Automotive Power Steering Motor Market 2024-2028
The automotive power steering motor market is forecasted to grow by USD 620 mn during 2023-2028, accelerating at a CAGR of 6.4% during the forecast period. The report on the automotive power steering motor market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rise in demand from emerging apac countries, developments in market, and growing suvs industry.
Technavio's automotive power steering motor market is segmented as below:
By Application
By Geographical Landscape
- APAC
- Europe
- North America
- South America
- Middle East and Africa
This study identifies the continuous advances in automotive steering technology as one of the prime reasons driving the automotive power steering motor market growth during the next few years. Also, increasing penetration of steer-by-wire technology and increase in merger and acquisition activities will lead to sizable demand in the market.
The report on the automotive power steering motor market covers the following areas:
- Automotive Power Steering Motor Market sizing
- Automotive Power Steering Motor Market forecast
- Automotive Power Steering Motor Market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive power steering motor market vendors that include Allied Motion Technologies Inc., BorgWarner Inc., Brose Fahrzeugteile SE and Co. KG, DENSO Corp., General Motors Co., Hitachi Astemo Americas Inc., HL Mando Co. Ltd., Johnson Electric Holdings Ltd., JTEKT Corp., Komachine Co., Lucas TVS LTD., Mitsubishi Electric Corp., Nexteer Automotive corp, Nidec Corp., NSK Ltd., Robert Bosch Stiftung GmbH, thyssenkrupp AG, and ZF Friedrichshafen AG. Also, the automotive power steering motor market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.