Market Research Report
Medium and Heavy-Duty Truck Steering System - Global Market Outlook (2017-2026)
|Published by||Stratistics Market Research Consulting||Product code||907668|
|Published||Content info||160 Pages
Delivery time: 2-3 business days
|Medium and Heavy-Duty Truck Steering System - Global Market Outlook (2017-2026)|
|Published: August 19, 2019||Content info: 160 Pages||
According to Stratistics MRC, the Global Medium and heavy-duty truck steering system market is accounted for $2.40 million in 2017 and is expected to reach $3.36 million by 2026 growing at a CAGR of 3.8% during the forecast period. The rising need for improved commercial vehicle protection, performance and truck driver comfort in medium and heavy-duty trucks are some of the key factors which are driving the market growth. However, growing the price of latest trucks is restraining the market growth.
Heavy duty trucks appear under heavy duty commercial vehicles and are used for cargo shipping, logistics operations, construction, mining, and agricultural fields for diverse function. These trucks find appliance in the industry such as logistics, manufacture, and others. Demand for heavy duty trucks, has been witness a notable climb.
Based on Application, Medium Duty Truck is used for a selection of lighter responsibility applications. Medium duty trucks also contain a lower fuel economy than heavy duty trucks, manufacturing them the ultimate choice for certain lighter applications. Drivers desire to use medium duty trucks for their garbage truck requirements owing to the fixed turning radius and high visibility that is helpful while their route requires them to navigate Neighbourhood Street. By Geography, Asia Pacific region is likely to direct through the estimate period. China, India, Thailand, Indonesia and other developing country are considering a rising demand for medium and heavy-duty trucks.
Some of the key players profiled in the Medium and heavy-duty truck steering system Market include Hyundai Mobis, JTEKT, NSK, Showa, Thyssenkrupp, Bosch Steering Systems, Knorr Bremse (Bendix)/Tedrive Steering, RH Sheppard, ZF TRW, Nexteer Automotive, Mando, and WABCO.
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances