The Japan automotive electrically-powered hydraulic steering market size is expected to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to rapid development in power steering, increase in tire diameter and width, and high consumer demand for fully equipped vehicles.
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Electrically-powered hydraulic steering is an extension of the hydraulic power steering. The major change is how the hydraulic pump that provides the pressure necessary for the power steering to driven. In electro-hydraulic power steering system, an electric motor drives the pump, controlled according to the necessary assisting steering force. At slow speeds and when the vehicle is stationary, the supply of the hydraulic pump is augmented to supply a major volume of steering power. At high speeds, the pump revolving speed is reduced because assistance is not required.
The Covid-19 pandemic affected the demand and supply of Japan automotive electrically-powered hydraulic steering market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Rise in demand for fuel efficient vehicles is projected to boost the market in the coming years.
- Rapid development in automotive electric power steering is major factor fuelling the market during the forecast period.
- High cost of the products is anticipated to hamper market growth.
- Rapid growth in autonomous cars is projected to hamper the market growth in the coming years.
- R&D investment and technological advancement in automotive electrically-powered hydraulic steering sector is projected to create lucrative opportunities for the market players.
Market Segment Insights
The passenger vehicles segment accounts for key share of the market
Based on vehicle types, the Japan automotive electrically-powered hydraulic steering market is bifurcated into commercial vehicles and passenger vehicles. The passenger vehicles segment accounts for a key share of the market.
The steering motor segment accounts for major share of the market
Based on automations, the Japan automotive electrically-powered hydraulic steering market is fragmented into sensors, steering motor, and others. The steering motor segment accounts for a major share of the market. Growth of the market is attributed to presence of major automotive players in the region, increased spending on luxury cars, and rapid development in road networks.
Geographical outlook
Japan automotive electrically-powered hydraulic steering market is expected to grow at a significant CAGR. Increasing adoption of electric power steering in passenger cars and commercial vehicles is major factor driving the market during the forecast period. Variable ratio steering alternates the co-ordination between the driver’s movements. The vehicle production has growing up significantly in Japan owing to increase in the vehicle production. Due to low production costs the Japan automotive electrically-powered hydraulic steering market is projected to expand in the coming years.
Competitive Landscape
Key players competing in the Japan automotive electrically-powered hydraulic steering market include Mando Corporation, Continental AG, Showa Group, Robert Bosch GmbH, Nexteer Automotive Group Ltd, JTEKT Corporation, NSK Ltd, ZF Friedrichshafen AG, Danfoss, and Thyssenkrupp Presta AG
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Buy this report@ https://www.upmarketresearch.com/buy/automotive-hydraulic-steering-market The report segments the Global Automotive Hydraulic Steering market as: Regional Segment Analysis (Regional Consumption Volume, Consumption Volume, Revenue and Growth Rate 2018- 2025): North AmericaEuropeChinaJapanIndiaSoutheast AsiaOther regions (Central & South America, Middle East & Africa) Product Type Segment Analysis (Consumption Volume, Average Price, Revenue, Market Share and Trend 2018- 2025): Whole Hydraulic SteeringHybrid Steering Application Segment Analysis (Consumption Volume and Market Share 2018- 2025; Downstream Customers and Market Analysis) Passenger VehicleCommercial Vehicle Key Players/Competitor Segment Analysis (Company and Product introduction, Automotive Hydraulic Steering Market Sales Volume, Revenue, Price and Gross Margin): JTEKTBoschNSKNexteerZFMobisShowaThyssenkruppMando In this study, the years considered to estimate the market size of Automotive Hydraulic Steering are as follows: History Year: 2013-2017Base Year: 2017Estimated Year: 2018Forecast Year 2018 to 2025 The Report covers in-depth analysis as follows: Chapter 1 Industry Overview of Automotive Hydraulic SteeringChapter 2 Manufacturing Cost Structure Analysis of Automotive Hydraulic SteeringChapter 3 Technical Data and Manufacturing Plants Analysis of Automotive Hydraulic SteeringChapter 4 Global Automotive Hydraulic Steering Overall Market OverviewChapter 5 Automotive Hydraulic Steering Regional Market AnalysisChapter 6 Global 2013-2018E Automotive Hydraulic Steering Segment Market Analysis (by Type)Chapter 7 Global 2013-2018E Automotive Hydraulic Steering Segment Market Analysis (by Application)Chapter 8 Major Manufacturers Analysis of Automotive Hydraulic SteeringChapter 9 Development Trend of Analysis of Automotive Hydraulic Steering MarketChapter 10 Automotive Hydraulic Steering Marketing Type AnalysisChapter 11 Consumers Analysis of Automotive Hydraulic SteeringChapter 12 Conclusion of the Global Automotive Hydraulic Steering Market Professional Survey Report 2017 For more information@ https://www.upmarketresearch.com/home/enquiry_before_buying/6303 Key Reasons to Purchase:To gain insightful analyses of the market and have a comprehensive understanding of the Automotive Hydraulic Steering and its commercial landscape.Assess the Automotive Hydraulic Steering production processes, major issues, and solutions to mitigate the development risk.To understand the most affecting driving and restraining forces in the Automotive Hydraulic Steering market and its impact on the global market.Learn about the market strategies that are being adopted by your competitors and leading organizations.To understand the future outlook and prospects for Automotive Hydraulic Steering Market Customization of the Report:UpMarketResearch provides free customization of reports as per your need.
