Market Research Report
Hydraulic Steering System - Global Market Outlook (2017-2026)
|Published by||Stratistics Market Research Consulting||Product code||907695|
|Published||Content info||173 Pages
Delivery time: 2-3 business days
|Hydraulic Steering System - Global Market Outlook (2017-2026)|
|Published: August 19, 2019||Content info: 173 Pages||
According to Stratistics MRC, the Global Hydraulic Steering System Market is expected to grow at a CAGR of 7.2% during the forecast period. The increasind demand for automobile, increased demand for smooth driving and the rise of emerging markets are the key driving factors for the market growth. However, rise in car share option is a factor hindering the market growth.
Hydraulic power steering systems work by using a hydraulic system to multiply force applied to the steering wheel inputs to the vehicle's steered (usually front) road wheels. The hydraulic pressure typically comes from a gerotor or rotary vane pump driven by the vehicle's engine.
Based on Product, Hydraulic Cylinder segment is going to have a considerable demand during the forecast period. A hydraulic cylinder (also called a linear hydraulic motor) is a mechanical actuator that is used to give a unidirectional force through a unidirectional stroke. It has many applications, notably in construction equipment (engineering vehicles), manufacturing machinery, and civil engineering. By Geography, Asia Pacific is likely to have a huge demand during the forecast period because the utilization of the hydraulic steering system in full-size SUVs, LCVs, and M&HCVs and the high penetration are increasing in this region.
Some of the key players profiled in the Hydraulic Steering System include ATS, GKN, Hyundai Mobis, JTEKT, Mando, Nexteer Automotive, Robert Bosch, ThyssenKrupp and ZF Friedrichshafen.