According to TMR, 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.
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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.
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Products Covered:
• Electric Power Steering
• Electro-Hydraulic Power Steering
• Hydraulic Power Steering
Applications Covered:
• Medium-Duty Truck
• Heavy-Duty Truck
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub-segments, and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
The global Heavy-Duty Truck Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the heavy-duty truck market include Ashok Leyland, Daimler Trucks, FAW Group Corporation, ISUZU MOTORS, Iveco, Mack Trucks, MAN, PACCAR, Scania, Tata Motors and Volvo Trucks among others.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Heavy-Duty Truck Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/heavy-duty-truck-market/download-sampleMarket DynamicsGrowing domestic, as well as international trade activities, is majorly driving the market growth.
Booming logistics and construction sector is directly up surging the demand for the heavy-duty trucks.
Technological advancement leading to the development of electric and hybrid trucks is expected to foster market growth.
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