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Technavio’s market research report predicts that the global automotive dynamic steering system market will grow at a CAGR of above 13% during the forecast period. One of the primary drivers for the market’s growth is the electrification of automotive components for precise and accurate steering control. To adhere to the government safety norms and regulations, manufacturers and suppliers are increasingly investing in technologies that assist in engine downsizing, development of advanced safety systems, generate higher fuel efficiency, and allow also the electrification of various systems and components. Additionally, comfort, and convenience systems and the powertrain are also witnessing rapid developments and technological advancements. Moreover, with the introduction of stricter regulations, automotive manufacturers are focusing on the adoption of alternate technologies such as flexible fuels, natural gas engines, hybrid electric and all-electric vehicles. This will increase the number of electric components used in a vehicle and consequently aid in the growth of the market.
One of the latest trends that will gain traction in the global automotive dynamic steering system market in the coming years is the adoption of multi-axle dynamic steering system for better handling and driving characteristics. The rising demand for the advanced drive handling technologies have led the automotive safety systems designers to invest in the research and development of drive technologies for ideal performance. Moreover, the market for large commercial vehicles is intensely growing due to increasing trade activities, economic development and improving world infrastructure. Therefore, the automotive system designers and developers have come up with multi-axle dynamic steering system that results in higher handling capabilities, better safety of the vehicle and integrates a mechanism that has a simpler design and costs low. This system enhances the agility and stability of the huge vehicles at various speeds thus fueling market growth.
The global automotive dynamic steering system market is largely split by many players and suppliers operating at various levels in the automotive industry. The competition is mainly based on the quality, availability, customer relationships, and pricing with R&D also playing a key role in the dynamic steering control market. Furthermore, the rising demand of the automotive steering systems is nudging the manufacturers to integrate advanced steering systems in their vehicles and leading vendors are actively increasing their investments due to the market’s growth potential.
Key vendors in the market are:
Other prominent vendors include AUDI and Knorr-Bremse.
During 2016, the automotive dynamic steering system market is dominated by the passenger cars segment and is expected to lead the market during the next four years as well. Factors such as the rising demand for driver-assisted safety technologies in the vehicles, the introduction of strict safety standards and norms by governments, and the demand for luxury cars and premium sport utility vehicles, fuel growth of the dynamic steering control market.
In terms of geographical regions, Europe dominated the automotive dynamic steering system market during 2016. The growth is mainly attributed to the availability of improved transportation services and developed communication infrastructure in the Western European countries. Moreover, technologies like dynamic steering response, active steering, and advanced driver assisted system (ADAS) with strict vehicle safety norms and star ratings awarded by the European New Car Assessment Program on vehicle safety and security also adds to the growth of the dynamic steering control market.
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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 vehicle type
PART 07: Market segmentation by geography
PART 08: Market drivers
PART 09: Market challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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Tags: vehicle dynamics, power steering, automotive manufacturers, wheels and tires, automotive suppliers, automotive electronics market forecast,
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