Key Drivers of Adjustable Steering System Market
- Rise in vehicle production integrated with growing safety features across the globe is likely to propel the adjustable steering system market. Increase in demand for comfortable and safety features in vehicles across the globe is expected to be a key factor boosting the global adjustable steering system market. The adjustable steering system helps improve stability and enables the driver to avoid obstacles and high winds while driving with minimal swaying of the vehicle. Major vehicle manufacturers are introducing adjustable steering systems in their vehicles to increase the safety level in their vehicles. This is anticipated to propel the adjustable steering system market across the globe.
- Enactment of stringent rules and regulations regarding safety standards in the vehicle is likely to increase the demand for adjustable steering system in vehicles across the globe. Rising demand for electrically adjustable steering system due to an increase in vehicle electrification across the globe is anticipated to enhance the use of electrically adjustable steering system in vehicles, which in turn is likely to boost the adjustable steering system market across the globe.
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Europe & Asia Pacific to Hold Significant Share of Global Adjustable Steering System Market
- Europe has presence of several economically stable countries. Majority of key automotive OEMs and aftermarket players including major automakers have strong presence across Europe. Europe has presence of major original equipment manufacturers as well as tier-1 suppliers, including Robert Bosch GmbH, Denso Corporation and ZF Friedrichshafen who have major facilities that undertake research & development on the advanced safety features in vehicles, which is likely to propel the adjustable steering system market across the globe
- Followed by Europe, Asia Pacific is projected to hold a significant share of the global adjustable steering system market due to enactment of stringent norms regarding safety features in vehicles. Presence of major automotive industries across China, India, and Japan is anticipated to propel the adjustable steering system market in Asia Pacific.
Key Players Operating in Adjustable Steering System Market
The global adjustable steering system market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the global adjustable steering system market are:
- ZF Friedrichshafen
- Robert Bosch GmbH
- Hitachi Automotive Systems America Inc.
- JTEKT Corporation
- Nexteer Automotive
- Delphi Automotive
- NSK Ltd.
- Denso Corporation
- Continental AG
- Valeo
- Knorr-Bremse AG
- IMS Limited
- Mando Corporation
- Nissan Motor
- Infineon Technologies
- Hyundai Mobis
- Calsonic Kansei Corporation
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Global Adjustable Steering System Market, by Propulsion
- Internal Combustion Engine (ICE)
- Battery Electric Vehicle(BEV)
- Hybrid Electric Vehicle (HEV)
Global Adjustable Steering System Market, by Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Truck & Buses
Global Adjustable Steering System Market, by Component
- Steering Angle Sensors
- Motor Driver ICs
- ECU
- Others
Global Adjustable Steering System Market, by Product Type
- Manually Adjustable Steering System
- Electrically Adjustable Steering System
Global Adjustable Steering System Market, by Sales Channel
- OEM
- Aftermarket
Global Adjustable Steering System Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Nordic Region
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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