Market Research Report
Global Medium and Heavy-duty Truck Steering System Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||756738|
|Published||Content info||119 Pages
Delivery time: 1-2 business days
|Global Medium and Heavy-duty Truck Steering System Market 2019-2023|
|Published: December 3, 2018||Content info: 119 Pages||
The growth of medium and heavy-duty truck steering system industry is highly dependent on sales of medium and heavy- duty trucks, this will propel the market growth during our forecast period. The growing manufacturing activities in India will raise demand for transportation and logistics services as the country has a faster economic growth. The market has also witnessed a steady growth in cities across the US and Southern America due to increasing demand for last mile deliveries which will be a key factor behind the growth of the market. Therefore, the increasing need for enhanced safety, performance, and driver comfort in heavy-duty trucks will propel the demand for medium and heavy-duty truck steering system market. Technavio's market research analysts have predicted that the medium and heavy-duty truck steering system market will register a CAGR of almost 2% during the forecast period.
Improvement in steering systems have augmented the safety levels of heavy- duty trucks and are expanding the adoption of the systems by more OEMs. Therefore, these developments are pushing the growth of the heavy- duty trucks steering systems markets, and it will sustain during our forecast period.
Growing environment issues such as air pollution have promoted the formulation of stringent regulations for the automotive industry. The majority of regulations are targeted at medium and heavy- duty trucks as they contributed significantly to CO2 emissions even through their volumes are lower than passenger's cars and LCVs.
For the detailed list of factors that will drive and challenge the growth of the medium and heavy-duty truck steering system market during the 2019-2023, view our report.
The medium and heavy-duty truck steering system market is highly concentrated with stiff competition among medium and heavy-duty truck steering system manufacturers who offer steering systems for medium-duty and heavy-duty trucks. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.