PORTLAND, ORAGON, UNITED STATES, August 30, 2022 /EINPresswire.com/ — The global India automotive steering system market was valued at $4.68 billion in 2017, and is projected to reach $10.04 billion by 2026, growing at a CAGR of 9.0% from 2019 to 2026. The report provides an in-depth analysis of the market, including top investment pockets, top winning strategies, industry drivers and restraints, market size & forecast, market segmentation, and competitive landscape.
India Automotive Steering System Market by Type (Hydraulic Power Steering, Electronic Power Steering, and Electro-hydraulic Power Steering System), Vehicle Type (Passenger Vehicle, and Commercial Vehicle), Sales Channel (OEM, and Aftermarket), and Component (Steering Wheel, Steering Column, Steering Coupler, Steering Gear, Power Steering Hoses, Power Steering Pump, and Others): Opportunity Analysis and Industry Forecast, 2019–2026
Rise in demand for motor vehicles and increase in adoption of power steering systems fuel the growth of the India automotive steering system market. On the other hand, high cost associated with power steering systems and low penetration of power steering in low segment vehicles impede the growth to some extent. However, introduction of drive-by-wire technology, surge in sale of motor vehicles, and consumer preference toward enhanced driving comfort are anticipated to create an array of opportunities for the key players in the industry.
Request Sample Report at https://www.alliedmarketresearch.com/request-sample/6074
The electronic power steering segment to lead the trail till 2026-
Based on type, the electronic power steering segment contributed to nearly three-fourths of the total market share in 2017 and is anticipated to dominate during the study period. Simultaneously, the hydraulic power steering segment would cite the fastest CAGR of 10.9% throughout 2019–2026.
The passenger vehicles segment to rule the roost by 2026-
Based on end-use, the passenger vehicles segment accounted for more than three-fourths of the total market revenue in 2017 and is expected to retain its dominance by the end of 2026. The medium and heavy commercial segment, on the other hand, would register the fastest CAGR of 14.9% throughout the forecast period.
The OEM segment to remain lucrative during the estimated period-
Based on sales channel, the OEM segment held the largest share in 2017, garnering nearly three-fifths of the total market. The same segment is also projected to grow at the fastest CAGR of 9.1% during the estimated period.
For Purchase Enquiry : https://www.alliedmarketresearch.com/purchase-enquiry/6074
Frontrunners in the industry-
The key market players analyzed in the India automotive steering system market report include Rane Holdings Limited, Nexteer Automotive Group Limited, DENSO CORPORATION, JTEKT Corporation, Mando Corporation, WABCO, Knorr-Bremse, ZF steering gear India, Bosch Auto Parts, and ThyssenKrupp Business Area Components Technology.
These market players have incorporated several top-end strategies including partnership, expansion, collaboration, joint ventures, and others to retain their strong hold in the industry.
Read More Reports –
Automotive Fintech Market – https://www.alliedmarketresearch.com/automotive-fintech-market
Automotive Front-End Module Market – https://www.alliedmarketresearch.com/automotive-front-end-module-market
New Energy Vehicle (NEV) Taxi Market – https://www.alliedmarketresearch.com/new-energy-vehicle-taxi-market
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
The content is by EIN Presswire. Headlines of Today Media is not responsible for the content provided or any links related to this content. Headlines of Today Media is not responsible for the correctness, topicality or the quality of the content.