According to the latest market research report released by Technavio, the global automotive steering pump market is expected to register a CAGR of nearly 8% during the forecast period. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180913006067/en/
According to the latest market research report released by Technavio, the global automotive steering pump market is expected to register a CAGR of nearly 8% until 2021. (Graphic: Business Wire)
This research report titled 'Global Automotive Steering Pump Market 2017-2021' provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
The market research analysis categorizes the global automotive steering pump market into the following products:
- Passenger cars
- LCVs
- M&HCVs
In 2016, the passenger cars segment accounted for nearly 60% of the global market and is projected to decrease by 2021.
Global automotive steering pump market: Key emerging trend
Electrification of mechanical components is an emerging trend in the automotive steering pump space. Implementation of regulations and emission norms to limit the carbon footprint of vehicles has caused the automakers to electrify mechanical parts. Electrification reduces the load on the engine, which, in turn, increases its efficiency and reduces the engine temperature. The EPS is a perfect system to counter emission regulations. EPS system provides quick and efficient steering feedback with software features, such as parking assistance and lane-change assistance. In EPS, the turning movements of the steering wheel are converted into electronic signals that control the electric motors responsible for moving the wheels in the right direction with appropriate feedback. The EPS system uses an electric coolant pump, which manages the internal combustion engine proactively and optimizes the supply of coolant to the engine.
Looking for more information on this market? Request a free sample report
Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Technavio's report provides expert market research on the following topics:
Executive Report
- Market Outline
- Global Automotive Steering Pump Market Overview
Market Insights
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, and EMEA)
- Key leading countries
- Market segmentation by product (passenger cars, LCVs, and M&HCVs)
Vendor Landscape
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (Bosch, Nexteer, and ZF)
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20180913006067/en/
Contacts:
Technavio Research
Jesse Maida
Media Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com
