Global Light-duty Truck Steering System Market 2019-2023

Some of the key findings from our light-duty truck steering system market forecast report are summarized below

See the complete table of contents and list of exhibits, as well as selected illustrations and example pages from this report.

Get a FREE sample now! 

Global light-duty truck steering system industry overview

The demand for light-duty trucks is increasing especially in emerging countries such as India and countries in South America and Eastern Europe. Robust GDP growth and expanding manufacturing activities will increase the demand for transportation and logistics in India which in turn will drive the demand for light-duty trucks. In Eastern Europe, better road infrastructure is expected to contribute to the high demand for light-duty trucks. With increasing sales of light-duty trucks, the demand for a light-duty truck steering system is also bound to grow during the next five years.

Steer-by-wire technology in light-duty truck steering system helps in enhancing the handling and safety of light-duty trucks by removing the physical connection between the steering wheel and steering system. The steer-by-wire system also offers better reliability, performance, and fuel efficiency than the conventional steering system. The easy implementation and low production costs of these systems will further boost its adoption in light duty trucks. Although the use of steer-by-wire technology in light-duty trucks is in the nascent stage, its adoption is expected to increase in the coming years and drive the growth of the light-duty truck steering system at a CAGR of almost 6% during the forecast period.

Top light-duty truck steering system companies covered in this market research report

The global light-duty truck steering system market is highly concentrated. To help clients improve their revenue shares in the market, this research report provides an analysis of the market’s competitive landscape and offers information on the products offered by various leading companies. Additionally, this light-duty truck steering system market analysis report suggests strategies companies can follow and recommends key areas they should focus on, to make the most of upcoming growth opportunities.

The report offers a detailed analysis of several leading companies, including:

• Bosch GmbH
• JTEKT Corporation
• Knorr-Bremse AG
• Nexteer Automotive
• thyssenkrupp AG
• ZF Friedrichshafen AG

Light-duty truck steering system market segmentation based on type

• EPS
• HPS
• EHPS

The EPS segment will account for the highest light-duty truck steering system market share because of its rising adoption in light-duty trucks. This report provides an accurate prediction of the contribution of all the segments to the growth of the light-duty truck steering system market size.

Light-duty truck steering system market segmentation based on geographic region

• The Middle East and Africa
• APAC
• Europe
• North America
• South America

With a complete study of the growth opportunities for the companies, it has been identified that North America will account for the highest share of the light-duty truck steering system market throughout the forecast period. The growing perception of pickup trucks as a lifestyle choice and replacement of aging light-duty truck fleets with newer models are some of the factors contributing to light-duty truck steering system market growth in this region.

Key highlights of the global light-duty truck steering system market for the forecast years 2019-2023:

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will accelerate the growth of the light-duty truck steering system market during the next five years
• Precise estimation of the global light-duty truck steering system market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the light-duty truck steering system industry across the Middle East and Africa, APAC, Europe, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details of factors that will challenge the growth of light-duty truck steering system companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch