status: Publish

According to TMR, the Global Medium and heavy-duty truck steering system market is accounted for $2.40 million in 2017 and is expected to reach $3.36 million by 2026 growing at a CAGR of 3.8% during the forecast period. The rising need for improved commercial vehicle protection, performance and truck driver comfort in medium and heavy-duty trucks are some of the key factors which are driving the market growth. However, growing the price of latest trucks is restraining the market growth.

Heavy duty trucks appear under heavy duty commercial vehicles and are used for cargo shipping, logistics operations, construction, mining, and agricultural fields for diverse function. These trucks find appliance in the industry such as logistics, manufacture, and others. Demand for heavy duty trucks, has been witness a notable climb.

Based on Application, Medium Duty Truck is used for a selection of lighter responsibility applications. Medium duty trucks also contain a lower fuel economy than heavy duty trucks, manufacturing them the ultimate choice for certain lighter applications. Drivers desire to use medium duty trucks for their garbage truck requirements owing to the fixed turning radius and high visibility that is helpful while their route requires them to navigate Neighbourhood Street. By Geography, Asia Pacific region is likely to direct through the estimate period. China, India, Thailand, Indonesia and other developing country are considering a rising demand for medium and heavy-duty trucks. 

Some of the key players profiled in the Medium and heavy-duty truck steering system Market include Hyundai Mobis, JTEKT, NSK, Showa, Thyssenkrupp, Bosch Steering Systems, Knorr Bremse (Bendix)/Tedrive Steering, RH Sheppard, ZF TRW, Nexteer Automotive, Mando, and WABCO.
Products Covered:
• Electric Power Steering
• Electro-Hydraulic Power Steering
• Hydraulic Power Steering

Applications Covered:
• Medium-Duty Truck
• Heavy-Duty Truck

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players 
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub-segments, and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the clients interest (Note: Depends of feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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